Partnership Tax teaches students a “pass-through” tax regime that applies not only to all forms of partnerships (general partnerships, LPs, LLPs, and LLLPs) but also to LLCs and (with some modifications) S-Corporations. Business entities that are taxed as partnerships make up a huge portion of tax filings and students looking to do legal work for family-owned or small businesses should have a solid background in Partnership Tax. P - LAW 206 Taxation: Federal Income.