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S Corporations - QSUB Elections (4173333B)

Date:Monday, December 11, 2017
Time:1:00 PM - 2:00 PM
(Registration at 12:30PM)
Facility:Webcast or Webinar, Online
CPE Credit:1.0 Technical Business
Instructor: John G. McWilliams
Vendor:California CPA Education Foundation
Course Level:Overview
Early Bird Price:$30.00 FICPA Members, $45.00 Non-Members


If an S corporation owns 100% of the stock of another corporation, the tax consequences of the operation of the subsidiary will depend on whether the S corporation makes a "qualified subchapter S subsidiary election" (QSUB election ). Consider the factors that determine whether this election should be made. Discuss topics covering both immediate and long-term tax consequences and the process necessary to make the election.

  • Recognize the immediate and long term tax consequences of making or not making a QSUB election.
  • Identify situations where the QSUB election can be made.
  • Analyze the result of the "deemed liquidation" including unusual facts which can create complications.
  • Discuss situations where the election could be desirable or undesirable.
  • Explain the tax compliance requirements  necessary to successfully make the QSUB election.

Major Topics:
  • Requirements that must be satisfied to make the QSUB election.
  • How to make the QSUB election.
  • Immediate tax consequences of election, "deemed liquidation."
  • Potential complications of "deemed IRC 332 liquidation."
  • Situations where the QSUB election could be desirable.
  • Situations where the QSUB election could be undesirable.
  • Longer term consequences of the decision to elect or not elect.

Who Should Attend:

CPAs and lawyers with at least two years of experience advising privately owned businesses.

Understanding the basics of the taxation of corporations, S corporations and partnerships.

Advanced Preparation:


If listed below, select the appropriate sessions or options to continue with your purchase.

Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.