ACCT 331. Introduction to Taxation, Honors. 3 Hours.

Honors treatment of this course is a study of the major concepts related to taxation with emphasis on the federal income tax for individuals including the implications of being a sole proprietor, partner of a partnership, and a corporate shareholder. Major topics covered include: different types of taxes; formation of the tax law; gross income; deductions; the tax formula; tax credits; filing status; tax treatment for capital gains and losses; and selected nontaxable transactions. Prerequisite: ACCT 320 or ACCT 323. Only open to students admitted to the University Honors Program, the Business Honors Program, or permission of the instructor. LEC.