EQU 32000 - Equine Taxation

Prerequisite(s): EQU 22000 FOR LEVEL UG WITH MIN. GRADE OF C-

Credit Hours: 3.00. The focus is on Federal income tax laws and their impact on the equine operations. Business v. Hobby issue will be addressed by analyzing cases applying the nine regulatory factors determining the issue. Also to be addressed are forms of business, e.g. proprietorships, syndicates, partnerships, corporations, limited liability companies, cash and accrual methods of accounting, passive losses, depreciation, sales and exchanges. State and foreign taxes will be reviewed as they effect equine operations. Typically offered Summer Fall Spring.

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