Examines and compares the tax characteristics of business and investment entities. Explores the tax treatment, problems and planning techniques of formation and operation of entities, including effective tax rate, eligibility, election, revocation, termination and accounting rules. This is a highly recommended elective course. Cross-listed with and equivalent to TA 356. (JD students seeking to enroll must obtain the approval of the program director.) Prerequisite: LLM 322A and LLM 328.