Use the partnership and corporate tax returns for the practice sets titled, Pet Kingdom and ROCK the Ages, LLC that you prepared in Weeks 3 and 5 in order to complete this assignment.

Write a four to five (4-5) page paper in which you:

1. Compare and contrast the tax rules and treatment applicable to corporations and partnerships. Indicate the major way in which the tax treatment affects the shareholders or partners.
2. Explain at least two (2) reasons why a business owner might opt to become a partnership over a corporation. Provide support for your rationale.
3. Imagine that you are a partner at ROCK the Ages, LLC. Justify why you elected to become a partnership as opposed to a corporation. Indicate tax rules that influenced your decision.
4. Imagine that you are the Chief Financial Officer at Pet Kingdom. Justify why your management team elected to become a corporation rather than a partnership. Indicate tax rules that influenced your decision.
5. Analyze what a business owner must consider when deciding what type of entity is best for the goals and vision of the business. Provide at least two (2) examples of research the owner must perform to ensure the proper election is made. Provide support for your rationale.
6. Use at least two (2) quality academic resources in this assignment. Note: Wikipedia and other Websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

• Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions. Note: Please refer to the APA template in the course shell for more information on APA style.
• Include a cover page containing the title of the assignment, the students name, the professors name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

• Examine the tax rules that are unique to corporations, and the basic concerns relevant to shareholders and the corporation.
• Examine the tax rules and treatment related to partnerships.
• Use technology and information resources to research issues in corporate federal taxation.
• Write clearly and concisely about corporate federal taxation using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.

Points: 240	Partnership vs. Corporation
Criteria	Unacceptable Below 60% F	Meets Minimum Expectations 60-69% D	Fair 70-79% C	Proficient 80-89% B	Exemplary 90-100% A
1. Compare and contrast the tax rules and treatment applicable to corporations and partnerships. Indicate the major way in which the tax treatment affects the shareholders or partners. Weight: 20%	Did not submit or incompletely compared and contrasted the tax rules and treatment applicable to corporations and partnerships. Did not submit or incompletely indicated the major way in which the tax treatment affects the shareholders or partners.	Insufficiently compared and contrasted the tax rules and treatment applicable to corporations and partnerships. Insufficiently indicated the major way in which the tax treatment affects the shareholders or partners.	Partially compared and contrasted the tax rules and treatment applicable to corporations and partnerships. Partially indicated the major way in which the tax treatment affects the shareholders or partners.	Satisfactorily compared and contrasted the tax rules and treatment applicable to corporations and partnerships. Satisfactorily indicated the major way in which the tax treatment affects the shareholders or partners.	Thoroughly compared and contrasted the tax rules and treatment applicable to corporations and partnerships. Thoroughly indicated the major way in which the tax treatment affects the shareholders or partners.
2. Explain at least two (2) reasons why a business owner might opt to become a partnership over a corporation. Provide support for your rationale. Weight: 20%	Did not submit or incompletely explained at least two (2) reasons why a business owner might opt to become a partnership over a corporation. Did not submit or incompletely provided support for your rationale.	Insufficiently explained at least two (2) reasons why a business owner might opt to become a partnership over a corporation. Insufficiently provided support for your rationale.	Partially explained at least two (2) reasons why a business owner might opt to become a partnership over a corporation. Partially provided support for your rationale.	Satisfactorily explained at least two (2) reasons why a business owner might opt to become a partnership over a corporation. Satisfactorily provided support for your rationale.	Thoroughly explained at least two (2) reasons why a business owner might opt to become a partnership over a corporation. Thoroughly provided support for your rationale.
3. Imagine that you are a partner at ROCK the Ages, LLC. Justify why you elected to become a partnership as opposed to a corporation. Indicate tax rules that influenced your decision. Weight: 15%	Did not submit or incompletely justified why you elected to become a partnership as opposed to a corporation. Did not submit or incompletely indicated tax rules that influenced your decision.	Insufficiently justified why you elected to become a partnership as opposed to a corporation. Insufficiently indicated tax rules that influenced your decision.	Partially justified why you elected to become a partnership as opposed to a corporation. Partially indicated tax rules that influenced your decision.	Satisfactorily justified why you elected to become a partnership as opposed to a corporation. Satisfactorily indicated tax rules that influenced your decision.	Thoroughly justified why you elected to become a partnership as opposed to a corporation. Thoroughly indicated tax rules that influenced your decision.
4. Imagine that you are the Chief Financial Officer at Pet Kingdom. Justify why your management team elected to become a corporation rather than a partnership. Indicate tax rules that influenced your decision. Weight: 10%	Did not submit or incompletely justified why your management team elected to become a corporation rather than a partnership. Did not submit or incompletely indicated tax rules that influenced your decision.	Insufficiently justified why your management team elected to become a corporation rather than a partnership. Insufficiently indicated tax rules that influenced your decision.	Partially justified why your management team elected to become a corporation rather than a partnership. Partially indicated tax rules that influenced your decision.	Satisfactorily justified why your management team elected to become a corporation rather than a partnership. Satisfactorily indicated tax rules that influenced your decision.	Thoroughly justified why your management team elected to become a corporation rather than a partnership. Thoroughly indicated tax rules that influenced your decision.
5. Analyze what a business owner must consider when deciding what type of entity is best for the goals and vision of the business. Provide at least two (2) examples of research the owner must perform to ensure the proper election is made. Provide support for your rationale. Weight: 10%	Did not submit or incompletely analyzed what a business owner must consider when deciding what type of entity is best for the goals and vision of the business. Did not submit or incompletely provided at least two (2) examples of research the owner must perform to ensure the proper election is made. Did not submit or incompletely provided support for your rationale.	Insufficiently analyzed what a business owner must consider when deciding what type of entity is best for the goals and vision of the business. Insufficiently provided at least two (2) examples of research the owner must perform to ensure the proper election is made. Insufficiently provided support for your rationale.	Partially analyzed what a business owner must consider when deciding what type of entity is best for the goals and vision of the business. Partially provided at least two (2) examples of research the owner must perform to ensure the proper election is made. Partially provided support for your rationale.	Satisfactorily analyzed what a business owner must consider when deciding what type of entity is best for the goals and vision of the business. Satisfactorily provided at least two (2) examples of research the owner must perform to ensure the proper election is made. Satisfactorily provided support for your rationale.	Thoroughly analyzed what a business owner must consider when deciding what type of entity is best for the goals and vision of the business. Thoroughly provided at least two (2) examples of research the owner must perform to ensure the proper election is made. Thoroughly provided support for your rationale.
6. 2 references (or number in the assignment) Weight: 5%	No references provided	Does not meet the required number of references, and / or references are of poor quality.	Meets the required number of references; some or all references poor quality choices.	Meets number of required references; all references high quality choices.	Exceeds number of required references; all references high quality choices.
7. Writing Mechanics, Grammar, and Formatting Weight: 5%	Serious and persistent errors in grammar, spelling, punctuation, or formatting.	Numerous errors in grammar, spelling, and punctuation.	Partially free of errors in grammar, spelling, punctuation, or formatting.	Mostly free of errors in grammar, spelling, punctuation, or formatting.	Error free or almost error free grammar, spelling, punctuation, or formatting.
8. Appropriate use of APA in-text citations and reference section (if applicable, might not apply to some 100 level courses such as ACC100) Weight: 5%	Lack of in-text citations and / or lack of reference section.	In-text citations and references are given, but not in APA format.	In-text citations and references are provided, but they are only partially formatted correctly in APA style.	Most in-text citations and references are provided, and they are generally formatted correctly in APA style.	In-text citations and references are error free or almost error free and consistently formatted correctly in APA style.
9. Information Literacy/Integration of Sources Weight: 5%	Serious errors in the integration of sources, such as intentional or accidental plagiarism, or failure to use in-text citations.	Sources are rarely integrated using effective techniques of quoting, paraphrasing, and summarizing.	Sources are partially integrated using effective techniques of quoting, paraphrasing, and summarizing.	Sources are mostly integrated using effective techniques of quoting, paraphrasing, and summarizing.	Sources are consistently integrated using effective techniques of quoting, paraphrasing, and summarizing.
10. Clarity and Coherence of Writing Weight: 5%	Information is confusing to the reader and fails to include reasons and evidence that logically support ideas.	Information is somewhat confusing with not enough reasons and evidence that logically support ideas.	Information is partially clear with minimal reasons and evidence that logically support ideas.	Information is mostly clear and generally supported with reasons and evidence that logically support ideas.	Information is provided in a clear, coherent, and consistent manner with reasons and evidence that logically support ideas.