TAX-866 State & Local Taxation
This course strikes a balance between theoretical concepts and practical, real-world issues and covers the interrelationships between the federal and state taxation systems. The course also delves into the limitations upon the states' authority to tax which arise from U.S. Constitutional and federal law. The major types of taxes are covered which include sales and use taxes, corporate income, franchise taxes, and excise taxes. The course emphasizes a case review approach to the study of state and local taxation. Students will be exposed to current developments via the analysis of current tax cases from various states and local taxing authorities and recent U.S. Supreme Court decisions. The ability to practice in this area requires strong research skills as tax law routinely changes at the state and local level and changes in federal tax law can pose significant implications on the states' enforcement of its tax laws. In order to meet this expectation, the course focuses on professional tax practice skills development by incorporating research of current tax law and its implication as it relates to an assigned case study. The case study requires that students develop a tax planning strategy and present a recommendation based on their research findings and the overall business strategy of a given entity.
Prerequisite
TAX-801 or approval of the MST Director
Offered
Fall Only