Tax Law (TAXLW)

This course examines the federal income tax consequences associated with the formation, operation, and liquidation of corporations and partnerships. Students will apply complex statutes and regulations to factual scenarios involving the life cycle of business entities. Students will also think creatively about how to modify a potential transaction to achieve superior tax consequences.

This course examines the basic substantive provisions of the federal income tax law. Included are the following general topics: gross income, exclusions, deductions, depreciation, basis, tax accounting, and other provisions affecting situations encountered by attorneys in general practice

Beginning with historical and constitutional aspects, students will analyze in detail recent developments in state and local taxation and their impact on client representation. Attention will be concentrated on corporate, sales and use and other business taxes, death duties, and property taxes and exemptions.

This course treats the unique problems concerning U.S. taxation of the foreign income and operations of U.S. persons and enterprises and the incidence of U.S. taxation on foreign persons and enterprises, including the following basic topics: the tax treatment of international business and investments, sales and financing, the sourcing of income, inclusions and exclusions, the foreign tax credit, controlled foreign corporations, and tax avoidance. This course stresses the role of international tax treaties and examines, on a comparative basis, the tax rules of other countries in order to better understand our own system and to gain an understanding of the overall impact of taxation in the international setting.

Special Topics