Details

The course addresses the imposition of a variety of state and local taxes including corporate net income taxes, franchise/capital stock taxes, sales and use taxes, and gross receipts taxes. Topics with respect to corporate net income taxes include the imposition of net income taxes and the Federal statutory and Constitutional limitations thereon, the calculation of the tax base, the unitary business principle, allocation and apportionment, and business vs. nonbusiness income. Other topics that will be covered in the course include the imposition of sales and use taxes, the tax implications of the deregulation of utilities, the taxation of electronic commerce, and the taxation of LLC's and LLP's. Pre-requisite: Not open to second year JD students who are not enrolled in the Joint Degree Program without the permission of the instructor. Basic Federal Income Tax is a pre-requisite for JD candidates.