TAX 652 - State and Local Taxation

3 Credit(s)

Students begin by gaining an understanding of the constitutional due process limitations on the state’s authority to impose taxes. They develop a framework that enables them to evaluate whether a state has exceeded the constitutional limits of its taxing authority. Students will be able to advise clients as to how to minimize state tax burdens in Pennsylvania, New Jersey, Delaware, and in many other states. With knowledge of state taxation, students will be able to counsel clients as to the optimal choice for selecting the state of incorporation, the best location for choosing the principal headquarters, and the most tax-friendly states in which to do business. Students will be sensitized to the need to consider all types of taxes including income, franchise, property, and other taxes when businesses undergo fundamental changes in ownership and/or structure. This is a required class for MSTFP students.