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State & Local Taxation - LAW992

2 Credits

Deregulation, electronic commerce, and globalization have significantly affected state taxation. This course focuses on the economic, administrative, political, and constitutional limitations on state taxation of international and intrastate transactions, property and income. This includes an examination of the local taxation of personal property, sales, gross receipts, personal and business income (including franchise taxes); the problem of multiple taxation, including relevant federal and state enactments and interstate agreements; audits and appeals; and recent attempts to limit the taxing and spending powers of various states. We will also study the Uniform Division of Income for Tax Purposes Act (UDITPA), which serves as a model for most states. The course does not concentrate on the laws of any particular state nor is any prior course in taxation required. This course is particularly appropriate for students interested in a corporate, tax or transactional practice. (No prerequisite)