State and Local Tax

Catalog description

For individuals and entities planning or engaging in business transactions, the dollar impact of state and local taxes often equals or exceeds that of the federal income tax. Thus, state and local tax issues must be considered by any competent tax planner. Further, unlike in the case of the federal income tax, the U.S. Constitution provides significant limitations on the structure and reach of state and local taxes. Federal statutes also limit certain state and local taxes. This course will explore the statutory and constitutional issues in state and local taxation, including income, property, and sales and use taxes on individuals and entities. Prerequisite(s): LAW 7601 may be taken as a prerequisite or corequisite.