LLM 323

Multistate Taxation of Individuals, Trusts and Estates

3 Unit(s)

Covers the state tax structure applied to individuals, which includes in-depth coverage of issues related to residency and sourcing of income of nonresidents. Also explores the rules in multiple states and analyzes the constitutional limitations on the state’s ability to extend its tax system to nonresidents. Covers state sourcing rules that apply to nonresident partners, shareholders and LLC members. The course will also examine issues related to telecommuting and the mobile work force. Also analyzed are the issue of conformity to federal law in light of massive nonconformity by most of the states; tax incentives offered by the states to encourage job growth; and specialized topics such as state taxation of estates, trusts and their beneficiaries, accounting periods and methods and state taxation of taxable and nontaxable sales and exchanges. Cross-listed with and equivalent to TA 323. (JD students seeking to enroll must obtain the approval of the program director.) Prerequisite: LLM 330.