TA 315

Multistate Taxation of Business Entities (other States)

3 Unit(s)

Analyzes the tax treatment, tax problems and tax-planning techniques of corporations and flow through entities engaged in multistate activities. The course is structured as a survey course and will cover the rules and regulations in multiple states. Students will be able to request coverage of specific states that are of interest to them in their practice. Topics include: Constitutional limitations on states’ ability to tax multistate corporations and flow through entities, new developments in state doing business standard, state tax treatment of S corporations, partnerships and LLCs, computation of taxable income, business vs. nonbusiness income, formula apportionment, unitary taxation, combined reporting, consolidated returns and water’s-edge elections. Case studies are used to illustrate concepts. Prerequisite(s): TA 318 and (TA 329A or TA 329). Cross-listed with and equivalent to the following course. (Note: no academic credit is awarded for retaking equivalent course.): LLM 315.