To earn a Certificate in Taxation, a student must complete the eighty-six (86) semester hours required for the Juris Doctor degree and satisfy all JD requirements. Within the course work required for the JD degree, a student must complete fifteen (15) credit hours from the listed taxation courses. Three courses are required. Two electives are required. All courses are three (3) credits unless otherwise indicated. Certificate courses may not be audited.
An applicant must maintain a minimum GPA of 3.20 in the Certificate courses. If a student takes more than the five courses required for the Certificate, all of the taxation courses will factor into the final GPA. A student must declare on the Certificate application form all of the taxation courses taken, even if a grade is not yet known. A student may earn a maximum of one Certificate while enrolled in law school.
Elective Courses, Seminars and Practicum
Choose 2 from the following:
FEDERAL INCOME TAXATION
(3 hrs) Required for Certificate in Taxation unless student takes LAW 212. Provides a study of tax law as it relates to the individual. Emphasis is placed on statutory materials, regulations, rulings and judicial decisions. Special consideration is given to the concept of gross income, adjusted gross income, deductions and gains.
FEDERAL INCOME TAXATION AND FEDERAL POLICY
(4 hrs) Required for Certificate in Taxation unless student takes LAW 210. Examines economic and government policy context out of which tax laws arise and ethical issues in tax practice as well as substantive tax law. Designed for those who have never studied taxation. Examines how Congress uses its revenue power to shape the economy as a whole and to implement its philosophy of taxation.
TAXATION OF CORPORATIONS & SHAREHOLDERS
(3 hrs) Required for Certificate in Taxation. Addresses basic tax considerations in the formation, operation and liquidation of corporations. Among the areas covered are the organization of corporations, Subchapter S corporations, property and stock dividends, 306 stock, stock redemptions, liquidations, collapsable corporations, corporate divisions and corporate reorganizations.
LAW 210 or LAW 212 is a prerequisite for this class.
TAXATION OF STRUCTURED REAL ESTATE TRANSACTIONS
This course will provide an introductory overview of the primary tax considerations involved in structured real estate transactions, including: an analysis of the effect of income taxes on real estate transactions; a comparison of the various structures used for the owenership and development of real estate; a review of section 1031 like-kind exchange driven real estate syndications; alternative financing techniques such as sale-leaseback transactions; REIT; and inbound and outbound real estate investments.
LAW 210 or LAW 212 is a prerequisite for this class.
SENIOR RESEARCH SEMINAR
(3 hrs) Required for JD. The student must write an in-depth paper of Law Review quality on a topic of the professor's choosing.
MERGERS AND ACQUISITIONS
(3 hrs) Aspects of business entities involved in a merger, consolidation, acquisition and other forms of combination. Examines business, financial, personal and real property, employment rerlations, labor, taxation, and environmental issues. Also analyzes the tax consequences of the particular form of combination.
LAW 102 is a prerequisite for this class.
INTERNATIONAL TRADE LAW
(3 hrs) An introduction to the regulatory structure of global economic relations, focusing on the theoretical and substantive foundations of multilateral systems such as the IMF, GATT, NAFTA and the European common market. The course also analyzes the legal and constitutional framework for the treatment of international trade questions in the US, the European Union and Japan, and explores how this framework accommodates selected issues of global trade policy.
(3 hrs) Employee Benefits covers the creation and operation of retirement plans under the Employment Retirement Income Security Act of 1974 (ERISA) as well as medical and other welfare benefit plans for employees.
(3 credit hours) Combines advanced work in business organizations, securities law and federal taxation in the context of business planning and counseling.
LEGAL CLINIC II
(3-6 hrs) Students work in one of the clinic modules under the supervision of a clinical attorney concentrating on real life problems with real clients and organizations. Instructor's permission required.
TAX EXEMPT ORGANIZATIONS
(3 hrs) Covers qualification as section 501(c) charitable organizations, rules governing conduct of commercial and political activities of charities, unrelated business income and private foundations.
(3 crs.) An introduction to the taxation of income of U.S. citizens, residents and corporations from foreign sources and the income of foreign residents and non-residents from U.S. sources. Topics may include sources of income rules, foreign tax treaties and a survey of the tax treatment of U.S. investments made offshore.
OFFSHORE FINANCIAL CENTERS: CAYMAN ISLANDS
This course is a combined classroom and field experience designed to provide an introduction to offshore financial centers which include captive insurance arrangements, hedge funds, and asset securitization transactions. A principle purpose is to study various business entities and will examine policy, business and legal issues related to use of such entities.
(3 credit hours) Required for LLM in Taxation students. Covers the tax consequences of the formation, operation and liquidation of partnerships, including tax shelters, passive loss rules and newly emerging uses of partnerships.
LAW 210 or LAW 211 or LAW 212 is a prerequisite for this class.