Catalog Version

Summer/Autumn 2013
Catalog update:
May 15, 2013

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Students are required to follow the Academic Handbook and Code of Student Responsibility​​

Course Requirements 

A LLM in Taxation student must complete 24 semester hours of credit with a minimum grade point average (GPA) of 2.50 in order to earn the degree. A summer term is counted as a semester for this purpose.

Courses must be selected from the LLM in Taxation course list. The LLM program may be completed on either a full- or part-time basis but must be completed within five year.

The American Bar Association mandates that no credit be given for taxation courses taken before a student is accepted into the LLM program Credits earned as part of a JD program do not count toward the LLM in Taxation.

Electives

LAW 212

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.

LAW 600

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.
Prerequisites:
LAW 210 or LAW 212 is a prerequisite for this class.

LAW 620

PARTNERSHIP TAXATION

(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.
Prerequisites:
LAW 210 or LAW 211 or LAW 212 is a prerequisite for this class.

LAW 210

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.

LAW 218

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.
Prerequisites:
LAW 210 or LAW 212 is a prerequisite for this class.

LAW 409

ESTATE PLANNING

(3 hrs) Concerned with planning for the transfer of property to younger generations and to charities. Focuses on the techniques for reducing income, estate and gift taxation. Prerequisites for JD students: Federal Income Taxation (LAW 210) or Federal Income Taxation & Policy (LAW 212).
Prerequisites:
LAW 210 or LAW 212 is a prerequisite for this class.

LAW 348

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.
Prerequisites:
LAW 102 is a prerequisite for this class.

LAW 349

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.

LAW 460

BUSINESS PLANNING

(3 credit hours) Combines advanced work in business organizations, securities law and federal taxation in the context of business planning and counseling.

LAW 524

FIELD PLACEMENT

2 or 3 credit hours. This program is designed to give upper level students practical experience in an externship with a public agency, non-profit organization, member of the judiciary, or for-profit organization, such as a private law firm or in-house counsel for a corporation. Upper level students, who have at least 28 credit hours and a GPA of 2.0, may apply to participate. Participants are accepted on a case by case basis. Externships are unpaid. No student can receive more than 3 credit hours per semester and no more than 9 credit hours toward their JD degree if 3 of those credits are earned during a summer placement. Otherwise, students are limited to 6 credits hours total. A placement for 3 credit hours is expected to complete 180 hours of work whereas 120 hours of work is expected for a 2 credit hour placement.,

LAW 604

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.

LAW 608

INTERNATIONAL TAXATION

(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.