MTAX 6465 - State and Local Taxation

This course focuses on various state and local taxation issues, such as the constitutionality of certain state and local tax regimes; nexus or jurisdictional tax due process; allocation and apportionment formulae under various state and local tax regimes; business versus nonbusiness income; the multi-state tax compact; the “unitary” concept; residency definitions; nonresident income sources; sales of tangible personal property and their taxation, including the impact of sales and use taxes on selected transactions, such as interstate purchases and sales, drop shipments, purchases from and sales to state and federal governments, occasional or “casual” sales, leasing transactions, and construction and manufacturing transactions; retail and wholesale sales; valuation techniques for real and personal property for purposes of certain state and local property taxes; and administrative procedures applied by various state and local tax jurisdictions. Restriction: Restricted to graduate majors and NDGR majors with a sub-plan of NBA or CPA within the Business School. Max hours: 3 Credits. Semester Hours: 3 to 3