Tax Law

Requirements

24 credits with at least 15 from the following courses:

  • Title
  • Type
  • Credits
  • Elective
    Credits: 3

    ​Focuses on general lifetime estate planning and estate planning at death based on the study of the relevant federal wealth transfer and income tax rules.

    Prerequisite: Trusts and Estates

  • ​Studies the rules governing federal taxation of corporations and their shareholders. Covers tax consequences to corporations and shareholders of corporate formations, distributions, redemptions, and liquidations.

    Prerequisite: Introduction to Taxation

  • ​Studies the rules governing the federal taxation of pass-through business entities, including partnerships, LLCs, LLPs, etc. Topics include tax consequences of the formation of pass-through entities, allocation of tax items to partners and members, distributions by pass-through entities, and sales of interests in these entities.

    Prerequisite: Introduction to Taxation

  • Elective
    Credits: 4

    Surveys federal income tax law, especially as it relates to taxation of individuals.

  • ​Examines the non-profit regulatory environment and the role non-profits play in our economy and culture. Explores state and federal regulation and how it compares to for-profit corporations and governmental agencies. Provides in-depth coverage of the many compliance standards imposed on organizations seeking to obtain and maintain exempt status.

  • Elective
    Credits: 3

    Examines state and local tax issues with emphasis on New York tax issues.

  • Elective
    Credits: 2

    This seminar will deal with various proposals for reform of federal and state tax laws. Particular attention will be devoted to issues currently pending in Congress and state legislatures. Problem areas will be reviewed from an economic, social and practical, as well as legal standpoint. The first half of the course will be devoted to a study of the basic underlying principles and objectives of a tax system. Coverage will include the ability to pay concept, redistribution of wealth, the influence of the tax system on socially desirable and undesirable conduct, the use of taxation to regulate the economy, the regressive nature of the Federal social security tax and state sales tax, and various state issues such as the financing of public education and local government services through the property tax. During the second part of the course each student will analyze in depth a specific area of the student's own choosing and will conduct a session of the seminar at which his/her conclusions and recommendations will be reviewed by the other members of the class.

    Prerequisite: introduction to Taxation.​​

  • Elective
    Credits: 3

    ​Focuses on laws of interstate succession; execution, revocation, probate, and construction of wills; non-probate transfers; nature and creation of express, resulting and constructive trusts; powers of appointment; and fiduciary administration.

No more than 9 of the 24 credits from the following:

  • Elective
    Credits: 3

    Introduces the field and discipline of financial accounting. This course seeks to acquaint the non-financial student with the general purposes of accounting and the role of independent accountants in business and society. Intended for lawyers who have a non-financial background, the student will be introduced to the mechanics and terminology of financial accounting and will learn the basic principles and procedures of accountancy in the preparation of financial statements. With this foundation, the student will learn the purpose behind each of the individual financial statements and how to analyze and interpret the financial statements.​

  • Elective
    Credits: 3

    Introduction to rights and obligations of financially distressed debtors and their creditors. Analyzes the Federal Bankruptcy Code and the Code's impact on general non-bankruptcy law.

  • Elective
    Credits: 3
    This course surveys various areas of law that are important to businesses and their advisors, including: choosing the correct form of business entity, including tax and governance issues;licenses and permits; raising capital through equity and loans; business insurance; employment law; employee benefits; development and protection of intellectual property;and securities law issues. Paper course.
    Auditing allowed; Paper can be used for writing requirement.faculty approval.
  • Elective
    Credits: 2

    Presents exercises in solving typical problems in the formation and operation of closely-owned small businesses, including business and financial considerations, and application of state and federal tax, partnership and corporation laws to such organizations. Business organizations and Introduction to Taxation are recommended, but not required prerequisites.​

  • Elective
    Credits: 3

    Studies problems in cases having contact with two or more states or nations. Course has three basic components: jurisdiction, choice of law, and recognition and enforcement of sister-state and foreign judgments.

  • ​Studies the establishment, operation, and regulation of retirement planning options under the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act. Includes in-dept analysis of deferred compensation plans (qualified and non-qualified), stock options, pension and profit sharing plans, and employer-provided health benefits.
  • Elective
    Credits: 3

    Drafting and planning techniques of general application (for both married and unmarried persons and for persons of moderate and little wealth) are emphasized throughout. The course also covers important lifetime directives, including durable powers of attorney for property, health care proxies and living wills. In lieu of an examination, Estate Planning II involves a project. Students form teams of 2 and 3 (although you can work alone should you so choose) and prepare a will and trust for a hypothetical married person, taking into account all relevant tax and non-tax factors. The team or individual can select New York or any other state law in doing the project. The project is designed to give you an experience transferable to actual practice.

    Estate Planning I is a prerequisite for Estate Planning II. ​

  • Dozens of field placement opportunities exist for second- third-year students. They spend a minimum of 10 hours per week​​ at their field placement site and participate in a one-hour weekly seminar.

    Note that most field placement​s need to be topic related and approved by a concentration advisor to count toward a degree.

  • ​Limited to 3 credits maximum

Research paper:

Written under faculty supervision on a relevant aspect of tax law. Must qualify for the Law School's upperclass writing requirement, and may or may not be used to satisfy that requirement.

(Effective November 6, 2012) ​