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GLOBAL PHILANTHROPY & US ASSIS (INTERNAT'L AND COMPARATIVE LAW - 3020)
3 credits
Treaties, U.S. and foreign laws, policies, politics, and cultural issues drive the U.S. government's international assistance programs, as well as the agendas and decisions of U.S.-based private foundations and public charities, including international nongovernmental organizations, involved in global philanthropy and assistance for under- developed countries and their people. Understanding relevant laws and regulations, appreciating politics and pertinent cultural issues, grasping policy implications for both the U.S. and foreign countries is key to the development of the assistance projects of our government and nonprofit sector. This course will offer students insights into, and permit them to explore, important aspects of these foundational tools and systems. Grades will be based on a final paper.
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NONPROFIT ORGANIZATIONS (BUSINESS AND FINANCE LAW - 3040)
3 credits
This course in nonprofit organizations explores state and federal, tax and non-tax aspects of various organizational forms that comprise our nation's nonprofit sector. The course begins with an overview of the rationales for and historical role of nonprofit organizations, including charitable, scientific, educational and religious organizations. Discussion includes the choices of legal form of nonprofits and their special purposes, powers and governance responsibilities. The course addresses recourse against and standing to sue nonprofit organizations' directors in light of statutory and case law. The course explores the special state and federal tax benefits and burdens affecting public benefit and mutual benefit organizations, including the federal income tax exemption, charitable contribution status, the federal unrelated business income tax provisions, and the state property tax exemption. Distinctions between public charities and private foundations, their responsibilities and their taxations will be addressed. Discussion will include federal regulation of political activities, lobbying activities and fundraising activities. Relevant issues impacted by constitutional law considerations are addressed. As current events warrant, special emphasis may be placed on a particular nonprofit sector or type of prohibited activity. Grades are based upon a research paper.
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TAX INTL ASPECTS OF US INCOME (TAXATION - 1050)
2 credits
This course will survey the U.S. income taxation of nonresident alien individuals and foreign corporations involved in business transactions and investment activities in the United States, as well as on the U.S. income taxation of domestic corporations and U.S. citizens with foreign income producing activities. As part of the discussion of these topics, coverage will address the taxation of U.S. shareholders of controlled foreign corporations; the role of the foreign tax credit for U.S. citizens and domestic corporations; the role of the withholding tax applicable to nonresident individuals and foreign corporations; the branch profits tax; special status foreign corporations, such as passive foreign investment companies; transfer pricing; and the role of tax treaties. Class discussion will also include basic federal corporate tax concepts when important to the understanding of these topics. Grades are based upon a final examination.
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TAX BASIC FED PERSONAL INCOME (TAXATION - 1030)
3 credits
This is an introductory course. Its purpose is to give students an understanding of the basic principles underlying the federal income tax and to develop a realization of its effect on the economic life of the community. The course concentrates on fundamental concepts such as the scope of gross income, specific exclusions, assignment of income, the major items of deduction, the amount realized on property dispositions, basis for gain or loss, characterization of gain or loss as capital or ordinary, credits, the taxable year, and the mechanics of computation of income tax liability. The development of the present tax system, the fiscal aspects of the income tax and the legislative, administrative, and judicial processes in the enactment and enforcement of the income tax laws are briefly considered. Grades are based upon a final examination.
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TAX FEDERAL CORPORATE INCOME (TAXATION - 1020)
4 credits
This course applies the principles of federal income taxation to problems arising from use of the corporate form. The tax consequences to the corporation and to the shareholders are considered. Major topics covered in the course include what entities are considered corporations for tax purposes, tax-free incorporations, the treatment of dividends and Section 306 stock redemptions, partial and complete liquidations, and mergers, divisions and other corporate reorganizations. Grades are based upon a final examination.