LAW 5504 - State and Local Taxation

Credit(s): 2
This course discusses the basic principles of state and local taxation, focusing primarily on sales/use taxes, income/franchise taxes, and property tax. The course provides an overview of the federal limitations of state taxation provided by U.S. Constitution’s Commerce Clause, Due Process Clause, and First Amendment, as well as selected federal statutes that preempt state taxation. The course discusses conformity with federal tax laws and introduces the student to the state tax concepts of nexus, the unitary business principle, formulary apportionment, and other multijurisdictional situsing. In addition to the introductory concepts above, particular classes will focus on: (i) state taxation of the “new economy”; and (ii) the practical life cycle of a Louisiana tax issue – from consulting and planning, to audits/assessments/refunds and controversy, to policy and legislation. The course grade will be based on a final exam and “mock” legislative exercise held on the last day of class.