Tax Law

This course is an introduction to the federal income taxation of corporations and their shareholders. Topics covered will include the tax classification of business entities, incorporation and capital structure, taxable and non-taxable dividends, stock redemptions, corporate liquidations, corporate reorganizations, and an overview of "S corporations." Pre- OR co-requisite: Law 311 Federal Income Tax Recommended: Law 303 Corporations or Law 320 Business Associations. Close Window

A study of the basic laws relating to federal income taxation of the individual. Included are problems relating to computing gross income, the reduction of gross income to taxable income, and the recognition and character of gains and losses from disposition of property. Close Window

Open to 3Ls, the Federal Tax Clinic offers eight students the opportunity to assist in the representation of low income Virginia taxpayers seeking assistance from the nonprofit Community Tax Law Project before the IRS, U.S. Tax Court, and U.S. District Court. Students will find it helpful if they have taken Federal Income Tax, however Tax is not a prerequisite. Taught by Professor Craig Bell. Pass/fail course. Close Window

Eligible placements include U.S. civil legal services/legal aid organizations and U.S. private, nonprofit, 501(c)(3) organizations. Private nonprofit organizations with IRS status other than 501(c)(3) are not eligible for externship credit. Organizations outside the U.S. are eligible if they would qualify for 501(c)(3) status if they were U.S. organizations. Finalizing an externship requires 3 steps before the registration deadline: (1) securing an externship; (2) submitting a completed Externship Agreement; and (3) registering for the correct course and the correct number of credits. 1-3 credits. Externships are graded Honors/Pass/Low Pass/Fail. Close Window

The State and Local Taxation course considers taxation imposed by states and local governments in a variety of contexts including the taxing of income, sales and use, property, and business licenses. This course will benefit students entering either a tax practice or a general business practice. Topics to be covered in the course will include: the key elements of the major business taxes and individual state income tax; the constitutional restrictions applicable to the taxation of interstate businesses; the handling of audits; and the conduct of administrative and judicial appeals. The course will use Virginia's tax system as an illustrative model for issues that are common to most jurisdictions. Students will be evaluated on the basis of their class participation and on a series of written assignments including administrative protests of hypothetical audit assessments and initial court pleadings. Close Window