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Courses - Fall 2023
BUAC
Accounting and Information Assurance Department Site
BUAC772
(Perm Req)
Database Management and State and Local Taxation
Credits: 2
Grad Meth: Reg
Restriction: Must be in Business and Management (Master's) program; or permission of BMGT-Robert H Smith School of Business.
Covers the tax implications of doing business in the United States across state lines, resulting in multiple taxation under the Commerce Clause of the United States Constitution. The course focuses on nexus or jurisdictional due process (which gives states the right to tax business profits), allocation and apportionment formulas of multi state income, business versus non-business income, privilege tax and discrimination. Also explored are the current tax developments under the Import-Export clause of the United States Constitution, taxation based on class legislation and the Equal Protection Clause, the multi-state tax compact, unitary concept, residence definitions, nonresident income sources, tax credits and short-period returns for individual income taxpayers, sales of tangible personal property, and retail and wholesale sales. The course examines valuation techniques for real and personal property. Students will learn the skills needed to understand and identify many aspects of the state income tax apportionment process. Focus will be placed on calculations and analyses required to present the state and local tax information in such a manner as to assist upper management in the business expansion decision-making process. The tax apportionment process requires a solid understanding of database management and we will utilize tools that are considered required knowledge in today's tax departments.