15 credits from the following courses:
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
Surveys federal income tax law, especially as it relates to taxation of individuals.
Students must also take at least on of the following courses:
The course is a practice-oriented, simulated course that satisfies the substantial skill instruction requirement for graduation. The course initially considers the relevant tax systems, including transfer taxes (gift, estate and generation-skipping transfer taxes) and income taxes (individual income taxes and the income taxation of trusts, decedents’ estates and beneficiaries). Thereafter, students will learn how to draft wills, revocable trusts and advance directives taking into account the relevant non-tax and tax rules. Students will also learn how to effectively communicate with clients. Ethical considerations are emphasized throughout the course. In lieu of a final examination, students will submit a comprehensive project for a hypothetical client. Typically students work as a team of two students (unless a student prefers to work alone).
Examines state and local tax issues with emphasis on New York tax issues.
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.
Students are encouraged to take at least one of the following courses based on their area of study.
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.
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.
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.
The number of elderly Americans is projected to increase significantly over the next few decades. Life expectancy is still increasing; the economy and job growth are sluggish; millions of Americans lack adequate health insurance; health care costs are rising at a rate far higher than the general inflation rate; and the Administration and state governments are attempting to implement the Affordable Care Act in the face of budgetary constraints and implacable opposition from certain groups.
The course will cover:
1. Federal pension law under ERISA and the Internal Revenue Code;
2. Social Security and Medicare coverage and benefits, including policy and financial issues; and
3. The major new rules under the Affordable Care Act relating to access to health care, how health care is provided and financed, patient protections, employer-provided benefits and quality improvement.
Participation in at least one of the following experiential programs:
- Community Development Clinic
- Field Placement or Semester In Practice related to Tax Law (approval by Concentration Advisor)
Students are required to complete one significant piece of writing in the concentration area. The writing requirement does not require that students earn any credits beyond the required and credits described above. The topic and the arrangement for fulfilling the writing requirement, however, must be approved in advance by the Concentration Advisor. The paper could be written to fulfill the requirements of a course, an independent study, or a law journal note and comment. It may also be possible to fulfill this requirement by completing a substantial piece of writing in conjunction with an experiential course, clinic, or Field Placement, such as a brief, a series of Motions, or a significant legal memorandum. It could also be fulfilled by writing a paper independently, such as a submission to a writing competition or an article for publication. In all of these arrangements, the prior approval of the Concentration Advisor is required.
(Effective December 18, 2018)