State and Local Tax covers state and municipal sales and corporate income taxes, along with their constitutional background and the issues raised by the Interstate Tax Freedom Act. Every year, there are several seminars on tax subjects, which generally include the possibility of satisfying the third-year and LL.M. written work requirements. Typical subjects, which vary from year to year, include current issues in tax policy, corporate tax policy, ethical problems in tax practice, derivative financial products, issues in international taxation, and multidisciplinary professional practice. Students interested in taxation should take at least one of these seminars, and, when feasible, satisfy the written work requirement in conjunction with the seminar. The School has a history of excellent student papers written in tax seminars, a significant number of which have been published as leading articles in a variety of journals.
Accounting is one of the faculty's recommended basic courses.
Students who have never had an accounting course and who are contemplating a possible career in tax law should take Accounting. Business Planning deals with some of the typical problems confronted by closely-held corporations and their shareholders, such as organization of the corporation and repurchase of a retiring stockholder's interest. The emphasis is on the lawyer's role in planning the transaction and counseling in light of the applicable corporate and tax law. Structuring Venture Capital examines some of the legal and business issues typically faced by new ventures, such as equity capital structures, leverage buyouts, and initial public offerings. As in Business Planning, the emphasis is on the role of the lawyer in private practice.