BUAC774

The course 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 multistate income, business versus nonbusiness 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.