State and Local Taxation

Credit Hours: 2

This course introduces students to the law of state and local taxation. No prior training in tax is required. Taxes covered include the real property tax, state personal and corporate income taxes, and sales taxes. Important in the course are limits on a state's jurisdiction to tax and various constitutional limits on a state's reaching beyond its borders to tax out-of-state taxpayers. The course will also offer a smattering of public finance economics to assist those students who have an interest in elected, staff, lobbying or public-interest positions involving public-finance type issues in public fiscal and tax policy. The course will also cover the fact that states do not have equal revenue-raising capacity. The natural resource states such as Alaska can use severance taxes, the economic burden of which is borne in other states, and need not tax households. Knowledge of these capacities can assist students in advising clients where and what state tax burdens are low and seem likely to stay low.