Introduction to Tax Credits and Development Incentives

1 unit

[NOTE: This course will have six two-hour meetings- January 13, 27, February 3, 10, 17, 24. This will be announced at the beginning of the course. There will be a short take-home exam. Exam pick up will be on Friday, Feb. 28 and exam return on Monday, March 3] Drop Deadline: 9 p.m. on the first day of class. Students are encouraged to have taken Federal Income Taxation or Partnership Taxation as a prerequisite. The course will provide an overview of what tax credits and development incentives are and how they work, including an analysis of tax issues relating to the various credits and incentives (review of cancellation of debt, general mention of choice of entity and partnership allocation issues, true debt and lease classification). In addition, students will be provided with a basic introduction to Federal Historic Tax Credits, Federal New Markets Tax Credits, Federal Low-Income Housing Tax Credits and an overview of Missouri tax credits and economic development incentives. [Any Non-Tax LL.M. students interested in taking this course must receive special permission from Dean Sarah Narkiewicz, and will receive a letter grade which will not calculate into their JD GPA.]