Bankruptcy Taxation (2 credits) - Examines tax problems confronted by both debtors and creditors when corporations, partnerships and proprietorships are facing financial distress, whether within or outside bankruptcy jurisdiction.
Business Planning (3 credits) - A comprehensive examination of available alternatives for structuring tax planning for businesses (both incorporated and unincorporated) in their organization, financing, operations and disposition.
Corporate Tax (3 credits) - Examines the fundamentals of corporate and
shareholder income taxation, including corporate formations, capital structures, profits distributions, redemptions, corporate reorganizations, corporate separations, liquidations and sales of corporate businesses. The course also covers a consideration of related topics including ownership change limitations, net operating losses, and the consolidated return regulations.
Estate Planning (3 credits) - Analysis of techniques for the development of estate distribution arrangements, including intervivos gifts, wills, trusts (both revocable and irrevocable), joint property, community property, life insurance and related federal income, gift and estate tax considerations.
Income Taxation of Trusts and Estates (2 credits) - An examination of Subchapter J (income taxation of trusts and estates), including grantor trusts, simple and complex trusts, the allocation of taxable income among beneficiaries, and dealing with income in respect of a decedent.
International Taxation (U.S.) (3 credits) - Provides a consideration of U.S. income tax laws and tax treaties applicable to (1) the income of U.S. citizens and enterprises derived from foreign sources and (2) the income of foreign individuals and enterprises derived from U.S. sources.
Oil and Gas Taxation (3 credits) - Examination of special tax considerations
relevant to oil and gas investments and ownership transactions, including depletion allowances, intangible drilling expenses, exploration and development costs, types of property interests, and transfers of these property interests.
Partnership Taxation (2 credits) - Examination of income tax problems confronting partnerships and their partners, including partnership formation, operations, distributions to partners, sales of partnership interests and partnership liquidations.
Post-Mortem Estate Planning (2 credits) - Covers taxation issues associated with estate administration to enable minimization of income and estate taxes. Deals with tax issues involving the funding of pecuniary and residual bequests, disclaimers, special use valuation, estate tax compliance and audits, and the use of trusts as estate surrogates.
Real Estate Taxation (3 credits) - Income tax issues concerning the acquisition, holding, rental and disposition of real property, including tax basis, effects of debt, depreciation, passive loss rules and like-kind exchanges.
State and Local Taxation (2 credits) - Provides an examination of various state tax laws, including state income, franchise, property, excise, and severance taxes. Analyzes state taxation elements relevant to interstate businesses.
Tax Accounting (2 credits) - Consideration of rules for the allocation of income and deductions to the proper taxable year, including cash and accrual methods of accounting, transactional accounting, inventory taxation, changes of accounting methods, deferred payment sales and the time value of money.
Tax Ethics - (2 credits) - Analysis of the various professional responsibility and ethical rules applicable to lawyers in planning and litigating tax matters, including the applicability of Treasury Circular 230 and relevant state rules regulating an attorney's professional conduct. A mandatory course for LL.M. tax students.
Tax Fraud & Money Laundering (2 credits) - Examines the processes used by the IRS and the U.S. Justice Department to uncover and prosecute tax crimes and money laundering, mandatory sentencing, improper investigative techniques, and non-tax crimes and related matters.
Tax Litigation (2 credits) - A hands-on practicum (ordinarily scheduled early in the Spring Semester) enabling students to develop a tax case from audit, with IRS correspondence, proceeding through litigation and pleadings, including a simulated trial of the case often before a U.S. Tax Court Judge.
Tax Policy Seminar (3 credits) - Examination of current policy areas concerning tax law revision and the related impacts on federal and state fiscal policies.
Tax Procedure (2 credits) - Examination of issues encountered with administrative bodies and judicial proceedings, including requests for IRS rulings, statutes of limitations, refund claims, interest and penalties, choice of forum and tax collection matters.
Tax Research (1 credit) - Learning how to investigate tax issues, including
information about various tax research and tax writing techniques. Required for LL.M. tax students.
Taxation of Compensation (2 credits) - Taxation of qualified and non-qualified compensation arrangements, including stock options, restricted property arrangements, executive compensation and severance arrangements.
Taxation of Exempt Organizations (2 credits) - Examination of federal and state laws concerning creating and maintaining organizations exempt from federal income tax, including the tax deductibility of contributions, standards for granting tax exemptions, private charitable foundations, fiduciary responsibilities, and statutory and regulatory limits on political activities of tax-exempt organizations.
Taxation of Financial Instruments (2 credits) - Discussion of the various kinds of financial instruments, including options, futures, forwards and swaps; examines elements of debt, including time value of money, original issue discount, and the tax effects of various debt instruments.
* All LL.M. students are required to have taken a basic Federal Income Tax course. If necessary they can take the (four credit hour) Federal Income Tax course at the University of Houston Law Center, but no LL.M. Tax credit is granted for taking this course.
** Note that not all of these taxation courses are taught each academic year.