MST COURSE INFORMATION
The Bryant MST is a 10-course graduate program designed for students with a background in accounting, taxation, finance or law.
MST Course Descriptions
TAX600 Individual Income Taxation
This course examines the federal tax statutes, regulations, rulings, and leading cases applicable to individual and other taxpayers, with special emphasis placed upon understanding the federal income tax system and the source of tax law. Areas covered include definition of gross income, deductions, nonbusiness and business taxpayers, the identity of the taxable person, and accounting methods and periods.
TAX605 Sales and Exchanges
This course considers the tax consequences arising from dispositions of property using a detailed analysis of the treatment of capital gains, deferred payment sales, basis, amount realized, dispositions by gift of inheritance, nonrecognition exchanges, mortgages, and installment sales. Time is also devoted to the study of recapture provisions of the Internal Revenue Code.
TAX610 Corporations and Shareholders
This course examines the taxation of corporations and shareholders. Emphasis is placed on corporate formations, the corporate capital structure, stock redemptions, and accounting for income taxes. Various types of corporate distributions are also examined in detail.
TAX615 Estate and Gift Taxation
This course examines federal estate and gift taxes through an intense study of statutes, regulations, and case law, and explains practical applications in estate planning.
TAX620 Tax Practice and Procedure
This course reviews the administration of the Internal Revenue Code by the Internal Revenue Service and other federal tax agencies. Students will study procedural problems with respect to treasury regulations, requests for administrative rulings, assessment of deficiencies and penalties, closing agreement, tax liens, civil and criminal cases, transferee liability, claims for refund, information conferences, and hearings before the Appellate Division of the IRS and the Tax Court of the U.S.
TAX625 Partnership Income Tax Problems
This is an intensive analysis of income tax problems encountered in the organization, operation, reorganization, and dissolution of partnerships. It includes recognition of partnership status for tax purposes and problems created by the death or retirement of a partner, sale of a partnership interest, distribution of partnership assets, and determination of the amount and nature of a partner's share in partnership income or loss.
TAX640 Advanced Income Tax Problems
This course covers problems of corporations and shareholders. Topics include accumulated earnings tax, personal holding companies, complete liquidations (one month and one year), collapsible corporations, S corporations, liquidation of subsidiaries, affiliated and controlled groups, and consolidated return problems, plus an overview of corporate reorganization areas. Prerequisite: TAX610
TAX672 Income Taxation of Trusts and Estates
This course covers income taxation of trusts or estates, plus the tax treatment of grant or trusts, income in respect of a decedent, assignment of income, and accumulation trusts. Prerequisite: TAX615
TAX673 Pension and Profit Sharing
This is an intensive analysis of tax implications of deferred compensation, with emphasis on qualified and unqualified pension and profit-sharing plans. It includes eligibility and participation of employees, funding, benefits, and plan administration (including fiduciary responsibility). It also considers IRAs, Roth IRAs, Section 88 restricted property, statutory stock options, and other alternatives to qualified plans.
TAX674 Corporate Reorganizations
This is a study of mergers and acquisitions that covers different corporations; the special problems or transactions that result in the division of a single corporation; provisions of the Internal Revenue Code that relate nonrecognition of gain or loss; and the treatment of basis and boot. Landmark cases and leading judicial doctrines that deal with the need for business purpose and continuity of interest are examined. Prerequisites: TAX600,TAX605, TAX610
TAX675 Business Tax Planning
This course presents business problems to which students find solutions after independent or group research. Topics discussed include the formation of corporations with consideration given to securities, professional service corporations, dividends, stock redemptions, and the purchase and sale of businesses. Actual and hypothetical fact patterns are used by students to plan and structure transactions. A student is given a set of facts that is used to conduct a business as a sole proprietorship, a partnership, or a corporation and then liquidate this entity. Prerequisites: TAX600, TAX605, TAX610
TAX 676 Multi-State Taxation
Various states have adopted revenue - raising statutes that vary from income taxes, franchise taxes, license taxes and business profits taxes. A company doing business in more than one state must develop tax planning strategies that can reduce its overall state tax burden. This requires an understanding of the wide disparity of methods used to determine a state's taxable income and the tax rates imposed on that income. This course examines the tax structure in the State of Rhode Island. In addition, it covers nexus and its role in multi-state taxation. It discusses the sales, payroll, and property appointment factors used to allocate income amongst the states; the unitary method of state taxation; domicile concepts; and state taxation of e-commerce. The Uniform Division of Income for Tax Purposes Act and the Multistate Tax Compact will also be covered.
TAX677 Estate Planning
This course provides intensive consideration of the marital deduction, lifetime gifts, use of trusts, selection of trustees, valuation problems, apportioning the tax burden, charitable deduction, deferred compensation plans, and life insurance. Prerequisite: TAX615
TAX678 International Taxation
This course covers the special tax rules that apply to cross-border transactions between the United States and its trading partners. The US taxation of foreign-source income earned by US taxpayers (outbound taxation) and the US taxation of US source income earned by foreign taxpayers (inbound taxation) is studied in detail. Topics include sourcing of income and deductions; transfer pricing; extraterritorial income exclusion; subpart F income and the foreign tax credit.
TAX690 Selected Topics in Taxation
This course is a three-credit graduate elective in contemporary topics and issues in taxation. Students examine current issues in greater detail than is possible in the usual course offerings.
TAX691 Directed Independent Study
This is an individual academic course tailored to fit the unique interests of a graduate student. At the initiation of the graduate student, a chosen faculty member and the student develop an academic plan that is submitted to the director of the graduate studies for final approval.