Tax law

Tax law

:"Tax code" redirects here. For the term as used in the United Kingdom PAYE system, see Tax code (PAYE)."Tax law is the codified system of laws that describes government levies on economic transactions, commonly called taxes.

Major issues

Primary taxation issues facing the governments world over include;
* taxes on income and wealth (or estates)
* taxation of capital gains
* taxation of retirement pensions and social security contributions etc.
* inheritance taxes
* taxation of gifts
* consumption taxes (or sales tax)
* taxation of corporations, LLCs, partnerships

Tax education from law schools

In law schools, "tax law" is a sub-discipline and area of specialist study. Tax law specialists are often employed in consultative roles, and may also be involved in litigation. Many U.S. law schools require about 30 semester credit hours of required courses and approximately 60 hours or more of electives. Law students pick and choose available courses on which to focus before graduation with the J.D. degree in the United States. This freedom allows law students to take many tax courses such as federal taxation, estate and gift tax, and estates and successions before completing the Juris Doctor and taking the bar exam in a particular U.S. state.

There are many fine LLM or Masters in Laws Graduate programs currently being offered in the United States, United Kingdom, Australia, Netherlands etc. Many of these programs offer the opportunity to focus on domestic and international taxation. In the United States most LLM programs require that the candidate be a graduate of an American Bar Association-accredited law school while a mere graduate law degree is a sufficient eligibility criterion in other countries for admission to LLM in Taxation law programmes.

Tax education from business school programs

There are hundreds of accredited business schools in the USA. Many are accredited by the AACSB or ACBSP or recognized by AAFM. These undergraduate or graduate programs may allow the student to major or graduate with a tax related degree such as a Masters in Taxation. Also, the undergraduate focus on accounting would allow a student to go the Certified Public Accountant (CPA) track. After a student completes the individual state or jurisdictional requirements for accounting, the applicant may sit for the Uniform Certified Public Accountant Examination.

ee also

*Taxation in the United States
*Taxation in the United Kingdom
*Taxation in the Netherlands
*Taxation in Australia
*Taxation in Canada
*Taxation in China
*Taxation in France
*Taxation in Germany
*Taxation in India
*Taxation in Colombia


Wikimedia Foundation. 2010.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • tax law — Introduction       body of rules under which a public authority has a claim on taxpayers, requiring them to transfer to the authority part of their income or property. The power to impose taxes is generally recognized as a right of governments.… …   Universalium

  • tax law — mokesčio įstatymas statusas Aprobuotas sritis mokesčiai apibrėžtis Vienas iš šių teisės aktų: Lietuvos Respublikos įstatymas, nustatantis Lietuvos Respublikos mokesčių administravimo įstatymo 13 straipsnyje nurodytą mokestį, Lietuvos Respublikos… …   Lithuanian dictionary (lietuvių žodynas)

  • Tax Law. — Tax Lawyer …   Black's law dictionary

  • Tax law rewrite project — The tax law rewrite project of HM Revenue and Customs is a major effort to re write the entire tax legislation of the United Kingdom in a format which is both more consistent and more understandable. It aims to remove archaic language and… …   Wikipedia

  • tax law — noun the body of laws governing taxation • Topics: ↑law, ↑jurisprudence • Hypernyms: ↑law, ↑jurisprudence …   Useful english dictionary

  • tax — 1 vt [Medieval Latin taxare to assess for taxation, tax, from Latin, to assess, value, fix] 1: to assess or determine judicially the amount of (costs of an action in court) 2: to levy a tax on tax the corporation tax capital gains tax·er n tax 2 …   Law dictionary

  • tax evasion — n: a willful and esp. criminal attempt to evade the imposition or payment of a tax convicted of tax evasion Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. tax evasion …   Law dictionary

  • tax court — n often cap T&C: a court having jurisdiction over questions of law and fact arising under the tax laws of a government; specif: the federal court hearing tax cases Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. tax court …   Law dictionary

  • tax return — n: return (5) Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. tax return …   Law dictionary

  • tax avoidance — legally reducing tax liability. Tax planning is the activity by which a taxpayer seeks to arrange his affairs so that his tax liability is minimised; avoidance of tax within the limits of tax law is perfectly legitimate; tax evasion is the… …   Law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”