206 score from the Test of English as a Foreign Language (TOEFL) which is not more than two years old and on which a minimum score of 550 (paper-based) or 213 (computer-based) has been earned. Application Application for admission to the Master of Taxation Program should normally be made by August 1 (fall semester), December 1 (spring semester), and April 1 (summer semester) of the year during which admission is sought. Application for admission must include GMAT scores, official undergraduate transcripts, resume, and two letters of recommendation. It is expected that the Master of Taxation Program will entail approximately two semesters of full-time study for a student with a bachelor's degree in accounting. Students with other business- related degrees can expect to spend about two years in the program. Those with non-business related undergraduate degrees should plan to spend at least three years in the program. Contact the School of Accountancy for a separate and detailed bulletin on the Master of Taxation Program. Advisement For questions concerning academic advisement, the primary source of contact will be the Master of Taxation program director. For issues regarding registration and scheduling, students will contact the School of Accountancy department secretary. Career services will be offered through the Goddard School of Business and Economics. Course Requirements for Master of Taxation All MTAX students are required to complete the following courses (IS credit hours): Tax Research & Communication (3) Tax Practice, Procedure & Ethics (3) Advanced Individual Taxation (3) Advanced Corporate Taxation (3) Advanced Partnership Taxation (3) MTAX. MTAX 6425 MTAX 6430 MTAX 6460 MTAX 6470 And at least one of the following (3 credit hours): MTAX 6410 International Taxation (3) MTAX 6440 Exempt Entities and State & Local Taxation (3) MTAX 6450 Real Estate Taxation (3) MTAX 6480 Retirement Planning & Employee Benefits (3) MTAX 6490 Mergers, Acquisitions and Consolidations (3) In addition to meeting the requirements set forth above, MTAX students are required to complete 12 credit hours of electives. At least two of the elective courses must be selected from MACC courses (totaling at least 6 credit hours). Electives may include a maximum of 3 hours ofnon-MTAX and non-MACC courses selectedfrom approved 5000 or higher-numbered courses which were not taken in the student's undergraduate program. Certain MBA courses approved by the MTAX program director may also be used. MASTER OF TAXATION COURSES - MTAX Entry into all 6000 level courses requires graduate standing. (See School of Accountancy for graduate standing criteria.) MTAX 6400. Tax Research & Communication (3) Techniques in effective tax research, planning and communication. Also includes a discussion of tax policy. MTAX 6410. International Taxation (3) Principles of U.S. taxation applicable to inbound and outbound international transactions. Also covers issues related to international tax treaties. MTAX 6420. Taxation of Gifts, Estates, & Trusts (3) Principles of estate & gift taxation and valuation. Also includes wills and intestate succession and income taxation of estates and trusts. MTAX 6425. Tax Practice, Procedure & Ethics (3) Detailed study of tax procedure in the context of a tax practice. Also covers legal and ethical requirements applicable to tax practitioners and their clients in complying with tax laws. MTAX 6430. Advanced Individual Taxation (3) In-depth coverage of advanced individual tax issues such as alternative minimum tax, loss limitations, real estate transactions, stock options, employment taxes, tax credits, charitable contributions, interest classification, related-party transactions, and timing of income/loss recognition. MTAX 6440. Exempt Entities & State & Local Taxation (3) Nonprofit corporations, public charities, private foundations, excise taxes, unrelated business income, and compliance issues for tax- exempt entities. State income taxation, nexus, constitutional limitations, sales tax, excise tax, properly tax, and other current state and local tax issues. MTAX 6450. Real Estate Taxation (3) In-depth study and analysis of the taxation of real estate transactions. Covers topics such as like-kind exchanges, personal residences, real estate development, passive loss rules, involuntary conversions, casually losses, and real estate investment trusts. MTAX 6460. Advanced Corporate Taxation (3) Income taxation of corporations and shareholders. Includes in- depth analysis of tax issues related to corporate formations, operations, distributions and liquidations. Also covers the taxation of S corporations. MTAX 6470. Advanced Partnership Taxation (3) Income taxation of partnerships and partners. Includes in-depth analysis of tax issues related to partnership formations, operations, distributions and liquidations. Also covers issues related to limited liability companies. MTAX 6480. Retirement Planning & Employee Benefits (3) Consideration of tax, insurance, investment and estate planning principles from a retirement perspective. Includes discussion of sources of retirement income and anticipated retirement expenses. MTAX 6490. Mergers, Acquisitions and Consolidations (3) In-depth coverage of advanced corporate tax topics such as tax-free corporate reorganizations, taxable stock acquisitions, taxable asset acquisitions, affiliated groups, consolidated returns, and corporate tax shelters. Recommended Prerequisite: MTAX 6460. DEPARTMENT School of Accountancy Chain Dr. David Malone Location: Wattis Business Building, Room 221 Telephone Contact: Tonia Wilson, 801-626-6072 Professors: Jefferson Davis, David Durkee, Richard McDermott, James Swearingen; Associate Professors: Larry Deppe, David Malone, Matthew Mouritsen, Ryan Pace; Assistant Professors: Eric Smith, Sandra Swearingen; Instructor: Loisanne Kattelman; Visiting Professor: Tom Allen I he School of Accountancy creates a synergy between accounting, business, and economic theory and contemporary practice to prepare working professionals and full-time students for careers in a global, culturally diverse, infomiation-driven economy. Three principles are central to our mission: Weber State University 2011 - 2012 Catalog