LAW 651

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Credit: 3 TO 4 hours.

This course will cover the rationale and technical tax requirements for exempting charities from federal and state taxes. Subjects covered will include the rationale for exemption (especially with respect to churches, schools, and hospitals), qualification rules under I.R.C. Section 5 (c)(3), the Unrelated Business Income Tax, and if time permits, the charitable contributions deduction. Prerequisite: Income Taxation (LAW 647) is a prerequisite, though it may be waived in appropriate cases. The course is otherwise open to second and third year students.

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