In this subject students will be provided with a broad overview of the taxation of business activity within the United States. It will address the sources of U.S. tax law, the various bases for business activity taxation, how disputes between businesses and tax authorities are resolved, and the implications of the foregoing for business decision-making. It will conclude by considering some of the major challenges facing the U.S. tax system, such as: the intervention of the WTO into domestic U.S. tax policy: the growth of tax sheltering and expatriation; and the extraordinary, long-term U.S. federal and state deficit projections.

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