Twin Cities campus
 
Twin Cities Campus

Business Taxation M.B.T.

Accounting
Curtis L. Carlson School of Management
Link to a list of faculty for this program.
Contact Information
Masters Programs in Accounting, 3-110 Carlson School of Management, 321 19th Avenue South, Minneapolis, MN 55455 (612-624-7511; fax: 612-626-7795).
Email: mbt@umn.edu
  • Program Type: Master's
  • Requirements for this program are current for Fall 2017
  • Length of program in credits: 30
  • This program does not require summer semesters for timely completion.
  • Degree: Master of Business Taxation
Along with the program-specific requirements listed below, please read the General Information section of this website for requirements that apply to all major fields.
As one of the premier graduate tax programs in the nation, the Carlson School Master of Business Taxation (MBT) program helps students acquire a conceptual understanding of taxation, and develop technical competence in the practical application of the rules of taxation in business. In addition, courses in government and economic tax policy, tax negotiations, and tax technology and analytics provide breadth to complement the technical tax courses. The program gives students a chance to learn from world-class faculty who are distinguished professionals with extensive real-life experience. The faculty have in-depth knowledge of the tax industry and work closely with the Twin Cities business community. Combining rigorous coursework and top faculty from the tax community brings a broad perspective into the relationship between tax and business issues, which helps prepare graduates for greater responsibilities in business management and consulting. Historically, more than 80 percent of students are employed in the business community and take courses on a part-time basis. The classroom based program offers courses in the evenings, Monday-Thursday, 5:45-9:05 p.m., accommodating both part-time and full-time students. For added flexibility, some online courses are offered with a fully online MBT program available beginning fall 2018. To free tax professionals from coursework responsibilities during the busiest part of tax season, no courses are offered during the spring semester from early March through April 15. Students enrolled part-time can expect to complete the program in approximately three years. Students enrolled full-time can complete the program in a shorter period.
Program Delivery
  • via classroom (the majority of instruction is face-to-face)
  • partially online (between 50% to 80% of instruction is online)
Prerequisites for Admission
Other requirements to be completed before admission:
Applicants must have a bachelor's degree from an accredited college or university. The following required prerequisite courses may be taken after being admitted to the MBT program but must be taken before being eligible to take any MBT courses.
Required prerequisites
Introduction to Accounting
ACCT 2050 - Introduction to Financial Reporting (4.0 cr)
or equivalent course taken at another institution
Introduction to Federal Income Tax
ACCT 5135 - Fundamentals of Federal Income Tax (4.0 cr)
or equivalent course at another institution
Special Application Requirements:
Fall application deadline: June 15 Spring application deadline: October 15 Summer application deadline: March 15 Applicants must submit all application materials through the University's admission system. A GMAT or LSAT (Law School Admission Test) score that is not more than five years old is required. The GMAT score must be sent directly from GMAT to be considered official. The GMAT requirement will be waived for domestic students in the following cases: 1) applicant has a CPA license (either active or inactive), 2) applicant has at least two years of relevant U.S. based tax-related work experience within the prior five years, or 3) applicant is a Carlson School accounting graduate within the prior five years. In order for the waiver to apply, the applicant must have a minimum 3.0 undergraduate GPA from an accredited university. Applicants may submit their copy of their LSAT score to the MBT office. For international applicants, the results from one of the following English language tests are required: TOEFL, IELTS, MELAB. TOEFL scores must be received directly from TOEFL. IELTS and MELAB scores must be received directly from the testing center. For additional application details, review the M.B.T. admissions webpages.
For an online application or for more information about graduate education admissions, see the General Information section of this website.
Program Requirements
Plan C: Plan C requires 30 major credits and 0 credits outside the major. There is no final exam.
This program may not be completed with a minor.
Use of 4xxx courses towards program requirements is not permitted.
A minimum GPA of 3.00 is required for students to remain in good standing.
The MBT program requires 30 credits, including 12 required credits in specified courses and 18 elective credits. ACCT 2050 Introduction to Financial Reporting and ACCT 5135 Fundamentals of Federal Income Tax or equivalent courses are prerequisites to taking MBT courses. Students without these prerequisites may be admitted to the program, but these prerequisites must be completed before MBT courses are taken. BLAW 3058 The Law of Contracts and Agency: All students are required to have completed this course or an equivalent college-level course at some point in their academic career before graduating with an MBT degree.
Required Business Taxation Courses (12 credits)
MBT 5220 - Tax Research, Communication, and Practice (4.0 cr)
MBT 5200 - Tax Accounting Methods and Periods (4.0 cr)
MBT 5230 - Corporate Taxation I (2.0 cr)
MBT 5500 - Business, Government, and Economic Tax Policy (2.0 cr)
Elective Business Taxation Courses (18 credits)
In some cases, other graduate-level courses may be taken in place of an MBT elective course with prior approval from the MBT director.
Take exactly 18 credit(s) from the following:
· MBT 5223 - Tax-exempt Organizations (2.0 cr)
· MBT 5226 - Negotiation Techniques in Taxation (2.0 cr)
· MBT 5323 - Mergers and Acquisitions I (2.0 cr)
· MBT 5333 - Tax Aspects of Consolidated Returns (2.0 cr)
· MBT 5335 - Taxation of the Small Business Corporation (2.0 cr)
· MBT 5340 - Taxation of Partners and Partnerships (2.0 cr)
· MBT 5346 - ASC 740 Computations and Analysis (2.0 cr)
· MBT 5347 - Tax Technology and Analytics Fundamentals (2.0 cr)
· MBT 5348 - Advanced ASC 740 Concepts (2.0 cr)
· MBT 5350 - Wealth Transfer I (Estates and Gifts) (2.0 cr)
· MBT 5353 - Trusts and Estates (2.0 cr)
· MBT 5360 - State and Local Taxation (2.0 cr)
· MBT 5363 - Compensation and Benefits (2.0 cr)
· MBT 5370 - Taxation of Property Transactions (2.0 cr)
· MBT 5380 - Tax Aspects of International Business I (2.0 cr)
· MBT 5381 - Tax Aspects of International Business II (2.0 cr)
· MBT 5382 - Transfer Pricing (2.0 cr)
 
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ACCT 2050 - Introduction to Financial Reporting
Credits: 4.0 [max 4.0]
Course Equivalencies: 00458 - Acct 2050/ApEc 1251
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
Introduction to financial accounting for U.S. organizations. Reading financial statements. prereq: Soph
ACCT 5135 - Fundamentals of Federal Income Tax
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
U.S. federal system of taxation. Concepts of gross income, deductions, credits. Analysis of structure of Internal Revenue Code, its provisions with respect to specific areas of law. Interrelationships between legislative, judicial, and administrative authority. Methods, tools, and techniques to conduct tax research. prereq: [2050 or MBA 6030], [mgmt or grad mgmt student]
MBT 5220 - Tax Research, Communication, and Practice
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Tax questions. Locating/assessing potential authority. Communicating research results. Sources of IRS policy. Processing/auditing returns. Rulings, determination letters. Closing agreements. Assessments, collections. prereq: ACCT 5135
MBT 5200 - Tax Accounting Methods and Periods
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Rules affecting timing of income and deductions for tax purposes. Examination of cash and accrual accounting methods on an overall basis and with respect to individual items of income and deductions; rules for changing accounting methods and periods; annual accounting and transactional concepts, including the claim of right doctrine, the Arrowsmith doctrine, and the tax benefit rule. prereq: ACCT 5135, MBT student
MBT 5230 - Corporate Taxation I
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Federal income taxation of corporations/shareholders. Organization of a corporation. Establishment of capital structure. Determination of tax liability. Dividends, non-liquidating distributions. Stock redemptions, liquidations. prereq: ACCT 5135
MBT 5500 - Business, Government, and Economic Tax Policy
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall & Spring
Effects of business/government on tax system. Social, political, economic, cultural values affecting tax system. Macroeconomics/implication for taxation. History of taxes/alternate approaches to taxation, public finance, government expenditures in theory/practice. Specific taxes.
MBT 5223 - Tax-exempt Organizations
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Spring Odd Year
Tax law/issues concerning Section 501(c)(3) and other tax-exempt organizations. Qualification, procedures. Unrelated business income, private foundations (including intermediate sanctions), joint ventures. prereq: ACCT 5135
MBT 5226 - Negotiation Techniques in Taxation
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Summer
Hands-on approach. Applications from facilitating business sales, mergers, and acquisitions, to representinga client's position before IRS, to controlling TV remote. Negotiation process: planning, pre-negotiation preparation, strategy development.
MBT 5323 - Mergers and Acquisitions I
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Different types of acquisitions, dispositions, reorganizations, and spin-offs involving C corporations. Tax consequences of acquisition to corporations/shareholders involved. Use of 338 elections, limitations on acquired net operating losses/credits, use of covenants not to compete, consulting agreements, deferred payment terms, treatment of transaction costs.
MBT 5333 - Tax Aspects of Consolidated Returns
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Summer
Filing. Determining affiliated groups. Election filing. Intercompany transactions. Limitations on certain loss and credit carryforwards. Allocation of federal income tax liability. E&P, investment basis adjustments. Loss allowance rules. Excess-loss accounts.
MBT 5335 - Taxation of the Small Business Corporation
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Summer
Federal income taxation of S corporations. Election eligibility; termination of status; treatment of income and deduction items; distributions, basis of stock and debt. Compensation arrangements in closely held corporations; fiscal year issues; personal service corporations; advantages of C corporations vs. S corporations; corporation liquidation and redemption rules; S corporation's built-in gains tax. prereq: 5230
MBT 5340 - Taxation of Partners and Partnerships
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Reviews tax consequences associated with formation, operation, and dissolution of a partnership. prereq: Acct 5135
MBT 5346 - ASC 740 Computations and Analysis
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
Financial accounting/reporting standards for effects of income taxes from corporate activities. Computation of current/deferred tax expense/benefit. Temporary differences, carryforwards. Computation of deferred tax assets/liabilities, valuation allowances, business combinations. Investments in subsidiaries, equity method investments. Foreign operations, tax allocations, interim period tax calculations.
MBT 5347 - Tax Technology and Analytics Fundamentals
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Tax technology is transforming the way tax departments are doing business in many amazing ways. Both public accounting firms and businesses are investing in people, process, data, and technology at a rapid pace. This course provides the student with relevant background on current technologies and associated challenges, managerial approaches, systems design, process, data challenges and risk assessment methods that are specific to the tax technology arena. Additionally, it will focus on the fundamental concepts of project management, business requirements, data analytics, implementation choices, and the necessary business cases that are being conducted in both the public and private sector. prereq: ACCT 5135
MBT 5348 - Advanced ASC 740 Concepts
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Spring Even Year
Examination of topics under ASC 740 Accounting for Income Taxes. Share-based awards, uncertain tax positions, valuation allowances, business combinations, foreign operations, interim period tax calculations. Process design/perspective of stakeholders of income tax accounting. prereq: 5346
MBT 5350 - Wealth Transfer I (Estates and Gifts)
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Summer Even Year
Taxation of transfers under federal estate and gift tax laws. Property owned by decedent. Retained life estates. Transfers taking effect at death. Revocable transfers. Joint interest. Powers of appointment. Valuation. Expenses, debts, taxes. Charitable bequests, marital deduction. Taxable inter vivos gifts, splitting/credits. prereq: ACCT 5135, MBT student
MBT 5353 - Trusts and Estates
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Summer Odd Year
Simple, complex, and revocable trusts. Estates. Accumulation distributions and income with respect to decedents. Trust accounting income and principal. Distributable net income. Terminations. Excess distributions. prereq: ACCT 5135
MBT 5360 - State and Local Taxation
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
Examines state levying of individual income, corporate income, property, sales, and excise taxes. Tax problems of businesses with multistate operations. prereq: Acct 5135, MBT student
MBT 5363 - Compensation and Benefits
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Federal income taxation of executive compensation, relevant fringe benefit programs. Benefit programs other than qualified retirement plans. Salary continuation, stock options, non-profit organization plans, health/welfare plans. prereq: ACCT 5135
MBT 5370 - Taxation of Property Transactions
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Determining realized gain or loss and recognized gain or loss, and tax treatment of that gain or loss on property dispositions. Consequences of property transactions including depreciation, depletion, basis, and capital gains problems. prereq: Acct 5135
MBT 5380 - Tax Aspects of International Business I
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Multinational business operations/transactions involving foreign income. Tax consequences of transactions with/by foreign organizations/companies. prereq: 5230
MBT 5381 - Tax Aspects of International Business II
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Spring Even Year
Foreign tax credit, Subpart F planning opportunities, international structuring (joint ventures, use of entity classification regulations). Transfer pricing, foreign currency. Legislative, regulatory, and judicial developments.
MBT 5382 - Transfer Pricing
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Spring Odd Year
Transfer pricing requirements facing multinational companies. Tax requirements of the United States and other countries that have adopted the "arm's-length standard" or the transfer pricing guidelines adopted by the Organization for Economic Cooperation and Development. Regulations, methods, economic models, pricing policies, transaction accounting, and management of audits of managing transfer prices within a multinational company. prereq: ACCT 5135