Twin Cities campus

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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 2018
  • 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, a fully online MBT program is available beginning fall 2018. Students in the classroom based program may also choose to take some courses online. 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)
  • completely online (all program coursework can be completed online)
  • 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: ACCT 2050 and ACCT 5135. Equivalent courses may be substituted with approval of the director of graduate studies.
Required prerequisites
Introduction to Accounting
ACCT 2051 - 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 up to 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.
Required Business Taxation Courses (12 credits)
MBT 6201 - Tax Accounting Methods I (2.0 cr)
MBT 6202 - Tax Accounting Methods II (2.0 cr)
MBT 6221 - Tax Research, Communication, and Practice (4.0 cr)
MBT 6231 - Corporate Taxation I (2.0 cr)
MBT 6341 - Taxation of Partners and Partnerships (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 6226 - Negotiation Techniques in Taxation (2.0 cr)
· MBT 6232 - Corporate Taxation II (2.0 cr)
· MBT 6333 - Tax Aspects of Consolidated Returns (2.0 cr)
· MBT 6335 - Taxation of the Small Business Corporation (2.0 cr)
· MBT 6346 - ASC 740 Computations and Analysis (2.0 cr)
· MBT 6347 - Tax Technology and Analytics Fundamentals (2.0 cr)
· MBT 6348 - Advanced ASC 740 Concepts (2.0 cr)
· MBT 6351 - Wealth Transfer I (Estates and Gifts) (2.0 cr)
· MBT 6353 - Income Taxation of Fiduciaries (2.0 cr)
· MBT 6361 - State and Local Taxation (2.0 cr)
· MBT 6363 - Compensation and Benefits (2.0 cr)
· MBT 6371 - Taxation of Property Transactions (2.0 cr)
· MBT 6381 - Tax Aspects of International Business I (2.0 cr)
· MBT 6382 - Tax Aspects of International Business II (2.0 cr)
· MBT 6383 - Transfer Pricing (2.0 cr)
· MBT 6501 - Business, Government, and Economic Tax Policy (2.0 cr)
Program Sub-plans
A sub-plan is not required for this program.
Students may not complete the program with more than one sub-plan.
 
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ACCT 2051 - Introduction to Financial Reporting
Credits: 4.0 [max 4.0]
Course Equivalencies: Acct 2050/ApEc 1251/Dbln 2051
Grading Basis: A-F or Aud
Typically offered: Every Fall, Spring & Summer
This course introduces the topics of financial reporting and accounting. The purpose of financial accounting is to provide information to the entity owners and external parties to serve as the basis for making decisions about that entity. A student who successfully completes this class should be able to 1) understand the concepts and principles of accounting, 2) analyze, record and report the accounting treatment of business transactions, and 3) prepare, interpret, and analyze financial statements.
ACCT 5135 - Fundamentals of Federal Income Tax
Credits: 4.0 [max 4.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall & Spring
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 and or 2051] or MBA 6030], [mgmt or grad mgmt student]
MBT 6201 - Tax Accounting Methods I
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
This course covers the federal income tax rules for when income and expense should be recognized. The purpose of this course is to provide students the statutory and regulatory framework for analyzing and explaining the federal income tax consequences of tax accounting methods and periods issues. prereq: ACCT 5135, MBT student - NOTE: Previous course number was MBT 5200.
MBT 6202 - Tax Accounting Methods II
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Spring
This course covers special topics within the tax accounting methods area, including changes in accounting methods, accounting periods, installment sales, and inventory concepts. The purpose of this course is to provide students statutory and regulatory framework for analyzing and explaining the federal income tax consequences of special tax accounting methods issues. prereq: MBT 5200/6201 NOTE: Previous course number was MBT 5201
MBT 6221 - 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 NOTE: Previous course number was MBT 5220
MBT 6231 - Corporate Taxation I
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
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 NOTE: Previous course number was MBT 5230
MBT 6341 - Taxation of Partners and Partnerships
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
Reviews tax consequences associated with formation, operation, and dissolution of a partnership. NOTE: Previous course number was MBT 5340 prereq: Acct 5135
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 6226 - Negotiation Techniques in Taxation
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Spring Even Year
Hands-on approach. Applications from facilitating business sales, mergers, and acquisitions, to representing a client's position before IRS, to controlling TV remote. Negotiation process: planning, pre-negotiation preparation, strategy development. NOTE: Previous course number was MBT 5226.
MBT 6232 - Corporate Taxation II
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
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. NOTE: Previous course number was MBT 5323 prereq: MBT 6231/5230
MBT 6333 - Tax Aspects of Consolidated Returns
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Summer Odd Year
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. NOTE: Previous course number was MBT 5333.
MBT 6335 - Taxation of the Small Business Corporation
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Summer Even Year
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. NOTE: Previous course number was MBT 5335. prereq: MBT 6231\5230
MBT 6346 - ASC 740 Computations and Analysis
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Every Fall
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. NOTE: Previous course number was MBT 5346.
MBT 6347 - 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 NOTE: Previous course number was MBT 5347.
MBT 6348 - 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. NOTE: Previous course number was MBT 5348. prereq: MBT 6346\5346
MBT 6351 - 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. NOTE: Previous course number was MBT 5350.
MBT 6353 - Income Taxation of Fiduciaries
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. NOTE: Previous course number was MBT 5353. prereq: ACCT 5135
MBT 6361 - 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. NOTE: Previous course number was MBT 5360.
MBT 6363 - Compensation and Benefits
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Fall Odd Year
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 NOTE: Previous course number was MBT 5363.
MBT 6371 - 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 NOTE: Previous course number was MBT 5370.
MBT 6381 - 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: MBT 6231/5230 NOTE: Previous course number was MBT 5380.
MBT 6382 - Tax Aspects of International Business II
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Spring Odd 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. prereq: MBT 6381/5380 NOTE: Previous course number was MBT 5381
MBT 6383 - Transfer Pricing
Credits: 2.0 [max 2.0]
Grading Basis: A-F or Aud
Typically offered: Spring Odd Year
This course provides an introduction to transfer pricing issues facing multinational businesses. The discussion will focus on the application of the arm?s length standard as described in US Treasury Regulations 1.482, and application of transfer pricing legislation and regulations in other countries, largely through the transfer pricing guidelines published by the Organization for Economic Cooperation and Development (OECD). The course examines economic models, pricing policies, global intangible property, and controversy involving transfer pricing. Prereq: ACCT 5135. NOTE: Previous course number was MBT 5382.
MBT 6501 - Business, Government, and Economic Tax Policy
Credits: 2.0 [max 2.0]
Grading Basis: A-F only
Typically offered: Every Fall
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. prereq: MBT 6231/5230. NOTE: Previous course number was MBT 5500.