Courses

MBT students take nine required courses (20 credits) that establish a foundation of core knowledge, but also choose from a varied set of electives to earn their remaining 10 credits. These elective classes allow students to concentrate on a specific area that aligns with their career goals or piques their intellectual curiosity. Four-credit classes meet for the full term; two-credit classes meet for a half semester during either the A term (first half) or B term (second half).

  • MBT 5220 - Tax Research
    4 cr
    This course is an in-depth treatment of tax research methodology, locating and assessing potential authority, and communicating research results. The student will research and write several tax memoranda as well as a protest letter. Substantive material includes the IRS examination and appeals processes, penalties and interest, statute of limitations, assessment and collection, refunds and ethical standards. Research and writing is a time-consuming process and students should expect to devote more time than most other classes. prereq: ACCT 5135
  • MBT 5200 - Tax Accounting Methods I
    2 cr
    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
  • MBT 5201 - Tax Accounting Methods II
    2 cr 
    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
  • MBT 5230 - Corporate Tax 
    2 cr
    The course reviews the fundamental principles followed by the United States to tax the transactions that typically occur during course of a corporation’s business life. These transaction include: shareholder transfers of property to a controlled corporation in exchange for stock (§351), the distribution of earnings; corporate redemptions, and corporate liquidations prereq: ACCT 5135
  • MBT 5323 - Corporate Tax II (formerly Mergers & Acquisitions)
    2 cr 
    Reviews the US tax consequences to shareholders and corporations involved in various corporate transactions to include taxable asset and stock acquisitions, nontaxable corporate reorganizations. Also covers elections affecting tax basis (§338) and consequences to corporate "tax attributes" (net operating losses, etc.) resulting from changes in corporate ownership. prereq: MBT 5230
  • MBT 5340 - Partnership Tax
    2 cr
    This course reviews tax consequences associated with the formation, operation, and dissolution of a partnership. Other topics will include sales and exchanges of partnership interests, distributions, and an overview of partnership allocations and liability sharing provisions. At the end of the course, students will be familiar with the terminology of these topics and be able to work through the statutory and regulatory rules governing them. prereq: Acct 5135
  • MBT 5347 - Tax Technology & Analytics Fundamentals 
    2 cr 
    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 5360 - State & Local Taxation 
    2 cr 
    This course covers state imposition of corporate and personal income taxes, sales and use taxes, and related limitations. It develops key multi-state tax concepts including: nexus, unitary business, apportionment factors, non-business income, residency and taxable transactions. prereq: Acct 5135
  • MBT 5380 - International Tax I 
    2 cr
    Reviews the US taxation of foreign transactions conducted by US multinational corporations. Topics include the US taxation of income earned by foreign subsidiaries under the subpart F and GILTI regimes, the incentives provided for earning US income with US based intellectual property (FDII regime), the calculations relating to the foreign tax credit and the US taxation of "base erosion" payments (BEAT regime). prereq: 5230.
  • MBT 5348 - Advanced ASC 740
    2 cr
    The course is a deeper examination of topics under ASC 740 Accounting for Income Taxes including share-based compensation, net operating losses, uncertain tax positions, valuation allowances, international topics, business combinations. This course will explore the interactions between different technical topics in more depth than the introductory course. The course also focuses on process design, common problems that arise in the provision process and the perspective of stakeholders of the income tax accounting process. The course will include several guest speakers by stakeholders such as, audit firm partner, CFO/controller, and tax department head to provide perspective on documenting and communicating ASC 740 issues with an overarching theme of managing risks through process design. prereq: MBT 5346
  • MBT 5346 - ASC 740 Computations & Analysis
    2 cr
    This course deals with the reporting standards for financial accounting for the effects of income taxes from corporate activities. It contains a series of lectures, discussions, examples and exams that cover the following specific topics pertaining to accounting for income taxes: Current and Deferred Expense, Temporary Differences, Share-Based Compensation, Net operating losses and credits, alternative minimum taxes, uncertain tax positions, valuation allowances, international topics, business combinations, intra-period allocation, interim reporting, disclosures and presentation. Completion of the assignments will be critical to success in the course. prereq: Acct 5135; exposure to general corporate tax principles highly recommended.
  • MBT 5363 - Compensation & Benefits  
    2 cr
    This course covers the federal income taxation of executive compensation and both qualified and non-qualified benefit programs. For executive compensation the course will allow you to: identify and discuss the various types of non-qualified deferred compensation plans allowed under tax laws and where and when such plans are appropriate; discuss the role that non-qualified plans play in hiring and retaining executives as well as in their retirement planning; and discuss various executive compensation strategies and their impact on incentives for senior management, plan designs and their financial statement impact. For qualified retirement plans you will be able to: identify and discuss the different types of qualified retirement plans allowed under tax laws and where and when such plans are appropriate and discuss the major role that qualified retirement plans play in the strategy of various employers. prereq: Acct 5135
  • MBT 5333 - Consolidated Tax Returns 
    2 cr 
    This course provides an in-depth analysis of the rules and regulations governing the ability of corporations domiciled in the United States to file a consolidated federal income tax return. The course focuses on section 1501, 1502, and 1504 of the Internal Revenue Code and related regulations.2 Topics covered include the definition of an affiliated group, group structure changes, the investment adjustment system (e.g., basis, earnings and profits, and consolidated taxable income), inter-company transactions, and limitations of loss utilization (e.g., section 382, separate return loss years, and the unified loss rule). Prereq: MBT 5230
  • MBT 5353 - Income Taxation of Trusts & Estates 
    2 cr
    This course deals specifically with the income taxation of trusts and estates. It deals with simple, complex, and revocable trusts; grantor- and beneficiary-controlled trusts; estates; income in respect of decedents; trust accounting income and principal; distributable net income; terminations; excess distributions; post-death estate planning; and planning for distributions. prereq: Acct 5135
  • MBT 5381 - International Tax II 
    2 cr 
    This course takes a more in-depth analysis of the taxation of international businesses with a particular focus on sophisticated tax planning following the 2017 Act. It begins with starting both inbound (U.S.) and outbound (foreign) operations as either an unincorporated (branch) or incorporated entity. It includes issues regarding restricting operations and as well as liquidating and dispositions. Repatriation planning is also discussed. prereq: MBT 5380
  • MBT 5226 - Negotiation Techniques in Taxation
    2 cr
    This course studies the negotiation process including planning, pre-negotiation preparation, and strategy development that can be applied both in personal and business settings. Specific negotiation strategies for representing a client’s position before the IRS, including current appeal options. A very hands-on approach including mock negotiation role play. prereq: ACCT 5135
  • MBT 5370 - Property Transactions 
    2 cr 
    This course covers the study of federal taxation of property transactions involving real and personal property, corporate stock and partnership/LLC interests, and intangible property. Specific topics include determining realized and recognized gain or loss on property dispositions, capitalization and cost recovery, capital gains and losses, issues involving leveraged property and the at-risk and passive loss rules. prereq: Acct 5135
  • MBT 5335 - S Corporations 
    2 cr 
    This course covers the federal income taxation of small business (S) corporations, including 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; the advantages of S corporations; corporation liquidation and redemption rules; and the S corporation's built-in gains tax. prereq: Acct 5135; MBT 5230 recommended.
  • MBT 5382 - Transfer Pricing 
    2 cr 
    This course will provide an introduction to transfer pricing issues facing multinational businesses. The discussion will focus primarily on the application of the arm’s length standard as described in US Treasury Regulations 1.482, but also discuss application of transfer pricing legislation and regulations in other countries, largely through the application of the transfer pricing guidelines published by the Organization for Economic Cooperation and Development. The course will look at economic models, pricing policies, transaction accounting, and management of audits involving transfer pricing. prereq: ACCT 5135.
  • MBT 5350 - Wealth Transfer (Estates & Gifts) 
    2 cr 
    This course covers the taxation of transfers under federal estate and gift tax laws. Specific topics include property owned by decedent, retained life estates, transfers taking effect at death, revocable transfers, joint interests, powers of appointment, valuation, treatment of expenses, debts and taxes. Other topics include charitable bequests, marital deduction, taxable of inter vivos gifts, gift splitting and the use of various credits. prereq: Acct 5135.
  • MBT 5500 - Tax Policy 
    2 cr 
    Reviews the historical events and policies responsible for the enactment of the US income tax. Provides an understanding for the economic, social and budgetary "rationale" for producing the awfully complex Internal Revenue Code. Students are given the opportunity to express their experiences and views by preparing and presenting a "policy statement" on a particular tax provision of their choice. prereq: MBT 5230.

The Minnesota State Board of Accountancy grants 15 hours of continuing professional education (CPE) for each semester credit earned in the MBT Program.

The State of Minnesota Board of Continuing Legal Education awards continuing legal education (CLE) credits for MBT courses, but there is no standard formula. At the end of each term, the MBT office sends an email listing the number of CLE and CPE credits awarded for classes.

Students and Alumni on Real-World Application

Students and Alumni of the Master of Business Taxation program at the Carlson School of Management explain how well the learnings in the classroom can be used for real-world application on the job.

Contact Master in Business Taxation