I have decided to record all my classes for the entire semester using Mediasite and not require in-person attendance. The recordings will be auto-posted to Brightspace. I dislike recordings intensely because they constrain what I say and ruin the classroom interaction, but I have to balance that against Covid infections.

Please contact NYU IT (askit@nyu.edu, 212-998-3333) or NYU Stern IT (helpdesk@stern.nyu.edu, 212-998-0180) for all ZOOM/email/NYU Brightspace/Admin/CapitalIQ issues. Please do not copy/contact me regarding such issues. If NYU/Stern support cannot help you, please contact Student Affairs/Dean's office. All emails are sent to the email address in the NYU Brightspace roster. NYU Brightspace lists @nyu.edu email for some of you and @stern.nyu.edu email for others. This mess is beyond my control. Please contact NYU/Stern support to learn how to read/forward/check spam for @nyu.edu and @stern.nyu.edu accounts. Their instructions are rather poor. Students do not realize that they are logged in as a Stern student and think they are checking their NYU email when they are still checking NYU Stern's email. Please use a new browser to ensure that you check NYU's email. Do not write to Almaris or me if you are not getting Almaris emails sent to the NYU email address because this issue is between NYU and you.

Overview

There are two versions of this course in Albert as shown below:

This course explains how taxes affect mergers, acquisitions, divestitures, valuation, capital structure, employee compensation, foreign operations, alternative investment vehicles, and deferred taxes, including net operating losses. The course also covers the key provisions of the 2017 Tax Cuts and Jobs Act.

The course is highly relevant to those pursuing careers in investment banking, corporate finance, research, private and public equity, and corporate tax law.

Takeaways

Learn how taxes affect the following decisions:

Help and Office

Disclaimers

Materials

Exams and Grading

Schedule

Class Topic
1
  • Fundamentals of corporate taxation and core tax concepts
2
  • Tax disclosures in financial statements: Current versus deferred taxes
3
  • Choice of form and entity classification
  • Capital structure decisions
  • Formation of a corporation and Section 351
4
  • Corporate income: Classification
  • Concept of Earnings and Profits
  • Consolidated versus separate tax returns
  • Inside versus outside basis
  • Taxation of shareholders
5
  • Non-liquidating distributions
  • Redemption distributions
  • Stock dividends
6
  • Liquidations
  • Sale of subsidiaries
7
  • Fundamentals of taxation of mergers and acquisitions
  • Asset purchase versus stock purchase
8
  • Section 338(g) election
  • Section 338(h)(10) election
  • Section 336 election
9
  • Non-taxable transactions
  • Section 368
  • Section 351
10
  • Tax Planning for Compensation
  • Stock compensation, Pensions, Health care

11
  • International taxation
  • GILTI, FDII, Participation Exemption, BEAT
  • Tax structuring
12
  • FINAL EXAM