Hello and welcome to our course on taxation. Before we get started, it's important to understand that this course is offered only for educational purposes. Nothing in this course should be construed as tax or legal advice. And, while we strive to make sure that all information of these lessons are correct, at least as of the date we're recording the lessons. Tax laws constantly change. So, you always want to make sure that you check with either the IRS or your applicable state taxing agency to make sure you get the latest information. We hope you enjoy the course. Hello, and welcome to the Gies College of Businesses, online course and state and local Taxation. I'm your instructor, Matthew Hutchens. By now, you've likely already taken a course in federal taxation. In that course, you learn the actual substantive rules and laws that govern taxation at a federal level in the United States. In other words, the taxes imposed by the United States government itself. Of course, federal taxation is governed by the law written by Congress and signed by the President, collectively known as the Internal Revenue Code. Along with Treasury Regulations, the IRS administrative interpretations, and decisions from federal courts resolving tax cases. Collectively, these sources make up the body of federal tax law. However, within the United States of America, there are 50 states plus the District of Columbia. Each state government also possesses the power of taxation. And because each state has its own government, its own elected officials, and its own laws, instead of a single tax code governing Multi-State Taxation, there are 51 tax codes for the states and DC. At least 51 different state tax agencies, although we'll learn that some states actually have multiple taxing agencies. And at least 51 different court systems hearing and deciding state tax cases. And, we can't forget about the numerous territories of the United States, along with an almost countless number of county cities and towns, and other local jurisdictions that impose some kind of tax. Therefore, the focus of this course will not be on the specific laws and rules of every state and local government. That would be an impossible task for the short course, nor will we focus on one particular state. Instead, we will strive to understand the general rules, limitations, and concepts that govern state and local taxation more broadly across the United States. Because in spite of the numerous number of state and local taxing jurisdictions, there is actually a fair amount of uniformity and the types of taxes used by state and local governments and their structural design. And a great deal of our course will be focused in on what happens when a taxpayer conducts business across state lines. Triggering the taxing jurisdiction of multiple states and municipalities. So knowing that, the layout of this course is as follows. In module 1, we'll be introduced to some of the foundational issues surrounding state and local taxation today, including the types of taxes commonly used by state and local governments. And some public finance considerations regarding the relationship between state and local tax revenues and the services provided by state and local governments. In module 2, we'll take a closer look at some of the limitations placed on the ability of state and local governments to tax. Many of these limitations come from the United States Constitution, some limitations come from acts of Congress. But in addition to these limitations imposed by the federal government, state taxing power is also constrained by provisions within each state's own constitution and each state's own laws. In module 3, we'll take a closer look at one type of taxes states rely on, which is the sales and use tax. In modules 4 through 6, we'll closely examine income taxes, including both individual income taxes and corporate income taxes. And then in module 7, we'll take a closer look at property taxes. Finally in module 8, we will conclude with a review and a comprehensive problem based on what we learned in modules 1 through 7. If at any point along the way you have a question regarding the course content or structure, please make sure you post in the course discussion board. If you're experiencing technical issues regarding Coursera, make sure you click that help button to find Coursera technical support. Welcome, and I hope you enjoy our virtual tax road trip through the United States.
