1 Master of Business Taxation Program Summer 2010 Update May 15, 2010 Thank you for your interest in, and support of, the Master of Business Taxation (MBT) program at the University of Minnesota’s Carlson School of Management. The following slides provide an overview of : Upcoming Events Curriculum Update Required Courses Suggested Corporate Tax Electives Suggested Middle Market Tax Electives Course Schedule (subject to change) Online Electives Program Planner More information is available at by calling ourwww.carlsonschool.umn.edu/mbt office at (612) , or by ing me at Mark A. Sellner CPA, JD, LLM (taxation), CFP® Director, MBT Program (612)

2 Master of Business Taxation Program Upcoming Events MBT Reunion Lunch Friday, October 1, 2010 Carlson School of Management Gary Carter Fred Jacobs After 25 years as an outstanding instructor and mentor of MBT and Carlson School students, Gary Carter is retiring from academia to focus on his accounting practice. Gary has been recognized twice with The Green Eyeshade Accounting Instructor of the Year Award. More on Gary’s background is available at his Profile PageProfile Page Please join us on Friday, October 1, 2010 at the Carlson School Reunion to wish Gary well and to greet MBT’s founder and retired Director Fred Jacobs. Registration will be open at

3 MBT New Student Orientation Friday, June 18, 2010 Thursday, August 26, 2010 Monday, January 3, 2011 U of M Homecoming Weekend Friday-Saturday, October 1-2, 2010 Minnesota Society of CPAs 56 th Annual Tax Conference Monday-Tuesday, November 15-16, 2010 MBT Graduation Monday, May 16, 2011 Master of Business Taxation Program Upcoming Events

4 Master of Business Taxation Program Curriculum Update 1.Effective Fall 2010 Term A, the Common Body of Knowledge requirements will be eliminated. ACCT 2050 Introduction to Financial Reporting and ACCT 5135 Fundamentals of Federal Income Tax, or equivalent college level courses, will continue to be prerequisites for MBT coursework. BLAW 3058 The Law of Contracts and Agency, or an equivalent college level course, will be required before MBT graduation. Current students, as well as newly-admitted students, no longer need to complete the previous Common Body of Knowledge requirements.

5 Master of Business Taxation Program Curriculum Update 2.Effective Fall 2010 Term A, the Plan B writing requirement will be eliminated. Required course MBT 5220 Tax Research will continue to include a significant writing component. However, graded papers will no longer need to be submitted to fulfill the MBT graduation requirements. Current students, as well as newly-admitted students, no longer need to submit any Plan B papers for graduation.

6 Master of Business Taxation Program Curriculum Update 3.Effective Fall 2010 Term A, MBT 5323 Mergers and Acquisitions will move to Spring 2011 Term B. 4.Effective Spring 2011 Term A, MBT 5500 Tax Policy will be a required 2- credit, rather than a 4-credit, course. The course will meet Spring Term A. 5.Effective Spring 2011 Term B, MBT 5150 Current Financial Accounting Issues will be an elective, rather than a required, course.

7 Master of Business Taxation Program Required Courses Application Transcripts GMAT Adviser Meeting Tax Research MBT 5220 Tax Accounting Methods and Periods MBT 5200 Corporate Tax MBT 5230 Tax Policy MBT 5500 Business Law BLAW 3058 or equivalent MBT PREREQUISITE ACCT 2050 Introduction to Financial Reporting or equivalent MBT PREREQUISITE ACCT 5135 Fundamentals of Federal Income Tax or equivalent 4 credits 2 credits No MBT credit The MBT program consists of 30 credits, including 12 credits of required courses and 18 elective credits.

8 Master of Business Taxation Program Suggested Corporate Tax Electives [all electives are 2 credits] Corporate Tax (Required Course) FAS 109 MBT 5346 Mergers and Acquisitions MBT 5323 Consolidated Returns MBT 5333 International Tax MBT 5380 State and Local Tax MBT 5360 Transfer Pricing MBT 5382 Property Transactions MBT 5370 Partnership Tax MBT 5340 Taxation of Manufacturers MBT 5373 Current Financial Accounting MBT 5150

9 Master of Business Taxation Program Suggested Middle Market Tax Electives [all electives are 2 credits, except 3-credit online courses] Research or Accounting Methods (Required Courses) S Corporations MBT 5335 Partnership Tax MBT 5340 State and Local Tax MBT 5360 Property Transactions MBT 5370 International Tax MBT 5380 Taxation of Manufacturers MBT 5373 FAS 109 MBT 5346 Estate and Gift Tax MBT 5350 Compensation and Benefits MBT 5363 or Online Trusts and Estates MBT 5353 or Online

10 Master of Business Taxation Program Course Schedule Summer 2010 Monday Partnerships Tuesday S Corporations Wednesday Transfer Pricing Thursday Taxation of Manufacturers

11 Master of Business Taxation Program Course Schedule Fall 2010 Term A Monday Corporate Tax Tuesday Accounting Methods [Full Semester] Wednesday Research [Full Semester] Thursday International Tax

12 Master of Business Taxation Program Course Schedule Fall 2010 Term B Monday FAS 109 Tuesday Accounting Methods [Full Semester] Wednesday Research [Full Semester] Thursday Property

13 Master of Business Taxation Program Course Schedule Spring 2011 Term A Monday Corporate Tax or Trusts & Estates Tuesday Tax Policy or FAS 109* Wednesday Tax Research* [Full Semester] Thursday State and Local * U of M, not MBT, Spring Semester Schedule

14 Master of Business Taxation Program Course Schedule Spring 2011 Term B Monday M&A Tuesday Comp & Benefits or Current Financial Accounting Wednesday Tax Research* [Full Semester] or Estate and Gift Thursday Consolidated Returns * U of M, not MBT, Spring Schedule

15 Master of Business Taxation Program Online Electives MBT degree candidates may, with advance permission of the Director of the MBT program, transfer credits from up to two elective courses from online graduate tax programs. MBT required courses may not be completed online. Possible online electives include: Fall 2010 Employee Compensation and Advanced Individual Taxation Issues (3 credits) Spring 2011 Estates, Trusts, and Fiduciary Taxation (3 credits) Please contact Mark Sellner, Director of the MBT program, at for more information.

16 Master of Business Taxation Program Program Planner Fall Term A 20____ ____________________________ Fall Term B 20____ ____________________________ Spring Term A 20____ ____________________________ Spring Term B 20____ ____________________________ Summer Term 20____ ____________________________