Tax Strategy Concentration
What is Tax Strategy?
Rather than a downstream outcome of corporate strategies and related transactions, tax is increasingly viewed by corporations as a strategic element that must be aligned with overall corporate strategy. Viewing tax as a strategic tool requires taking into account the tax implications of business activities and transactions with the goal of minimizing tax risks (compliance risks, reputational risks and so on) while at the same time adding value to the rest of the business.
A company’s tax strategy actively considers the impact of taxes on a variety of business decisions including but not limited to organization form (choice of business entity), mergers and acquisitions, executive compensation, multistate and global business expansion and supply chain management with the goal of managing tax risk and optimizing the effective tax rate.
Why should I consider a concentration in Tax Strategy?
The NC State MAC Program will provide you with an outstanding education that will prepare you for an entry-level position in the audit or tax practice of any public accounting firm as well as enhancing your ability to successfully complete the Uniform CPA Examination. Augmenting your accounting knowledge with additional coursework emphasizing tax strategy can strengthen your performance in core tax roles. In addition, it affords you an opportunity to explore career opportunities with large firms who have rapidly developed Tax Compliance and Consulting practice lines.
Which CPA Firms offer Tax Strategy Services?
Almost all public accounting firms offer extensive tax strategy advisory services to their clients. Our contacts at these firms report that tax strategy services is a rapidly growing practice area, and they will be expanding staff devoted to these practice lines over the next few years.
What are the requirements for a Tax Strategy concentration?
In addition to the eight required ACC courses and one open-ended MBA elective course (comprising 25 semester hours of coursework), students in the Tax Strategy Concentration will take two business management courses in the Tax area with wide application to tax strategy issues. One course is MBA 525, Taxes and Business Strategy. This course focuses on the importance of tax considerations in business decisions, and provides a framework for understanding how taxes affect business strategy and financing decisions in a wide variety of settings. The second concentration course is MBA 590, Corporate Tax Strategy, which discusses the tax and auditing aspects related to income tax provisions of publicly-held multinational corporations’ financial statements and accompanying disclosures. Particular emphasis is placed on income tax risks, controls to help mitigate such risks, and substantive audit procedures related to the income tax provision.
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