ABA Law Student Tax Challenge:
*scroll down for latest e-mail regarding tax challenge!
An alternative to traditional moot court competitions, the Law Student Tax Challenge asks two-person teams of students to solve a cutting-edge and complex business problem that might arise in everyday tax practice.
Past topics have included:
* Cash-rich international split-offs
* Merger and acquisition issues
* Section 83(b) elections
* Cancellation of debt in an executive loan program
Teams are initially evaluated on two criteria: a memorandum to a senior partner and a letter to the client explaining the result. Based on this written work product, 6 teams from the J.D. Division will receive a free trip (including airfare and accommodations for two nights) for the Section’s Midyear Meeting, where they will defend their submissions before a panel of some of the country's top tax lawyers.
It’s Time for the Law Student Tax Challenge (LSTC)!
The Law Student Tax Challenge is a great way for law students to showcase their knowledge in a real-world setting and gain valuable exposure to the tax law community. An alternative to traditional moot court competitions, the LSTC asks two-person teams of J.D. and LL.M. students to solve a cutting-edge and complex business problem that could arise in everyday tax practice.
The students’ written submissions are evaluated by a panel of judges, and the winners of the written round go on to present their oral summations to some of the top tax practitioners in the country. Winners of the competition receive a free trip to the Section’s Midyear Meeting, as well as cash prizes and recognition at Tax Section events and in publications. The upcoming Midyear Meeting will be held in New Orleans, LA, January 8-10, 2009.
How Does the Challenge Work?
· Each J.D. or LL.M student teams up with another student from his/her school, and may select a professor to coach and assist.
· Together, students work on written submissions, including a memorandum to a senior partner and a letter to the client explaining the result of the problem.
· Finalists are chosen based on the evaluations of their written submissions. Six teams from the J.D. Division and four teams from the LL.M. Division receive a free trip (including airfare and accommodations for two nights) for the Tax Section's 2009 Midyear Meeting, January 8-10 at the Sheraton, New Orleans, LA, where they defend their submissions before a panel judges comprised of the country's top tax lawyers.
LSTC 2008 Problem:
Inspired by the setting for the Section’s 2009 Midyear Meeting, this year’s problem asks students to advise a fictional client on a favorable tax strategy in order to take advantage of tax credits available for economic development in and around New Orleans, Louisiana. In addition to examining the role of tax credits, the problem also asks participants to consider the allocation of such credits back to the funding entity.
Past oral-round judges have included Tax Court judges, representatives from the office of IRS Chief Counsel, DOJ and Treasury officials, tax partners in major law firms and others.
For further details about the Law Student Tax Challenge, this year’s problem and the LSTC rules please visit the LSTC web site.
National Tax Moot Court Competition:
Schools are allowed to enter more than one team only if less than sixteen schools register. Each team shall consist of two or three students, all of whom must be full time law students at the time of the competition. Teams will be allowed entry on a first come, first served basis upon receipt of both the completed registration form and payment of the entry fees. The format of the competition consists of a first round double elimination oral argument followed by single elimination quarterfinals, semifinal and final rounds. There is a separate competition for written briefs, with independent judging and awards. The problem consists of three or four issues, all tax related. For preliminary rounds of the oral argument competition, judges are made up of attorneys who are members of The Florida Bar Tax Section. The final & consolation rounds consist of judges from the United States Tax Court.