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Viewing: ARE 420 : Taxation in Agriculture, Production, and Agribusiness

Last approved: Tue, 30 Aug 2016 14:53:53 GMT

Last edit: Tue, 30 Aug 2016 14:53:53 GMT

Change Type
Major
ARE (Agricultural Economics)
420
032362
Dual-Level Course
No
Cross-listed Course
No
Taxation in Agriculture, Production, and Agribusiness
Ag Taxation
College of Agriculture and Life Sciences
Agriculture and Resource Economics (11ARE)
Term Offering
Spring Only
Offered Alternate Even Years
Summer 2 2016
Previously taught as Special Topics?
Yes
2
 
Course Prefix/NumberSemester/Term OfferedEnrollment
ARE 495-003Spring 201611
ARE 495-003Spring 201521
Course Delivery
Face-to-Face (On Campus)

Grading Method
Letter Grade Only
3
16
Contact Hours
(Per Week)
Component TypeContact Hours
Lecture3
Course Attribute(s)


If your course includes any of the following competencies, check all that apply.
University Competencies

Course Is Repeatable for Credit
No
 
 
Guido van der Hoeven
Senior Lecturer & Extension Specialist

Open when course_delivery = campus OR course_delivery = blended OR course_delivery = flip
Enrollment ComponentPer SemesterPer SectionMultiple Sections?Comments
Lecture5050NoCourse will be offered initially to 30, with anticipation to increase to 50 students in future years.
Open when course_delivery = distance OR course_delivery = online OR course_delivery = remote
Prerequisites: ARE 215 or ARE 303 or ARE 304 or ARE 321
Is the course required or an elective for a Curriculum?
Yes
SIS Program CodeProgram TitleRequired or Elective?
11AGBUSBSAgricultural Business ManagementElective
Students will explore the effect of various tax obligations on farms and rural agribusinesses. Topics of discussion include income taxation, both federal and state, Social Security taxation, property taxation, sales and use taxation, and estate and gift taxation.

ARE has conducted Ag Tax extension seminars for several years, industry feedback indicates a need for increased knowledge regarding Taxation for a portion of the ARE student base.  In response to this industry feedback this course has been offered successfully as Special Topics, and is now being added as a regular course catalog offering for future years.


No

Is this a GEP Course?
No
GEP Categories

Humanities Open when gep_category = HUM
Each course in the Humanities category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Mathematical Sciences Open when gep_category = MATH
Each course in the Mathematial Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

Natural Sciences Open when gep_category = NATSCI
Each course in the Natural Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

Social Sciences Open when gep_category = SOCSCI
Each course in the Social Sciences category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Interdisciplinary Perspectives Open when gep_category = INTERDISC
Each course in the Interdisciplinary Perspectives category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Visual & Performing Arts Open when gep_category = VPA
Each course in the Visual and Performing Arts category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
 

 
 

Health and Exercise Studies Open when gep_category = HES
Each course in the Health and Exercise Studies category of the General Education Program will provide instruction and guidance that help students to:
 
 

 
 

 
 

 
 

 
&
 

 
 

 
 

 
 

Global Knowledge Open when gep_category = GLOBAL
Each course in the Global Knowledge category of the General Education Program will provide instruction and guidance that help students to achieve objective #1 plus at least one of objectives 2, 3, and 4:
 
 

 
 

 
Please complete at least 1 of the following student objectives.
 

 
 

 
 

 
 

 
 

 
 

US Diversity Open when gep_category = USDIV
Each course in the US Diversity category of the General Education Program will provide instruction and guidance that help students to achieve at least 2 of the following objectives:
Please complete at least 2 of the following student objectives.
 
 

 
 

 
 

 
 

 
 

 
 

 
 

 
 

Requisites and Scheduling
 
a. If seats are restricted, describe the restrictions being applied.
 

 
b. Is this restriction listed in the course catalog description for the course?
 

 
List all course pre-requisites, co-requisites, and restrictive statements (ex: Jr standing; Chemistry majors only). If none, state none.
 

 
List any discipline specific background or skills that a student is expected to have prior to taking this course. If none, state none. (ex: ability to analyze historical text; prepare a lesson plan)
 

Additional Information
Complete the following 3 questions or attach a syllabus that includes this information. If a 400-level or dual level course, a syllabus is required.
 
Title and author of any required text or publications.
 

 
Major topics to be covered and required readings including laboratory and studio topics.
 

 
List any required field trips, out of class activities, and/or guest speakers.
 

No new resources are required for this course. The course has been taught as Special Topics within the appointment load of the instructor, and will continue to be taught within their normal load as a regular catalog course in the future.

Upon completion of the course, students will be able to:


1) Calculate marginal income tax rates using various management strategies for individuals and know how to manage income tax liabilities of sole proprietorships and "flow-through" business entities for federal and state taxation


2) Calculate impacts of estate and gift tax, if applicable, through a business transition 


3) Calculate the deferred property tax value for agricultural, horticultural and forestry lands in North Carolina


4) Know when sales taxes apply to value added agricultural based businesses and calculate that sales tax value


5) Calculated self-employment and Payroll taxes of agricultural businesses


Student Learning Outcomes

Upon completion of the course, students will be able to:


1) Calculate marginal income tax rates using various management strategies for individuals and know how to manage income tax liabilities of sole proprietorships and "flow-through" business entities for federal and state taxation


2) Calculate impacts of estate and gift tax, if applicable, through a business transition 


3) Calculate the deferred property tax value for agricultural, horticultural and forestry lands in North Carolina


4) Know when sales taxes apply to value added agricultural based businesses and calculate that sales tax value


5) Calculated self-employment and Payroll taxes of agricultural businesses


Evaluation MethodWeighting/Points for EachDetails
Multiple exams40%Two exams weighted 20% each.
Homework20%Homework researching “current events” used as preparation for exams and class discussion.
Major Paper15%Research paper on a topic agreed upon by each student and the instructor.
Final Exam25%Cumulative final exam given during university scheduled exam period.
TopicTime Devoted to Each TopicActivity
Please see schedule in attached syllabus
svhoward: corrected syllabus attached
aeherget (Wed, 17 Aug 2016 13:52:44 GMT): AECHH: Robin Clements provided syllabus August 17, 2016.
Key: 10395