Tax Law

Business, Legal & Accounting Glossary

Definition: Tax Law



Full Definition of Tax Law


Tax law is the codified system of laws that describes government levies on economic transactions, commonly called taxes.

Major Issues

Primary taxation issues in the United States would include taxes on: income, capital gains, retirement accounts, estates, gifts, corporations, LLCs, partnerships, or taxes on specific investment products or types.

Tax Education From Law Schools

In law schools, “tax law” is a subdiscipline and area of specialist study. Tax law specialists are often employed in consultative roles, and may also be involved in litigation. Many U.S. law schools require about 30 semester credit hours of required courses and approximately 60 hours or more of electives. Law students pick and choose available courses on which to focus before graduation with a J.D. degree in the United States. This freedom allows law students to take many tax courses such as federal taxation, estate and gift tax, and estates and successions before completing the Juris Doctor and taking the bar exam in a particular U.S. state.

There are many fine LLM or Masters in Laws Graduate programs in the United States. Many of these programs offer the opportunity to focus on domestic and international taxation. Most LLM programs require that the candidate be a graduate of an accredited law school.

Tax Education From Business School Programs

There are hundreds of accredited business schools in the USA. Many are accredited by the AACSB or ACBSP or recognized by AAFM. These undergraduate or graduate programs may allow the student to major or graduate with a tax-related degree such as a Masters in Taxation. Also, the undergraduate focus on accounting would allow a student to go the Certified Public Accountant (CPA) track. After a student completes the individual state or jurisdictional requirements for accounting, the applicant may sit for the Uniform Certified Public Accountant Examination.


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Definition Sources


Definitions for Tax Law are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 25th April, 2020 | 0 Views.