ABA Law Student Tax Challenge Releases This Year's Problem

The ABA Section of Taxation Young Lawyers Forum yesterday released the Problem, updated rules (J.D.; LL.M.), and entry forms (J.D.; LL.M.) for the 8th Annual Law Student Tax Challenge:

For the eighth consecutive year, the Young Lawyers Forum of the ABA Section on Taxation will sponsor its Law Student Tax Challenge competition. 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. 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.

Teams competing in the Law Student Tax Challenge will be 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, six teams from the J.D. Division and four teams from the LL.M. Division will receive a free trip (including airfare and accommodations for two nights) for the Section's 2009 Midyear Meeting in New Orleans, Louisiana, where they will defend their submissions before a panel of some of the country's top tax lawyers.

Upcoming Deadlines:

• Nov. 7, 2008: Written Submissions Due
• Dec. 19, 2008: Semi-Finalists Notified
• Jan. 9, 2009:  Oral Rounds at Section of Taxation Midyear Meeting

For the results, problems, winning answers, judges, and entrants for the prior competitions (2001-2007), see here. For TaxProf Blog coverage of prior winners, see 2007, 2006, and 2005.