Millard S. Breckenridge received his Ph.B. from the University of Chicago in 1917, followed by a law degree from Yale in 1918. He served as an assistant professor at Iowa from 1922 to 1924. He also taught law at Case Western Reserve, University of North Carolina, and UC-Hastings. The University of North Carolina bestows an honor called the Millard S. Breckenridge Award for excellence in the study of taxation.