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Minority Discounts, Fair Market Value, And The Culture Of Estate Taxation, William S. Blatt Jan 1997

Minority Discounts, Fair Market Value, And The Culture Of Estate Taxation, William S. Blatt

Articles

No abstract provided.


International Taxation Of Electronic Commerce, Reuven S. Avi-Yonah Jan 1997

International Taxation Of Electronic Commerce, Reuven S. Avi-Yonah

Articles

This article submits proposals for taxing the digital economy on the basis of the benefits and single tax principles.


Toward A Tax-Based Explanation Of The Liability Insurance Crisis, Kyle D. Logue Sep 1996

Toward A Tax-Based Explanation Of The Liability Insurance Crisis, Kyle D. Logue

Articles

The so-called liability insurance crisis of 1985 and 1986 transformed the way we think about tort law and about liability insurance markets. The crisis phenomena, which first appeared in late 1984 and lasted until mid-1986, consisted of enormous increases in liability insurance premiums and alarming reductions in the availability of certain types of liability coverage. In the two principal liability lines of insurance (Other Liability and Medical Malpractice), premiums increased by hundreds (in some cases thousands) of percentage points in a matter of months. At the same time, the availability of liability insurance contracted sharply. The liability policies that were …


The American Dream In Legislation: The Role Of Popular Symbols In Wealth Tax Policy, William S. Blatt Jan 1996

The American Dream In Legislation: The Role Of Popular Symbols In Wealth Tax Policy, William S. Blatt

Articles

No abstract provided.


Tax Transitions, Opportunistic Retroactivity, And The Benefits Of Government Precommitment, Kyle D. Logue Jan 1996

Tax Transitions, Opportunistic Retroactivity, And The Benefits Of Government Precommitment, Kyle D. Logue

Articles

What if the current federal income tax laws were repealed and replaced with a simple flat tax? What if the entire Internal Revenue Code (with its graduated rates and countless deductions, exclusions, and credits) were scuttled in favor of a broad-based consumption tax? Only a few years ago, such proposals would have seemed radical and extremely unlikely to be adopted. But times are changing. Calls for a drastic overhaul of the Internal Revenue Code have become commonplace, even at the highest levels in the tax-policy community. In addition, proposals that would replace the income tax with a flat-rate broad-based consumption …


The Structure Of International Taxation: A Proposal For Simplification, Reuven S. Avi-Yonah Jan 1996

The Structure Of International Taxation: A Proposal For Simplification, Reuven S. Avi-Yonah

Articles

The article explains the structure of the international tax regime and offers suggestions for improvement.


Virtual Taxation: Source-Based Taxation In The Age Of Derivatives, Reuven S. Avi-Yonah Jan 1996

Virtual Taxation: Source-Based Taxation In The Age Of Derivatives, Reuven S. Avi-Yonah

Articles

What are the implications of the explosive growth in the market for derivative financial instruments for international taxation? As Rosenbloom (1996) has pointed out, derivatives do not pose a particular international tax problem as long as one focuses on residence-based taxation. In that context, the issues raised by derivatives are the same as in a purely domestic context, which have been discussed extensively elsewhere (e.g., Warren, 1993). However, when the focus is on source-based taxation, and in particular source-based taxation of passive income (i.e., withholding taxes), the rise of derivatives has far-reaching implications. In 1994, then U.S. International Tax Counsel …


Faculty Spotlight - Kyle D. Logue, Kyle D. Logue Jan 1996

Faculty Spotlight - Kyle D. Logue, Kyle D. Logue

Articles

Most of my teaching and research efforts are currently spent in two general fields of law - taxation and insurance. Which raises an interesting question: Why would a rational person decide to devote a good portion of his academic career to areas of law that many people - lawyers and nonlawyers alike - find painfully boring and unreasonably complicated? The ta and insurance lawyers in the audience, of course, already know the answer - that ta ation and insuran e are e ceptionally interesting topics and that, if one wants to understand how the real world works (in particular, the …


The International Implications Of Tax Reform, Reuven Avi-Yonah Nov 1995

The International Implications Of Tax Reform, Reuven Avi-Yonah

Articles

This article examines the U.S. tax consequences of the use of derivative instruments in international financing transactions. The outline focuses in large part on the inconsistent U.S. tax treatment that results &om the use of various derivative financial instruments in cross-border financing transactions and the resulting implications for U.S. withholding taxes on ordinary equity and debt investments.


Taxation Of Damages After Schleier - Where Are We And Where Do We Go From Here?, Douglas A. Kahn Jan 1995

Taxation Of Damages After Schleier - Where Are We And Where Do We Go From Here?, Douglas A. Kahn

Articles

This article will examine the reasoning of the Schleier decision and speculate as to how taxation of pre-1996 damages will likely apply in light of Schleier. First, the article will set forth a very brief history of the judicial and administrative constructions of the statutory exclusion, and explore tax policy justifications for providing an exclusion from gross income for certain damages. These latter two items (set forth in Parts II and III of this article) are areas that have been extensively addressed previously by several commentators, including the author of this article.' The reason for exploring tax policy issues is …


Section 338 And Its Foolish Consistency Rules - The Hobgoblin Of Little Minds, Douglas A. Kahn Jan 1994

Section 338 And Its Foolish Consistency Rules - The Hobgoblin Of Little Minds, Douglas A. Kahn

Articles

The purposes of this Article are to examine whether there is any longer a reason for concern because a target corporation can choose selected assets for nonrecognition and to what extent the 1994 regulations properly deal with potentially abusive circumventions of tax goals. Before examining the current status of the consistency requirements, the historical background that led to the adoption of Section 338 and the operation of the section is discussed. The historical background includes: the judicially created Kimbell-Diamond rule, the codification and modification of that rule by the old version of Section 334(b)(2), the operation of the old version …


Liars Should Have Good Memories: Legal Fictions And The Tax Code, John A. Miller Jan 1993

Liars Should Have Good Memories: Legal Fictions And The Tax Code, John A. Miller

Articles

No abstract provided.


Rationalizing Injustice: The Supreme Court And The Property Tax, John A. Miller Jan 1993

Rationalizing Injustice: The Supreme Court And The Property Tax, John A. Miller

Articles

No abstract provided.


Reform Of The Taxation Of Mergers, Acquisitions, And Lbos, John A. Miller Jan 1993

Reform Of The Taxation Of Mergers, Acquisitions, And Lbos, John A. Miller

Articles

No abstract provided.


Indeterminacy, Complexity, And Fairness: Justifying Rule Simplification In The Law Of Taxation, John A. Miller Jan 1993

Indeterminacy, Complexity, And Fairness: Justifying Rule Simplification In The Law Of Taxation, John A. Miller

Articles

No abstract provided.


The Merger Puzzle, John A. Miller Jan 1993

The Merger Puzzle, John A. Miller

Articles

No abstract provided.


Section 902 Is Too Generous, George Mundstock Jan 1993

Section 902 Is Too Generous, George Mundstock

Articles

No abstract provided.


Taxation Of Business Rent, George Mundstock Jan 1992

Taxation Of Business Rent, George Mundstock

Articles

No abstract provided.


Compensatory And Punitive Damages For A Personal Injury: To Tax Or Not To Tax, Douglas A. Kahn Jan 1992

Compensatory And Punitive Damages For A Personal Injury: To Tax Or Not To Tax, Douglas A. Kahn

Articles

Since the adoption in 1919 of the Revenue Act of 1918, damages received on account of personal injuries or sickness have been excluded by statute from gross income.1 This exclusion, which does not apply to reimbursements for medical expenses for which the taxpayer was previously allowed a tax deduction,2 is presently set forth in section 104(a)(2). One might expect that a provision having recently attained the ripe age of 75 years without change in its basic language would have a settled meaning. However, recent litigation under section 104(a)(2) bristles with unsettled issues. Does the exclusion apply to punitive damages? To …


Qualified Plans And Identifying Tax Expenditures: A Rejoinder To Professor Stein, Edward A. Zelinsky Oct 1991

Qualified Plans And Identifying Tax Expenditures: A Rejoinder To Professor Stein, Edward A. Zelinsky

Articles

No abstract provided.


Community Income, Federal Income Taxation And Divorce, John A. Miller Jan 1991

Community Income, Federal Income Taxation And Divorce, John A. Miller

Articles

No abstract provided.


Lost On A One-Way Street: The Taxpayer's Ability To Disavow Form, William S. Blatt Jan 1991

Lost On A One-Way Street: The Taxpayer's Ability To Disavow Form, William S. Blatt

Articles

No abstract provided.


The Direct Investment Tax Initiatives Of The European Community: A View From The United States, Stanley I. Langbein, David H. Rosenbloom Jan 1990

The Direct Investment Tax Initiatives Of The European Community: A View From The United States, Stanley I. Langbein, David H. Rosenbloom

Articles

No abstract provided.


The Two Faces Of Tax Neutrality: Do They Interact Or Are They Mutually Exclusive?, Douglas A. Kahn Jan 1990

The Two Faces Of Tax Neutrality: Do They Interact Or Are They Mutually Exclusive?, Douglas A. Kahn

Articles

The term "tax neutrality" refers to at least two quite different concepts. In its most common usage, tax neutrality refers to tax provisions that conform to an ideal tax system. A tax provision that is consistent with such an ideal system is described as "neutral." A tax provision that cannot be reconciled with the ideal system is sometimes referred to as a "tax expenditure" item. I will discuss tax expenditures later in this paper.


State Administration Of A National Sales Tax: A New Opportunity For Cooperative Federalism, John A. Miller Jan 1989

State Administration Of A National Sales Tax: A New Opportunity For Cooperative Federalism, John A. Miller

Articles

No abstract provided.


The Latest Turn Of The Screw In Estate Planning: The Legislative Attack On Disproportionate Transfers, John A. Miller Jan 1989

The Latest Turn Of The Screw In Estate Planning: The Legislative Attack On Disproportionate Transfers, John A. Miller

Articles

No abstract provided.


Taxation And U.S. Multinational Investment, James R. Hines Jr. Jan 1988

Taxation And U.S. Multinational Investment, James R. Hines Jr.

Articles

In 1985, nonbank U.S. multinational companies employed 24.5 million workers, had worldwide sales of almost $3.5 trillion, and net income of $150 billion on assets of $4.2 trillion. The foreign (non-U.S.) affiliates of these companies had 6.4 million employees, $900 billion of those sales, and $43 billion of net income, with assets of $838 billion. United States multinationals accounted for roughly three-quarters of total American merchandise exports in 1985 and half of total imports, with approximately 40 percent of each category arising from transfers within U.S. multinationals between American parent firms and their own foreign affiliates. And 1985 is widely …


The Low-Income Housing Tax Credit: A Poor Solution To The Housing Crisis, Janet Stearns Jan 1988

The Low-Income Housing Tax Credit: A Poor Solution To The Housing Crisis, Janet Stearns

Articles

No abstract provided.


The Tax Treatment Of Qualified Plans: A Classic Defense Of The Status Quo, Edward A. Zelinsky Jan 1988

The Tax Treatment Of Qualified Plans: A Classic Defense Of The Status Quo, Edward A. Zelinsky

Articles

The current tax treatment of qualified pension and profit sharing plans has been criticized by commentators as an unfair and expensive tax expenditure. In this Article, Professor Zelinsky challenges this characterization and defends the current treatment of qualified plans on the ground that it is at least as attractive as its alternatives and superior to many of them. After evaluating the current treatment and the alternatives under the criteria of measurability, administrability, liquidity, equity, and simplicity, Professor Zelinsky concludes that the present treatment of qualified plans can be viewed as an acceptable part of a normative income tax.


Should General Utilities Be Reinstated To Provide Partial Integration Of Corporate And Personal Income—Is Half A Loaf Better Than None?, Douglas A. Kahn Jan 1988

Should General Utilities Be Reinstated To Provide Partial Integration Of Corporate And Personal Income—Is Half A Loaf Better Than None?, Douglas A. Kahn

Articles

The General Utilities doctrine is the name given to the now largely defunct tax rule that a corporation does not recognize a gain or a loss on making a liquidating or nonliquidating distribution of an appreciated or depreciated asset to its shareholders. The roots of the doctrine, can be traced to a regulation promulgated in 1919 that denied realization of gain or loss to a corporation when making a liquidating distribution of an asset in kind. No regulatory provision existed which specified the extent to which realization would or would not be triggered by a nonliquidating distribution such as a …