Law Commons^™

Book Reviews, Henry N. Wieman, Jerome Hall

Vanderbilt Law Review

The problem discussed by Professor Stumpf in his book Morality and the Law can be summarized by these questions: Do we have two kinds of prescribed conduct, one prescribed by morality independent of the government, the other prescribed by government independent of morality? Or is prescription by government necessarily moral because government is necessarily moral by reason of being the government? If not, under what conditions, if any, does prescription by government become a moral prescription? Under what conditions, if any, is government, by law, a matter of expedience, not to be confused with morality?

reviewer: Henry Nelson Wieman

============================== …

Recent Cases, Law Review Staff

Vanderbilt Law Review

Civil Rights--Federal Criminal Code Protects Rights Secured by Fourteenth Amendment

==========================

Civil Rights--Removal--Strict Interpretation of Federal Removal Statute Affirmed

===========================

Labor Law--Judicial Review of Arbitrator's Authority To Imply Contractual Condition

===========================

Labor Relations--Federal Preemption of Defamation Suits Arising in Course of Organizational Campaign

===========================

State and Local Taxation--Economic Exploitation Sufficient Connection To Require Non-Resident Seller To Collect Use Tax

A Tax Formula To Restore The Historical Effects Of The Antitrust Treble Damage Provisions (An Open Letter To The Senate Antitrust And Monopoly Committee), L. Hart Wright

Michigan Law Review

Following the well-publicized criminal conviction of a major segment of our electrical equipment industry for conspiring to fix and maintain prices, terms, and conditions of sales made to both private industry and the government, almost 2,000 private antitrust treble damage suits were brought against those convicted. In July, 1964, when at least 1,500 of these suits were still pending, the Commissioner of Internal Revenue publicly announced that amounts paid or "incurred" by the defendants in those actions to private plaintiffs, either pursuant to judgment or by way of settlement, together with legal expenses pertaining thereto, were deductible as ordinary and …

Depreciation And The Reserve Ratio Test, J. Timothy Phillips

West Virginia Law Review

No abstract provided.

Income Splitting As A Means Of Avoiding Taxes, Allen T. Malone

Vanderbilt Law Review

The purpose of this note is to examine the present tax treatment of the three most popular income splitting devices used to avoid taxes: the family partnership, multiple trusts, and multiple corporations. In Part II, the various congressional and judicial limits and sanctions imposed upon these devices will be discussed along with recently proposed regulatory legislation. Part III will consist of an evaluation of the suggested limitations upon the use of income splitting devices. The ultimate concern of this note is to arrive at some conclusions as to the general approach and the specific methods best suited (1) to regulate …

Real Property Depreciation Recapture: An Ineffectual Reform Of The Tax Laws, Charles S. Franklin

Vanderbilt Law Review

This note stems from a belief that an asymmetrical body of tax laws is a challenge to the legal profession which, by training, experience and tradition, is well situated to spur and guide reform. It is my intention to outline the story of but one section of the Internal Revenue Code: why it was proposed, what it sought to do, how it underwent modification by an unsympathetic congressional committee, and how it was finally enacted as a superficial compromise with the underlying asymmetry of our tax laws. In short, what follows is an appended bar in the organ theme entitled …

Federal Tax Liens In Bankruptcy

Washington and Lee Law Review

No abstract provided.

Problems In The Tax-Free Incorporation Of A Business, Stanley Weiss

Indiana Law Journal

No abstract provided.

The Estate Tax Marital Deduction-Revenue Procedure 64-19

Indiana Law Journal

No abstract provided.

Family Partnerships And The Federal Income Tax

Indiana Law Journal

No abstract provided.

Selected Tax Aspects Of Divorce And Property Settlements

Indiana Law Journal

No abstract provided.

Anticipation Of Income, Paul A. Teschner

Indiana Law Journal

No abstract provided.

Tax Aspects Of Partnership Distributions And Transfers Of Partnership Interests, Taxing Statutes, Robert R. Milroy

Indiana Law Journal

No abstract provided.

The Treasury Report On Foundations:Methods Of Enforcing Compliance, Thomas R. Allen

Vanderbilt Law Review

If Professor Sacks is correct in his cyclical view of the public concern over charitable foundations, the present period must surely be classed as one of maximum turbulence. At the moment both houses of Congress have had presented to them proposals for levying new restrictions on charitable foundations through the tax law, a flood of law review comments has appeared, and at the state level new legislation, partly directed to control of charitable foundations, has been proposed, and in some cases adopted...As this paper is concerned primarily with sanctions, only those proposals in the Treasury Report for which no sanctions …

Taxation And Interstate Commerce, Raymond Albert Hinerman

West Virginia Law Review

No abstract provided.

Abstracts Fo Recent Cases, Ellen Fairfax Warder

West Virginia Law Review

No abstract provided.

New Importance For Section 482 Of The Internal Revenue Code, Robert N. Lent

William & Mary Law Review

No abstract provided.

Burden Of Proof In Tax Litigation: Offset And Equitable Recoupment, Richard M. Johnson

Buffalo Law Review

No abstract provided.

Income Tax--Corporate Reorganizations-Spin-Offs, Raymond Albert Hinerman

West Virginia Law Review

No abstract provided.

Taxation--Constitutional Aspects Of Tangible Property Assessments, Edward Garfield Atkins

West Virginia Law Review

No abstract provided.

The Accumulated Earnings Tax And The Problem Of Diversification, James C. Westin

Michigan Law Review

While diversification is now considered a legitimate corporate need authorizing the accumulation of earnings and profits, the present standards of the Regulations under section 531, which, in general, test the reasonableness of corporate accumulations by the requirement of "specific, definite, and feasible plans" for use of the funds, seem too restrictive in terms of the problems of diversification as outlined above. In light of this criticism and of recent developments, the purposes of this comment are (1) to indicate the basic principles of section 531, an understanding of which is vital to corporations anticipating retention of funds for the purpose …

Legislation, Law Review Staff

Vanderbilt Law Review

An examination of the current status of state net income taxation on interstate business logically begins with the decision in Northwestern Portland Cement Co. v. Minnesota and its companion case Williams v. Stockham Valves & Fitting, Inc.' There the United States Supreme Court held that an apportioned, nondiscriminatory excise tax imposed by a state on the net income of a foreign corporation does not violate either the due process clause or the commerce clause of the federal constitution, even though the income is derived solely from interstate commerce. Mr. Justice Frankfurter, dissenting, warned that increased burdens of bookkeeping necessary to …

Joint Tenancy: The Estate Lawyer's Continuing Burden, John E. Riecker

Michigan Law Review

The discussion which follows will be divided into three major parts. First, it will be important to see why so much real and personal property remains in joint tenancy between husband and wife or in entireties tenancy. It has been almost eighteen years since Congress eliminated the necessity of holding property in this form in order to split income therefrom for income tax purposes. Is inertia the only reason for the popularity of joint ownership, or are there other reasons? Second, we shall review the familiar but false assumptions most laymen (and even a few attorneys) commonly make regarding the …

Principal And Income Allocation Of Stock Distributions--The Six Per Cent Rule, Michael C. Devine

Michigan Law Review

A productive trust is usually dynamic in two ways: the principal assets appreciate in value, and their use produces income. When the beneficial interests in such a trust are successively divided between income recipients and principal remaindermen, every payment to the trust must be characterized either as income or as an addition to principal. The most difficult categorization problems arise when the receipt is of corporate stock.

Bootstraps And Capital Gain--A Participant's View Of Commissioner V. Clay Brown, William H. Kinsey

Michigan Law Review

A closely held corporation may be sold in a variety of ways. At one end of the spectrum is an all-cash sale. In such a transaction, the seller receives the purchase price and has no further concern with the economic well-being of the business. The difficulty with this method, of course, is finding a purchaser with sufficient cash who is willing to pay a fair price.

At the other end of the spectrum is a full-fledged bootstrap sale, where there is no down payment other than from the underlying assets of the sold corporation, and the purchaser's obligation to pay …

Income Tax--Alimony Pursuant To An Invalid Divorce, Raymond Albert Hinerman

West Virginia Law Review

No abstract provided.

Payments To A Corporation Officer's Widow In Indiana

Indiana Law Journal

No abstract provided.

Income Tax Validity Of Invalid Migratory Divorces And The Rule Of Validation, Thomas J. Tumola

Villanova Law Review

No abstract provided.

Income Tax-Deductions-Lessor's Amortization Of The Amount By Which The Purchase Price Of Improved Realty Exceeds The Appraised Value Of Land-Bender V.United States, Michigan Law Review

Michigan Law Review

Taxpayer, upon being informed that his tenant would not renew his lease unless he could be assured of additional parking facilities, purchased three lots adjacent to the leasehold and immediately demolished the houses thereon in order to provide the necessary space. Since the owners of these residential properties knew of taxpayer's special need, taxpayer was forced to pay substantially more than the total appraised value of the land. In computing his income tax, taxpayer sought to amortize over the life of the lease the cost of razing the buildings and the amount of the purchase price in excess of the …

Equitable Considerations Held Not Applicable To Defense Of Lack Of Overpayment--Dysart V. United States, Michigan Law Review

Michigan Law Review

Taxpayer treated the proceeds of a judgment recovered in 1954 as capital gain. Although the Commissioner of Internal Revenue did not object to the capital-gain treatment, he assessed a penalty tax for failure to report the judgment in a declaration of estimated income for 1954. In 1958 the regulation providing for the penalty tax was declared invalid, and taxpayer filed a timely claim for refund. Although an independent affirmative action by the Commissioner contesting the 1954 return would have been barred by the statute of limitations, the Commissioner disallowed the refund, contending that because the proceeds of the 1954 judgment …