Law Commons^™

Balancing The Carrot And The Stick: Achieving Social Goals Through Real Property Tax Programs, Ryan F. Bender

Northwestern Journal of Law & Social Policy

The sharp and growing wealth divide in the United States has elicited significant media and public attention over the past decade, with loud calls for achieving social goals through tax system change. While wealth preservation loopholes in the Internal Revenue Code can contribute to wealth inequalities, tax policies that incentivize socially responsible, tax efficient investment offer an attractive tool for estate planning professionals while also promoting social impact programs. Additionally, while direct government investments into low-income community development, land preservation, and food security are important drivers of change, tax policies that push private capital into these causes are equally important …

Dynamic Property Taxes And Racial Gentrification, Andrew T. Hayashi

Notre Dame Law Review

Many jurisdictions determine real property taxes based on a combination of current market values and the recent history of market values, introducing a dynamic aspect to property taxes. By design, homes in rapidly appreciating neighborhoods enjoy lower tax rates than homes in other areas. Since growth in home prices is correlated with—and may be caused by—changing neighborhood demographics, dynamic property taxes will generally have racially disparate impacts. These impacts may explain why minority-owned homes tend to be taxed at higher rates. Moreover, the dynamic features of local property taxes may subsidize gentrification and racially discriminatory preferences.

Money That Costs Too Much: Regulating Financial Incentives, Kristen Underhill

Indiana Law Journal

Money may not corrupt. But should we worry if it corrodes? Legal scholars in a range of fields have expressed concern about “motivational crowding-out,” a process by which offering financial rewards for good behavior may undermine laudable social motivations, like professionalism or civic duty. Disquiet about the motivational impacts of incentives has now extended to health law, employment law, tax, torts, contracts, criminal law, property, and beyond. In some cases, the fear of crowding-out has inspired concrete opposition to innovative policies that marshal incentives to change individual behavior. But to date, our fears about crowding-out have been unfocused and amorphous; …

Defining Fishing, The Slippery Seaweed Slope, Ross V. Acadian Seaplants Ltd., Rebecca P. Totten

Ocean and Coastal Law Journal

In Maine, the intertidal zone has seen many disputes over its use, access, and property rights. Recently, in Ross v. Acadian Seaplants, Ltd., the Maine Supreme Judicial Court, sitting as the Law Court, held that rockweed seaweed in the intertidal zone is owned by the upland landowner and is not part of a public easement under the public trust doctrine. The Court held harvesting rockweed is not fishing. This case will impact private and public rights and also the balance between the State's environmental and economic interests. This Comment addresses the following points: first, the characteristics of rockweed and the …

The Federal Law Of Property: The Case Of Inheritance Disclaimers And Tenancy By The Entireties, David Gray Carlson

Washington and Lee Law Review

No abstract provided.

Taxation, Craig D. Bell

University of Richmond Law Review

This article reviews significant recent developments in the laws

affecting Virginia state and local taxation. Each section covers

legislative activity, judicial decisions, and selected opinions or

pronouncements from the Virginia Tax Department (the "Tax

Department") and the Virginia Attorney General over the past

year.

International Tax Free Exchanges: The Structure Of I.R.C. Section 367, Vikram A. Gosain

Georgia Journal of International & Comparative Law

No abstract provided.

A Bundle Of Confusion For The Income Tax: What It Means To Own Something, Stephanie Hunter Mcmahon

Northwestern University Law Review

No abstract provided.

Belk V. Commissioner: Land Substitutions In Conservation Easements, Morgan Davis

Loyola of Los Angeles Law Review

No abstract provided.

The Legality Of California Development Fees, Erik B. Michelsen

Pepperdine Law Review

No abstract provided.

Has The Time For Large Gaming Property Involved Reits Finally Arrived?: A Review Of The Potential For Reit Investment In Destination Gaming Resort Properties, Simon Johnson

UNLV Gaming Law Journal

Destination gaming resorts demand massive amounts of capital in order to fund their investment in real property, much of which comprises areas where they realize predominantly passive business, including the hotel tower. Consequently, they generate substantial income from passive business, such as fees for hotel occupancy, even as most of their income is attributable to active business, such as gaming and personal services. Because they blend separable passive and active real property, a REIT can theoretically acquire all or some of the real property, realizing income under an operator lease with a substantially unrelated gaming or hotel lessee. Alternatively, a …

Private And Public Construction In Modern China, Gregory M. Stein

San Diego International Law Journal

During the past three decades, real estate development in China has proceeded at an astonishing pace, with much development occurring before China's 2007 adoption of its first modern law of property. Investors thus spent hundreds of billions of dollars in the real estate market of a nation that, during most of this period, had not formal property law. How can a huge nation modernize so rapidly and dramatically when its legal system furnishes such uncertainty? And how can this happen in a nation that still purports to subscribe to socialist ideology? I set out to answer these questions by interviewing …

Taxation, Craig D. Bell

University of Richmond Law Review

No abstract provided.

Taxation, Craig D. Bell

University of Richmond Law Review

No abstract provided.

Property Law: The Uniform Conservation Easements Act: An Attorney's Guide For The Oklahoma Landowner, Erin Mcdaniel

Oklahoma Law Review

No abstract provided.

The Hidden Costs Of The Progressivity Debate, Nancy C. Staudt

Vanderbilt Law Review

Progressive taxation-taxing high income individuals at a proportionally higher level than low income individuals-has sparked more than a century of controversy. Those who support progressive taxation have heralded it as a policy that promotes the greatest good for the greatest number in society protects traditional democratic values, reflects the communitarian world-view of women who see themselves as responsible for the well-being of all individuals, and reveals the "aesthetic judgment" that income inequality is "distinctly evil or unlovely." At the same time, critics have condemned progressive income taxation as social policy that amounts to theft and involuntary servitude, reflects the democratic …

New York Lifts Death Tax Penalty, Nancy O'Hagan

Fordham Urban Law Journal

New York State replaced its estate tax and repealed its gift tax. This Article will trace the history of the New York State gift and estate taxes, explain the burden they imposed upon New York State residents in relation to other states, and examine the recent legislation in New York State which will gradually eliminate such inequities.

A Capital Tax System To Preserve America's Heritage, Valerie M. Fogleman

Vanderbilt Journal of Transnational Law

This Article looks to the British national heritage capital tax system as a model to propose provisions in the United States Internal Revenue Code to aid in preserving the United States cultural and natural heritage. After an overview of the capital tax systems in Britain and the United States, Ms. Fogleman examines features of the British tax system that promote preservation of the national heritage. The British system conditionally exempts the owners of national heritage assets from estate or gift tax liability on the transfer of those assets in exchange for permitting public access to and maintaining the assets; allows …

United States Investment In Ireland, Eugene P. Fanning

Vanderbilt Journal of Transnational Law

This Article will examine in general the structure of the Irish Government relating to foreign investment, and describe the role of the government agencies that provide incentives for foreign direct investments. The Article will focus on the negotiation process between those government agencies and foreign investors, and examine the typical investment contract entered into by United States investors. The Article will also describe some important aspects of the typical forms of direct investment in Ireland: manufacturing, service industry, and joint venture investments. This Article will examine the concept of tax-advantaged lending in Ireland, Ireland's foreign exchange control regulations, and its …

Case Digest, Law Review Staff

Vanderbilt Journal of Transnational Law

EMPLOYEE WHO SPENDS "SOME PORTION OF WORK TIME IN MARITIME ACTIVITIES" IS AN "EMPLOYEE" COVERED BY THE LONGSHOREMEN'S AND WORKERS' COMPENSATION ACT-Schwabenland v.Sanger Boats, 683 F.2d 309 (9th Cir. 1982)

UNITED STATES CARRIAGE OF GOODS BY SEA ACT EXEMPTS DEFENDANT FROM LIABILITY FOR SHIP DAMAGE INCURRED WHILE DISCHARGING CARGO--Seven Seas Transportation Ltd. v. Pacifico Union Marina Corp. [1982] 2 Lloyd's L.R. 465

IMMIGRATION AND NATURALIZATION SERVICE DISTRICT DIRECTOR IS ENTITLED TO BROAD DISCRETION IN WEIGHING CRITERIA FOR PAROLE DETERMINATION OF UNADMITTED ALIENS--Bertrand v. Sava,684 F.2d 204 (2d Cir. 1982)

THE RACKETEER INFLUENCED AND CORRUPT ORGANIZATIONS ACT DOES NOT APPLY TO …

The Investment Decision In The Central City: A Consideration Of A Property Tax Abatement Law , Dipak K. Gupta, Louis M. Rea

Fordham Urban Law Journal

This article addresses an indirect policy approach to handling "gray areas" in large central cities where dilapidated and deteriorated housing go unresolved. Rather than focusing on abandonment and rebuilding, the article looks to fostering renewal of existing structures through property tax abatement programs. Using Pittsburgh as a model and experience to outline the framework for such a program, the article attempts to enhance ones understanding of the economic impacts that a property tax can have on the condition of city housing. The article concludes that for any city to embark on a tax abatement policy, it must understand the conditions …

Carryover Basis Rules For Inherited Property, Robert S. Hightower

Florida State University Law Review

No abstract provided.

The Great Section 38 Property Muddle, J. A. Cragwall, Jr.

Vanderbilt Law Review

Twelve full years have elapsed since section 38 property made its first appearance on the stage of tax law. In those twelve years, a complicated, confusing, ad hoc, and often inconsistent body of rulings and judicial decisions has grown up around the definitional regulation; words and phrases have acquired strange new meanings and connotations in the lush overgrowth of legal reasoning clinging to that regulation. The paradoxes in the regulation (such as that addressed in Weirick) and, more often, the ambiguities resulting from an almost universal failure by the regulations to define, instead of simply illustrate, its terms (such as …

Alternative Gains Tax Treatments Of Decedents' Appreciated Capital Assets, D. Allen Grumbine

Vanderbilt Law Review

The present treatment of appreciated assets under section 1014' of the Code permits a great deal of accrued appreciation to escape the income tax. While decedents pay a greater estate tax because asset appreciation swells their estates, they pay no gains tax at death on this accrued appreciation. Moreover, the recipients of the decedent's property generally take a stepped-up basis for the property equal to its fair market value at the time of death. A great deal of criticism has been leveled at this system, and numerous proposals have been made for remedying the situation: imposition of a capital gains …

Treasury Regulations Section 1.165-3(B)(2): Lessor Deduction For Demolition Loss

William & Mary Law Review

No abstract provided.

Recent Cases, Law Review Staff

Vanderbilt Law Review

Corporations--Equity--Specific Performance of Stock Option Granted Because of Tax Advantage Feature of Option

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Property--Landlord-Tenant--Rabbinical Court Establishes Far-Reaching Standard of Landlords' Obligations to Tenants

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Taxation--Federal Estate Taxation--Under Treasury Regulation Section 20.2031-8(b), Value of Shares in Mutual Funds Is Public Offering Price on Date of Death Rather Than Redemption Price

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Taxation--Mineral Rights--Carried Interest Loses Deduction for Depletion, Depreciation, and Intangible Drilling Costs During Recoupment

Condominium: A Reconciliation Of Competing Interests?, James C. Clark

Vanderbilt Law Review

This note will first examine some of the operative provisions of the condominium statutes. Particular emphasis will be placed upon those provisions which are basic to the creation, existence, and dissolution of this unique form of property ownership. The FHA Model Statute For Creation of Apartment Ownership will be the principal vehicle of analysis, for it is the basis of many of the state condominium statutes. State provisions which differ from the Model Act will then be examined to discover the best statutory answer to the needs of condominium housing. Finally, attention will be focused on the tax implications of …

Decedents' Estates, Trusts And Future Interest -- 1964 Tennessee Survey, Herman L. Trautman

Vanderbilt Law Review

Validity of Instrument Which Only Appoints Fiduciary--Is an instrument which makes no testamentary gift, but only designates or appoints the personal representative to administer the estate and provides certain special powers of fiduciary administration entitled to probate as a valid will? While it has been said that there need be no dispositive gift of property to entitle a testamentary writing to probate as a will,' there seems to have been no definite court decision in Tennessee so holding until the recent case of Delaney v. First Peoples Bank of Johnson City. In that case a writing properly executed with the …

Abstracts Of Recent Cases, Boyd Lee Warner Ii

West Virginia Law Review

No abstract provided.

State And Local Taxation -- 1962 Tennessee Survey, Paul I. Hartman

Vanderbilt Law Review

I. Exemption of Religious Institution from Property Taxation--Taxation of Parking Lots and Cafeterias Operated by Exempt Institution for Employees

II. Apportionment of Income from a Multistate Unitary Business for Excise Tax Purpose--Inclusion of Income from Sale of Extra-State Land in Measure of Tax

III. Taxability as Income to Stockholder of Distributions from Massachusetts Trust--Distributions in Cash and Stock of Capital Gains from Sales of Securities

IV. Sales Taxes--Taxability of Contractor Installing Air Conditioning Equipment for Tax Exempt User

V. Penalties for Delinquencies in Sales and Use Taxes--Mistake as Basis for Relieving Against Penalty for Delinquencies