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Full-Text Articles in Law
Taxing Emotional Distress Recoveries: Does Murphy Show The Way?, Kaushal P. Mahaseth
Taxing Emotional Distress Recoveries: Does Murphy Show The Way?, Kaushal P. Mahaseth
LLM Theses and Essays
The taxability of recoveries of damages on account of emotional distress remains a complicated issue under the American federal income tax law. Recent developments due to a controversial decision by the D.C. Circuit Court of Appeals have further added fuel to this debate. Even if one were to argue the justifications of exempting such recoveries from income taxation, courts do not appear to be the very appropriate kind of forum. Congress can, and in fact does tax such recoveries and the constitutional basis of such power can hardly be doubted. As a result, appropriate changes in the statute only can …
A Consumption Tax Versus A Federal Income Tax In The United States, Shelly-Ann R. Tomlinson
A Consumption Tax Versus A Federal Income Tax In The United States, Shelly-Ann R. Tomlinson
LLM Theses and Essays
This thesis makes a comparison between a consumption tax and the current Federal Income Tax in order to establish which would be fairer, simpler, more efficient and feasible for the United States. Issues such as which of the two tax systems would be easier to apply, and which would yield enough revenue for the fiscal budget are addressed. The thesis argues that a consumption tax would be more suitable for the United States and in particular makes reference to the Fair Tax plan which is a proposal to replace the current federal income tax with a national retail sales tax. …
Taxation Of U.S. Llc With Foreign Participation, Victor Ianovitch
Taxation Of U.S. Llc With Foreign Participation, Victor Ianovitch
LLM Theses and Essays
The instant thesis is organized in three main parts. The first contains an overview of U.S. law including constitutional issues of the topic focusing on the separation of tax powers between federal and state authorities with special attention to the basis and extent to which a State is entitled to impose levies on business organizations; a brief analysis of federal legislation allowing the pass-through regime; and summary concerning LLC legislation in the States. The second analyzes the application of the main, basic principles of international taxation (such as residence, source rules, application of international treaties, and connected with it the …
Debt Instruments' Tax Treatment In Corporate Mergers And Acquisitions, Tae Oon Jang
Debt Instruments' Tax Treatment In Corporate Mergers And Acquisitions, Tae Oon Jang
LLM Theses and Essays
The increase of merger and acquisition(M&A) activity since 1992 has resulted mainly from a domestic economic recovery. The current M&A trend shows that M&A is still an important means of enhancing many corporations' competitive power and of stimulating growth in such areas as computer software and services, wholesale and distribution, miscellaneous services, banking and finance, and leisure and entertainment. Fundraising for mezzanine-fund financing, which reflects investors' foresight about current and future M&A trends, has also seen rapid growth. After the Tax Reform Act of 1986 and the repeal of the General Utilities doctrine, the elimination of the capital gain preference …
An Analysis Of The Disallowance Of Advertising Expenses For Tobacco Products, Ravi Mannam
An Analysis Of The Disallowance Of Advertising Expenses For Tobacco Products, Ravi Mannam
LLM Theses and Essays
Generally, reasonable expenses incurred in the ordinary and necessary course of a legitimate trade or business are deductible from gross income under the U.S. Tax Code; however in an effort to curb tobacco use, recent legislation has disallowed this benefit to tobacco companies for advertising expenses. The judiciary has upheld this disallowance under the doctrine of legislative grace. This thesis critiques the doctrine of legislative grace along with a review Congress’s power to tax income and the role of deductions. Also, the possibility of disallowing business expenses under public policy grounds is examined, and the relationship between lobbying expenses and …
Taxation Of Natural Resources: Are Provisions Applying To The Domestic Natural Resources Industry Also Applicable To Deep Seabed Mining?, Jozef Leysen
LLM Theses and Essays
Deep seabed mining may diminish American dependence on foreign sources of minerals. It is thus in the interest of the United States (and other mineral importing countries) to encourage this highly risky industry and to provide for favorable legal conditions in general and for favorable tax conditions in particular. This thesis examines whether United States law on the taxation of natural resources applies to deep seabed mining.
The Tax Expenditure Budget: A Typological Analysis, Jochen Winter
The Tax Expenditure Budget: A Typological Analysis, Jochen Winter
LLM Theses and Essays
The Tax Expenditure Budget has been part of the budgetary process for more than ten years. This study attempts to review the academic and administrative pros and cons. It focuses on the effect of the tax Expenditure Budget on tax legislation. Finally, it determines the role of the Tax Expenditure Budget in today’s fiscal policy.