Law Commons^™

Corporate Taxation In 1971; Something New, Something Old., Malcolm L. Shaw

St. Mary's Law Journal

Abstract Forthcoming.

Comparative Analysis Of Depreciation In The Common Market: United Kingdom, Richard Pomp

Faculty Articles and Papers

This article is a part of European Taxation’s continuing study of fiscal depreciation in the European economic community and focuses on the United Kingdom. It incorporates changes made by the Finance Act of 1972.

There are eight categories of capital expenditure for which depreciation, or capital allowances, are allowed and taken into account for income tax purposes. These categories include industrial buildings; plants and machinery; mines, oil wells, and other natural mineral deposits of a wasting nature; dredging; agricultural and forestry buildings; scientific research; patents; and know-how.

While there is considerable variation in the rules that apply to each category, …

Tax Consequences Of Foreign Currency Fluctuations, Sheldon S. Cohen

Vanderbilt Journal of Transnational Law

This article concerns the United States federal income tax treatment of the gains and losses resulting from transactions involving currencies other than the United States dollar. United States income taxes must be computed and paid in United States dollars. Therefore, when persons subject to United States income taxes engage in transactions involving foreign currencies, they must account for their profits in terms of dollars for United States income tax purposes. This result follows even if the taxpayer does not actually convert the results of these transactions into dollars. Whether the failure to convert is voluntary, or results from legal restrictions …

Federal Wealth Transfer Taxation: Cases And Materials, Hugh Ault, Stanley Surrey, William Warren, Paul Mcdaniel

Hugh J. Ault

(Volume 1 supplemented by 1975 Supplement to Federal Income Taxation: Cases and Materials, volume 1, by Surrey, Warren, McDaniel, and Ault. Mineola, NY: Foundation Press, 1975;1977 Supplement to Federal Income Taxation: Cases and Materials, volume 1, by Surrey, Warren, McDaniel, and Ault. Mineola, NY: Foundation Press, 1977; 1979 Supplement to Federal Income Taxation: Cases and Materials, volume 1, by Surrey, Warren, McDaniel, and Ault. Mineola, NY: Foundation Press, 1979; 1982 Supplement to Federal Income Taxation: Cases and Materials, volume 1, by Surrey, Warren, McDaniel, and Ault. Mineola, NY: Foundation Press, 1982; 1983 Supplement to Federal Income Taxation: Cases and Materials, …