Law Commons^™

The Scintilla Of Individual Profit: In Search Of Private Inurement And Excess Benefit, Darryll K. Jones

Journal Publications

Private inurement certainly manifests itself in "protean" ways, but regardless of form, the prohibition against private inurement must be rendered consistent with the generally accepted notion that exempt entities are singularly distinguishable from taxable entities by the act of forbearance with respect to individual profit, since that is the distinction the prohibition was originally intended to enforce. Rendering the prohibition consistent with the single notion underlying the existence and theories of tax-exemption will resolve much of its elasticity, elusiveness, and long-lasting evolution. Such a result is necessary and good not only because of the imposition of personal liability under section …