Law Commons^™

Bryan V. Itasca County, Minnesota, Lewis F. Powell Jr.

Supreme Court Case Files

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 …

The Role Of The Corn Products Doctrine In Foreign Exchange Transactions, Charles H. Manning

Vanderbilt Journal of Transnational Law

Exchange rate gain or loss may result from fluctuations of exchange rates or from formal governmental action such as revaluation and devaluation. In evaluating the significance of foreign exchange transactions and their tax consequences, the types of transactions that produce exchange rate gain or loss must be distinguished. The first type of transaction is currency speculation in which exchange rate gain or loss is the only profit or loss realized. The second type of transaction involves the purchase and sale of inventory in which the exchange rate gain or loss is ancillary to the monetary gain or loss realized on …

Assessing The Distributional Effects Of Income Tax Revision: Some Lessons From Incidence Analysis, Michael J. Graetz

Faculty Scholarship

In recent years public attention to issues of tax equity has increased dramatically. The testimony in January 1969 of outgoing Secretary of the Treasury Joseph Barr that 154 individuals who had adjusted gross incomes of more than $200,000 in 1966 paid no federal income tax intensified public awareness and concern about the equity of the tax system. Tax reform has remained a central issue of public policy.

At the same time, scholars working in the tax field have refined their methods of analyzing the impact on individuals and classes of individuals of tax laws and tax changes. Theoretical advances in …