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Full-Text Articles in Supreme Court of the United States
A.E. Staley Maunufacturing Co. V. Commissioner: Life After Indopco: Tax Treatment Of A Target Corporation's Unsuccessful Hostile Tender Offer Defense Fees, Corinne E. Anderson
A.E. Staley Maunufacturing Co. V. Commissioner: Life After Indopco: Tax Treatment Of A Target Corporation's Unsuccessful Hostile Tender Offer Defense Fees, Corinne E. Anderson
Akron Law Review
One specific concern was whether the INDOPCO decision represented a per se rule that takeover-related expenses must always be capitalized. The recent Seventh Circuit decision of A.E. Staley Manufacturing Co. v. Commissioner appears to have answered this question in the negative. In Staley, the Court of Appeals held that the majority of investment banker fees paid in an unsuccessful attempt to defeat a hostile tender offer were deductible as "ordinary and necessary" business expenses. Alternatively, those expenses allocable to the company's unsuccessful efforts to engage in alternate transactions were deductible as "abandoned transactions. ' However, fees paid by Staley to …
Challenging Buckley V. Valeo: A Legal Strategy, John C. Bonifaz, Gregory G. Luke, Brenda Wright
Challenging Buckley V. Valeo: A Legal Strategy, John C. Bonifaz, Gregory G. Luke, Brenda Wright
Akron Law Review
In its 1976 ruling in Buckley v. Valeo, the United States Supreme Court sanctioned a system of unlimited campaign spending in federal elections. Since that ruling, this nation has witnessed an explosion of political expenditures. The 1996 election cycle marked the most expensive election in U.S. history, with congressional and presidential candidates spending a total of more than $2 billion. Campaign spending has also dramatically risen in state and local elections across the country. Unlimited spending poses a serious threat to our democratic process. It undermines public confidence in our elections and in our democratic institutions. It presents an increased …