Tax Law Commons^™

International Tax Considerations: Inbound & Outbound, Seth Green, Monica Zubler

William & Mary Annual Tax Conference

No abstract provided.

Federal Tax Update, Stephen L. Owen

William & Mary Annual Tax Conference

No abstract provided.

Let's Make A Deal! Business Succession Planning, John M. Olivieri, Stefan F. Tucker

William & Mary Annual Tax Conference

No abstract provided.

Curb Your Enthusiasm For Pigovian Taxes, Victor Fleischer

Vanderbilt Law Review

Pigovian (or "corrective") taxes have been proposed or enacted on dozens of harmful products and activities: carbon, gasoline, fat, sugar, guns, cigarettes, alcohol, traffic, zoning, executive pay, and financial transactions, among others. Academics of all political stripes are mystified by the public's inability to see the merits of using Pigovian taxes more frequently to address serious social harms, some even calling for the creation of a "Pigovian state." This academic enthusiasm for Pigovian taxes should be tempered. A Pigovian tax is easy to design-as a uniform excise tax-if one assumes that each individual causes the same amount of harm with …

Corporate Tax Update, Andrew F. Gordon, Lisa M. Zarlenga

William & Mary Annual Tax Conference

No abstract provided.

With Marriage On The Decline And Cohabitation On The Rise, What About Marital Rights For Unmarried Partners?, Lawrence W. Waggoner

Law & Economics Working Papers

Part I of this paper uses recent government data to trace the decline of marriage and the rise of cohabitation in the United States. Between 2000 and 2010, the population grew by 9.71%, but the husband and wife households only grew by 3.7%, while the unmarried couple households grew by 41.4%. A counter-intuitive finding is that the early 21st century data show little correlation between the marriage rate and economic conditions. Because of the Supreme Court’s decision in Obergefell v. Hodges (2015), same-sex marriage is now universally available to same-sex couples. Part I considers the impact of same-sex marriage on …

Becker V. Becker, 131 Nev. Adv. Op. 85 (Oct. 29, 2015), Paul George

Nevada Supreme Court Summaries

In response to a certified question by the United States Bankruptcy Court for the District of Nevada, the Court concluded that under NRS 21.090(1)(bb) a debtor can exempt his stock in the corporations described in NRS 78.746(2), but his economic interest in that stock is still subject to the charging order remedy in NRS 78.746(1).

Partnership Audits And Litigation (Tefra), Robert D. Probasco, Jason Freeman

Robert Probasco

No abstract provided.

Parting The Dark Money Sea: Exposing Politically Active Tax-Exempt Groups Through Fec-Irs Hybrid Enforcement, Carrie E. Miller

William & Mary Law Review

No abstract provided.

Section 179 Expensing And The Bonus Depreciation Allowance: Their Application, History, Costs, And Benefits., Alice E. Keane

Alice E. Keane

This article examines Section 179 expensing and the bonus depreciation allowance, tax incentives that allow businesses to dramatically accelerate deductions on purchases of most tangible property. Generally, Section 179 expensing benefits smaller businesses, while the bonus depreciation allowance, which is more controversial and costly, is more useful to larger businesses and C corporations. Both of these tax incentives expired at the end of 2014. Congress is currently considering bills that would extend these incentives retroactively to 2015 and beyond. There is conflicting evidence of the benefit to the economy of Section 179 expensing and the bonus depreciation allowance, with certain …

Delegating Tax, James R. Hines Jr., Kyle D. Logue

Michigan Law Review

Congress delegates extensive and growing lawmaking authority to federal administrative agencies in areas other than taxation, but tightly limits the scope of Internal Revenue Service (IRS) and Treasury regulatory discretion in the tax area, specifically not permitting these agencies to select or adjust tax rates. This Article questions why tax policy does and should differ from other policy areas in this respect, noting some of the potential policy benefits of delegation. Greater delegation of tax lawmaking authority would allow administrative agencies to apply their expertise to fiscal policy and afford timely adjustment to changing economic circumstances. Furthermore, delegation of the …

Measuring The Effects Of Feminist Legal Research: Looking Critically At "Failure" And "Success", Lisa Philipps

Lisa Philipps

No abstract provided.

Helping Out In The Family Firm: The Legal Treatment Of Unpaid Market Labor, Lisa Philipps

Lisa Philipps

This article investigates the work of individuals who help out informally with a family member's job, often without pay. Examples include the relative who works in the back room of the family business, the executive spouse who hosts corporate functions, the political wife who campaigns with her husband, or the child who does chores on the family farm. The term "unpaid market labor" (UML) is used here to describe the ways that family members collaborate directly in paid activities that are legally and socially attributed to others. The practical legal problems that can arise in relation to UML are illustrated …

Should Apb 23 Indefinite Reinvestment Be Repealed?, J. Richard Harvey

Working Paper Series

A recent letter to FASB suggested that APB 23 should be repealed. Although there is a clear lack of application guidance surrounding APB 23, repeal is not justified. Instead, FASB should address several practical uncertainties that have effectively allowed U.S. MNCs to make whatever APB 23 assumption best suits their needs.

Given that many U.S. MNCs have shifted substantial amounts of income to low-tax foreign jurisdictions and may need those foreign earnings back in the U.S. relatively soon, it is important for FASB to address these issues. If not, aggressive MNCs may continue to assert indefinite reinvestment when in fact …

Improving The Legal Implementation Mechanisms For A Carbon Tax In China, Haifeng Deng

Pace Environmental Law Review

Within the framework of existing Chinese environmental laws, carbon taxation faces four main challenges: the contradiction of existing taxes, conflict with the carbon emissions trading system, necessary adjustments to the organizational structure of tax collection and management, and coordination with international trade rules. Implementing a carbon tax is a complete and systematic process containing three stages: introduction, collection, and impacts assessment. In order to address these problems, it is necessary to construct legal implementation mechanisms for carbon taxation in China. The legal mechanisms of implementing a carbon tax include a series of coordination and safeguard measures aimed at optimizing the …

Constitutional Law, Import-Export Clause: Non-Discriminatory, Fairly Apportioned Excise Tax Applied To Stevedoring Companies Loading And Unloading Goods In Imports And Export Transit Does Not Constitute An Import Or Duty Within The Prohibition Of The Import-Export Clause, Tony G. Mills

Georgia Journal of International & Comparative Law

No abstract provided.

Tax Incentives To Exportation: Alternatives To Disc, Timothy A. Peterson

Georgia Journal of International & Comparative Law

No abstract provided.

Through The Antiboycott Morass To An Export Priority, Mark D. Menefee, Don Samuel

Georgia Journal of International & Comparative Law

No abstract provided.

Improving Inter-Nation Equity Through Territorial Taxation And Tax Sparing, Jinyan Li

Jinyan Li

The current international tax system allocates the taxation of cross-border income by reference to the residence of the taxpayer and/or the source of income. The governing rules are contained in domestic tax laws and bilateral tax treaties. As noted by Professor Easson, the current regime of allocation is not based on any real agreement between nations and cannot be rationalized by any “obvious principle of fairness”. In fact, it is biased in favour of the capital exporting nations that devised the rules of the game. In order to improve fairness, Professor Easson considered it desirable to have some “redistribution” in …

Keeping Up With Tax Law And The Affordable Care Act, Frederick W. Dingledy

Library Staff Publications

No abstract provided.

Perspectives - William Morrish, Professor Of Urban Ecologies At Parsons The New School For Design, James Hagy

Rooftops Project

How can arts organizations with an aspiration to build their own facilities connect project design both with the broader community and with financial sustainability? The Rooftops Project’s Zulaihat Nauzo and Professor James Hagy talk with William Morrish, Professor of Urban Ecologies at Parsons The New School for Design.

Tax Treatment Of Derivative Instruments, Oluwaseun Viyon Ojo

Oluwaseun Viyon Ojo

The article provides an analysis of the various types of derivative instruments traded on the capital markets. As derivative instruments become frequently tradable in the Nigerian Financial market in the near projected future, it is expedient that the concerned companies plan adequately for the tax implications of such transactions and the appropriate tax authorities know how to treat the instrument of derivatives for the purpose of imposition of relevant taxes. This paper therefore dealt with the treatment of these instruments under the Capital Gains Tax Act (CGTA) and Companies Income Tax Act (CITA), though there are no specific rules for …

Is The Chief Justice A Tax Lawyer?, Stephanie Hoffer, Christopher J. Walker

Christopher J. Walker

King v. Burwell is a crucial victory for the Obama Administration and for the future of the Affordable Care Act. It also has important implications for tax law and administration, as explored in the other terrific contributions to this Pepperdine Law Review Symposium. In this Essay, we turn to another tax-related feature of the Chief Justice’s opinion for the Court: It is hard to ignore the fingerprints of a tax lawyer throughout the opinion. This Essay focuses on two instances of a tax lawyer at work.

First, in the Chief’s approach to statutory interpretation one sees a tax lawyer as …

Business Law Bulletin, Fall 2015

Business Law Bulletin

No abstract provided.

Without Representation, No Taxation: Free Blacks, Taxes, And Tax Exemptions Between The Revolutionary And Civil Wars, Christopher J. Bryant

Michigan Journal of Race and Law

This Essay is the first general survey of the taxation of free Blacks in free and slave states between the Revolutionary and Civil Wars. A few states treated all equally for tax purposes, but most states enacted taxation systems that subjected free Blacks to different requirements. Both free and slave states viewed free Blacks as an undesirable population, and this Essay posits that—within the relevant political constraints—states used taxes and tax exemptions to dissuade free Black immigration and limit the opportunities for free Blacks within their borders. This topic is salient for at least two reasons. First, the Essay sheds …

Cancellation Of Debt And Related Transactions, Jeffrey H. Kahn, Douglas A. Kahn

Scholarly Publications

If a taxpayer borrows money, the borrowed funds are not included in the taxpayer’s gross income. That treatment is proper even though the taxpayer has increased his assets by the amount he borrowed because he also has created a corresponding liability to pay back the loan. The taxpayer’s net wealth has not increased. The more difficult and interesting questions arise when the taxpayer fails to repay the loan. At first blush, it would appear that upon cancellation of a loan, the taxpayer should have income for the amount that was cancelled. However, the current tax treatment is not that simple. …

Reforming Reit Taxation (Or Not), Bradley T. Borden

Faculty Scholarship

No abstract provided.

Dodging The Taxman: Why The Treasury’S Anti-Abuse Regulation Is Unconstitutional, Linda D. Jellum

University of Miami Law Review

To combat abusive tax shelters, the Department of the Treasury promulgated a general anti-abuse regulation applicable to all of subchapter K of the Internal Revenue Code of 1986. The Treasury targeted subchapter K because unique aspects of the partnership tax laws—including its aggregate-entity dichotomy—foster creative tax manipulation. In the anti-abuse regulation, the Treasury attempted to “codify” existing judicially-created anti-abuse doctrines, such as the business-purpose and economic-substance doctrines. Also, and more surprisingly, the Treasury directed those applying subchapter K to use a purposivist approach to interpretation and to reject textualism.

In this article, I demonstrate that the Treasury exceeded both its …

Of More Than Usual Interest: The Taxing Problem Of Debt Principal, Charlene Luke

UF Law Faculty Publications

Leverage is an essential but often troubling component of the U.S. market. The financial crisis highlighted the risks and complexity of a leverage web that includes flesh-and-blood people from all walks of life and paper people from all corners of the business and investment world. In the tax area, the potentially problematic incentive effects of interest deductibility have long engaged a wide array of tax commentators and policymakers. While interest deductibility rightly receives widespread scrutiny, a more comprehensive approach to leverage is needed. This Article focuses on the surprisingly complicated tax treatment of cash (and cash equivalent) borrowings. This Article …

Destination-Based Cash-Flow Taxation: A Critical Appraisal, Wei Cui

Wei Cui

This Article offers the first comprehensive appraisal in both the legal and economic literatures of proposals for adopting destination-based cash flow taxation (DCFT) of multinational corporations. The DCFT was a key recommendation for reforming corporate taxation in the U.K., and has subsequently attracted wide attention as a way to fundamentally reform international taxation in the U.S., Europe and elsewhere. The core intuition of the DCFT is to tax profits earned by mobile capital by reference to immobile factors. I distinguish three versions of the DCFT for implementing this intuition: 1. formulary apportionment of business profits by reference to locations of …