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Full-Text Articles in Tax Law
Response To 'Reverse Al Capone-Ism' And The Tax Treatment Of Marijuana Businesses, Douglas A. Kahn, Howard J. Bromberg
Response To 'Reverse Al Capone-Ism' And The Tax Treatment Of Marijuana Businesses, Douglas A. Kahn, Howard J. Bromberg
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Mr. Silverberg’s comment stresses that the proponents of the legalization of marijuana have not been able to convince Congress to legalize it, and so it is appropriate for Congress to penalize trafficking in that drug. Apparently, he sees our contention that the penalty adopted in I.R.C. § 280E is irrational and contravenes established punitive jurisprudence as a backdoor attempt to accomplish indirectly, by weakening the penalties on the marijuana businesses, what has not been able to be accomplished by those seeking its federal legalization. That was not the motive for our proposal and is not a fair reading of our …
Response To Dude, Where's My Deduction?, Douglas A. Kahn, Howard J. Bromberg
Response To Dude, Where's My Deduction?, Douglas A. Kahn, Howard J. Bromberg
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Mr. Pullin’s thesis is that marijuana should be excluded from § 280E when it is operated legally under state law. However, his preferred solution is that the federal government remove marijuana from Schedules I and II of the Controlled Substances Act of 1970 (CSA), thereby legalizing it for federal law purposes. Either action would exclude the marijuana business from § 280E.
9th Circ. Got Cost-Sharing Right In Altera V. Commissioner, Reuven S. Avi-Yonah
9th Circ. Got Cost-Sharing Right In Altera V. Commissioner, Reuven S. Avi-Yonah
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On June 7, the U.S. Court of Appeals for the Ninth Circuit released its long-awaited opinion in Altera Corp. v. Commissioner. Like its predecessor, the new panel chosen after Judge Stephen Reinhardt's death reversed the U.S. Tax Court and held that the regulation requiring multinationals that enter into a qualified cost-sharing agreement, or QCSA, to share the cost of employee stock options is valid.