Gain From The Sale Of An Income Interest In A Trust, 2010 University of Michigan Law School
Gain From The Sale Of An Income Interest In A Trust, Douglas A. Kahn
A tax doctrine that is related to the anticipatory assignment of income doctrine, but yet different from that doctrine is variously referred to as the "substitute for ordinary income doctrine" or the "anticipation of income doctrine." This latter doctrine arises on the sale of an item. The test often utilized to determine whether that latter doctrine applies is whether the sale of an item substantively represents the receipt of a substitute for future income - i.e., are the proceeds of the sale given "in lieu of" ordinary income that the seller would have otherwise received at a later date. The ...
Legal Transitions And The Problem Of Reliance, 2010 University of Colorado Law School
Legal Transitions And The Problem Of Reliance, David M. Hasen
This Article analyzes the literature on legal transitions. The principal focus is taxation, but the analysis generalizes to other areas. I argue that the theoretical apparatus developed by scholars active in the legal transitions area suffers from significant conceptual shortcomings. These shortcomings include the unwarranted assimilation of legal to factual change, the naturalization of conventional arrangements, and the disregard of the distinction between making law and finding it. As a consequence, the recent literature offers an analysis that is unable either to explain actual transitions or to provide an adequate theory of how legal change should take place. In the ...
Summary And Recommendations (Symposium On Designing A Federal Vat, Part I), 2010 University of Michigan Law School
Summary And Recommendations (Symposium On Designing A Federal Vat, Part I), Reuven S. Avi-Yonah
For the past thirty-five years, the debate on fundamental tax reform in the United States has centered on whether some type of consumption tax would replace all or part of the federal income tax. In my opinion, this debate has now been decided. Given recent budgetary developments and the impending eligibility of the baby boom generation for Social Security and Medicare, we cannot dispense with the revenue from the corporate and individual income tax. Moreover, we will need huge amounts of additional revenue, and most informed observers believe that the only plausible source for such revenues is a federal value-added ...
Between Formulary Apportionment And The Oecd Guidelines: A Proposal For Reconciliation, 2010 University of Michigan Law School
Between Formulary Apportionment And The Oecd Guidelines: A Proposal For Reconciliation, Reuven S. Avi-Yonah
In the last 30 years, a debate has been raging in international tax circles between advocates of the OECD Transfer Pricing Guidelines and the arm’s length standard (ALS) they embody, on the one hand, and advocates of formulary apportionment (FA) on the other. After the adoption of the 1995 regulations and the new OECD Guidelines, the debate became quieter for a while, because everyone was waiting to see whether the issue had been resolved. However, while there have been few decided cases, it is clear by now that the transfer pricing problem is as bad as it ever was ...
The Last Best Hope For Progressivity In Tax, 2010 University of Michigan Law School
The Last Best Hope For Progressivity In Tax, James R. Hines Jr., E. J. Mccaffery
We argue that a spending tax, as opposed to an income or wage tax, is the “last best hope” for a return to significantly more progressive marginal tax rates than obtain today. The simple explanation for this central claim looks to incentive effects, especially for “rich people,” as both economists and commentators are inclined to focus. High marginal tax rates under an income tax fall on and hence deter the socially productive activities of work and savings. High marginal rates under a wage tax fall on and hence deter the socially productive activity of work alone. But high marginal rates ...
Reply To Becker And Fuest, 2010 University of Michigan Law School
Reply To Becker And Fuest, James R. Hines Jr.
It is an understatement to say that the appropriate taxation of foreign business income is a controversial and potentially confusing topic. One of the mysteries of international taxation has been that the prescriptions of what, until recently, was the accepted academic wisdom differs so sharply from widespread international practice. In an important contribution, Richman (1963) noted that a home government confronted with the choice of where it would prefer one of its resident taxpayers to allocate a single unit of capital would weigh the after-foreign-tax return from investing abroad against the pre-tax return from investing at home. From this observation ...
Of Coase, Calabresi, And Optimal Tax Liability, 2010 University of Michigan Law School
Of Coase, Calabresi, And Optimal Tax Liability, Kyle D. Logue, Joel Slemrod
The Article proceeds as follows. Part II offers a primer on the Coase Theorem, beginning with the classic case of neighbor externalizing on neighbor (farmer and rancher), and it explains the basic invariance propositions. Part III shifts the focus to Coasean situations involving buyers and sellers in a market or contractual relationship, buyers and sellers whose market interactions cause harm to third parties. Using supply-and-demand diagrams, we illustrate (in a new way) some of the most basic findings of the economic analysis of law, including both the Coasean invariance and efficiency propositions and the Calabresian least-cost avoider idea. Also in ...
Comparative Tax Law: Theory And Practice, 2010 University of Michigan Law School
Comparative Tax Law: Theory And Practice, Reuven S. Avi-Yonah, Guy Inbar, Omri Marian, Linneu Mello
On 3 October 2009, a Conference on Comparative Tax Law in Theory and Practice took place at the University of Michigan Law School. It was organized by Reuven Avi-Yonah (Professor, University of Michigan Law School) and Mathias Reimann (Editor, American Journal of Comparative Law and Professor, University of Michigan Law School), and was attended by Hugh Ault (Professor of Law, Boston College Law School), Victor Thuronyi (Senior Counsel, International Monetary Fund), Brian Arnold (Professor Emeritus, University of Western Ontario), William Barker (Professor, The Dickinson School of Law, Penn State), Michael Livingston (Professor, Rutgers School of Law-Camden), Carlo Garbarino (Professor of ...
Taxation: Law, Planning, And Policy, 2009 Berkeley Law
Taxation: Law, Planning, And Policy, David Gamage, Michael Livingston
This is a sample version of the Introduction, Table of Contents, Background and Basic Themes section, and first chapter, from the second edition of the casebook "Taxation: Law, Planning, and Policy". This sample is posted with the permission of LexisNexis publishing for review purposes by students and instructors.
Recent Treaty Developments In The Arbitration Of International Tax Disputes, 2009 Boston College Law School
Recent Treaty Developments In The Arbitration Of International Tax Disputes, Hugh Ault
Hugh J. Ault
No abstract provided.
The Economy Of Undocumented Migration: Taxation And Access To Welfare, 2009 Selected Works
The Economy Of Undocumented Migration: Taxation And Access To Welfare, Mats Tjernberg
A strict division between the formal economy and the informal economy cannot be made and every economic actor has in certain situations a propensity to engage in informal economic activities. The formal, as well as informal, economy may lead to economic growth which is essential for a broad welfare policy, under which social benefits are categorized. A person’s economic contribution to a state should entail some possibility of getting economic and social benefits from it. The article shows that a person, who is liable to tax in a state, by staying in its territory, should not be excluded from ...
Managing Fiscal Volatility By Redefining ‘Tax Cuts’ And ‘Tax Hikes’, 2009 Berkeley Law
Managing Fiscal Volatility By Redefining ‘Tax Cuts’ And ‘Tax Hikes’, David Gamage, Jeremy Bearer-Friend
This report analyzes how states should cope with fiscal volatility at the level of institutional-design policy. We propose that states reconsider how they define terms like ‘‘tax cuts’’ and ‘‘tax hikes.’’ By adopting a new baseline for defining those terms, states can increase the likelihood of using tax rate adjustments to cope with fiscal volatility rather than more harmful spending fluctuations.
Comparative Income Taxation: A Structural Analysis, 2009 Boston College Law School
Comparative Income Taxation: A Structural Analysis, Hugh Ault, Brian Arnold
Hugh J. Ault
The purpose of this book is to compare different solutions adopted by nine industrialized countries to common problems of income tax design. As in other legal domains, comparative study of income taxation can provide fresh perspectives from which to examine a particular national system. Increasing economic globalization also makes understanding foreign tax systems relevant to a growing set of transnational business transactions. Comparative study is, however, notoriously difficult. Full understanding of a foreign tax system may require mastery not only of a foreign language, but also of foreign business and legal cultures. It would be the work of a lifetime ...
Preserving Tax Exempt Status For Your Nonprofit Client, 2009 University of Arkansas
Preserving Tax Exempt Status For Your Nonprofit Client, Timothy R. Tarvin
Timothy R Tarvin
Taxation Of Workers In Sweden, 2009 Lund University
Taxation Of Workers In Sweden, Maria Hilling
The Swedish national report for the EATLP Conference in Cambridge
All Charities Are Property-Tax Exempt, But Some Charities Are More Exempt Than Others, 2009 Chicago-Kent College of Law
All Charities Are Property-Tax Exempt, But Some Charities Are More Exempt Than Others, Evelyn Brody
Attention from the media notwithstanding, the nonprofit sector continues to achieve remarkable success in state supreme courts and statehouses in defending property-tax exemptions. But budget pressures remain. While the intermediate use of “payments in lieu of taxes” has not yet become a systematic compromise solution, PILOTs are attracting growing interest from local taxing jurisdictions. This Article highlights three issues— who decides the parameters of exemption, legislatures or courts; what are the specific factors and vulnerable subsectors; and how exemption is granted or withheld in practice—and concludes with several PILOT case studies. The Appendix sets forth a fifty-one-jurisdiction review of ...