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Gain From The Sale Of An Income Interest In A Trust, Douglas A. Kahn 2010 University of Michigan Law School

Gain From The Sale Of An Income Interest In A Trust, Douglas A. Kahn

Articles

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, David M. Hasen 2010 University of Colorado Law School

Legal Transitions And The Problem Of Reliance, David M. Hasen

Articles

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), Reuven S. Avi-Yonah 2010 University of Michigan Law School

Summary And Recommendations (Symposium On Designing A Federal Vat, Part I), Reuven S. Avi-Yonah

Articles

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, Reuven S. Avi-Yonah 2010 University of Michigan Law School

Between Formulary Apportionment And The Oecd Guidelines: A Proposal For Reconciliation, Reuven S. Avi-Yonah

Articles

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, James R. Hines Jr., E. J. McCaffery 2010 University of Michigan Law School

The Last Best Hope For Progressivity In Tax, James R. Hines Jr., E. J. Mccaffery

Articles

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, James R. Hines Jr. 2010 University of Michigan Law School

Reply To Becker And Fuest, James R. Hines Jr.

Articles

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, Kyle D. Logue, Joel Slemrod 2010 University of Michigan Law School

Of Coase, Calabresi, And Optimal Tax Liability, Kyle D. Logue, Joel Slemrod

Articles

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, Reuven S. Avi-Yonah, Guy Inbar, Omri Marian, Linneu Mello 2010 University of Michigan Law School

Comparative Tax Law: Theory And Practice, Reuven S. Avi-Yonah, Guy Inbar, Omri Marian, Linneu Mello

Articles

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, David Gamage, Michael Livingston 2009 Berkeley Law

Taxation: Law, Planning, And Policy, David Gamage, Michael Livingston

David Gamage

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, Hugh Ault 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, Mats Tjernberg 2009 Selected Works

The Economy Of Undocumented Migration: Taxation And Access To Welfare, Mats Tjernberg

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’, David Gamage, Jeremy Bearer-Friend 2009 Berkeley Law

Managing Fiscal Volatility By Redefining ‘Tax Cuts’ And ‘Tax Hikes’, David Gamage, Jeremy Bearer-Friend

David Gamage

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, Hugh Ault, Brian Arnold 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, Timothy R. Tarvin 2009 University of Arkansas

Preserving Tax Exempt Status For Your Nonprofit Client, Timothy R. Tarvin

Timothy R Tarvin

In order to preserve a nonprofit’s tax-exempt status, counsel for the organization should stay current on how to appropriately file the IRS Form 990. Many American nonprofit organizations are at risk of losing their tax-exempt status due to changes in the tax code and filing deadlines. The Internal Revenue Service released a new version of the Form 990 in August of 2008, which became effective on December 31 the same year. This article tracks the changes on the form, as well as offers advice on who should file, when, and how. New tax law requires filing the Form 990 ...


Taxation Of Workers In Sweden, Maria Hilling 2009 Lund University

Taxation Of Workers In Sweden, Maria Hilling

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, Evelyn Brody 2009 Chicago-Kent College of Law

All Charities Are Property-Tax Exempt, But Some Charities Are More Exempt Than Others, Evelyn Brody

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 ...


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