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Full-Text Articles in Law
Biometrics: Solving The Regressivity Of Vats And Rsts With 'Smart Card' Technology, Richard Thompson Ainsworth
Biometrics: Solving The Regressivity Of Vats And Rsts With 'Smart Card' Technology, Richard Thompson Ainsworth
Faculty Scholarship
Biometric identifiers embedded in national identity cards puts a formerly impossible goal of consumption taxation within the grasp of policymakers for the first time. Never before has it been possible to design a broad-based, single rate consumption tax that is truly progressive.
No consumption tax has ever had all three of the critical attributes of a progressive consumption tax: a broad base, a single rate, and measured relief for those in greatest need. Although economists have urged that a broad base and a single rate be pursued over progressivity, most consumption taxes instead seek progressivity at the expense of both …
The Partnership: Preserving Capital Gains On Real Estate Investments, Charles E. Mcwilliams
The Partnership: Preserving Capital Gains On Real Estate Investments, Charles E. Mcwilliams
ExpressO
This paper considers the use of partnerships as an effective tool for preserving capital gains on real estate investments. For tax purposes, the Internal Revenue Service generally treats a limited liability company as a partnership. This form of organization is widely used for real estate investments, and by taking a few simple precautions an LLC may ensure that any gain on its investments in undeveloped real property will be treated as capital gains. Such treatment may reduce the LLC’s tax costs substantially.
The Fifth Circuit developed a framework that has proven invaluable for analyzing the activity of the LLC to …