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The Shifting Use Of The So-Remote-As-To-Be-Negligible Standard For Qualified Conservation Contributions, Ashley H. Waterbury
The Shifting Use Of The So-Remote-As-To-Be-Negligible Standard For Qualified Conservation Contributions, Ashley H. Waterbury
Washington and Lee Journal of Energy, Climate, and the Environment
Qualified conservation contributions, also known as conservation easements, have become a subject of close scrutiny under the Internal Revenue Service within the past decade. One reason for such scrutiny is that conditions are being imposed on these contributions, testing the perpetuity requirement for conservation easement deductions. In order for a condition on the donation to survive, the condition must be “so remote as to be negligible.” The judicial interpretation of the so-remote-as-to-be-negligible standard has fluctuated since its addition to the Treasury Regulations in 1939. Most recently, the Tax Court in Graev v. Commissioner, explored the meaning of the so-remote-as-to-be-negligible standard …
Is It Time To Revoke The Tax-Exempt Status Of Rural Electric Cooperatives?, W. G. Beecher
Is It Time To Revoke The Tax-Exempt Status Of Rural Electric Cooperatives?, W. G. Beecher
Washington and Lee Journal of Energy, Climate, and the Environment
Rural electric cooperatives (RECs) were created with government assistance in the mid-1930s as part of a campaign to bring electricity to rural areas in an effort to improve economic output and quality of living. By the early 1950s, the entirety of America had access to electricity, fulfilling the federal government’s mission. Today, these cooperatives strongly resemble their for-profit counterparts, but remain tax-exempt under § 501(c)(12) of the Internal Revenue Code. This note will argue that, in light of the changes that RECs have undergone and the environment in which they now operate, their tax-exempt status is no longer warranted and …