Law Commons^™

Equitable Recoupment: Revisiting An Old And Inconsistent Remedy, Camilla E. Watson

Scholarly Works

This Article examines the development of recoupment by first comparing and contrasting other equitable remedies. Because discussions of related equitable remedies have filled tomes in themselves, this Article concentrates only on the more salient aspects of these remedies as they pertain to the development of recoupment in the federal tax context. Next, the established elements of recoupment will be discussed in depth, with particular emphasis on the views of Professor Andrews. The Article questions whether Professor Andrews's views represent the most effective analysis of the recoupment criteria in light of the judicial inconsistencies.

In discussing the ineffectiveness of recoupment as …

Commerce Clause Restraints On State Business Development Incentives, Walter Hellerstein, Dan T. Coenen

Scholarly Works

In this Article, we explore the ill-defined distinction between the constitutional carrot and the unconstitutional stick in state tax, subsidy, and related cases. Part I examines the restraints that the Commerce Clause imposes on state tax incentives. It canvasses the general principles limiting discriminatory state taxation, explores the Court's decisions addressing state tax incentives, and proposes a framework of analysis for adjudicating the validity of such incentives. Part I concludes by considering the constitutionality of a variety of state tax incentives within our suggested framework and also under alternative approaches that courts might utilize. Part II examines the restraints that …

Trouble In Transamerica: Deferred Compensation, Contingent Debt, And Overstated Basis, Mary Lafrance

Scholarly Works

For many years, owners of motion pictures and television films have optimized the tax benefits of depreciation deductions by employing a broad concept of basis. In addition to their cash investment, these taxpayers have increased their basis to reflect both fixed and contingent liabilities incurred in creating or acquiring these assets. Some of these liabilities represent royalties for the use of intellectual property such as music and literary works incorporated in the film. Others constitute deferred compensation for the services performed by producers, directors, actors, musicians, and others during the production process. The fixed liabilities do not depend on the …