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- Gift tax (2)
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- Comptroller of the State of Maryland v. Wynne (1)
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- First Marblehead Corporation v. Massachusetts Commissioner of Revenue (1)
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Articles 1 - 3 of 3
Full-Text Articles in Law
How The Massachusetts Supreme Judicial Court Should Interpret Wynne, Michael S. Knoll, Ruth Mason
How The Massachusetts Supreme Judicial Court Should Interpret Wynne, Michael S. Knoll, Ruth Mason
All Faculty Scholarship
In this special report, Knoll and Mason discuss how the Massachusetts Supreme Judicial Court should apply Wynne when it hears on remand First Marblehead v. Commissioner of Revenue. The authors conclude that when it originally heard the case, the Massachusetts court mistakenly considered, as part of its internal consistency analysis, whether Gate Holdings Inc. experienced double state taxation. As developed by the U.S. Supreme Court and most recently applied in Wynne, the internal consistency test is not concerned with actual double taxation that may arise from the interaction of different states’ laws. Rather, the test is designed to determine …
Merger Is Indirect Gift In Cavallaro, Kerry A. Ryan
Merger Is Indirect Gift In Cavallaro, Kerry A. Ryan
All Faculty Scholarship
In Cavallaro v. Commissioner, the Tax Court held that a merger of two family-owned businesses resulted in a substantial taxable gift. The taxpayers avoided penalties by demonstrating that they relied in good faith on the mistaken advice of competent tax advisers.
A Simpler Verifiable Gift Tax, Wendy G. Gerzog
A Simpler Verifiable Gift Tax, Wendy G. Gerzog
All Faculty Scholarship
The purpose of this article is to propose a simpler verifiable gift tax, to reassert basic principles of transfer taxes, to encourage simple, outright gifts, and to eliminate some of the major abuses in the current gift tax regime. To accomplish these goals, the proposed tax would simplify gift completion rules, adopt a hard-to-complete rule of transfer taxation, reduce the annual exclusion while expanding the consumption exclusion, and employ loss of preference inducements to increase gift tax compliance.