Law Commons^™

Tax Aspects Of Innovative Real Estate Financing, Jack M. Feder

William & Mary Annual Tax Conference

No abstract provided.

Pitfalls In Transactions Between Related Parties, John W. Lee, William J. Irvin

William & Mary Annual Tax Conference

No abstract provided.

Conformity To Federal Income Tax Law, Volume I: Constitutional Authority For Automatic Federal Conformity, Assembly Revenue And Taxation Committee

California Assembly

No abstract provided.

California V. Grace Brethren Church, Lewis F. Powell Jr

Supreme Court Case Files

No abstract provided.

Merrion V. Jicarilla Apache Tribe, Lewis F. Powell Jr.

Supreme Court Case Files

No abstract provided.

Ramah Navajo School Board V. Bureau Of Revenue Of New Mexico, Lewis F. Powell Jr.

Supreme Court Case Files

No abstract provided.

Rawls, Justice, And The Income Tax, Charles R.T. O'Kelley

Scholarly Works

To the extent the primacy of justice is acknowledged in tax policy debate, such acknowledgment is coupled with the assertion that, of course, questions of justice cannot be meaningfully debated. The discussants then attempt to resolve the issue in question by use of ad hoc arguments of fairness and efficiency. The major purpose of this article is to show that not only is justice the primary issue, but that questions of justice can be meaningfully addressed. First, I will examine some of the ad hoc arguments of fairness and efficiency which have been made by proponents of a consumption base …

Open Transaction Treatment For Deferred Payment Sales After The Installment Sales Act Of 1980, Daniel S. Goldberg

Faculty Scholarship

No abstract provided.

Capital Expenditures: A Result In Search Of A Rationale, John W. Lee, Nina R. Murphy

Faculty Publications

No abstract provided.

State Taxation In The Federal System: Perspectives On Louisiana's First Use Tax On Natural Gas, Walter Hellerstein

Scholarly Works

The Louisiana First Use Tax is presently the subject of no less than eleven judicial proceedings in state and federal courts, including an original action pending before the Supreme Court and the Special Master to whom the case has been assigned. Any attempt to evaluate in detail the merits of these various challenges to the Louisiana levy in light of the myriad and complex issues they raise would hardly be possible in this forum. Indeed, at this junction, any such undertaking would probably be premature in light of the fact that many of the legal and evidentiary issues raised by …

The Massachusetts Fiscal System: Structure And Performance, Padraig O'Malley, Raymond G. Torto

Center for Studies in Policy and the Public Interest Publications

On November 4, 1980 the citizens of Massachusetts, by a vote of 59% to 41%, resoundingly endorsed a tax reduction plan known as Proposition 2 1/2. All communities in the Commonwealth were faced with an immediate reduction in their local revenues due to the immediate cut in the excise tax that Proposition 2 1/2 called for, and up to 130 communities will have to implement a 15% reduction in their tax levies for FY 1982.

Already there are protestations from many local officials that they cannot make the required tax cuts without severely reducing the level of local services. The …

Individual Retirement Accounts: Reflections On Some Unanswered Questions, Jeffrey G. Sherman

All Faculty Scholarship

No abstract provided.

Dubious Interpretative Rules For Construing Federal Taxing Statutes, Richard A. Westin

Law Faculty Scholarly Articles

Knowing even a substantial portion of the Internal Revenue Code of 1954 is a major achievement. Divining how the courts might react to a complex tax transaction is also terribly difficult, but for this ability lawyers are often well-rewarded on earth. The tools of this esoteric trade include a mass of interpretative rules of a most uncertain nature, as sophisticated tax advisors are well aware. This article discusses the application and limits of a litany of the interpretative rules. The rules are frequently applicable outside the tax field, but the following study is confined to their application to tax decisions. …

The Evolving Tax System Of The People’S Republic Of China, Richard Pomp, Timothy A. Gelatt, Stanley Surrey

Faculty Articles and Papers

In 1980, the People’s Republic of China adopted an income tax on joint ventures and individuals. These two taxes have created great speculation since the passage of the Chinese Joint Venture Law in 1979, which created rules and procedures for foreign investors. Much of this interest arises due to the common misconceptions surrounding China’s tax structure. After the enactment of the two aforementioned taxes, eleven distinct taxes exist in China.

This article examines the consolidated industrial and commercial tax and various income taxes, which are most relevant to foreigners. Section I describes the consolidated industrial and commercial tax. Section II …

Do Chinese Income Taxes Qualify For The U.S. Foreign Tax Credit, Richard Pomp, Timothy A. Gelatt

Faculty Articles and Papers

The desirability of doing business in any foreign country may turn on the ability to avoid double taxation. This issue is a serious concern for foreign countries. For example, in China authorities have expressed a willingness to pursue a treaty specifically removing the problem of double taxation regarding a proposed petroleum or mineral exploitation tax. However, without such a treaty, U.S. taxpayers will be left with an important question: Will the Chinese income taxes be creditable against their U.S. income taxes?

A U.S. foreign tax credit is generally allowed for foreign income taxes paid or accrued, or for foreign income …

Partnership Taxation: A Deceased Partner's Final Year, Michelle A. Cecil

Faculty Publications

One significant and unresolved partnership taxation problem is the taxation of a deceased partner's final year. In a recent case of first impression, Estate of Hesse v. Commissioner, the Tax Court held that the widow of a deceased partner could not include his share of partnership losses incurred during the year of his death on their final joint income tax return. Consequently, the widow lost thousands of dollars in tax refunds because the loss deductions could not offset prior taxable income. The Tax Court believed the result was illogical and unfair, but nevertheless found that the Code required the decedent's …

United States Tax Treaty Policy: An Overview, H. David Rosenbloom, Stanley Langbein

Articles

No abstract provided.

Corporate Distributions And The Income Tax: A Consideration Of The Inconsistency Between Subchapter C And Its Underlying Policy, Charles R.T. O'Kelley

Scholarly Works

This Article suggests that although one part of a corporate distribution may be analogous to a sale and the remainder to a dividend, there is no overlap of, or competition between, analogies. This lack of overlap is apparent when one realizes that a dividend and a sale are methods of realizing different types of gain, rather than alternative methods of realizing the same type of gain. This Article examines the basic conceptual model underlying the present system of taxing corporate distributions, describes the appropriate treatment of corporate distributions that is suggested by an understanding of the underlying concepts, and indicates …

The Taxation Of Employee Fringe Benefits, William D. Popkin

Articles by Maurer Faculty

No abstract provided.

Extracting Documents And Information From The Internal Revenue Service, Stuart E. Siegel, Stanley I. Langbein

Articles

No abstract provided.

Stock Redemptions: The Standards For Qualifying As A Purchase Under Section 302(B)., Douglas A. Kahn

Articles

This Article discusses the requirements of section 302(b) for characterizing a stock redemption as a purchase rather than as a dividend equivalent. The focus is primarily on two issues: (1) whether the election authorized by section 302(c)(2) to waive family attribution rules should be available to an entity such as a trust or estate; and (2) the determination of the standards to be applied in resolving whether a redemption is "not essentially equivalent to a dividend" so that section 302(b)(1) is applicable.