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Articles 1 - 8 of 8
Full-Text Articles in Law
Tax In The Cathedral: Property Rules, Liability Rules, And Tax, Andrew Blair-Stanek
Tax In The Cathedral: Property Rules, Liability Rules, And Tax, Andrew Blair-Stanek
Andrew Blair-Stanek
The distinction between property rules and liability rules has revolutionized our understanding of many areas of law. But scholars have long assumed that this distinction has no relevance to tax law. This assumption is flatly wrong. Tax law currently uses both property rules and liability rules, and the choice between them has real consequences. When a taxpayer violates a requirement for a favorable tax status, tax law either imposes additional tax proportionate to the harm (a liability rule) or imposes the draconian penalty of taking away the tax status entirely (a property rule). This recognition has three key implications. First, …
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 …
Retirement Security: Leveraging The Research And Development Tax Credit, Tristen J. Cohen
Retirement Security: Leveraging The Research And Development Tax Credit, Tristen J. Cohen
Tristen J Cohen
Abstract: The long-term health and stability of the social security program is currently being threatened by significant demographic shifts and petty political gamesmanship. The importance of the program combined with the significance of the chance of insolvency requires that some action be taken in the present to mitigate problems in the future. Congress can do this by decreasing benefits, raising taxes, or finding alternative ways to raise revenue. One such alternative is investing in program that will increase economic activity and productivity. This paper argues that the Startup Innovation Credit Act of 2013 leverages the research and development credit …
Tax Advice For The Second Obama Administration, Paul L. Caron
Tax Advice For The Second Obama Administration, Paul L. Caron
Pepperdine Law Review
Twenty-five of the nation’s leading tax academics, practitioners, journalists, and public intellectuals gathered in Malibu, California on the Friday before President Obama’s second inauguration to plead for tax reform. The papers published in this issue of the Pepperdine Law Review provide very different prescriptions for America’s tax ills. But there is a unanimous diagnosis that the country’s tax system is sick indeed. A re-elected president’s inauguration offers a particularly propitious moment to put politics aside and embark on a treatment plan. If our lawmakers are interested in healing our tax wounds, the ideas presented in these pages offer a good …
The Relevance Games: Congress's Choices For Economic Substance Gamemakers, Charlene Luke
The Relevance Games: Congress's Choices For Economic Substance Gamemakers, Charlene Luke
UF Law Faculty Publications
Codification of the economic substance doctrine in 2010 ushered in a new phase in the debate regarding the meaning and reach of the doctrine. The main statutory hint as to the intended scope of the codified economic substance doctrine is ambiguous, providing, “The determination of whether the economic substance doctrine is relevant to a transaction shall be made in the same manner as if this subsection had never been enacted.” This Article argues that this language should be read in light of the codification history, which stretches back for over ten years before enactment. This history suggests that the relevance …
Taxation And Incentives In The Business Enterprise, David Gamage, Shruti Rana
Taxation And Incentives In The Business Enterprise, David Gamage, Shruti Rana
Shruti Rana
This book chapter discusses the tax perspective on business enterprise law with a comparative focus on the U.S. and Japan.
Close The Loophole: The Marketplace Fairness Act And Its Likely Passage, Bryan J. Soukup
Close The Loophole: The Marketplace Fairness Act And Its Likely Passage, Bryan J. Soukup
Law Student Publications
In this stagnant economy, brick and mortar retailers (brick and mortars) are voicing increasingly strong objections to the current state of online tax collection considering they must always collect state sales tax. Due in part to this uneven playing field, brick and mortars lose thousands of dollars a day in sales to online retailers. States, too, are losing revenue in the form of unpaid use taxes and, like the brick and mortars, are proponents of legislation allowing states to require online retailers to collect sales tax from their customers. Proponents of federal legislation on this issue point to the fact …
Recent Developments In Federal Income Taxation: The Year 2012, Martin J. Mcmahon Jr., Ira B. Shepard, Daniel L. Simmons
Recent Developments In Federal Income Taxation: The Year 2012, Martin J. Mcmahon Jr., Ira B. Shepard, Daniel L. Simmons
UF Law Faculty Publications
This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during the most recent twelve months - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted - unless one of us decides to go …