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Tax Law

2024

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Full-Text Articles in Law

The Court Of Justice Kicks Around The Dichotomy Between Data Protection And Competition Law Case Comment Of The Preliminary Ruling In Case C-252/21 Meta Platforms V. Bundeskartellamt, Alba Ribera Martínez Jul 2024

The Court Of Justice Kicks Around The Dichotomy Between Data Protection And Competition Law Case Comment Of The Preliminary Ruling In Case C-252/21 Meta Platforms V. Bundeskartellamt, Alba Ribera Martínez

Yearbook of Antitrust and Regulatory Studies

Data protection and competition law have been at a crossroads in terms of their integration. Antitrust authorities as well as data protection supervisory authorities have grappled with the question of whether both fields of law should be combined into the same analysis. The German competition authority, the Bundeskartellamt, was the first to fuse them in its landmark case against Facebook’s data processing terms and conditions. The exploitative theory of harm put forward by the German NCA is the first of its kind to integrate data protection considerations into the antitrust analysis, namely by drawing a line between an infringement with …


Death, Taxes, And Clean Energy: How The Inflation Reduction Act Harnesses Tax Law To Revitalize American Clean Energy, James A. Ferguson Jun 2024

Death, Taxes, And Clean Energy: How The Inflation Reduction Act Harnesses Tax Law To Revitalize American Clean Energy, James A. Ferguson

The Journal of Business, Entrepreneurship & the Law

This article explores the nature and impact of the IRA’s historic tax reform on U.S. clean energy markets, emphasizing its significance for businesses, American workers, the global community, and the climate. It begins with an overview of federal tax credits for clean energy, comparing German and American approaches to incentivizing clean energy investments. The article then details five key provisions of the IRA, including extensions of the ITC and PTC, creation of new credits, transferability of tax credits, prevailing wage and apprenticeship requirements, and additional tax credits for domestic content and siting. It further analyzes the IRA’s practical implications for …


Tax Law Analysis, Bradley T. Borden Jun 2024

Tax Law Analysis, Bradley T. Borden

Brooklyn Journal of Corporate, Financial & Commercial Law

Tax law has a unique analytical framework, which the nature of tax law requires. In areas of uncertainty, advisors and taxpayers are unable to determine the outcome of some reporting positions. If a taxpayer takes a reporting position that results in the taxpayer paying less tax at the time a tax return is filed, the taxpayer runs the risk of being required to pay tax later upon an IRS audit. Congress recognizes that there are areas of uncertainty in tax law and only imposes penalties if the authority supporting a reporting position is weak. To determine the strength of a …


The Section 1031 Qualified-Use Requirement, Bradley T. Borden Jun 2024

The Section 1031 Qualified-Use Requirement, Bradley T. Borden

Brooklyn Journal of Corporate, Financial & Commercial Law

Section 1031 allows owners of real property to dispose of their property and acquire replacement real property tax-free, and it is one of the most widely used transactional-planning provisions in federal tax law. With the variation in size of the transaction to which section 1031 applies comes varying levels of advice available to property owners. The significant variation in advice that property owners receive affects the actions that they take with respect to their property. Such variation appears to be most pronounced with respect to section 1031 exchanges that occur in proximity to business transactions (i.e., contributions to and distributions …


Ticnerships, Bradley T. Borden Jun 2024

Ticnerships, Bradley T. Borden

Brooklyn Journal of Corporate, Financial & Commercial Law

Tenancy-in-common (TIC) ownership has been around for centuries, but the commercial use of TIC ownership of real property has accelerated over the last couple of decades. The impetus for TIC ownership of real property is twofold: (1) a desire property owners have to obtain the tax benefits of section 1031 of the Internal Revenue Code and (2) the desire property owners have to own property with other property owners and other professional managers and developers. Because section 1031 only applies to exchanges of real property, interests in partnerships and LLCs—the most common type of real property ownership—do not qualify for …


Tax Law Analysis Applied To Section 1031 Exchanges & Proximate Business Transactions, Bradley T. Borden Jun 2024

Tax Law Analysis Applied To Section 1031 Exchanges & Proximate Business Transactions, Bradley T. Borden

Brooklyn Journal of Corporate, Financial & Commercial Law

The popularity of nonrecognition of gain under section 1031 of the Internal Revenue Code attracts advisors from several corners of the real estate industry, including real estate attorneys; real estate professionals, such as brokers; section 1031 qualified intermediaries; and tax advisors. The varying degrees of professional training often results in advice varying from one advisor to the next. Nowhere is this more apparent than with respect to so-called “drop-and-swap” and “swap-and-drop” transactions. Some advisors claim that property owners must hold property for a specific period of time before or after an exchange to qualify for section 1031 nonrecognition. Others advise …


The Section 1031 Exchange Requirement, Bradley T. Borden Jun 2024

The Section 1031 Exchange Requirement, Bradley T. Borden

Brooklyn Journal of Corporate, Financial & Commercial Law

Section 1031 is the most widely used transactional tax-planning tool in federal income tax law. It allows owners of real property to transfer their property and acquire like-kind real property without recognizing taxable gain. Yet one of its most fundamental elements—the exchange requirement—remains under-analyzed and widely misunderstood, with costly consequences to untold numbers of taxpayers every year. Inaccurate information regarding the exchange requirement is disseminated to property owners by advisors and exchange professionals, causing property owners to forego business and transactional opportunities. Other property owners pay for costly transactional planning at the urging of advisors who misunderstand the exchange requirement. …


Dol Fiduciary Rule 3.0 Strikeout, Base Knock, Or Home Run?, Antolin Reiber Jun 2024

Dol Fiduciary Rule 3.0 Strikeout, Base Knock, Or Home Run?, Antolin Reiber

DePaul Business & Commercial Law Journal

No abstract provided.


Money Is Morphing - Cryptocurrency Can Morph To Be An Environmentally And Financially Sustainable Alternative To Traditional Banking, Clovia Hamilton Jun 2024

Money Is Morphing - Cryptocurrency Can Morph To Be An Environmentally And Financially Sustainable Alternative To Traditional Banking, Clovia Hamilton

DePaul Business & Commercial Law Journal

No abstract provided.


Survey Evidence In Trademark Actions, Ioana Vasiu And Lucian Vasiu Jun 2024

Survey Evidence In Trademark Actions, Ioana Vasiu And Lucian Vasiu

DePaul Business & Commercial Law Journal

No abstract provided.


Corporate Governance And Compelled Speech: Do State-Imposed Board Diversity Mandates Violate Free Speech?, Salar Ghahramani Jun 2024

Corporate Governance And Compelled Speech: Do State-Imposed Board Diversity Mandates Violate Free Speech?, Salar Ghahramani

DePaul Business & Commercial Law Journal

No abstract provided.


The Real Persons Are The Corporations We Made Along The Way, Leonard Brahin Jun 2024

The Real Persons Are The Corporations We Made Along The Way, Leonard Brahin

DePaul Business & Commercial Law Journal

No abstract provided.


Front Matter Jun 2024

Front Matter

DePaul Business & Commercial Law Journal

No abstract provided.


Critical Tax Theory In The U.S., Australia, And Brazil: Current Challenges And Perspectives For The Future, Júlia Silva Araújo Carneiro Jun 2024

Critical Tax Theory In The U.S., Australia, And Brazil: Current Challenges And Perspectives For The Future, Júlia Silva Araújo Carneiro

University of Miami International and Comparative Law Review

Tax law has never been a neutral field. On the contrary, it impacts a range of identity axes, including socioeconomic class, race, and gender, and can act as a mechanism for maintaining the status quo or as a catalyst for social change. By examining the ongoing debate on critical tax theory in the United States, Australia, and Brazil, this Article shows that, no matter the differences found in distinct tax systems, tax law functions as a mirror of a country’s values and can be employed either to support or to disadvantage minorities.<.p>American critical tax scholars have consistently highlighted the …


History Of Mexico’S Tax Regime: A Haphazard Journey., Nicolás José Muñiz May 2024

History Of Mexico’S Tax Regime: A Haphazard Journey., Nicolás José Muñiz

University of Miami Inter-American Law Review

Mexico’s tax regime can best be described as haphazard and uncoordinated, as indirect levies were often assessed to satisfy short-term needs, irrespective of the economic capacity to pay of the local population. When compared to other members of the OECD, Mexico reports a relatively low tax-to-GDP ratio. This may be attributable to the vast presence of small to medium size companies conducting business in the informal market, the comparatively minor percentage of individuals and companies that regularly pay tax, and proliferation of tax benefits historically enjoyed by the wealthy.

This Article covers the more salient features of Mexican tax legislation …


Decoding Cryptocurrency Taxes: The Challenges For Estate Planners, Max Angel May 2024

Decoding Cryptocurrency Taxes: The Challenges For Estate Planners, Max Angel

Duke Law & Technology Review

In this article, Angel explores the unique challenges of estate planning with cryptocurrency, which include accurately valuing those assets, preserving their value, and addressing the complex tax implications of transferring cryptocurrency to heirs.


Reforming International Investment Law To Advance Tax Justice, Madeleine Songy May 2024

Reforming International Investment Law To Advance Tax Justice, Madeleine Songy

Columbia Center on Sustainable Investment

Reforming International Investment Law to Advance Tax Justice" highlights the detrimental impact of current international investment treaties on tax justice and sustainable development objectives. It argues that Investor-State Dispute Settlement (ISDS) mechanisms often impede states' ability to implement effective tax policies by allowing foreign investors to challenge tax measures. The brief recommends a comprehensive reform of international investment law to ensure that investment treaties support rather than undermine tax justice. This can include eliminating ISDS provisions, drafting new treaties that safeguard the sovereign right of states to regulate taxation, and facilitating cooperation among states to reform tax systems at national, …


California V. Texas: Avoiding An Antidemocratic Outcome, Jon Lucas Apr 2024

California V. Texas: Avoiding An Antidemocratic Outcome, Jon Lucas

Journal of Law and Health

The Affordable Care Act (“ACA”) contains a section titled “Requirement to Maintain Essential Minimum Coverage.” Colloquially known as the Individual Mandate, this section of the Act initially established a monetary penalty for anyone who did not maintain health insurance in a given tax year. But with the passage of the Tax Cuts and Jobs Act, the monetary penalty was reset to zero, inducing opponents of the ACA to mount a legal challenge over the Individual Mandate’s constitutionality. As the third major legal challenge to the ACA, California v. Texas saw the Supreme Court punt on the merits and instead decide …


Moore V. United States: The U.S. Supreme Court’S Impending Revisiting Of The Definition Of “Income”, Beckett Cantley, Geoffrey Dietrich Apr 2024

Moore V. United States: The U.S. Supreme Court’S Impending Revisiting Of The Definition Of “Income”, Beckett Cantley, Geoffrey Dietrich

University of Miami Business Law Review

The passing of the Tax Cuts and Jobs Act (“TCJA”) in December 2017 made significant changes that affect both domestic and international businesses income taxes. One of the most notable changes involves the Internal Revenue Code (“IRC”) section 965 transition tax on foreign earnings of foreign subsidiaries of U.S. companies, which deems those earnings to be repatriated. Effectively, this transition tax disregards the realization element thought by some to be a U.S. Constitutional requirement. As such, questions have arisen in the courts regarding the constitutionality of these laws. The most noteworthy case of Moore v. United States has found its …


Reply Brief Of Edward A. And Doris Zelinsky In The New York Tax Appeals Tribunal, Edward A. Zelinsky, Doris Zelinsky Apr 2024

Reply Brief Of Edward A. And Doris Zelinsky In The New York Tax Appeals Tribunal, Edward A. Zelinsky, Doris Zelinsky

Faculty Amicus Briefs

Three reasons of state law independently compel a refund of the New York income tax Professor Edward A. Zelinsky paid on the Cardozo Law School salary Professor Zelinsky earned during the COVID period from March 15, 2020 through December 31, 2020. That salary was not New York source income because Professor Zelinsky earned that COVID period salary at his home in Connecticut “wholly without” New York’s borders. 20 N.Y.C.R.R. § 132.4(b). In addition, New York’s “convenience of the employer” rule does not apply to that COVID period salary because Professor Zelinsky’s remote work at home was for Cardozo’s necessity rather …


State Constitutional Limitations To Cities Taxing The Digital Economy, Lauren Shores Pelikan Apr 2024

State Constitutional Limitations To Cities Taxing The Digital Economy, Lauren Shores Pelikan

Faculty Publications

The digital economy’s rapid evolution, most recently with the rise of artificial intelligence, demands a reevaluation of state constitutional limitations on local taxation of digital transactions. Citizens have long feared excessive or unfair tax burdens, hence the adoption of constitutional amendments that prohibit legislators from increasing taxes or imposing new taxes without a public vote. However, these constitutional limitations are now preventing cities from taxing digital transactions that are taking over the economy. This is a serious financial problem for cities whose traditional sources of tax revenue, such as sales taxes and property taxes, are dwindling due to the digitalizing …


The Missing "T" In Esg, Danielle A. Chaim -- Assistant Professor, Gideon Parchomovsky -- Professor Of Law Apr 2024

The Missing "T" In Esg, Danielle A. Chaim -- Assistant Professor, Gideon Parchomovsky -- Professor Of Law

Vanderbilt Law Review

Environmental, social, and governance (“ESG”) philosophy is the zeitgeist of our time. The rise of ESG investments came against the perceived failure of the government to adequately promote socially important goals. And so, corporations are now being praised and credited for stepping up where the government has fallen short. In this Essay, we contend that the standard narrative of ESG suffers from a major flaw. The reason for this discrepancy is taxes. The companies that are widely perceived as saviors of the ESG era are in fact the cause of some of the main deficiencies ESG seeks to redress. Astoundingly, …


The Need For A New Political Playbook Which Mitigates The Public Harm Caused By Tax Incentives, Robert Louis Perkins Apr 2024

The Need For A New Political Playbook Which Mitigates The Public Harm Caused By Tax Incentives, Robert Louis Perkins

Mississippi College Law Review

This article is politically pragmatic and written with a clear acknowledgement that tax incentives will continue to be utilized by policymakers, despite data continuing to reflect that the actual influence tax incentives have in determining where a company or industry locates is often exceeded by their cost. Government investment in public services such as education and infrastructure are often scaled back to accommodate the cost of the incentives. However, public officials have strong incentives of their own which encourage them to rely on these costly measures. These incentives include the resulting political points they score from being able to take …


Building Resilience By Removing Barriers: Addressing Structural Impediments To Advocacy By Nonprofit Organizations On Behalf Of The Unenfranchised, Kirsten Widner, Heather M. Kolinsky Mar 2024

Building Resilience By Removing Barriers: Addressing Structural Impediments To Advocacy By Nonprofit Organizations On Behalf Of The Unenfranchised, Kirsten Widner, Heather M. Kolinsky

University of Cincinnati Law Review

Charitable contributions, particularly from private foundations, are an essential source of support for many nonprofit charitable organizations. However, the ability to accept these contributions comes with significant restrictions on lobbying and advocacy. Using vulnerability theory and an original survey of nonprofit advocacy organizations, we show that current restrictions on 501(c)(3) organizations disproportionally limit advocacy on behalf of the most politically disadvantaged groups—those without the right to vote. This, in turn, reinforces existing inequalities in whose voices are heard and whose interests are considered by policymakers. This Article argues that reforming the laws that structure what organizations can take tax-deductible charitable …


A Tale Of Two Subject-To-Tax Rules, Sol Picciotto, Jeffery M. Kadet, Bob Michel Mar 2024

A Tale Of Two Subject-To-Tax Rules, Sol Picciotto, Jeffery M. Kadet, Bob Michel

Articles

In this article, we analyze and compare two proposals for a new subject-to-tax rule (STTR) provision to be included in tax treaties, one from the U.N. Tax Committee and the other from the G20/OECD inclusive framework on base erosion and profit shifting. The U.N. proposal is broad, and would clarify that restrictions in tax treaties on taxation of income at the source where it is derived are conditional on that income being taxed at an agreed-upon minimum rate in the country where it is received. The inclusive framework version is much more limited, being confined to payments between connected entities …


Artful Imbalance: How The Us Tax Code And State Trust Laws Enable The Growth Of Inequality Through High-Value Art Collections, Mimi Strauss Mar 2024

Artful Imbalance: How The Us Tax Code And State Trust Laws Enable The Growth Of Inequality Through High-Value Art Collections, Mimi Strauss

Brooklyn Law Review

The United States has become the leading jurisdiction for those who wish to buy and store high-value art and NFTs, pay as few taxes as possible, and ultimately secure their wealth for generations. This “onshore” tax crisis is the result of tax loopholes, money laundering, the securitization of art and NFTs, and the state-by-state trust system. These forms of tax dodging—both legal and illegal—contribute to wealth inequality and deplete the welfare state. As natural disasters and pandemics become ever more present, the United States will rely more heavily on taxes, and that burden should be carried by everyone, not just …


Against Monetary Primacy, Yair Listokin, Rory Van Loo Mar 2024

Against Monetary Primacy, Yair Listokin, Rory Van Loo

Faculty Scholarship

Every passing month of high interest rates increases the chances of massive job cuts and a devastating recession that still might come if the Fed maintains interest rates at their current levels for long enough. Recessions impose not only widespread short-term pain but also lifelong harms for many, as vulnerable populations and those who start their careers during a downturn never fully recover. Yet hiking interest rates is the centerpiece of U.S. inflation-fighting policy. When inflation is high, the Fed raises interest rates until inflation is tamed, regardless of the sacrifice that ensues. We call this inflation-fighting paradigm monetary primacy. …


Constitutional Restraints On Intrastate Distribution Of Taxing Authority, Walter Hellerstein Feb 2024

Constitutional Restraints On Intrastate Distribution Of Taxing Authority, Walter Hellerstein

Scholarly Works

No abstract provided.


Tax-Letics: Addressing The Constitutionality Of The "Jock Tax", Stanley D. Ference Iv Feb 2024

Tax-Letics: Addressing The Constitutionality Of The "Jock Tax", Stanley D. Ference Iv

Ohio Northern University Law Review

No abstract provided.


Brief For Amicus Curiae Professor Edward A. Zelinsky In Support Of Appellants And Reversal, Edward A. Zelinsky Jan 2024

Brief For Amicus Curiae Professor Edward A. Zelinsky In Support Of Appellants And Reversal, Edward A. Zelinsky

Faculty Amicus Briefs

DOL’s tie-breaking rule violates ERISA’s duty of loyalty under ERISA § 404(a)(1)(A). ERISA’s duty of loyalty requires ERISA-regulated trustees to invest plan resources for the “exclusive purpose of . . . providing” economic benefits to plan participants and their beneficiaries, “solely in the interest of the participants and beneficiaries.” The tie-breaking rule violates this stringent statutory duty of loyalty because it permits plan trustees investing plan resources to consider “collateral benefits,” i.e., the welfare of third parties or social goals. But ERISA‟s plain text does not permit this result. The words ““solely” and “exclusive purpose” in § 404(a)(1)(A) do not …