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Full-Text Articles in Law
Deciphering The Supreme Court's Opinion In Wynne, Walter Hellerstein
Deciphering The Supreme Court's Opinion In Wynne, Walter Hellerstein
Scholarly Works
In Wynne, the Supreme Court held that Maryland's personal income tax regime violated the dormant Commerce Clause because It taxed income on a residence and source basis without giving a credit to residents for in· come taxed on a source basis by other states. The Court suggested, how· ever, that a state may tax residents on all their Income without providing a credit for taxes paid by other states if the state did not tax nonresidents on income from sources within the state, even though such a taxing regime might result in double taxation of interstate commerce.
Taxing Compensatory Stock Rights Transferred In Divorce, Gregg Polsky, Kathleen Delaney Thomas
Taxing Compensatory Stock Rights Transferred In Divorce, Gregg Polsky, Kathleen Delaney Thomas
Scholarly Works
Stock-based compensation has become increasingly prevalent in recent years. As a result, many high net worth divorces now result in the transfer of compensatory stock rights from the employee spouse to the nonemployee spouse as part of the marital settlement. Despite this growing trend, the tax consequences of these transfers have not yet been explored fully. This Article endeavors to fill this void and explain both the planning opportunities and potential pitfalls in transferring compensatory stock rights in divorce. These transfers can shift ordinary income from a high-bracket spouse to a lower-bracket spouse, creating a tax surplus that enlarges the …
Book Review. Reviving Fiscal Citizenship, Ajay K. Mehrotra
Book Review. Reviving Fiscal Citizenship, Ajay K. Mehrotra
Articles by Maurer Faculty
In recent years, numerous lawmakers, policy analysts, and scholars have been decrying the many defects of the present U.S. income tax system. Few have attempted to defend our return-based mass income tax. This essay reviews Learning to Love Form 1040, Lawrence Zelenak’s stirring and persuasive defense of a simplified version of our present federal income tax system. In contrast to the conventional economic critiques, Zelenak explores the underappreciated social, cultural, and political benefits of a return-based, mass income tax. Chief among these, he argues, is the existing regime’s potential to raise the tax consciousness of the average citizen and to …
Charitable Organization Oversight: Rules V. Standards, Philip Hackney
Charitable Organization Oversight: Rules V. Standards, Philip Hackney
Articles
Congress has traditionally utilized standards as a means of communicating charitable tax law in the Code. In the past fifteen years, however, Congress has increasingly turned to rules to stop fraud and abuse in the charitable sector. I review the rules versus standards debate to evaluate this trend. Are Congressional rules the best method for regulating the charitable sector? While the complex changing nature of charitable purpose would suggest standards are better, the inadequacy of IRS enforcement and the large number of unsophisticated charitable organizations both augur strongly in favor of rules. Congress, however, is not the ideal institution to …
The Case For Taxing (All Of) Labor Income, Consumption, Capital Income, And Wealth, David Gamage
The Case For Taxing (All Of) Labor Income, Consumption, Capital Income, And Wealth, David Gamage
Articles by Maurer Faculty
Perhaps the most fundamental questions in tax legal scholarship concern debates about what should be the ideal tax base or tax bases. In particular, scholars have vigorously disagreed about (1) whether the United States should follow other developed countries in supplementing its income tax with a value-added consumption tax, and (2) whether governments should seek to tax capital income and wealth or should instead seek to redesign or replace income taxes with progressive consumption taxes.
The prior economics-oriented theoretical literature on these questions has largely focused on analyzing labor supply and savings behaviors. Yet the existing empirical literature does not …