Law Commons^™

Sb 6: The Review, Creation, And Extension Of Georgia Tax Credits And Deductions, Richard Hardeman, Aidan Zafar

Georgia State University Law Review

The Act provides for the review of tax credits and deductions while extending or creating various tax credits and deductions. First, the Act allows certain government officials to request a review of up to five tax credits or deductions per year to evaluate their economic efficiency. Second, the Act creates or extends tax credits and deductions for medical and pharmaceutical manufacturers, high-impact aerospace defense projects, short-line railroads, ticket sales for fine arts performances, rehabilitation of historic structures, yacht maintenance, and projects of regional significance.

Bearing Hospital Tax Breaks: How Non-Profits Benefit From Your Surprise Medical Bills, Taylor N. Armstrong

Georgia State University Law Review

This Note addresses the growing issue of surprise medical bills and how the United States Tax Code can be used to prevent many patients from receiving these bills. Part I provides a background on surprise billing and market factors that have led to an increase in the bills as well as current legislative solutions to the problem. Part II analyzes the role that hospitals play in the insurance market, the current standards for nonprofit hospitals to receive tax exemption under Internal Revenue Code (IRC) § 501, and how these legal standards fall short of accomplishing the goals of the tax …

Hb 61 - Revenue And Taxation, Taylor N. Armstrong, Caitlin E. Correa

Georgia State University Law Review

The Act amends Georgia’s sales tax statute to shift the burden for the collection of sales taxes on online sales from the purchaser to the retailer.

How Special Is The Special Timing Rule? Analyzing The Timing Of Fica Taxation In Nonqualified Deferred Compensation Plans, Alan J. Ponce

Georgia State University Law Review

Many employers offer nonqualified deferred compensation plans as a benefit to select employees, and those plans allow the employees to prepare for retirement in a tax-efficient manner. For employers,designing and administering such plans in compliance with federal law represents a paramount concern in order to achieve the tax advantages such plans entail. However, for these employers, there remains an inherent ambiguity in the tax code regarding how and when employers should withhold Federal Insurance Contribution Act (FICA) taxes—that is, Social Security and Medicare taxes—on deferred compensation in nonqualified retirement plans.

Tax regulations provide two distinct methods for withholding FICA taxes …

Tax Compliance In A Decentralizing Economy, Manoj Viswanathan

Georgia State University Law Review

Tax compliance in the United States has long relied on information from centralized intermediaries—the financial institutions,employers, and brokers that help ensure income is reported and taxes are paid. Yet while the IRS remains tied to these centralized entities,consumers and businesses are not. New technologies, such as sharing economy platforms (companies such as Airbnb, Uber, and Instacart)and the blockchain (the platform on which various cryptocurrencies are based) are providing new, decentralized options for exchanging goods and services.

Without legislative and agency intervention, these technologies pose a critical threat to the reporting system underlying domestic and international tax compliance. Until now, legal …

Taxing Marijuana: Earmarking Tax Revenue From Legalized Marijuana, Armikka R. Bryant

Georgia State University Law Review

This Article provides an overview of the legal, political, and societal landscapes in states that have legalized marijuana and imposed taxes on its sale. The article begins by summarizing the War on Drugs’ origins, its fiscal expenditures, and the social policies that ultimately led to its failure.

Part I briefly details the history of marijuana regulation starting from the early twentieth century up to the Obama administration’s decision to permit recreational marijuana laws to stand in Washington state and Colorado. Part II dives deeper into the social costs of the War on Drugs and outlines the hardships faced by those …

Fasb - The Irs's New Best Friend: How Fin 48 Affects The Taxpayer-Irs Relationship And Potential Taxpayer Challenges, Andrew W. Jones

Georgia State University Law Review

No abstract provided.

Highways, Bridges, And Ferries Department Of Transportation: Allow Public-Private Initiatives For Department Of Transportation System Projects, Daugherty Denise

Georgia State University Law Review

The Act allows the Department of Transportation to accept and evaluate unsolicited proposals from private entities and to enter into contracts for public-private initiatives for transportation system projects. It provides a period of time for contractors to submit competing bids. The Act also increases the amount of funding that the Department of Transportation can contribute to these projects.

Smart Growth Micro-Incentives And The Tree-Cut Tax Case, William Buzbee

Georgia State University Law Review

No abstract provided.

Taxation Of Loan Origination Expenditures: Lenders May No Longer Bank On Deductibility, Roger T. Weitkamp

Georgia State University Law Review

No abstract provided.

Revenue And Taxation Income Taxes: Increase Amount Of Personal And Dependent Exemptions With Respect To Georgia Taxable Net Income; Provide For Periodic Additional Increases With Respect To Dependent Exemption Amounts; Increase Amount Of Deduction In Lieu Of Personal Exemptions With Respect To Estates Or Trusts; Increase Amount Of Deductions That Elderly Or Blind Taxpayers May Take; Change Amount Of Certain Taxable Withholding Exemption Allowances, David L. Hoffman

Georgia State University Law Review

The Act provides for changes in the income taxation of individuals by increasing both exemptions and deductions and makes prior law gender neutral. Beginning in the 1998 tax year, individuals filing a joint tax return may claim a $5400 exemption, while an individual filing separately may claim a $2700 exemption. Further, an individual may claim a $2700 exemption for each dependent until the 2003 tax year when the dependent exemption increases to $3000. In lieu of the personal exemption, an individual may claim an exemption of $2700 for an estate and $1350 for a trust. Further, the Act increases to …

Revenue And Taxation Taxation Of Intangibles: Modify The Manner Of Calculating The State Occupancy Tax On Depository Financial Institutions; Provide Definitions Applicable To Taxation Of Financial Institutions And Intangible Personal Property Tax; Modify Carry-Over Of Unused Credits With Respect To Income Taxation Of Corporations, Kean J. Decarlo

Georgia State University Law Review

This Act provides a basis for the proper taxation of financial institutions conducting business within the state. The Act allows the state to tax a financial institution's percentage of business conducted within the state. The Act eliminates the requirement that the financial institution be domiciled in the state in order to be properly taxed. The Act also requires a report from the state revenue commissioner to ensure that the resulting taxation changes under this Act are revenue-neutral.

Your Worst Nightmare: An Accountant With A Gun! The Criminal Investigation Division Of The Internal Revenue Service: Its Past, Present, And Future, Glenn D. Baker

Georgia State University Law Review

No abstract provided.

Revenue And Taxation Income Taxes: Provide Provisions Regarding Treatment By Corporations Of Foreign Dividends, Job Tax Credits, Withholding Taxes On Distributions From Partnerships, Withholding Taxes On Transfers Of Real Property By Nonresidents, And Computer Software Ad Valorem Tax, Maria Friedman

Georgia State University Law Review

HB 536 clarifies which dividends received from foreign sources a corporation may deduct from its net income and creates a job tax credit program for jobs created in less developed areas. HB 384 creates a withholding tax equal to four percent of the distributions made from partnerships, S corporations, and limited liability companies that do business in Georgia to nonresident members. HB 385 creates a withholding tax on transfers of real property from nonresidents to residents. HB 350 changes the list of intangible personal property subject to ad valorem taxation to include computer software.

Revenue And Taxation Ad Valorem Taxation Of Property: Provide For The Ad Valorem Taxation Of Timber And Current Use Valuation / Taxation Of Bona Fide Conservation Use Property And Bona Fide Residential Transitional Property, Susan L. Daniels

Georgia State University Law Review

The Act allows taxation of standing timber when it is cut or sold. The Act also allows certain qualifying properties to be valued according to current use rather than fair market value to preserve the aesthetic beauty of the State of Georgia and to allow property owners to keep large pieces of property that were previously unaffordable due to high taxes.

Revenue And Taxation Chapter 7a: Provide Tax Credit For Certain Persons Whose Adjusted Gross Income Does Not Exceed $19,999, Susan L. Daniels

Georgia State University Law Review

The Act provides tax relief in the form of a tax credit to low-income residents and the working poor in Georgia. The tax credit applies to residents with adjusted gross incomes under $19,999. The Act repeals the tax exemption for certain foods for off-premises human consumption.

Revenue And Taxation Tax Executions: Provide For Payment And Transfer, D. Johnson

Georgia State University Law Review

The Act requires the Tax Commissioner or collector to provide thirty-days'; written notice to a taxpayer that an execution will be issued if delinquent taxes are not paid. The Act also provides that a third party, other than a tax official or employee, may pay the tax and receive a transfer of the execution provided he has notified the individual against whom the execution has issued.

Tax Aspects Of Divorce And Separation And The Innocent Spouse Rules, George Carey

Georgia State University Law Review

No abstract provided.

Alimony Trust Taxation: Effects Of The Tax Reform Act Of 1984, Patricia E. Tate

Georgia State University Law Review

No abstract provided.