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Full-Text Articles in Law
Contribution Of A Built-In Loss To A Partnership, Douglas A. Kahn
Contribution Of A Built-In Loss To A Partnership, Douglas A. Kahn
Articles
Before 2004, it was possible to use the partnership tax provisions of the code to shift the benefit ofa loss deduction for a decline in property valuefrom the person who incurred it to another person.One method of accomplishing that goal involvedthe contribution of depreciated property to a partnership.
Gain From The Sale Of An Income Interest In A Trust, Douglas A. Kahn
Gain From The Sale Of An Income Interest In A Trust, Douglas A. Kahn
Articles
A tax doctrine that is related to the anticipatory assignment of income doctrine, but yet different from that doctrine is variously referred to as the "substitute for ordinary income doctrine" or the "anticipation of income doctrine." This latter doctrine arises on the sale of an item. The test often utilized to determine whether that latter doctrine applies is whether the sale of an item substantively represents the receipt of a substitute for future income - i.e., are the proceeds of the sale given "in lieu of" ordinary income that the seller would have otherwise received at a later date. The …
Guaranteed Payments Made In Kind By A Partnership, Douglas A. Kahn, Faith Cuenin
Guaranteed Payments Made In Kind By A Partnership, Douglas A. Kahn, Faith Cuenin
Articles
If a partnership makes a payment to a partner for services rendered in the latter's capacity as a partner or for the use of capital, to the extent that the payment is determined without regard to partnership income, it is characterized by the Internal Revenue Code as a "guaranteed payment" and is treated differently from other partnership distributions.' In addition, if a partnership makes a payment in liquidation of a retiring or deceased partner's interest in the partnership, part of that payment may be characterized as a guaranteed payment by section 736(a)(2). We will discuss in Part VI of this …
Principles That Should Govern In The Framing Of Tax Laws, Thomas M. Cooley
Principles That Should Govern In The Framing Of Tax Laws, Thomas M. Cooley
Articles
The problem of suitable and justtaxation is one which is forever demanding solution, butnever solved. Adam Smith gave to the world certain rules which should governin taxation, the first of which was that "The subjects of every state ought to contribute towards the support of the government as nearly as possible in proportion to their respective abilities - that is, in proportion to the revenue which they respectively enjoy under the protection of the state." While most writers on political economy have been disposed to accept this as a sound and just rule, some have objected to it that it …