Law Commons^™

The Deceptively Disparate Treatment Of Business And Investment Interest Expense Under A Cash-Flow Consumption Tax And A Schanz-Haig-Simons Income Tax, J. Clifton Fleming, Jr.

Faculty Scholarship

No abstract provided.

Taxpayer Relief Act Of 1997: Provisions Affecting Retirement Planning And Employee Benefits, Louis A. Mezzullo

William & Mary Annual Tax Conference

No abstract provided.

S Corporations, Samuel P. Starr

William & Mary Annual Tax Conference

No abstract provided.

Planning For The Operation Of Pass Through Entities, Allan G. Donn

William & Mary Annual Tax Conference

No abstract provided.

Simplified Entity Classification Under The Final Check-The-Box Regulations, Roger F. Pillow, John G. Schmalz, Samuel P. Starr

William & Mary Annual Tax Conference

No abstract provided.

Planning For The Operation Of Pass Through Entities, Samuel P. Starr

William & Mary Annual Tax Conference

No abstract provided.

Llcs And Llps, Allan G. Donn

William & Mary Annual Tax Conference

No abstract provided.

S Corporations, Bryan P. Collins

William & Mary Annual Tax Conference

No abstract provided.

For Realization: Income Taxation, Sectoral Accretionism, And The Virtue Of Attainable Virtues, Edward A. Zelinsky

Articles

No abstract provided.

Commerce Clause Restraints On State Tax Incentives, Walter Hellerstein

Scholarly Works

The states' provision of tax incentives designed to encourage economic development within their borders has long been a feature of the American legislative landscape. Today every state provides tax incentives as an inducement to local industrial location and expansion. Indeed, scarcely a day goes by without some state offering yet another tax incentive to spur economic development, often in an effort to attract a particular enterprise to the state.

The debate over the efficacy and wisdom of state tax and other business incentives is intense and important, as other articles in this Symposium plainly reveal. My purpose here, however, is …

Nonrecourse Debt In Excess Of Fair Market Value: The Confluence Of Basis, Realization, Subchapter K And The Need For Consistency, Daniel S. Goldberg

Faculty Scholarship

No abstract provided.

Theories Of The Federal Income Tax Exemption For Charities: Thesis, Anithesis, And Synthesis, Rob Atkinson

Scholarly Publications

No abstract provided.

Restating Capitalization Standards And Rules: The Case For "Rough Justice" Regulations (Part Two), John W. Lee, Eldridge Blanton, Veena Luthra, Glenn Walberg, Darryl Whitesell

Faculty Publications

No abstract provided.

Retirement Plan Contributions And Withdrawals, Paul J. Streer, Ray A. Knight, A. Bruce Clements

Faculty and Research Publications

Qualified retirement plans provide for tax deferral, but they are also subject to a 15% excise tax on excess distributions or accumulations, potentially higher marginal income tax rates on plan withdrawals, mandatory contributions for employers, estate taxes at death, and possible substantial income tax liability for plan beneficiaries. Three possible planning strategies to optimize return on funds available for contributions to a qualified plan include investment in alternative assets, lifetime gifts, and accelerated plan withdrawals. While the 3-year suspension of excess distribution excise taxes under the Small Business Job Protection Act may favor plan withdrawals, in certain situations participants are …

A Brilliant Instance Of Flabby Thinking, Deborah A. Geier

Law Faculty Articles and Essays

This article provides a short history of the lower-of-cost-or-market rule.

The Definition Of Voting Stock And The Computation Of Voting Power Under Sections 368(C) And 1504(A): Recent Developments And Tax Lore, Stuart G. Lazar

Journal Articles

Although the concepts of "voting stock" and "voting power" are pervasive throughout the Code, until recently, courts, commentators and the Service have devoted minimal energy to demystifying the confusion surrounding the definition of voting stock and even less to expanding upon the methodology of computing voting power. Recent developments, however, may prompt practitioners to take a second look at these terms. While a 1995 decision by the Tax Court adds little to the existing body of authority with respect to the determination of the owner of voting stock, the Service's analysis of the voting power requirement in a 1994 private …

Suspect Linkage: The Interplay Of State Taxing And Spending Measures In The Application Of Constitutional Antidiscrimination Rules, Dan T. Coenen, Walter Hellerstein

Scholarly Works

This article examines an important and recurring question that courts frequently resolve, but rarely analyze: whether taxing and spending measures should be viewed together when a state imposes a nondiscriminatory tax but also affords relief to some taxpayers through government spending. The answer to this question will often determine whether the state's actions violate constitutional strictures against discriminatory taxation. The taxing measure and the spending measure will generally pass muster if viewed in isolation. After all, courts rarely invalidate nondiscriminatory taxing measures on constitutional grounds. And true government spending measures, if considered alone, plainly fall outside the reach of constitutional …

Suspect Linkage: The Interplay Of State Taxing And Spending Measures In The Application Of Constitutional Antidiscrimination Rules, Dan T. Coenen, Walter Hellerstein

Scholarly Works

This article examines an important and recurring question that courts frequently resolve, but rarely analyze: whether taxing and spending measures should be viewed together when a state imposes a nondiscriminatory tax but also affords relief to some taxpayers through government spending. the answer to this question will often determine whether the state's actions violate constitutional strictures against discriminatory taxation. The taxing measure and the spending measure will generally pass muster if viewed in isolation. After all, courts rarely invalidate nondiscriminatory taxing measures on constitutional grounds. And true government spending measures, if considered alone, plainly fall outside the reach of constitutional …

Taxing Electronic Commerce: Preliminary Thoughts On Model Uniform Legislation, Walter Hellerstein

Scholarly Works

This report on Taxing Electronic Commerce was presented at the symposium on multi-jurisdictional taxation of electronic commerce at Harvard University on April 5, 1997. This report describes the normative principles shared by most serious analyses of the problems raised by state taxation of electronic commerce. It then attempts to translate these principles into legal rules that could provide a model for uniform legislation in this area. Finally it addresses constitutional questions that will likely be encountered in any effort to implement such legislation.

Government Precommitment To Tax Incentive Subsidies: The Impact Of United States V. Winstar Corp. On Retroactive Tax Legislation, Daniel S. Goldberg

Faculty Scholarship

No abstract provided.

State Taxation Of Electronic Commerce, Walter Hellerstein

Scholarly Works

The coming of the information age has profound implications for state taxation as it does for just about everything else. The exponential growth and increasing commercialization of the Internet, along with the sweeping technological and regulatory changes that have reconfigured the telecommunications industry, pose a daunting challenge to the states’ traditional approaches to taxing business activity and the telecommunications system that facilitates it. State tax administrators and policymakers, alarmed at the prospect that their tax bases will disappear into cyberspace, are seeking means to accommodate their taxing regimes to the new technological environment. The business community, on the other hand, …

The Hazards Of Tinkering With The Common Law Of Future Interests: The California Experience, Laura E. Cunningham

Articles

No abstract provided.

Plain Meaning, The Tax Code, And Doctrinal Incoherence, Mary L. Heen

Law Faculty Publications

This Article examines the Supreme Court's interpretive approach in recent tax cases. Part I of the Article sets the stage by describing the Court's interpretive approach, its focus on the relative determinacy of statutory language, and the backdrop of Chevron. Part II examines the effect of these issues on tax law, focusing on three cases that construe the same Code provision, section 104(a)(2), but apply quite different interpretive approaches. In United States v. Burke, the Court appeared to find the provision ambiguous and relied in part upon an interpretation of the statute contained in a Treasury regulation. Subsequently, in Commissioner …

Taxation Of Telecommunications And Electronic Commerce, Walter Hellerstein

Scholarly Works

No abstract provided.

Women's, Men's And Children's Equalities: Some Reflections And Uncertainties, Nancy E. Dowd

UF Law Faculty Publications

One of the most striking ideas that Edward J. McCaffery suggests in Taxing Women is that equality, of the right sort, must be thought of in gendered terms. We must relinquish the idea that we can find or declare some neutral principle that will achieve the goal of equality, particularly with respect to the relationship between work and family, because the social context makes it impossible. Rather, we need to devise gender-specific strategies to achieve equality, even if they are couched in gender-neutral language. In my recent work examining single parent families, I have come to much the same conclusion: …

U.S. International Treatment Of Financial Derivatives, Reuven Avi-Yonah, Linda Swartz

Articles

The current proposals to substitute consumption for income as the principal U.S. tax base have already been the topic of considerable commentary in these pages. However, one issue has received relatively little attention in the discussion of the various reform proposals: What potential complications are likely to arise if a single major player in the world's economy unilaterally adopts radical tax reform? The global economy is becoming more and more unified, with multinational corporations dominating world trade and trillions of dollars in portfolio investment flowing across national boundaries. In this economy, what would be the consequences if a single country, …

Charitable Endowments And The Democratization Of Dynasty, Evelyn Brody

All Faculty Scholarship

Charitable endowments and other passive investments exceed $425 billion. Why do many donors require that the principal of their contribution must be held in perpetuity, and that only the income may be used for charitable purposes? Why do most charity managers voluntarily accumulate operating surpluses, and reinvest a portion of real endowment income? This Article suggests that rather than looking at how charities use their endowment income, we should focus on what happens to the endowment principal. It appears that the taste for perpetual charitable endowments persists as the happy co-incidence of donors' desire for immortality for themselves and their …

Hocking The Halo: Implications Of The Charities' Winning Briefs In Camps Newfound/Owatonna, Inc. (Symposium), Evelyn Brody

All Faculty Scholarship

No abstract provided.

Treasury Regulations And Judicial Deference In The Post-Chevron Era, David A. Brennen

Law Faculty Scholarly Articles

Analysis of several post-Chevron cases indicates that every major Supreme Court case since 1984 involving the validity of a Treasury regulation is consistent with Chevron. Indeed, since 1984 every challenged Treasury regulation interpreting a statute in which Congress failed to address a specific tax issue has been upheld by the Court. In fact, no Supreme Court case since 1984 could be discovered in which the Court invalidated a Treasury regulation on the grounds that it was an unreasonable interpretation of a statute. Several post-Chevron Supreme

Court decisions, however, rejected the Treasury's application of a tax regulation to …

The Municipal Bond Interst Exemption: Comments On A Running Battle, Leon Gabinet

Faculty Publications

Ever since the enactment of the Revenue Act of 1913 there has been continued debate surrounding the exemption given to municipal bond interest. More recently a variety of alternatives to the interest exemption have been suggested in an effort to correct t