Open Access. Powered by Scholars. Published by Universities.®

Law Commons

Open Access. Powered by Scholars. Published by Universities.®

Articles 1 - 11 of 11

Full-Text Articles in Law

Going From The Frying Pan Into The Fire? A Critique Of The U.S. Treasury's Newly Proposed Section 987 Currency Regulations, Joseph Tobin Oct 2008

Going From The Frying Pan Into The Fire? A Critique Of The U.S. Treasury's Newly Proposed Section 987 Currency Regulations, Joseph Tobin

University of Miami Business Law Review

No abstract provided.


Who's At Risk? Abbott And Costello Take On Section 465, Ajay Gupta Oct 2008

Who's At Risk? Abbott And Costello Take On Section 465, Ajay Gupta

University of Miami Business Law Review

No abstract provided.


Federal Tax Consequences Of Virtual World Transactions, G. Martin Bingisser Oct 2008

Federal Tax Consequences Of Virtual World Transactions, G. Martin Bingisser

Washington Journal of Law, Technology & Arts

This article discusses the tax consequences of transactions involving Massive Multiplayer Online Role Playing Games (“MMORPGs”). MMORPGs have recently grown in popularity and developed significant economic activity. Virtual goods used in these games are traded for both real and virtual currency. While few dispute that a sale of virtual goods for real currency is a taxable event, more complex tax issues arise concerning transactions that occur solely within virtual worlds. This article analyzes the tax consequences and policy issues surrounding such transactions.


The Taxation Of Private Equity Carried Interests: Estimating The Revenue Effects Of Taxing Profit Interests As Ordinary Income, Michael S. Knoll Oct 2008

The Taxation Of Private Equity Carried Interests: Estimating The Revenue Effects Of Taxing Profit Interests As Ordinary Income, Michael S. Knoll

William & Mary Law Review

In this Article, I estimate the tax revenue effects of taxing private equity carried interests as ordinary income rather than as long-term capital gain as under current law. Under reasonable assumptions, I conclude that the expected present value of additional tax collections would be between 1 percent and 1.5 percent of capital invested in private equity funds, or between $2 billion and $3 billion a year. That estimate, however, makes no allowance for changes in the structure of such funds or the composition of the partnerships, which might substantially reduce tax revenues below those estimates.


The Unintended Tax Advantages Of Gay Marriage, Theodore P. Seto Sep 2008

The Unintended Tax Advantages Of Gay Marriage, Theodore P. Seto

Washington and Lee Law Review

The Internal Revenue Code (the Code) contains numerous special rules applicable to the income taxation of persons related by marriage, birth, adoption, or ownership. This Article suggests a new approach to their analysis. Many basic tax rules assume that taxpayers are self-interested and unaffiliated. Where this assumption is incorrect, the Code makes adjustments to its otherwise applicable rules. Most of the resulting related-party antiavoidance rules apply only in the context of specified formal relationships-marriage, parent/child, or owner/business. The Article tests this thesis by comparing the income tax treatment of heterosexual married couples with that of gay couples in ...


Federal Taxation, Michael H. Plowgian, Svetoslav S. Minkov, Mark S. Davis Jul 2008

Federal Taxation, Michael H. Plowgian, Svetoslav S. Minkov, Mark S. Davis

Mercer Law Review

The courts in the Eleventh Circuit heard a number of relatively prominent tax related cases in 2007. In United States v. Mount Sinai Medical Center of Florida, Inc., the Eleventh Circuit held that medical residents are potentially eligible for the student exemption from social security taxes, with their eligibility being determined on a case-by-case basis. In Estate of Jelke v. Commissioner, the Eleventh Circuit vacated the United States Tax Court's valuation methodology in computing, for estate tax purposes, the net asset value of a holding company in which the decedent held a minority interest. The Eleventh Circuit held that ...


Democracy And Opportunity: A New Paradigm In Tax Equity, James R. Repetti May 2008

Democracy And Opportunity: A New Paradigm In Tax Equity, James R. Repetti

Vanderbilt Law Review

Academics and policymakers pay little attention to the interaction of a tax system with the objectives of a just government. For example, in the debate about whether the United States should retain an income tax or adopt a consumption tax, most discussions focus on the relative efficiency and equity of the taxes. Proponents of a consumption tax worry that an income tax is inefficient because it burdens investment income. Advocates of an income tax fear that a consumption tax is not equitable because low-income taxpayers consume a greater percentage of their income than wealthy taxpayers. These concerns date at least ...


The Incomplete Global Market For Tax Information, Steven A. Dean May 2008

The Incomplete Global Market For Tax Information, Steven A. Dean

Boston College Law Review

The United States finds itself facing a growing disparity between the tax information it collects domestically and the tax information it is able to acquire from abroad. At the same time, globalization and technology have made it easier for taxpayers to ignore national borders and have therefore made the ability to acquire useful extraterritorial tax information more important than ever. To make the income tax effective in today's borderless economy, the United States must abandon the antiquated notion of information exchange. Creating a more complete market— one more likely to facilitate efficient transactions than today's barter market in ...


Corporate Taxation And International Charter Competition, Mitchell A. Kane, Edward B. Rock May 2008

Corporate Taxation And International Charter Competition, Mitchell A. Kane, Edward B. Rock

Michigan Law Review

Corporate charter competition has become an increasingly international phenomenon. The thesis of this Article is that this development in corporate law requires a greater focus on corporate tax law. We first demonstrate how a tax system's capacity to distort the international charter market depends both upon its approach to determining corporate location and upon the extent to which it taxes foreign source corporate profits. We also show, however, that it is not possible to remove all distortions through modifications to the tax system alone. We present instead two alternative methods for preserving an international charter market. The first-best solution ...


Federal Fairness To State Taxpayers: Irrationality, Unfunded Mandates, And The "Salt" Deduction, Brian Galle Mar 2008

Federal Fairness To State Taxpayers: Irrationality, Unfunded Mandates, And The "Salt" Deduction, Brian Galle

Michigan Law Review

By sheer dollars alone, the largest impact of the Alternative Minimum Tax is to deny many taxpayers the deduction for the taxes they paid to their state and local governments under § 164 of the Internal Revenue Code. This Article provides a fine-grained analysis of the overall fairness of the state-andlocal- tax deduction--and, by implication, the fairness of its partial repeal through the Alternative Minimum Tax. I offer for the first time a close examination of how newly understood limits on taxpayer mobility and rationality might affect individuals' choices of bundles of local taxes and localgovernment services, which in turn informs ...


Advocacy Groups Plead With Congress To Reauthorize The Secure Rural Schools And Community Self-Determination Act, Nigel D. Graham Jan 2008

Advocacy Groups Plead With Congress To Reauthorize The Secure Rural Schools And Community Self-Determination Act, Nigel D. Graham

Public Interest Law Reporter

No abstract provided.