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2008

Taxation

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Articles 1 - 30 of 71

Full-Text Articles in Law

Allocating Business Profits For Tax Purposes: A Proposal To Adopt A Formulary Profit Split, Reuven S. Avi-Yonah, Kimberly A. Clausing, Michael C. Durst Dec 2008

Allocating Business Profits For Tax Purposes: A Proposal To Adopt A Formulary Profit Split, Reuven S. Avi-Yonah, Kimberly A. Clausing, Michael C. Durst

Law & Economics Working Papers Archive: 2003-2009

The current system of taxing the income of multinational firms in the United States is flawed across multiple dimensions. The system provides an artificial tax incentive to earn income in low-tax countries, rewards aggressive tax planning, and is not compatible with any common metrics of efficiency. The U.S. system is also notoriously complex; observers are nearly unanimous in lamenting the heavy compliance burdens and the impracticality of coherent enforcement. Further, despite a corporate tax rate one standard deviation above that of other OECD countries, the U.S. corporate tax system raises relatively little revenue, due in part to the ...


Slides: Lower Arkansas Valley Super Ditch Company, Inc.: Water Leasing Program, Peter Nichols Dec 2008

Slides: Lower Arkansas Valley Super Ditch Company, Inc.: Water Leasing Program, Peter Nichols

Evolving Regional Frameworks for Ag-to-Urban Water Transfers (December 11)

Presenter: Peter Nichols, General Counsel of the Lower Arkansas Valley “Super Ditch” Company, Trout, Raley, Montano, Witwer & Freeman PC, Colorado

33 slides


Real Estate Law, Richard W. Gregory, Lindsey Dobbs Chase Nov 2008

Real Estate Law, Richard W. Gregory, Lindsey Dobbs Chase

University of Richmond Law Review

No abstract provided.


There Is No Such Thing As Partnership Tax (Article In Progress), Richard Gershon Oct 2008

There Is No Such Thing As Partnership Tax (Article In Progress), Richard Gershon

Richard Gershon

This is a PowerPoint presentation of the article I am writing on Partnership Taxation. The primary emphasis is on tax reform and tax education.


A Response To Professor Camp: The Importance Of Oversight, Leslie Book Oct 2008

A Response To Professor Camp: The Importance Of Oversight, Leslie Book

Working Paper Series

In past writings and in an upcoming article by Professor Bryan Camp, The Problem of Adversarial Process in the Administrative State, 83 IND. L. J. ### (2008), Professor Camp criticizes the procedural protections Congress added in the tax collection process, noting the limitations of adversary proceedings in the IRS’s tax collection process. In particular, Professor Camp strongly criticizes the collection due process (CDP) rights that were part of the landmark IRS Restructuring and Reform Act of 1998. Given the size of the tax gap, and likely increasing calls for the IRS to do a better job in reducing that tax ...


Moonshine To Motorfuel: Tax Incentives For Fuel Ethanol, Roberta F. Mann, Mona L. Hymel Oct 2008

Moonshine To Motorfuel: Tax Incentives For Fuel Ethanol, Roberta F. Mann, Mona L. Hymel

Duke Environmental Law & Policy Forum

No abstract provided.


Section 162(M): Executive Compensation And The Implications Of Revenue Ruling 2008-13, Sean Donahue Sep 2008

Section 162(M): Executive Compensation And The Implications Of Revenue Ruling 2008-13, Sean Donahue

Sean Donahue

In early 2008, the Internal Revenue Service issued Private Letter Ruling 200804004 and Revenue Ruling 2008-13. This Article explores these Rulings’ impact on executive bonus plans and employment agreements. It then provides approaches companies can take to comply with the Service’s new position that the accelerated vesting of performance-based compensation upon termination without cause, termination by executive for good reason, or retirement causes the entire plan or agreement to be ineligible for the Section 162(m) performance-based exception. Lastly, it critiques the Revenue Ruling and suggests the IRS focus on the involuntariness of these events in assessing deductibility.


Corporate Philanthropy And The Market For Altruism, Todd Henderson, Anup Malani Aug 2008

Corporate Philanthropy And The Market For Altruism, Todd Henderson, Anup Malani

Todd Henderson

Academics and businesspeople have long debate the merits of corporate philanthropy. It is our contention that this debate is too narrowly focused on the role of corporations. There is a robust market for philanthropic works – which we call the market for altruism – in which non-profit organizations, the government, and for-profit corporations compete to do good works. We describe this market and the role corporations play in satisfying the demand for altruism. We conclude that corporations should only engage in philanthropy when they have a comparative advantage over non-profits and the government. Moreover, the government must avoid discriminating – particularly when setting ...


The Oecd Harmful Tax Competition Report: A 10th Anniversary Retrospective, Reuven S. Avi-Yonah Aug 2008

The Oecd Harmful Tax Competition Report: A 10th Anniversary Retrospective, Reuven S. Avi-Yonah

Law & Economics Working Papers Archive: 2003-2009

Ten years ago the OECD published its report on Harmful Tax Competition: An Emerging Global Issue. This was followed by a series of concrete measures designed to limit some forms of harmful tax competition, such as preferential regimes in OECD countries and offshore tax havens. The OECD initiative has met considerable resistance and in some ways has fallen short of its goals. Nevertheless, this paper will argue that it has been a worthwhile effort and has achieved some measure of success. The paper will then go on to outline some future directions for the project.


Behavioral Public Finance, Edward J. Mccaffery Jul 2008

Behavioral Public Finance, Edward J. Mccaffery

Edward J McCaffery

These are slides from a presentation to the Gruter Institute for Law and Behavioral Research, Squaw Valley Conference, May, 2008 (at which event Michael Jensen got me to agree to post these slides as a pdf on SSRN . . . ). The task is to give an overview of what I hope to be an emerging field of behavioral public finance. Behavioral finance, as per Barberis and Thaler 2003 (and others), consists of two parts: (1) individual level heuristics and biases, which can lead to sub-optimal (inconsistent) judgment and decision-making, and (2) institutional arbitrage mechanisms. In private finance and economics, these latter, most ...


Comments On Liebman And Zeckhauser, Simple Humans, Complex Insurance, Subtle Subsidies, Edward J. Mccaffery Jul 2008

Comments On Liebman And Zeckhauser, Simple Humans, Complex Insurance, Subtle Subsidies, Edward J. Mccaffery

Edward J McCaffery

These are brief comments on an excellent paper by Jeffrey Liebman and Richard Zeckhauser, prepared for a conference sponsored by the Urban Institute and Brookings on tax and health care policy. Liebman and Zeckhauser summarize the complexities involved in making optimal health insurance decisions, and offer generally cautionary notes about conflating these with tax law (a theme of the conference). Most importantly, Liebman and Zeckhauser suggest a positive role for employers in health care and insurance decisions, as better setters or framers of choice sets—witness 401(k) plans. In this Commentary, I applaud Leibman and Zeckhauser’s general work ...


Back To The Future? The Potential Revival Of Territoriality, Reuven S. Avi-Yonah Jul 2008

Back To The Future? The Potential Revival Of Territoriality, Reuven S. Avi-Yonah

Law & Economics Working Papers Archive: 2003-2009

Until 1993, the United States led the rest of the developed world in strengthening residence-based world-wide corporate and individual income taxation. However, since 1994 this trend seems to have been reversed, at least in part, and similar developments are taking place overseas (e.g., in France and the UK). Thus, there seems to be a trend to reduce the scope of residence jurisdiction, while increasing the emphasis on source jurisdiction. If this trend continues, it seems likely that both traditional territorial countries like France and traditional world-wide countries like to UK and the US would move toward territoriality and decrease ...


Value In The Eye Of The Beholder: The Valuation Of Intangibles For Transfer Pricing Purposes, Yariv Brauner Jul 2008

Value In The Eye Of The Beholder: The Valuation Of Intangibles For Transfer Pricing Purposes, Yariv Brauner

UF Law Faculty Publications

This article assesses the desirability of our current, arms' length based, transfer pricing regime by analyzing its theoretical and practical effectiveness in application to transfers of intangibles. A detailed analysis of the practice of valuation of intangibles, which is the key component in the application of this regime, exposes its weaknesses that result in undesirable market incentives. These incentives create a strong bias in favor of large multinational enterprises, yet, even if one favored such bias, it is achieved using an uncontrollable, costly and wasteful legal mechanism. The article particularly criticizes the regime's disregard of the unique characteristics of ...


Subjects Of Sovereignty: Indigeneity, The Revenue Rule, And Juridics Of Failed Consent, Audra Simpson Jul 2008

Subjects Of Sovereignty: Indigeneity, The Revenue Rule, And Juridics Of Failed Consent, Audra Simpson

Law and Contemporary Problems

Simpson examines the way in which indigeneity and sovereignty have been conflated with savagery, lawlessness, and smuggling in recent history. The national problem of indigenous smuggling is reconstructed here as it was portrayed in the public eye, largely via the media, and then through conflict-of-laws cases concerning the interpretation and application of the revenue rule. Simpson further discusses economic activities that express indigenous cultural and historical practice and that reflect a larger set of socio-economic conditions.


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

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

Joseph L Tobin

In September 2006, the IRS proposed new regulations for taxation of currency gains and losses for U.S. corporations' foreign branches. The IRS has announced that it would like to finalize them as soon as possible, perhaps as early as the summer of 2008. The new regulations withdraw the old section 987 regulations of 1991. The IRS believes these new regulations are necessary in order to prevent taxpayers from taking "artificial" currency losses on assets such as land and machinery -- assets which do not vary with the exchange rate, according to the IRS. The new regulations propose to stop these ...


The Degentrification Of New Markets Tax Credits, Roger M. Groves May 2008

The Degentrification Of New Markets Tax Credits, Roger M. Groves

Roger M. Groves

No abstract provided.


Business Taxes And International Competitiveness, Michael S. Knoll May 2008

Business Taxes And International Competitiveness, Michael S. Knoll

Faculty Scholarship at Penn Law

Around the world, policymakers are obsessed with the competitiveness of their domestic companies and domestically based multinational corporations (MNCs). Such concerns frequently influence policy, especially tax policy. In this paper, I develop a theory of how taxes affect the international competitiveness of businesses. I then use that theory to evaluate basic tax policy decisions, such as the choice between residence- and source-based taxation and the level of tax rates, and to understand the impact various provisions in the U.S. Internal Revenue Code are likely to have on the competitiveness of U.S.-based corporations and MNCs.


The Sugar Mill Case: Public Waste And The Public Bid Law, Louis Ducote May 2008

The Sugar Mill Case: Public Waste And The Public Bid Law, Louis Ducote

Louisiana Law Review

No abstract provided.


The Proliferation Of Global Reits And The Cross-Borderization Of The Asian Market, Julius L. Sokol May 2008

The Proliferation Of Global Reits And The Cross-Borderization Of The Asian Market, Julius L. Sokol

San Diego International Law Journal

After a brief discussion on the history of REITs, this Article goes on to analyze their importance and role within the global and Asian economy. Next, the underlying motivations for legal amendments to the REIT structures are discussed, as well as the socio-economic benefits associated with coordinating liberal REIT legislation throughout Asia. Subsequently, this article analyzes the various regulatory aspects of the regimes in Japan, Singapore, Hong Kong, South Korea, Thailand and Malaysia. In exploring their shortcomings, comparisons are made to the highly successful United States REIT structure. Given the history of our nation's regime, it goes without saying ...


International And Ec Tax Aspects Of Groups Of Companies (Canada), Kim Brooks May 2008

International And Ec Tax Aspects Of Groups Of Companies (Canada), Kim Brooks

Articles, Book Chapters, & Popular Press

This short, largely descriptive piece reviews some of the history and reasons as to why the consolidation of corporate groups has not been adopted in the Canadian income tax legislation. Canada is unique becuase it is one of a very limited number of high-income countries with no formal consolidate regime. After a brief review of the history of consolidated reporting in Canada, the piece describes some of the instances where a mutuality of interest between corporations is recognized, the objectives of recognizing a group of corporations in these instances, and the measures of relatedness used to group corporations. Measures that ...


Einstein's Theory Of Taxation, William A. Drennan Apr 2008

Einstein's Theory Of Taxation, William A. Drennan

William A Drennan

Albert Einstein said "the hardest thing in the world to understand is the income tax." The new nonqualified deferred compensation rules are a testament to Einstein's brilliance. The new rules will fail to achieve their statutory purpose, will create traps for the unwary, and should be repealed retroactively.


What's At Stake In The Sovereignty Debate?: International Tax And The Nation-State, Diane M. Ring Apr 2008

What's At Stake In The Sovereignty Debate?: International Tax And The Nation-State, Diane M. Ring

Boston College Law School Faculty Papers

The international tax problems of today are typically beyond the scope of a single nation to solve. However, the prospect of multinational problem solving, often under the auspices of an international organization, unleashes objections grounded in sovereignty. Despite widespread reliance on sovereignty arguments, little attention has been directed at what precisely is meant by sovereignty and what place it has in international tax policy. This article contends that a loss of sovereignty undermines both significant functional roles played by a nation-state (revenue and fiscal policy) and important normative governance values (accountability and democratic legitimacy). Whether these limitations are severe enough ...


Foreign Tax Credit Arbitrage, Eric Silver Apr 2008

Foreign Tax Credit Arbitrage, Eric Silver

eric silver

Within the sophisticated world of international finance, there exists an inherent tension in characterizing particular tax strategies as either savvy investments or imprudent tax avoidance. At the center of this struggle are the proposed amendments to regulation section 901 of the Internal Revenue Code. Both the Internal Revenue Service (the IRS) and the Treasury Department claim that the proposed regulations will guide tax strategists in determining the appropriate amount of domestic and foreign taxes paid and the claiming of foreign tax credits. More specifically, the updates to the legislation concern transactions involving U.S.-owned foreign entities and certain structured ...


The Pirates Will Party On! The Nonqualified Deferred Compensation Rules Will Not Prevent Ceos From Acting Like Plundering Pirates And Should Be Scuttled, William A. Drennan Apr 2008

The Pirates Will Party On! The Nonqualified Deferred Compensation Rules Will Not Prevent Ceos From Acting Like Plundering Pirates And Should Be Scuttled, William A. Drennan

William A Drennan

The government went off course when it attempted to stop outrageous CEO compensation schemes with new income tax rules on nonqualfied deferred compensation. IRC Section 409A should be scuttled.


The Reform Of Corporate Taxation In The European Union, Nina Winkler Apr 2008

The Reform Of Corporate Taxation In The European Union, Nina Winkler

Cornell Law School Inter-University Graduate Student Conference Papers

The Commission of the European Communities is currently drafting a proposal for an EU Directive to implement the first comprehensive corporate tax strategy for the Internal Market. The adoption of a common consolidated corporate tax base for EU multinational enterprises is one of today’s most highly debated issues on Brussels’ political agenda. Since the reform would affect all international companies conducting business in the Internal Market, it should also be of great interest for non-EU corporate and tax law scholars and lawyers. The paper critically evaluates the key advantages and disadvantages of the concept of an EU consolidated tax ...


Money For Nothing And The Stocks For Free: Taxing Executive Compensation, Meredith R. Conway Apr 2008

Money For Nothing And The Stocks For Free: Taxing Executive Compensation, Meredith R. Conway

Cornell Journal of Law and Public Policy

No abstract provided.


Of State Laboratories And Legislative Alloys: How "Fair Share" Laws Can Be Written To Avoid Erisa Preemption And Influence Private Sector Health Care Reform In America, Darren Abernethy Apr 2008

Of State Laboratories And Legislative Alloys: How "Fair Share" Laws Can Be Written To Avoid Erisa Preemption And Influence Private Sector Health Care Reform In America, Darren Abernethy

William & Mary Law Review

No abstract provided.


Acquiring Innovation, Xuan-Thao Nguyen, Jeffrey A. Maine Apr 2008

Acquiring Innovation, Xuan-Thao Nguyen, Jeffrey A. Maine

Faculty Publications

This article explores whether exceptions from Asset-capitalization and rational tax depreciation rates are justified to reflect the realities of today's segmentation of the innovation market. The authors argue that the federal tax subsidy for innovation should not be limited to initial research, but should be expanded to cover desirable acquisitions in order to achieve optimal innovation outcomes and enhanced economic growth.


Be Cool! Staying Open Minded About Climate Policy Development, Scott H. Segal Apr 2008

Be Cool! Staying Open Minded About Climate Policy Development, Scott H. Segal

Duke Environmental Law & Policy Forum

No abstract provided.


Tax Incentives And The War On Drugs, Thomas J. Berger Mar 2008

Tax Incentives And The War On Drugs, Thomas J. Berger

Thomas J Berger

Tax incentives and the war on drugs. This article analyzes the idea of employing tax incentives to reduce the demand for illegal drugs. The article includes a theoretical analysis of the novel idea through a traditional and behavioral economic analysis. Also included are practical recommendations for policy-makers interested in implementing the concept.