Tax Law Commons^™

State And Local Taxation: When Will Congress Intervene?, Kathryn L. Moore

Law Faculty Scholarly Articles

This article examines congressional activity in the state and local tax area to determine when, if ever, Congress will enact legislation mandating uniformity in state and local taxation. The article begins by briefly describing our current system of state and local taxation and explaining why we need more uniformity therein.

The article then provides an empirical study of congressional activity in the state and local tax area between January, 1971 and May, 1996. Specifically, it focuses first on four discrete but representative areas in which Congress has enacted legislation regulating state and local taxation, and, second, on four discrete but …

Getting Physical: Excluding Injury Awards Under The New Section 104(A)(2), J. Martin Burke, Michael K. Friel

UF Law Faculty Publications

This article analyzes the 1996 amendments to section 104(a)(2) of the Internal Revenue Code. The authors argue that while section 104(a)(2) was in need of remedy, the remedy chosen is both insupportable from the standpoint of tax policy and problematic in terms of administrability. Part II of the article traces the recent history of the statute’s judicial construction. Part III discusses the provisions of the 1996 amendments. Part IV demonstrates the impact of the 1996 amendments on dignitary torts and highlights policy and interpretational problems associated with the amended provision. The article concludes with a proposal for a better remedy.

National Bankruptcy Review Commission Tax Recommendations: Individual Debtors, Discharge, And Priority Of Claims, Jack F. Williams

Faculty Publications By Year

No abstract provided.

Introduction To This Symposium And A Guide To Issues In Mergers And Acquisitions, Samuel C. Thompson Jr.

Faculty Scholarship

No abstract provided.

New York Lifts Death Tax Penalty, Nancy O'Hagan

Fordham Urban Law Journal

New York State replaced its estate tax and repealed its gift tax. This Article will trace the history of the New York State gift and estate taxes, explain the burden they imposed upon New York State residents in relation to other states, and examine the recent legislation in New York State which will gradually eliminate such inequities.

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

Faculty Publications

No abstract provided.

International Taxation Of Electronic Commerce, Reuven S. Avi-Yonah

Articles

This article submits proposals for taxing the digital economy on the basis of the benefits and single tax principles.

Dealing With The Differences In Compensating Corporate Executives And Llc Members, Samuel P. Starr, Joseph Walshe, Jay M. Lyman Payne

William & Mary Annual Tax Conference

No abstract provided.

Welfare Reform, Work-Related Child Care, And Tax Policy: The "Family Values" Double Standard, Mary L. Heen

Richmond Public Interest Law Review

The welfare reform legislation signed into law last year repeals the entitlement to welfare and imposes strict time limits on the receipt of benefits. Although federal work requirements have been in effect for nearly thirty years, the new law requires the states to meet more stringent work participation levels and makes the work requirements applicable to mothers with younger children.The shift in the welfare paradigm toward mandatory wage work for mothers with young children has not been accompanied, however, by a corresponding policy shift toward universal or affordable child care.

The Earned Income Tax Credit And Welfare Reform, James Williams

Richmond Public Interest Law Review

The focus of this paper is the EITC and its important role in welfare reform. The current welfare system has been criticized on the grounds that it does not promote and encourage work. Critics also claim that welfare welfare is ineffective in reducing poverty, especially among children. The EITC addresses several of these complaints. First, the EITC "[i]s strongly pro-work. Only working families qualify for it. In addition, unlike welfare benefits, EITC payments rise rather than fall with earnings across that critical low-income range where we want to encourage work effort." Proponents of the EITC, such as Senator Bill Bradley …

What Have You Done For Me Lately? Constitutional Limitations On State Taxation Of Trusts, Bradley E.S. Fogel

All Faculty Scholarship

Suppose a resident of New Jersey creates an irrevocable inter vivos trust.' The settlor subsequently dies while a resident of New Jersey. Pursuant to the terms of her will, which is probated in New Jersey, her entire estate is paid to the trust. After a few years, one of the two trustees is a New York resident, the other is a resident of Connecticut. The trust's assets, intangibles such as stock in Delaware corporations, are held by the New York trustee in New York. All of the income beneficiaries of the trust reside in New York or Connecticut.2

Question: To …

Review Of Company Tax Systems, Reuven S. Avi-Yonah

Reviews

Comparative taxation is a fascinating and frustrating subject. It is fascinating because, through the lens of tax law, one can observe how countries with very different historical and cultural traditions have grappled with similar problems and have reached solutions that have both common and disparate elements. For example, countries that start off with a schedular system for taxing different categories of income end up with near global coverage (e.g., through a "miscellaneous" schedule), and countries that adopt a global system introduce schedular elements (such as the U.S. treatment of capital gains and losses). Another example is the convergence between countries …

Tax Exemption Issues Facing Academic Health Centers In The Managed Care Environment, Darryll K. Jones

Journal Publications

A variation on an old adage states, "things aren't like they used to be and never were." The applicability of tax law to higher education is a subject to which the modified adage is apt. If there was ever a time when tax law was generally inapplicable to higher education, when higher education administrators and counsel could ignore the maddening and glorious detail of tax law, it is certainly not now and one would be hard pressed to prove that such a time ever existed. Indeed, many of modem tax law's prohibitions and allowances were motivated by or refined as …

Welfare Reform, Work-Related Child Care, And Tax Policy: The "Family Values" Double Standard, Mary L. Heen

Richmond Journal of Law and the Public Interest

The welfare reform legislation signed into law last year repeals the entitlement to welfare and imposes strict time limits on the receipt of benefits. Although federal work requirements have been in effect for nearly thirty years, the new law requires the states to meet more stringent work participation levels and makes the work requirements applicable to mothers with younger children.The shift in the welfare paradigm toward mandatory wage work for mothers with young children has not been accompanied, however, by a corresponding policy shift toward universal or affordable child care.

The Earned Income Tax Credit And Welfare Reform, James Williams

Richmond Journal of Law and the Public Interest

The focus of this paper is the EITC and its important role in welfare reform. The current welfare system has been criticized on the grounds that it does not promote and encourage work. Critics also claim that welfare welfare is ineffective in reducing poverty, especially among children. The EITC addresses several of these complaints. First, the EITC "[i]s strongly pro-work. Only working families qualify for it. In addition, unlike welfare benefits, EITC payments rise rather than fall with earnings across that critical low-income range where we want to encourage work effort." Proponents of the EITC, such as Senator Bill Bradley …

Creating Complex Monsters: Joint Operating Agreements And The Logical Invalidity Of Treasury Regulation 1.502-1(B), Darryll K. Jones

Journal Publications

This article questions the validity of Regulations section 1.502-1(b) and its resulting insistence upon virtual mergers. It argues that the regulation is invalid as having no basis in section 502, the statute under which it was codified. This article argues, instead, that the regulation is a logically incorrect amalgamation of two distinct judicial tax doctrines by which tax exemption may be or could have been gained vicariously: (1) the integral part doctrine which allows one organization to achieve tax exemption on the basis of another organization's charitable activities, and (2) the now-discarded destination of income doctrine under which tax exemption …

The Unsolved Problem Of The Unfunded Mandate, Edward A. Zelinsky

Articles

No abstract provided.

Withholding Tax On Phantom Gain, Alan Appel, Michael Hirschfield

Articles & Chapters

No abstract provided.

The United States' Response To Tax Havens: The Foreign Base Company Services Income Of Controlled Foreign Corporations, Eric T. Laity

Northwestern Journal of International Law & Business

This article is a detailed study of the taxation by the United States of foreign base company services income. Foreign base company services in- come is defined generally as the income derived by a controlled foreign corporation from the performance of services for a related person.2 Con- trolled foreign corporations, in turn, generally are the foreign subsidiaries of U.S. parent corporations.3 A controlled foreign corporation's foreign base company services income is taxed to its U.S. parent corporation, subject to various exclusions and qualifications. This article defines the class of sus- pect relationships between the controlled foreign corporation and its related …

A Comparative Proposal To Reform The United States Gift Tax Annual Exclusion, Jeffrey S. Kinsler

Vanderbilt Journal of Transnational Law

The U.S. tax system receives much criticism. Recurrent themes in criticizing tax laws concern their complexity and the many loopholes relieving the wealthy from large amounts of taxation. This Article demonstrates how very wealthy U.S. taxpayers often do not pay gift and estate taxes. In fact the tax laws do not require these taxes to be paid. The Internal Revenue Code provides mechanisms through which taxpayers can evade estate and gift taxes in the United States. Furthermore, U.S. gift tax laws are extremely generous to taxpayers relative to tax laws of other industrialized countries. This Article analyzes the U.S. gift …

Getting Physical: Excluding Injury Awards Under The New Section 104(A)(2), J. Martin Burke, Michael K. Friel

Faculty Law Review Articles

This article analyzes the 1996 amendments to section 104(a)(2) of the Internal Revenue Code. The authors argue that while section 104(a)(2) was in need of remedy, the remedy chosen is both insupportable from the standpoint of tax policy and problematic in terms of administrability. Part II of the article traces the recent history of the statute’s judicial construction. Part III discusses the provisions of the 1996 amendments. Part IV demonstrates the impact of the 1996 amendments on dignitary torts and highlights policy and interpretational problems associated with the amended provision. The article concludes with a proposal for a better remedy.

Heavy Duty Ii: Forming A Business Entity In The United States, Aleta Estreicher, Warren Green

Articles & Chapters

No abstract provided.

Tax Court Ends The ‘Cascading Royalty’ Problem, Alan Appel

Articles & Chapters

No abstract provided.

Square Wheels: U.S. Pass-Through Taxation Of Privately Held Enterprises In A Comparative Law Context, Ann F. Thomas

Articles & Chapters

No abstract provided.

Minority Discounts, Fair Market Value, And The Culture Of Estate Taxation, William S. Blatt

Articles

No abstract provided.

International Aspects Of Fundamental Tax Reconstructing: Practice Or Principle, Michael J. Graetz

Faculty Scholarship

The globalization of economic activity, including the expansion of international trade, the amazing ability of international capital markets to transfer capital rapidly across borders, and the movement in Europe toward greater economic unification, have made it more difficult for nations independently to fashion tax laws that properly balance their own equity, economic efficiency and simplicity goals. This is what makes this conference to analyze the international aspects of recent proposals to replace the federal income tax with some form of consumption tax, with particular emphasis on the Nunn-Domenici "USA" tax and the Armey-Shelby flat tax ("flat tax"), so important. As …

Apportioning Basis: Partial Sales, Bargain Sales And The Realization Principle, Stephen B. Cohen

Georgetown Law Faculty Publications and Other Works

The Internal Revenue Code generally taxes appreciation in the value of property only on realization, defined to mean when property is sold or exchanged. In measuring gain on a sale or exchange, an allowance must be made for the return of capital, referred to as basis. Basis offsets the amount realized-that is, the price received for property-in order to calculate taxable gain.

Changing U.S. Tax Jurisdiction: Expatriates, Immigrants, And The Need For A Coherent Tax Policy, Jeffrey M. Colon

Faculty Scholarship

One of the most contentious tax legislative battles of the 104th Congress erupted over the Clinton administration's proposal to amend the U.S. tax rules applicable to expatriates. The administration proposed taxing the abandonment of either U.S. citizenship or long-term U.S. tax residency. The administration's proposal responded to a number of articles in the popular press that described the U.S. tax benefits of expatriation and divulged the names of well-heeled expatriates. Proponents claimed that Congress needed to revise the taxation of expatriates to prevent "billionaire Benedict Arnolds" from avoiding "their fair share" of U.S. income taxes. Opponents argued that the Clinton …

What's In A Name: An Argument For A Small Business Limited Liability Entity Statute (With Three Subsets Of Default Rules), Dale A. Oesterle, Wayne M. Gazur

Publications

The recent proliferation of small business entity forms is primarily a result of their tax characterization. With the recent adoption of the IRS "check-the-box" regulations and, as a consequence, the elimination of traditional tax distinctions, many of these forms have lost their appeal. This article proposes starting over with one form, the "limited liability entity." Part I discusses the history of small business forms. Part II analyzes the current forms in light of the recent check-the- box legislation. Part III discusses the necessity of and rationale behind a unified entity statute. Finally, Part IV outlines a unified limited liability entity …