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

Taxation-Federal Commons™

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

Business Organizations Law

Institution
Keyword
Publication Year
Publication
Publication Type

Articles 511 - 540 of 560

Full-Text Articles in Taxation-Federal

Section 357(C): Some Observations On Tax Effects To The Cash Basis Transferor, Louis A. Del Cotto Oct 1974

Section 357(C): Some Observations On Tax Effects To The Cash Basis Transferor, Louis A. Del Cotto

Buffalo Law Review

No abstract provided.

Go to article

Constructive Cash Distributions In A Partnership: How And When They Occur, Robert S. Parker Jr., John W. Lee Aug 1974

Constructive Cash Distributions In A Partnership: How And When They Occur, Robert S. Parker Jr., John W. Lee

Faculty Publications

Constructive cash distributions to partners with possible concomitant severe tax impact can occur whenever a partners share of firm or individual liabilities is cut. This reduction of liabilities can be triggered by a variety of typical partnership transactions. Messrs. Parker arid Lee analyze those transactions under which there is the danger of unforeseen taxation and urge extreme caution.

Go to article

Basic Corporate Taxation, Stefan F. Tucker May 1974

Basic Corporate Taxation, Stefan F. Tucker

Michigan Law Review

A Review of Basic Corporate Taxation, 2d Ed. by Douglas A. Kahn

Go to article

Retroactive Allocations To New Partners: An Analysis Of The Area After Rodman, John W. Lee, Robert S. Parker Jr. Mar 1974

Retroactive Allocations To New Partners: An Analysis Of The Area After Rodman, John W. Lee, Robert S. Parker Jr.

Faculty Publications

In the recent Rodman case, the Tax Court has held that a partner newly admitted near year-end must report his share of the full year's partnership profits. Messrs. Lee and Parker analyze the status of retroactive partnership allocations in view of Rodman, the first decision to expressly sanction retroactive allocations of income (and implicitly of losses) to new partners, and reallocations under Section 704.

Go to article

Deferred Compensation Arrangements Under Section 83 Of The Internal Revenue Code: Is Restricted Property Still A Viable Means Of Compensation?, Michigan Law Review May 1972

Deferred Compensation Arrangements Under Section 83 Of The Internal Revenue Code: Is Restricted Property Still A Viable Means Of Compensation?, Michigan Law Review

Michigan Law Review

When faced with the problem of compensating key executives, employers have tended to avoid the exclusive use of current cash compensation, since this would result in an immediate and substantial income tax to highly paid employees. Deferred compensation plans have been utilized in order to maximize tax benefits for employees, such as deferred recognition of income and capital gains treatment. Although such plans are structured to meet the needs of the particular employer and employee, several forms of deferred compensation are common. Among these are qualified and unqualified pension, profit-sharing, and stock bonus plans; qualified, restricted, and employee stock purchase …

Go to article

Kahn: Basic Corporate Taxation, John C. Chommie Jan 1971

Kahn: Basic Corporate Taxation, John C. Chommie

Michigan Law Review

A Review of Basic Corporate Taxation by Douglas A. Kahn

Go to article

Federal Taxation And Non-Profit Organizations, Marcus Schoenfeld Jan 1970

Federal Taxation And Non-Profit Organizations, Marcus Schoenfeld

Cleveland State Law Review

The Revenue Act of 1969 is one of the greatest overall changes in the revenue laws since the introduction of the federal income tax . Perhaps the most extensive changes were made in the area of tax-exempt organizations. Only some of these changes were within of the topic of this presentation, and some of the other changes in the "charitable" area merit great discussion-for example charitable remainder trusts. Even the topics discussed herein, of necessity were discussed briefly due to lack of time and Regulations. The full the 1969 Act on non-profit organizations will not be apparent for quite some …

Go to article

The Not-For-Profit Business Corporation, James K. Weeks Jan 1970

The Not-For-Profit Business Corporation, James K. Weeks

Cleveland State Law Review

The Non-Profit Corporation is usually regarded traditionally from a lay and legal viewpoint as one being engaged in charitable, educational, scientific or social work or a religious endeavor. On the other hand, the Not-for-Profit Corporation is more often engaged in enterprises usually associated with functions of a business corporation. However, as soon as one begins to view these corporations from a definitional standpoint, one is bogged down in an incredibly complicated procedure which does little to clarify the confusion.

Go to article

Recent Legislation Jan 1970

Recent Legislation

University of Richmond Law Review

This is a list of the recent legislation from 1970.

Go to article

Excessive Salaries In A Closely Held Corporation, Donald J. Zinner Jan 1969

Excessive Salaries In A Closely Held Corporation, Donald J. Zinner

Cleveland State Law Review

Excessive salaries paid by a closely held corporation create a constant debate between the "owners" of the entity and the Internal Revenue Service, and with other corporation members. The basic law as to the tax aspects underlying the controversy, in the Internal Revenue Code of 1954, is substantially as follows: The compensation claimed as a deduction must be reasonable in amount, and must be paid purely for services. Distributions of profits under the guise of salaries are not deductible. This crucial issue leads to the question: What does the word reasonable salary mean in the framework of a closely held …

Go to article

Income Tax: Corporations--Incorporated Professional Service Organization Taxable As A Corporation; Kintner Regulations Held Invalid--Empey V. United States, Michigan Law Review Feb 1968

Income Tax: Corporations--Incorporated Professional Service Organization Taxable As A Corporation; Kintner Regulations Held Invalid--Empey V. United States, Michigan Law Review

Michigan Law Review

Lawrence G. Empey, a lawyer, was employed by the Drexler and Wald Professional Company, an association of attorneys that had incorporated in 1961 pursuant to the Colorado Corporation Code and rule 265 of the Colorado Rules of Civil Procedure. Empey began his employment with Drexler and Wald in March 1965, and in November of the same year he acquired ten shares (ten per cent) of the outstanding capital stock of the corporation. On his 1965 federal income tax return, he reported income consisting of his salary as an employee of the company for ten months and ten per cent of …

Go to article

Unreasonable Accumulation Of Income By Foundations, Joel H. Feld Jan 1967

Unreasonable Accumulation Of Income By Foundations, Joel H. Feld

Cleveland State Law Review

Unreasonable accumulation of income was and still is one of the the common abuses found in some foundations. Prior to 1950 the Internal Revenue Service challenged foundation exemption by stating that unreasonable accumulations of income were evidence that the foundation was not organized for, or carrying out, a charitable purpose. The courts were reluctant to follow this theory, and gave the law a liberal interpretation in favor of the foundations. It was not until 1950 that Congress enacted Section 3814 of the Internal Revenue Code of 1939. The law is the same today in the Internal Revenue Code of 1954, …

Go to article

The Bootstrap Loophole: Can It Be Closed, Frank C. Fogl Jr. Jan 1967

The Bootstrap Loophole: Can It Be Closed, Frank C. Fogl Jr.

Cleveland State Law Review

The puropse of this paper is to review the history and background of bootstrap transactions and to determine: (1) Whether there is a need to close the bootstrap loophole; (2) If so, why this loophole has not been closed in the past; (3) Whether the Internal Revenue Code as it now exists contains provisions, if used, that can close this loophole; (4) If new legislation would be required to reach this end. A few key cases will be reviewed and analyzed, with major emphasis placed on the recent Clay Brown' decision, to show the attitude toward bootstrap transactions of both …

Go to article

Taxation Of Foreign Incorporated Pocketbooks With Nonresident Alien Shareholders, William D. Popkin Jan 1966

Taxation Of Foreign Incorporated Pocketbooks With Nonresident Alien Shareholders, William D. Popkin

Articles by Maurer Faculty

No abstract provided.

Go to article

The Definition Of "Domestic Building And Loan Association"--Final Tax Regulations, Paul E. Goodspeed Apr 1965

The Definition Of "Domestic Building And Loan Association"--Final Tax Regulations, Paul E. Goodspeed

Michigan Law Review

It will be the purpose of this discussion to examine the newly adopted regulations and to evaluate their effects in the light of congressional intent regarding the statutory definition. Special emphasis will be placed on the quantitative tests established in the regulations, with respect to which two changes will be proposed.

Go to article

Initial Impressions Of The Treasury Report On Foundations, Marcus Schoenfeld Jan 1965

Initial Impressions Of The Treasury Report On Foundations, Marcus Schoenfeld

Cleveland State Law Review

Very recently in the United States Treasury Department submitted its study of private foundations to Congress. This is the most recent development in an attempt to delineate the proper role of foundations and their donors in our society, and more particularly their proper tax treatment. Although it is much too soon to predict the effect of the Treasury Report, since Congress itself asked for the study, it is quite likely that some more restrictive legislation will result.

Go to article

Some Problems In Liquidating Personal Holding Companies, Elliott H. Kajan, Martin C. Spector Jan 1965

Some Problems In Liquidating Personal Holding Companies, Elliott H. Kajan, Martin C. Spector

Cleveland State Law Review

Ordinarily, distributions by a personal holding company qualify for the dividends paid deduction only if they are "dividends" under section 316. However, certain distributions in liquidation may also qualify. These liquidating distributions of a personal holding company are divided into two categories: (1) Distributions to the extent of earnings and profits for the taxable year (computed without regard to capital losses) made in complete liquidation of the corporation occurring within 24 months after the adoption of the plan of liquidation; and (2) distributions in liquidation properly chargeable to earnings and profits accumulated after February 28, 1913.

Go to article

Personal Holding Companies And The Revenue Act Of 1964, Jerome B. Libin Jan 1965

Personal Holding Companies And The Revenue Act Of 1964, Jerome B. Libin

Michigan Law Review

By 1964, many years had elapsed since significant changes were made in the federal income tax treatment of so-called "personal holding companies." For that reason alone, any amendments contained in the Revenue Act of 1964 that dealt with personal holding companies would have deserved attention. But the fact is that the changes made by the 1964 Act are so powerful in their thrust that they require the most careful kind of study by every practitioner charged with advising closely held corporations. Since the new provisions are rather complicated in nature, such a study cannot lead to a full understanding of …

Go to article

Federal Income Tax-Definition Of Collapsible Corporation, John E. Mogk Mar 1964

Federal Income Tax-Definition Of Collapsible Corporation, John E. Mogk

Michigan Law Review

In 1948 petitioner and several other taxpayers, who had previously been active in constructing homes, formed two corporations to build apartment houses. As a result of decreases in the price of building materials and savings on labor and architectural costs, each corporation was left, after completion of construction, with borrowed funds which exceeded costs of construction. In the year following completion of construction the taxpayers distributed the excess borrowed funds of the two corporations and then sold their stock in each at a substantial profit. Petitioner reported, his receipts from the distribution of the loan funds and the profit on …

Go to article

Tax Exempt Organizations, Edward A. Lebit Jan 1964

Tax Exempt Organizations, Edward A. Lebit

Cleveland State Law Review

Although tax exempt organizations are creatures of the state ,it is under the federal law that they seek exemption from tax. Many unqualified organizations have sought and received this exemption. Many abuses and schemes have arisen, in which even qualified organizations have been made parties. The big question is whether the exemption laws are not clear enough or whether they have been lackadaisically enforced. It is this writer's opinion that the law is adequate, and that strict enforcement of the law is all that is necessary to clear up the tax abuses by non-profit organizations which have taken place since …

Go to article

Taxation-Federal Income Taxation-The Three-Party Sale And Lease-Back, Lawrence R. Velvel S.Ed. Apr 1963

Taxation-Federal Income Taxation-The Three-Party Sale And Lease-Back, Lawrence R. Velvel S.Ed.

Michigan Law Review

The so-called sale and lease-back device has long been the subject of judicial and governmental scrutiny. The Internal Revenue Service has recently decided to begin a more active campaign of enforcement against a certain three-party variation of the sale and lease-back device. The structure of this variation can be best understood by considering the following hypothetical situation.

Go to article

Taxation-Federal Income Tax-Worthless Debt Of Corporation Deductible Only As A Nonbusiness Bad Debt By Creditor-Partnership, Larry W. Waggoner Jun 1962

Taxation-Federal Income Tax-Worthless Debt Of Corporation Deductible Only As A Nonbusiness Bad Debt By Creditor-Partnership, Larry W. Waggoner

Michigan Law Review

A partnership formed for the purpose of holding and renting real estate and "such other business and enterprises" as might be agreed upon by the partners loaned 120,000 dollars to a corporation which manufactured liquid hair spray for women. This was the only loan the partnership had made. The controlling shareholder in the debtor-corporation was another corporation of which every shareholder was either a parent or grandparent of the partners. The debtor-corporation was to repay the loan in monthly installments of 3,000 dollars plus interest at the rate of twelve percent on the unpaid balance. When the debt became worthless, …

Go to article

Taxation-Federal Income Tax-Liquidation Distributions Entitled To Both Capital Gains Treatment And Foreign Tax Credit, Lloyd C. Fell Jun 1962

Taxation-Federal Income Tax-Liquidation Distributions Entitled To Both Capital Gains Treatment And Foreign Tax Credit, Lloyd C. Fell

Michigan Law Review

Plaintiff, Associated, is an American corporation whose wholly-owned subsidiary, Automatic, owned all the stock of Filcrest, a Canadian corporation. In 1954 all the assets of Filcrest were distributed to Automatic pursuant to a plan of complete liquidation, accomplished in accordance with Canadian law. In its 1954 consolidated return, plaintiff treated the gain realized on the Filcrest liquidation as a capital gain, and also claimed a foreign tax credit for any Canadian income, war or excess profits taxes which Filcrest had paid over the years to Canada on that part of the liquidation distribution which represented Filcrest's accumulated earnings and profits. …

Go to article

Taxation-Federal Income Taxation-Examination Of Certain Problems Under Section 335, Roger B. Harris S.Ed. Apr 1962

Taxation-Federal Income Taxation-Examination Of Certain Problems Under Section 335, Roger B. Harris S.Ed.

Michigan Law Review

Stock and securities of controlled corporations may be distributed to shareholders, tax free, in cases of corporate separations which qualify under section 355 of the Internal Revenue Code of 1954. A corporate separation is effected by the transfer of part of a corporation's assets to a subsidiary, the stock of which is distributed to the parent's stockholders. Such distributions are generally classified into three categories: spin-off, split-off, and split-up. A spin-off occurs when corporation A forms corporation B to which A transfers certain assets, receiving in exchange, the stock of corporation B. A then distributes the stock of …

Go to article

Corporate Employee Tax Status For The Professional Man, Carmen A. Stavole Jan 1962

Corporate Employee Tax Status For The Professional Man, Carmen A. Stavole

Cleveland State Law Review

Professional associations (i.e., corporations) have been specifically authorized by several state legislatures recently, contrary to the old rule that practice of a learned profession by a corporation is forbidden. Among these states are Connecticut, Illinois, Ohio, Oklahoma, Pennsylvania and Wisconsin. The purpose is to make available to professional men the tax advantages of corporate employee status.

Go to article

Stock Options For Directors In Small Corporations, Robert H. Moore Jr. Jan 1962

Stock Options For Directors In Small Corporations, Robert H. Moore Jr.

Cleveland State Law Review

The treatment stock options have received since the enactment of Section 421 of the 1954 Code has come under much criticism. Section 421 of the Code authorizes the so-called "restricted"stock options. It is not the purpose of this paper, however, to enter the controversy about restricted stock options but to consider the so-called "non-restricted" and to suggest revisions in the law that appear merited with respect to them.

Go to article

Corporate Employee Tax Status For The Professional Man, Carmen A. Stavole Jan 1962

Corporate Employee Tax Status For The Professional Man, Carmen A. Stavole

Cleveland State Law Review

Professional associations (i.e., corporations) have been specifically authorized by several state legislatures recently, contrary to the old rule that practice of a learned profession by a corporation is forbidden. Among these states are Connecticut, Illinois, Ohio, Oklahoma, Pennsylvania and Wisconsin. The purpose is to make available to professional men the tax advantages of corporate employee status.

Go to article

A Critique Of The Business-Purpose Doctrine, Robert S. Summers Dec 1961

A Critique Of The Business-Purpose Doctrine, Robert S. Summers

Cornell Law Faculty Publications

The aims of this article are: (1) to define the nature and significance of the business-purpose doctrine as applied in the field of Federal income taxation; (2) to summarize several considerations that support abandonment of the doctrine; and (3) to consider whether a substitute doctrine is needed. Several recent cases indicate that the influence of the business-purpose doctrine is declining, and in the recent case of Knetsch v. United States the Supreme Court appears to have substituted an alternative doctrine. The dual thesis of the present article is that the business-purpose doctrine ought to be abandoned and that there is …

Go to article

Taxation- Federal Income Tax-Status Of Stock-For-Stock Exchange Where Boot Is Involved, Roger B. Harris S. Ed Nov 1961

Taxation- Federal Income Tax-Status Of Stock-For-Stock Exchange Where Boot Is Involved, Roger B. Harris S. Ed

Michigan Law Review

Taxpayer was the sole stockholder of International Dairy Supply Company. In 1952, Foremost Dairies, Inc. acquired from taxpayer all his stock in Supply Company in exchange for 82,375 shares of Foremast's common stock and 3,000,000 dollars cash. Taxpayer reported as gain from the transaction only the 3,000,000 dollars "boot" received, less allowable expenses. The Commissioner determined a deficiency of 278,823 dollars, asserting that the nonrecognition provision of the 1939 Code counterpart of section 356 (a) (1) was inapplicable and therefore taxpayer's entire gain realized on the disposition must be recognized. The Tax Court upheld taxpayer's contention that by virtue of …

Go to article

Taxation-Federal Income Tax-Corporation Held Not Collapsible Where View To Sell Arose After Construction Completed, Amalya L. Kearse Mar 1961

Taxation-Federal Income Tax-Corporation Held Not Collapsible Where View To Sell Arose After Construction Completed, Amalya L. Kearse

Michigan Law Review

Petitioners had formed a corporation for the purpose of building and operating a housing project. After the construction was completed and most of the apartments rented, small cracks were discovered in the buildings. Without soliciting engineering or other technical opinion, petitioners sold their stock in the corporation. The Tax Court upheld respondent-commissioner's taxing the profit from the sale of stock as ordinary income rather than capital gain, on the theory that the corporation was "collapsible" under section 117 (m) of the Internal Revenue Code of 1939. On appeal, held, reversed. Since the view to the sale of stock did …

Go to article

First Prev Next Last