Taxation-State and Local Commons^™

Repo Madness: The Characterization Of Repurchase Agreements Under The Bankruptcy Code And The U.C.C., Jeanne L. Schroeder

Articles

The article examines the legal characterization of repurchase agreements (repos) under the Bankruptcy Code and the Uniform Commercial Code (U.C.C.), with a focus on proposed revisions to Articles 8 and 9. It argues that repos should be treated as sales rather than secured loans, primarily due to the repo buyer's unrestricted right to deal with the collateral. This characterization is supported by court rulings in cases such as In re Bevill, Bresler & Schulman and SEC v. Drysdale Securities Corp., which emphasize the transfer of ownership and the buyer's ability to engage with the securities. The article critiques current methods …

State And Local Taxes In Virginia - 1994, D. French Slaughter Iii

William & Mary Annual Tax Conference

No abstract provided.

You Can't Take That Away From Me: The Sanctity Of The Homestead Property Right And Its Effect On Civil Forfeiture Of The Home, Jonathan D. Colan

University of Miami Law Review

No abstract provided.

West Lynn Creamery And The Constitutionality Of State Tax Incentives, Walter Hellerstein

Scholarly Works

One of the more perplexing questions that has surfaced from time to time in the state tax field is how a constitutionally benign tax incentive program designed to attract industry to a state is to be distinguished from an unconstitutionally discriminatory taxing scheme that “forecloses tax-neutral decisions” and “provides a direct commercial advantage to local business.” On one hand, the U.S. Supreme Court has expressed the view that its decisions do “not prevent the States from structuring their tax systems to encourage the growth and development of intrastate commerce and industry.” On the other hand, the Court has frequently invalidated …

The Case For State Pollution Taxes, Richard L. Ottinger

Elisabeth Haub School of Law Faculty Publications

Pollution taxes are a sound environmental instrument. The principal means of controlling pollution in the United States is by command and control regulation, setting standards or limits on emissions and requiring particular pollution control technologies. Command and control regulation of pollution, while necessary to assure pollution reductions, has its limits. While much more certain of reducing pollution than pollution taxes would be, controls tend to be set only at levels that are politically acceptable. Seldom are the full social costs of pollution eliminated in pollution control standards, except where particularly noxious products are banned outright, such as the prohibitions against …

Education: Reform Educational Financing Inequities Today V. Cuomo

Touro Law Review

No abstract provided.

Local Finances: Schulz V. State Of New York

Touro Law Review

No abstract provided.

Local Finances: 1963 Elmwood Avenue Inc. V. Tanzella

Touro Law Review

No abstract provided.

Power To Tax: Greater Poughkeepsie Library District V. Town Of Poughkeepsie

Touro Law Review

No abstract provided.

Local Government Revenues Post-1993 Legislative Session: A Combination Of New And Improved, Mary Kay Falconer, Linda K. Barrow, Steven O'Cain

Florida State University Law Review

No abstract provided.

Forfeited And Delinquent Lands: Resolving The Due Process Deficiencies, Carla W. Tanner

West Virginia Law Review

No abstract provided.

State Taxation Of Corporate Income From Intangibles: Allied-Signal And Beyond, Walter Hellerstein

Scholarly Works

If the field of state taxation has become somewhat of an academic backwater, it is not for want of issues warranting sustained scholarly attention. The Supreme Court alone has provided ample grist for the academic mill by handing down an extraordinary number of significant decisions delineating the federal constitutional restraints on state tax power. Among the state tax questions considered by the Court in recent years, none has figured so prominently and persistently in its deliberations as the states' power to tax the income of multijurisdictional corporations. In Allied-Signal, Inc. v. Director, Division of Taxation, the Court revisited the most …

Tax Update: The 1993 West Virginia Legislature, Harry Preston Henshaw Iii

West Virginia Law Review

No abstract provided.

Dispelling The Myths: Florida's Non-Ad Valorem Special Assessments Law, Henry Kenza Van Assenderp, Andrew Ignatius Solis

Florida State University Law Review

No abstract provided.

Choosing The Form Of A Federal Value-Added Tax: Implications For State And Local Retail Sales Taxes, Alan Schenk

Law Faculty Research Publications

No abstract provided.

The Disclosure Of State Corporate Income Tax Data: Turning The Clock Back To The Future, Richard Pomp

Faculty Articles and Papers

No abstract provided.

Fiscal Smell Tests: A Mid-Term Reality Check Of Massachusetts Finances, Joseph S. Slavet, Joseph R. Barresi

McCormack Graduate School General Publications (active until 2013)

In his latest budget message the Governor points to achievement of a "real, but fragile fiscal balance. " On the credit side of the ledger, he cites four balanced budgets, reduced reliance on one-time revenues, no new taxes, five tax cuts, no deficit borrowing, and a triple upgrade in bond rating. On the debit side are continued spending pressures, slow tax revenue growth and burdensome levels of debt.

But is the fiscal condition of the Commonwealth stable, albeit fragile? Or would a careful reading of the numbers transmit another message?

The purpose of this report is to measure the Commonwealth's …

A Washington State Income Tax—Again?, Hugh D. Spitzer

Seattle University Law Review

This Article shows how, because of changes in key rulings of the United States Supreme Court and in other state court rulings on the character of income taxes, Washington’s legislature could now implement a graduated net income tax on both individuals and businesses. The Article Concludes that such a net income tax measure could lawfully be enacted by today’s legislature without amending the state’s constitution.

State And Local Taxes On Nonprofit Organizations, Rebecca S. Rudnick

Articles by Maurer Faculty

No abstract provided.

Federal Recent Developments

American Indian Law Review

No abstract provided.

The Disclosure Of State Corporate Income Tax Data: Turning The Clock Back To The Future, Richard Pomp

Faculty Articles and Papers

Public access to federal tax return information has been evaluated and debated since the enactment of the first federal income tax. As a way to fund the Civil War, the Revenue Act of 1862 imposed an income tax on individuals, and provided that members of the public were entitled to examine the names of taxpayers and their liabilities. The initial purpose of this public disclosure was to notify potential taxpayers of the amounts being assessed against them, not to permit the public scrutiny of individual taxpayers. The Revenue Act of 1864 changed that, making all returns open for public inspection …

Corporate Tax Policy And The Right To Know: Improving State Tax Policymaking By Enhancing The Legislative And Public Access, Richard Pomp

Faculty Articles and Papers

This report examines the need for disclosure of state corporate income tax data in order to facilitate more thoughtful tax policymaking as well as accountability and openness in government. While disclosure of federal income tax data has been resolved by the SEC’s required disclosures of public corporations, the only states that have laws mandating disclosure of information relating to their state’s income tax are Arkansas, West Virginia, and Massachusetts.

Firm-specific disclosure of corporate tax information at the state level is necessary for informed tax policy, essential to public understanding of corporate tax reform issues, and will complement SEC mandated disclosures. …

Property Taxation Of Indian Land After County Of Yakima V. Confederated Tribes And Bands Of The Yakima Nation, Robert W. Mcgee

Seattle University Law Review

In 1987, Yakima County, Washington, initiated foreclosure proceedings on properties belonging to the Yakima Indian Nation and its members. The county's foreclosure was precipitated by the property owners' failure to pay past due ad valorem and excise taxes. Despite vigorous arguments by the Yakima Nation, the United States, and the thirty-one Yakima Indian families likely to be rendered homeless by an adverse decision, the United States Supreme Court held in County of Yakima v. Confederated Tribes and Bands of the Yakima Nation, that states have the power to impose ad valorem taxes on reservation land owned in fee by …

A Washington State Income Tax - Again?, Hugh D. Spitzer

Articles

This Article shows how, because of changes in key rulings of the United States Supreme Court and in other state court rulings on the character of income taxes, Washington’s legislature could now implement a graduated net income tax on both individuals and businesses. The Article concludes that such a net income tax measure could lawfully be enacted by today’s legislature without amending the state’s constitution.

Tax Policy At The Beginning Of The Clinton Administration, Michael J. Graetz

Faculty Scholarship

Ten years ago, in 1983, the Yale Journal on Regulation was started by students at the Yale Law School to foster scholarship and debate on issues of regulatory policy. Today the Journal staff consists of students from Yale University graduate and professional programs in law, management, forestry, and public health. One of the Journal's primary missions was to track the regulatory/deregulatory developments under the Reagan Administration and later the Bush Administration. Since our tenth anniversary coincided with the installment of a Democratic Administration under President Clinton, we have asked two professors at the Yale Law School to submit an essay …

Recent Developments In State Taxation, William L.S. Rowe

William & Mary Annual Tax Conference

No abstract provided.

Rider V. County Of San Diego: Special Districts And Special Taxes Under Proposition 13, William A. Stahr

San Diego Law Review

The voters of California passed initiative Proposition 13 in 1978. This initiative limited the ability of state and local taxing authorities to raise revenue. The courts were left with the difficult task of interpreting that initiative as applied to numerous factual situations, a task made more difficult by the lack of any meaningful legislative history. When San Diego County sought to finance certain judicial and criminal facilities with a sales tax increase, the California Supreme Court had already lain out an analysis of Proposition 13 that suggested the new tax was constitutionally imposed. However, upon challenge in Rider v. County …

State Taxation Of Nonresidents' Pension Income, Walter Hellerstein

Scholarly Works

This article examines the issues raised by the efforts of some states to tax the pension income of their former residents and of the proposed congressional legislation to forbid such taxation. While there may be sound policy reasons for forbidding state taxation of nonresident pension income, they have yet to emerge clearly from the rhetoric that has thus far dominated the debate over the pension tax issue. The goal of the article is to examine the questions raised by the controversy over state taxation of nonresident pensions in the hope that dispassionate analysis of the problem may contribute to a …

The Refund Of Taxes Paid Pursuant To An Unconstitutional Tax Scheme And The Pass-On Defense: Beams Intellectual Dishonesty Threatens Every States' Budetary Stability, Edmund J. Rollo

West Virginia Law Review

No abstract provided.

An Economic And Political Look At Federalism In Taxation, Daniel Shaviro

Michigan Law Review

Part I of this article examines the reasons for preferring locationally neutral taxes and explains the basic tension between locational neutrality and state and local autonomy in taxation. Part II examines the federal judicial check on state and local taxation, which often relies on a principle barring discrimination against outsiders or interstate commerce. Part III explores the need for a broad federal judicial check by examining state and local governments' reasons for imposing (or avoiding) locationally distortive taxes, the countervailing benefits of allowing such governments broad autonomy in taxation, and Congress' willingness to strike down locationally distortive taxes under its …