Social and Behavioral Sciences Commons^™

Building An Equitable And Inclusive City Through Housing Policies: Singapore's Experience, S Y Phang

PHANG Sock Yong

No abstract provided.

A Study Of The Effects Of Certificate Of Need Law On Inpatient Occupancy Rates, Jomon Aliyas Paul, Huan Ni, Aniruddha Bagchi

Aniruddha Bagchi

Trading Sustainably: Critical Considerations For Local Groundwater Markets Under The Sustainable Groundwater Management Act, Nell Green Nylen, Michael Kiparsky, Kelly Archer, Kurt Schneir, Holly Doremus

Nell Green Nylen

The Sustainable Groundwater Management Act (SGMA), passed in 2014, is changing the way California manages its groundwater resources. SGMA calls for the creation of local Groundwater Sustainability Agencies (GSAs) and tasks them with developing and implementing Groundwater Sustainability Plans (GSPs) to achieve sustainable groundwater management. SGMA offers GSAs a broad palette of tools to choose from and significant flexibility to tailor their management activities to local conditions and needs. Because it allows GSAs to assign groundwater extraction allocations to pumpers and to authorize transfers of these allocations under certain circumstances, SGMA potentially opens the door for the development of local …

International Reserves And Rollover Risk, Javier Bianchi, Juan Carlos Hatchondo, Leonardo Martinez

Leonardo Martinez

No abstract provided.

A Political Theory Of Kulturkampf: Evidence From Imperial Prussia & Republican Turkey, Ioannis N. Grigoriadis, Theocharis Grigoriadis

Theocharis Grigoriadis

No abstract provided.

Precarious Paradise: The Financial Well-Being Of Hispanic Immigrant Day Laborers In Malibu, Luisa Blanco, Lila M. Carlsen, Daniel R. Morrison, George Carlsen, Ashley Chaparro, Erick Molina

Lila McDowell Carlsen

Investor Valuations Of Japan's Adoption Of A Territorial Tax Regime: Quantifying The Direct And Competitive Effects Of International Tax Reform, Sebastien J. Bradley, Estelle Dauchy, Makoto Hasegawa

Sebastien J Bradley

Multiple Pollutants, Co-Benefits, And Suboptimal Environmental Policies, Don Fullerton, Daniel Karney

Don Fullerton

No Taxation, No Representation: An Investigation Of The Relationship Between Natural Resources And Fiscal Decentralization, Andrew Balthrop, Mohammad Arzaghi

Andrew Balthrop

Urban Rail Transit Ppps: Lessons From East Asian Cities, S Y Phang

PHANG Sock Yong

Trading Sustainably: Critical Considerations For Local Groundwater Markets Under The Sustainable Groundwater Management Act, Nell Green Nylen, Michael Kiparsky, Kelly Archer, Kurt Schneir, Holly Doremus

Holly Doremus

The Sustainable Groundwater Management Act (SGMA), passed in 2014, is changing the way California manages its groundwater resources. SGMA calls for the creation of local Groundwater Sustainability Agencies (GSAs) and tasks them with developing and implementing Groundwater Sustainability Plans (GSPs) to achieve sustainable groundwater management. SGMA offers GSAs a broad palette of tools to choose from and significant flexibility to tailor their management activities to local conditions and needs. Because it allows GSAs to assign groundwater extraction allocations to pumpers and to authorize transfers of these allocations under certain circumstances, SGMA potentially opens the door for the development of local …

Crop Residues: The Rest Of The Story, Douglas L. Karlen, Rattan Lal, Ronald F. Follett, John M. Kimble, Jerry L. Hatfield, John A. Miranowski, Cynthia A. Cambardella, Andrew Manale, Robert P. Anex, Charles W. Rice

Douglas L Karlen

Synopsis In the February 15, 2009 issue of ES&T Strand and Benford argued that oceanic deposition of agricultural crop residues was a viable option for net carbon sequestration (43 [4], 1000−1007). In reviewing the calculations and bringing their experience to bear, Karlen et al. argue in this Viewpoint that crop residue oceanic permanent sequestration (CROPS) as envisioned by Strand and Benford will not work. They further propose alternative possibilities in agricultural methods to achieve a net decrease of CO2 emissions.

When Discharge Of Indebtedness Occurs In Bankruptcy, Neil Harl

Neil E. Harl

The farm debt crisis of the 1980’s left numerous legacies, not the least of which is the continuing discharge of indebtedness from formal and informal resolutions of excessive debt. The various rules on when discharge of indebtedness occurs have created surprising and painful results for some taxpayers.

Single Class Of Stock In S Corporations, Neil Harl

Neil E. Harl

Almost from the day of enactment of Subchapter S of the Internal Revenue Code in 1958, the single class of stock requirement has generated questions that have led to extensive litigation, repeated attempts to address the issues by regulation and numerous rulings in an effort to resolve the issues involved. The major area of concern has been the line between debt securities and equity interests, particularly where the debt securities represented shareholder loans.

When Discharge Of Indebtedness Occurs If The Debtor Is Not In Bankruptcy, Neil Harl

Neil E. Harl

As was noted in the March 30, 1990 issue of Agricultural Law Digest, whether discharge of indebtedness occurs for debtors in bankruptcy depends upon the chapter of the Bankruptcy Code. For Chapter 12 debtors, discharge of indebtedness takes place upon completion of payments under the plan. For debtors not in bankruptcy, the rules for when discharge of indebtedness take place are different and the consequences are also quite different.

Transfer Of Residence With Continued Occupancy, Neil Harl

Neil E. Harl

The rule has been well established that a transfer of a residence to a spouse with occupancy by the transferring spouse until death, would not result in inclusion of the value of the residence in the transferor's gross estate under a theory of a retained life estate. The courts have consistently required proof of at least an implied agreement between the husband and wife (assuming the transferring spouse continued occupancy) before that spouse is held to have retained possession or enjoyment so as to require inclusion of the residence in the gross estate. If the transferor is to prevail, it …

Taxing Joint Tenancy Property, Neil Harl

Neil E. Harl

Although joint tenancy (and tenancy by the entirety in the few states where that form of co-ownership is recognized) is apparently used less frequently than three or four decades ago, joint ownership is still widely used, particularly for real property co-ownership. A recent decision has focused attention on the issue of income tax basis of joint tenancy (or tenancy by the entirety) property after the death of the first joint tenant to die.

Deferred Payment Sales: Amt Liability, Neil E. Harl

Neil E. Harl

Since enactment of the Installment Sales Revision Act of 1980, which permitted the installment sale of grain and livestock, questions have been raised regarding the continuing availability of the deferred payment procedure established by cases and rulings. In recent years, the importance of the question of whether both procedures can be used has been magnified by the 1986 enactment subjecting installment sales of inventory property to potential liability for alternative minimum tax.6 A recent IRS technical advice memorandum (TAM) has provided some insight to the IRS national office position on the two issues — (1) are installment sales of inventory …

Gifts Of Grain And Other Farm Commodities, Neil E. Harl

Neil E. Harl

The sale of assets held by the taxpayer primarily for sale to customers in the ordinary course of business (such as grain or market livestock) usually produces ordinary income. That rule has encouraged gifts of grain and other farm commodities to spouses, children, grandchildren or other family members who are not considered to be holding the gift property for sale to customers. The outcome is capital asset treatment for gains and avoidance of liability for self-employment tax.

Leasing Personal Property, Neil Harl

Neil E. Harl

Appearance of the note on Part I of the 1992 edition of Schedule E, Form 1040, that taxpayers are to "report income and expense from the rental of personal property on Schedule C or C-EZ" has raised concerns about the proper reporting of rentals from personal property such as farm machinery rented after retirement to children or others. Several high profile audits in which examining agents have taken a relatively aggressive stance on the issue have added to the concerns.

Resale Of Land Purchased Under Installment Obligation, Neil Harl

Neil E. Harl

For decades, taxpayers have tried various strategies for selling land, qualifying the transaction for installment reporting of the gain with the land then resold to a third party for cash. Often, the initial transaction involved related parties with the resale typically made to a developer who paid cash and received title to the property. The result of the two stage transaction, if successful, was to have the initial buyer in possession of the full purchase price with the initial buyer making payments to the initial seller who reports the gain over the period of the installment obligation.

Preferred Stock And Special Use Valuation, Neil Harl

Neil E. Harl

The special use valuation statute clearly contemplates that land held by an entity should be eligible for special use valuation. However, regulations have not been issued providing guidance on the procedure for valuing land held by a corporation, partnership or trust even though the issuance of regulations was mandated in the statute, enacted in 1976. Other than for a Tax Court case holding that a corporation could not utilize special use valuation and at the same time claim a minority discount, until the issuance of a 1992 private letter ruling, estates have been forced to rely on the general guidance …

Earnings After Retirement, Neil E. Harl

Neil E. Harl

Many farmers, approaching retirement, must make important decisions on — (1) the nature of their relationship to the farm business in retirement, (2) the extent of their personal involvement in business operations, and (3) the timing and manner of disposition of their inventory of crops and livestock during the retirement years.

Inattention To Deferred Increases In Tax Bases: How Michigan Homebuyers Are Paying For Assessment Limits, Sebastien J. Bradley

Sebastien J Bradley

The Present Interest Test For Purposes Of Special Use Valuation, Neil E. Harl

Neil E. Harl

Since publication of the initial regulations, the Internal Revenue Service has maintained that real property was eligible for special use valuation only if a qualified heir received a present interest from the decedent. Two branches of the present interest test have emerged.

Health Insurance For Employees, Neil E. Harl

Neil E. Harl

The rising cost of medical and hospital care and the cost of insurance coverage have led to increased interest in ways to make such costs fully deductible without the benefits being includible in income for the taxpayer. Through 1991 (and the first six months of 1992 if the President signs the bill extending the deduction through June 1992), a 25 percent deduction is allowed for health and accident amounts for self-employed individuals provided — (1) the taxpayer is not eligible to participate in any subsidized health plan maintained by an employer for the taxpayer or the taxpayer's spouse and (2) …

Reporting Government Farm Payment Programs, Neil E. Harl

Neil E. Harl

As a general rule, federal (and state) agricultural program payments received as cash or in the form of services are includible in income. The time at which the amounts are received or made available is ordinarily the time the payments are to be included in income. Amounts are considered to be "made available" in the year in which program requirements have been met, regardless of whether an application had been signed to receive final payment. The fact that a farm operator does not sign the application for final payment until the following year does not defer income to the later …

Joint Tenancy Disclaimers: What Can Be Disclaimed?, Neil E. Harl

Neil E. Harl

For years the Internal Revenue Service resisted the disclaimer of joint tenancy interests on the grounds that the disclaimer had to occur within nine months of the creation of the joint tenancy. IRS eventually came to accept the disclaimer of revocable joint tenancies within nine months after death and even more recently indicated that the Service would not resist the disclaimer of joint tenancy interests in other than revocable joint tenancies where there was a predeath right to sever the joint interests The focus on when joint tenancies could be disclaimed obscured the question of what could be disclaimed.

No Interest Deduction For Private Annuities, Neil Harl

Neil E. Harl

Although a 1929 case, Commissioner v. Moore Corp., had suggested that an interest deduction could be claimed by the obligor under a private annuity arrangement, cases considering the issue since that time have held that no part of the payments made under private annuities involving the acquisition of property is deductible as interest. A 1992 decision by the U.S. Claims Court, Rye v. United States, is in accord with the view that an interest deduction may not be claimed by the obligor and the imputed interest rules likewise do not apply to private annuities.

Renting Farm Machinery At Retirement Or Otherwise, Neil E. Harl

Neil E. Harl

The 1989 Tax Court case of Carl Stevenson has raised questions as to whether self-employment tax is due on rental income where farm machinery is rented to others (usually children) after retirement or is retained at the time of incorporation and rented to the newly-formed corporate entity.