Tax Law Commons^™

International Taxation And Competitiveness: Introduction And Overview, Reuven S. Avi-Yonah, Nicola Sartori

Law & Economics Working Papers

The debate about whether to abolish deferral or to adopt territoriality has been going on ever since the Kennedy Administration first proposed ending deferral in 1961. The problem is that neither side has factual support for their argument about whether the U.S. tax system, including Subpart F, as currently enacted or with any of the proposed reforms, in fact negatively impacts the tax burden of US-based MNEs. Even the concept of competitiveness itself is unclear. Despite numerous claims, there has been no rigorous attempt that we are aware of to determine whether MNEs based in our major trading partners in …

Federal Income Taxation Of Business Enterprises: Cases, Statutes, Rulings, Sergio Pareja, Richard A. Westin, Ricahrd C.E. Beck

Faculty Book Display Case

This fourth edition covers the basics of the federal income taxation of partnerships and corporations including the taxation of LLCs, LLPs and S corporations. In addition, it alludes to a short list of other business enterprises. It is designed to be taught as two major components: partnerships and corporations. Both components use the traditional "cradle-to-grave" approach. Because of their practical importance, the book makes reference to Social Security taxes and estate taxes. There is no discussion of State income taxes.

Although the book is comparatively short, the materials are thorough and are heavily supplemented with problems.

The cases have been …

Examining The Tax Advantage Of Founders' Stock, Gregg D. Polsky, Brant J. Hellwig

Scholarly Works

Recent commentary has described founders' stock as tax-advantaged because it converts founders' compensation income into capital gains. In this paper we describe various founders' stock strategies that offer this character conversion and then analyze whether they are, on the whole, tax advantageous. While the founders' stockstrategies favorably convert the character of the founders' income, they simultaneously turn the company's compensation deductions into non-deductions. Whetherfounders' stock is tax-advantaged overall depends on whether the benefit of the founders' character conversion outweighs the cost of the company's lost deductions. We use various hypothetical to illustrate this tradeoff. We conclude that founders' stock is …

Evaluating The Performance Of The U.S. Social Safety Net In The Great Recession, Keith Gunnar Bentele

Center for Social Policy Publications

The following provides an assessment of the performance of both individual safety net programs and the cumulative impact of all safety net benefits and tax credits on household incomes in the early years during and following the 2007-09 recession. Specifically, I examine the extent to which various benefits and tax credits have moderated the impact of earnings losses for households in different positions in the income distribution, with special attention to the experiences of low-income households. In addition, I examine whether these moderating impacts differ for households of various racial/ethnic compositions, female-headed households, and residents of states with more and …

Stem Cell Research And Conditional Federal Funding: Do State Laws Allowing More Extensive Research Pose A Problem For Federalism?, Charity Schiller

Pepperdine Law Review

No abstract provided.

Technology, Vat Compliance, And ‘Black Swan’ Blindness, Richard Thompson Ainsworth

Faculty Scholarship

There is fundamentally no difference between a value added tax (VAT), and a retail sales tax (RST) when it comes to collecting the tax on cross-border sales. If (under a VAT) a seller is allowed to “zero-rate” cross-border sales, or if (under a RST) a seller is exempt from collecting the tax on cross-border sales, the critical enforcement question is exactly the same – how does the system assure that the buyer will self-assess (and pay) the tax?

The simple answer is that the tax administration audits. The more complicated answer notes that the effectiveness of the audit (by the …

Protect Your Pension: Important Documents You Should Keep, Mia Midenjak

Pension Action Center Publications

No matter what kind of pension or retirement plan your employer offers, you should keep certain documents indefinitely to ensure that your retirement benefit is paid correctly. Based on our experience with finding lost retirement income and assisting workers and retirees to get the benefits they have earned, we recommend that you save the following information.

Profile - The Gates Foundation Leed Platinum Seattle Headquarters, James Hagy

Rooftops Project

In this first article in his series looking at not-for-profits as urban neighbors, Professor James Hagy, Director of The Rooftops Project, visits with the Gates Foundation at its recently opened LEED Platinum Seattle headquarters campus.

Fitness Tax Credits: Costs, Benefits, And Viability, Daniel M. Reach

Northwestern Journal of Law & Social Policy

As the number of overweight and obese Americans rises, it becomes increasingly clear that Americans need further incentives to stimulate lasting lifestyle changes. Tax incentives focused on exercise, which have been largely unexplored to this point, are an effective response to the growing obesity problem in the United States that would largely avoid the political opposition that tax policies focused on diet have encountered. In addition, they would also provide a more palatable solution for the taxpayer beneficiaries with a relatively low impact on government revenues. Viable tax incentives to encourage greater fitness include tax credits and sales tax breaks, …

The Exit Tax: A Move In The Right Direction, William L. Dentino, Christine Manolakas

William & Mary Business Law Review

Citizenship-based taxation was first enacted during the Civil War, in large part to express congressional disapproval of wealthy individuals who fled abroad to avoid bearing the financial and physical burdens of the war. A century later, motivated by a desire to encourage foreign investment in the United States, Congress passed legislation in 1966 that offered significant tax incentives to nonresident aliens, thereby creating an opportunity for tax abuse. To discourage U.S. citizens from expatriating to avoid U.S. taxation, Congress contemporaneously enacted I.R.C. section 877, which taxes expatriates on certain U.S.-source income for a ten-year period after expatriation. Congress, and the …

The Correlation Between Off-Shoring And Tax Avoidance, Elena Svetlov

College of Management Honors Theses

This research paper intends to examine the relationship between U.S Multinational Corporation off-shoring and tax avoidance. This paper will address the following research question: How does off shoring affect the difference between taxable and book income of U.S. multinational firms? The research is conducted via statistical analysis of data from the Off shoring Research Network (ORN) database. The findings of this research paper will potentially be valuable to tax economists, policy makers, and business managers as the findings will provide a better understanding of worldwide tax allocation. Also, the findings of this research may be useful for the potential establishment …

Federal - State Tax Coordination: What Congress Should Or Should Not Do -- Testimony Of Walter Hellerstein On Tax Reform: What It Means For State And Local Tax And Fiscal Policy, Before The Committee On Finance, Walter Hellerstein

Scholarly Works

Testimony of Walter Hellerstein, Francis Shackelford Professor of Taxation Distinguished Research Professor, before the Committee on Finance, hearing on Tax Reform: What It Means for State and Local Tax and Fiscal Policy, United States Senate, April 25, 2012.

The U.S. Tax System: Where Do We Go From Here?, Adele C. Morris

Brookings Scholar Lecture Series

This talk will explore how the U.S. tax system really works, where revenue comes from, where spending goes, what a tax expenditure is, and discuss deficit prognoses and how the recent political debates could affect our economy. The speaker will highlight some advantages and disadvantages of different budget balancing options.

Obamacare And The 'What Is A Tax?' Issue – Part Ii, Steve R. Johnson

Scholarly Publications

We are engaged in a two-part exploration. The previous installment of our column reviewed the perennial question of whether a given state or local exaction should be classified as a tax or something else. It rehearsed the contexts in which the issue has arisen in state and local tax controversies, the practical stakes involved in those controversies, and the criteria courts have developed to distinguish between truces and other types of governmental levies.

The previous installment also said that a new source of guidance as to the “what constitutes a tax?” question is developing: litigation over the individual mandate and …

Defined Value Clauses And Fair Market Value, Wendy G. Gerzog

All Faculty Scholarship

In Hendrix the Tax Court considered the issues of whether defined value clauses were the result of arm’s-length transactions and whether they were void as against public policy. The underlying dispute was whether the taxpayers’ transfers of the John H. Hendrix Co. stock were valued at fair market value. With a decision favoring the taxpayers, the defined value clauses in both McCord and Hendrix impede the accurate valuation of taxable gifts to family members and of deductible charitable gifts.

Interstate Competition And State Death Taxes: A Modern Crisis In Historical Perspective , Jeffrey A. Cooper

Pepperdine Law Review

No abstract provided.

Giving Useful Tax Planning Advice, Heather M. Field

Faculty Scholarship

No abstract provided.

Front Matter

ACTEC Law Journal

No abstract provided.

Major Reforms Of The Property Restatement And The Uniform Probate Code: Reformation, Harmless Error, And Nonprobate Transfers, John H. Langbein

ACTEC Law Journal

In late 2011, the American Law Institute published the third and final volume of the Restatement (Third) of Property: Wills and Other Donative Transfers. In March 2012, the Restatement's two reporters, Professors Lawerence W. Waggoner and John H. Langbein, presented the Joseph Trachtman Memorial Lecture at the annual meeting of the American College of Trust and Estate Counsel in Miami Beach. Introducing the two lecturers, ACTEC President Mary Radford described them as "two icons in our field, [who] have had a hand in every major development in trust and estate law that has occurred over the past three decades..." In …

What's In The Third And Final Volume Of The New Restatement Of Property That Estate Planners Should Know About, Lawrence W. Waggoner

ACTEC Law Journal

No abstract provided.