For Sale. Patents. Never Used: Gaps In The Tax Code For Patent Sales, 11 J. Marshall Rev. Intell. Prop. L. 859 (2012),
2012
UIC School of Law
For Sale. Patents. Never Used: Gaps In The Tax Code For Patent Sales, 11 J. Marshall Rev. Intell. Prop. L. 859 (2012), Khurram Naik
UIC Review of Intellectual Property Law
Patent sales are an underappreciated means of monetizing patents. Recent blockbuster patent sales indicate heightened demand for patent acquisitions. There is evidence that such patent sales transfer patents to parties more skilled in patent enforcement, reducing litigation. Patent sales also move capital to innovators, which enhance incentives to innovate. But crucially, C corporations do not benefit from advantaged tax treatment. Efforts by other nations to encourage patent use and sales by providing “patent box” preferential tax regimes may provide some guidance for remedying this gap in the tax code.
Making Plaintiffs Whole: A Tax Problem Of Interest,
2012
University of Arkansas
Making Plaintiffs Whole: A Tax Problem Of Interest, William E. Foster
Oklahoma Law Review
This article illustrates the dramatic tax impact of interest awards in otherwise non-taxable litigation recoveries and proposes two alternative legislative solutions for the over-taxing of plaintiffs in these cases. While plaintiffs who recover personal injury awards typically receive favorable tax treatment, those who receive interest on such awards are taxed on the interest and often are not able to utilize deductions for attorney’s fees and other costs paid to obtain the award. Further, the attorney’s portion of the recovery in a contingency fee arrangement will be included in the plaintiff’s gross income. The result is that the plaintiff recovers less …
The Tax Revenue Capacity Of The U.S. Economy,
2012
University of Michigan Law School
The Tax Revenue Capacity Of The U.S. Economy, James R. Hines Jr.
Book Chapters
The United States imposes smaller tax burdens than do other large high-income countries, its 24.8 percent ratio of tax collections to GDP in 2010 representing the lowest fraction among the G-7. The United States also differs from other G-7 countries in relying relatively little on expenditure-type taxes. It follows that there is significant unused tax capacity in the United States that could be deployed to pay the country’s debts, but that the most promising source of additional tax revenue is expenditure taxation that is widely perceived to have very different distributional features than the income taxes on which the U.S. …
Managing The Next Deluge: A Tax System Approach To Flood Insurance,
2012
University of Florida Levin College of Law
Managing The Next Deluge: A Tax System Approach To Flood Insurance, Charlene Luke, Aviva Abramovsky
UF Law Faculty Publications
The National Flood Insurance Program (NFIP) has fallen short in fulfilling its promise as a social safety net for flood loss victims. In place of the NFIP, this Article proposes a mandatory social insurance plan that would harness the strengths of the federal taxing authority to provide basic relief for flood losses occurring at an individual’s primary residence. Any plan for addressing flood loss must navigate hotly debated, competing views about government intervention, redistribution, private markets, environmental protection, and property rights. This Article argues that government intervention in flood loss relief is inevitable, at least in the foreseeable future, and …
Understanding Consolidated Returns,
2012
University of Florida Levin College of Law
Understanding Consolidated Returns, Martin J. Mcmahon Jr.
UF Law Faculty Publications
Section 1501 allows all of the members of an affiliated group of corporations to elect to file a consolidated return. A consolidated return permits the includible members of an affiliated group of corporations to combine their incomes into a single return. The detailed rules for filing consolidated returns are found in regulations promulgated pursuant to a broad delegation of authority in section 1502 of the Internal Revenue Code. In general, the regulations reflect a “single entity” approach that attempts to treat the several members of a consolidated group in the same manner as divisions of a single corporation. This article …
Recent Developments In Federal Income Taxation: The Year 2011,
2012
University of Florida Levin College of Law
Recent Developments In Federal Income Taxation: The Year 2011, Martin J. Mcmahon Jr., Ira B. Shepard, Daniel L. Simmons
UF Law Faculty Publications
This recent developments outline discusses, and provides context to understand the significance of, the most important judicial decisions and administrative rulings and regulations promulgated by the Internal Revenue Service and Treasury Department during the most recent twelve months - and sometimes a little farther back in time if we find the item particularly humorous or outrageous. Most Treasury Regulations, however, are so complex that they cannot be discussed in detail and, anyway, only a devout masochist would read them all the way through; just the basic topic and fundamental principles are highlighted - unless one of us decides to go …
Contributor,
2012
Georgia State University College of Law
Responsible Profitability? Not On My Balance Sheet!,
2012
The Catholic University of America, Columbus School of Law
Responsible Profitability? Not On My Balance Sheet!, Arthur Acevedo
Catholic University Law Review
No abstract provided.
Rethinking The Timing Of Tax Decisions: Does A Taxpayer Ever Deserve A Second Chance?,
2012
The Catholic University of America, Columbus School of Law
Rethinking The Timing Of Tax Decisions: Does A Taxpayer Ever Deserve A Second Chance?, Emily Cauble
Catholic University Law Review
No abstract provided.
U.S. Taxes Corporate Income At Comparatively Low Rates,
2012
American University Washington College of Law
U.S. Taxes Corporate Income At Comparatively Low Rates, Andrew Pike
Scholarly Articles in Law Reviews & Journals
No abstract provided.
Getting More By Asking Less: Justifying And Reforming Tax Law’S Offer In Compromise Procedure,
2012
Duke Law School
Getting More By Asking Less: Justifying And Reforming Tax Law’S Offer In Compromise Procedure, Shu-Yi Oei
Faculty Scholarship
The Offer in Compromise (OIC) is a procedure by which the IRS may agree to forgive a portion of the tax liabilities of certain taxpayers. This Article suggests a framework for evaluating the effectiveness of any proposed reforms to this procedure. It presents three arguments that support forgiving tax debts through devices such as the OIC. These arguments are rooted in revenue-raising, fairness, rehabilitative, and socioeconomic considerations. Unfortunately, an analysis of the OIC’s recent history shows that its current structure tends to undermine its effectiveness. The power to effectuate the procedure is dispersed among four stakeholders with divergent interests: Congress, …
Who Wins When Uncle Sam Loses? Social Insurance And The Forgiveness Of Tax Debts,
2012
Duke Law School
Who Wins When Uncle Sam Loses? Social Insurance And The Forgiveness Of Tax Debts, Shu-Yi Oei
Faculty Scholarship
Small-scale tax collections decisions have large-scale distributive consequences. The central question addressed in this Article is whether a deliberate government decision to forgive or to not collect a tax owed can be justified, given the distributive consequences that may result. In brief, the government’s decision not to pursue full collection of a delinquent tax debt may give rise to two types of distributive outcomes: First, the benefits of non-collection may be captured by the forgiven taxpayer’s other creditors. Second, the costs of non-collection may be imposed upon compliant taxpayers and the public through higher taxes, decreased government provision of goods, …
Abusive Tax Practices: The 100-Year Onslaught On The Tax Code,
2012
Barry University School of Law
Abusive Tax Practices: The 100-Year Onslaught On The Tax Code, Arthur Acevedo
Barry Law Review
No abstract provided.
Billions Of Tax Dollars Spent Inflating The Housing Bubble: How And Why The Mortgage Interest Deduction Failed,
2012
Fordham Law School
Billions Of Tax Dollars Spent Inflating The Housing Bubble: How And Why The Mortgage Interest Deduction Failed, Rebecca N. Morrow
Fordham Journal of Corporate & Financial Law
The mortgage interest deduction is an incredibly popular, politically well-supported and hugely expensive tax incentive. Yet economic studies consistently show that the mortgage interest deduction fails to advance its fundamental purpose. It does not increase the rate of homeownership. On the contrary, to the extent that it is effective in influencing human behavior, it does so by inflating home prices and encouraging borrowing against equity. These effects – inflated home prices and excessive borrowing – contributed to the economic crisis of 2008. In the years leading up to the crisis, Americans spent billions of tax dollars further inflating a dangerously …
The Unjustified Subsidy: Sovereign Wealth Funds The Foreign Sovereign Tax Exemption,
2012
Fordham Law School
The Unjustified Subsidy: Sovereign Wealth Funds The Foreign Sovereign Tax Exemption, Jennifer Bird-Pollan
Fordham Journal of Corporate & Financial Law
The taxation of Sovereign Wealth Funds in the United States is outmoded and due for reconsideration. Offering a tax exemption to the billion dollar investment funds owned by foreign governments is both unfair and ineffective. Founded in the principles of sovereign immunity, the foreign sovereign tax exemption, codified in I.R.C. § 892, fails to satisfy the Congressional goals that motivated its creation. This Article explains the current taxation of foreign sovereigns and, by extension, Sovereign Wealth Funds. It then illustrates that the current exemption is simultaneously too broad, providing a tax exemption for activities that are clearly nongovernmental activities, and …
The New Section 1202 Tax-Free Business Sale: Congress Rewards Small Businesses That Survived The Great Recession,
2012
Fordham Law School
The New Section 1202 Tax-Free Business Sale: Congress Rewards Small Businesses That Survived The Great Recession, Beckett G. Cantley
Fordham Journal of Corporate & Financial Law
On September 27, 2010, President Barack Obama signed the Creating Small Business Jobs Act of 2010 (“SBJA”) that contains a temporary amendment to Internal Revenue Code (“IRC”) § 1202. The amendment permits original shareholders of eligible corporation stock to sell the stock without being taxed on the sale. The temporary amendment initially only applied to certain stock acquired after the enactment of the SBJA and before January 1, 2011, but the amendment was extended on December 17, 2010 for another year ending January 1, 2012. With the impending sunset of the 15% capital gains rate at the end of 2012, …
The Unjustified Subsidy: Sovereign Wealth Funds And The Foreign Sovereign Tax Exemption,
2012
University of Kentucky College of Law
The Unjustified Subsidy: Sovereign Wealth Funds And The Foreign Sovereign Tax Exemption, Jennifer Bird-Pollan
Law Faculty Scholarly Articles
The taxation of Sovereign Wealth Funds in the United States is outmoded and due for reconsideration. Offering a tax exemption to the billion dollar investment funds owned by foreign governments is both unfair and ineffective. Founded in the principles of sovereign immunity, the foreign sovereign tax exemption, codified in I.R.C. § 892, fails to satisfy the Congressional goals that motivated its creation. This Article explains the current taxation of foreign sovereigns and, by extension, Sovereign Wealth Funds. It then illustrates that the current exemption is simultaneously too broad, providing a tax exemption for activities that are clearly nongovernmental activities, and …
Taxing Facebook Code: Debugging The Tax Code And Software,
2012
SMU Dedman School of law
Taxing Facebook Code: Debugging The Tax Code And Software, Xuan-Thao Nguyen, Jeffrey A. Maine
Buffalo Law Review
No abstract provided.
Repatriating Tax-Exempt Investments: Tax Havens, Blocker Corporations, And Unrelated Debt-Financed Income.,
2012
Loyola University Chicago
Repatriating Tax-Exempt Investments: Tax Havens, Blocker Corporations, And Unrelated Debt-Financed Income., Samuel D. Brunson
Faculty Publications & Other Works
When a tax-exempt entity is both able and willing to lend its exemption to other taxpayers, tax-averse parties line up to take advantage of its largesse (and, in the process, reduce their own tax bill). Congress, eager to prevent such abuse of the exemption, decided that, in some circumstances, it would tax entities that would otherwise be exempt from taxation. In this Article, I show that Congress's response to such "lending" has failed to solve the problem and, in fact, is harmful to the tax system and to tax-exempt entities. To address this problem, this Article proposes a new way …
The Power To Tax Is The Power To Foreclose: Reuniting Law And Logic In Tribal Immunity From Suit,
2012
University at Buffalo School of Law (Student)
The Power To Tax Is The Power To Foreclose: Reuniting Law And Logic In Tribal Immunity From Suit, Mary E. Saitta
Buffalo Law Review
No abstract provided.
