Tax Law Commons^™

The Shifting Economic Allegiance Of Capital Gains, Amanda Parsons

Publications

No abstract provided.

Structural Tax Reform And The Next Reit Revolution, Sloan G. Speck

Publications

No abstract provided.

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Voting Matters: Materiality Considerations And The Shareholder Vote, Renee M. Jones

Seattle University Law Review

For the shareholder franchise to have meaning, shareholders must have access to relevant information to inform their voting decisions. The securities laws’ disclosure requirements play an essential role in informing the shareholder vote.

This Essay focuses on the question of the materiality of information in the context of shareholder voting. It addresses the question of whether ESG-related information is material, positioning the materiality inquiry within the context of shareholders’ voting decisions. It explores the definition of materiality with a focus on the “reasonable investor” concept embedded within the definition. The Essay argues that the implicit expectations of many commentators that …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

Understanding The Big Three’S Wavering Support Of Environmental And Social Shareholder Proposals, Jeff Schwartz, Jefferson Jensen

Seattle University Law Review

Because of their substantial equity portfolios, BlackRock, Vanguard, and State Street (the Big 3) are central players in corporate governance. It is, therefore, critical to understand how they vote. One puzzle is that their support for shareholder proposals on environmental and social matters appears to waiver. In 2020, for instance, BlackRock supported 11.1% of environmental proposals at S&P 500 firms. In 2021, it seemingly reversed course, supporting 55.2%. It then flipped again, supporting 32.1% in 2022. Such statistics suggest that the Big 3 are constantly changing their views on these topics. This Article seeks to better understand whether this is …

Volume 48 Masthead, Seattle University Law Review

Seattle University Law Review

Volume 48 Masthead

The Perils Of Pseudo-Textualism, Reuven S. Avi-Yonah

Articles

How much freedom does the IRS have to interpret the code?

In recent years, the Supreme Court and lower courts have put significant barriers in front of the IRS’s ability to interpret the code as it wishes. The question is to what extent the IRS can live with the barriers of textualism, nondeference, the major questions doctrine, nondelegation, and the Administrative Procedure Act. Of these, textualism seems to be the most problematic because it is the hardest to fix. The major questions doctrine rarely applies to statutory tax cases. Nondeference based on Loper Bright can be restricted by Congress adding …

Un Tax Negotiations: North-South Tensions And The Challenge Of Institutional Legitimacy, Assaf Harpaz

Scholarly Works

The drafting process for a United Nations Framework Convention on International Tax Cooperation, along with two early protocols, is now underway. A UN framework convention represents a Global South effort to shift international tax policymaking from the OECD to the UN. For developing countries, the UN has long been viewed as a more inclusive space for tax policy negotiations, producing more favorable but historically less influential standards compared to the OECD.

Support for the UN framework convention, including its terms of reference, has been sharply divided across traditional Global North-South lines. The backlash following the OECD’s recent two-pillar reform triggered …

Global Tax Wars In The Digital Era, Assaf Harpaz

Scholarly Works

The digital economy fundamentally disrupts international tax principles that rely on physical presence. When a business earns income abroad, the country of residence (where the taxpayer resides) and the country of source (where income is generated) both have legitimate, competing claims to tax that income. The international tax system tends to favor residence-based taxation. The source country has the right to tax business profits only if the enterprise carries on a permanent establishment within its borders, which typically requires physical presence. The permanent establishment standard becomes flawed in a digital economy where profit shifting practices are abundant and businesses no …

Reading The Tea Leaves: Unrealized Income, Separation Of Powers, And An Examination Of Whether There Is More To The Moore Case Than The Mandatory Repatriation Tax, Natasha Varyani

Roger Williams University Law Review

No abstract provided.

The Irs's Misguided Playbook For Nil Collectives, Olivia M. Lubarsky

American University Law Review

Since the emergence of name, image, and likeness (NIL) opportunities for NCAA student-athletes, the IRS continues to scrutinize and ultimately deny many NIL collectives’ claims for section 501(c)(3) tax-exempt status, particularly questioning their asserted charitable purposes. This Note explores the foundation of the IRS's reasoning and argues that the IRS tangles key legal requirements, undervalues the public benefits generated by NIL collective activities, and applies inconsistent standards that overlook the educational and amateur sports charitable purposes these collectives can serve. By addressing the inconsistencies in the IRS's reasoning, NIL collectives may chart a viable path toward securing tax-exempt status.

Carried Interest: Recent Tax Holding Envisions Need For New Legislation, Patrick Lucas

FIU Law Review

In the financial world, carried interest represents the share of the profits of a private equity fund allocated to its manager which is disproportionate when compared to the manager’s relative capital contribution. On May 3, 2023 the Tax Court issued its memorandum opinion in ES NPA Holding, LLC v. Commissioner. The decision quickly became popularized as providing reassurance to sponsors of private equity funds that they will rarely, if ever, realize income as a result of the issuance of a profits/carried interest (the so-called front-end issue for carried interest). The so-called back-end issue is how the income arising from a …

What Can One Learn From Chinese Tax Administration? A Precis Of The Administrative Foundations Of The Chinese Fiscal State (Cambridge University Press, 2022), Wei Cui

All Faculty Publications

The Administrative Foundations of the Chinese Fiscal State (Cambridge University Press 2022) explores how China developed a tax system to support its economic transformation. Among scholars who study taxation and economic growth, a familiar idea is that it is generally very difficult for poor countries to develop the state apparatus needed to raise revenue. The lack of revenue, in turn, prevents governments from providing critical public goods and services needed to spur economic growth. State capacity in taxation, therefore, is a major determinant of which countries become prosperous and which do not. An obvious question, then, is whether the evolution …

Wellness And The Tax Law, Leigh Z. Osofsky

Faculty Publications

The tax law has long provided extensive subsidies for “medical care.” These subsidies cost the government hundreds of billions of dollars a year. The definition of medical care, which is at the heart of these subsidies, originated many decades ago at a time when there was little to no conception of wellness.

Times have changed in the medical world. Medical science now emphasizes that wellness practices, like exercise, meditation, and social connection, have an important impact on physical as well as mental health, including by playing a significant role in preventing and treating disease. Under the tax statute, medical care …

Getting Donor-Advised Funds Regulation Right: Closing The Public Support Test Loophole, Benjamin Leff

Scholarly Articles in Law Reviews & Journals

Donor-Advised Funds (“DAFs”) have been the subject of vigorous critical scholarship in the past two decades. This Article addresses two timely issues in DAF regulation: the theoretical justifications for extra strict regulation of DAFs, and, in light of those justifications, how to close a major loophole in the regulatory scheme. DAFs have been called “virtual private foundations” because they are similar in some respects to private foundations, but until two decades ago, they were treated for legal purposes as public charities. In 2006, Congress enacted legislation that both formally recognized DAFs for the first time and subjected them to several …

International Economic Agreements As Impediments To Carbon Tax Climate Change Mitigation: Is The Un Framework Tax Convention The Way Forward?, Edwin Vanderbruggen

Indian Journal of International Economic Law

This article outlines some of the international legal impediments to domestic environmental tax policies in furtherance of climate change mitigation, i.e. certain WTO rules on trade in goods, fuel tax exemptions in aviation treaties, and tax stabilisation provisions that are protected under the umbrella clause of investment treaties. It argues that international action is the most effective and often the only option to address those legal obstacles. The emergence of the United Nations Framework Convention on International Tax Cooperation (‘FTC’) is, in that regard, a timely development. Given the central institutional role UN-related bodies already have in climate change, sea …

Into The Sunset: Divorcing Families Need Their Slice Of The Tcja Reversions, John C. Mcdonald

BYU Law Review

On its path to sufficiently offsetting its major cut to the corporate income tax rate in 2017, Congress turned to a surprising source for funds: the alimony support payments of recently divorced families. Alimony’s inclusion/deduction regime in §§ 71 and 215 of the Code allowed divorcing couples to reach mutually beneficial divorce agreements for over half a century until it was unceremoniously repealed by the Tax Cuts and Jobs Act of 2017 with a striking lack of satisfying legislative justifications. This Note suggests that in evaluating the impact of the repeal, Congress and others have failed to consider an important …

The 40th Annual Tei - Sjsu High Tech Tax Institute Conference On November 4-5, 2024: The Latest And Greatest In Equity Compensation, Shuang Zhang

The Contemporary Tax Journal

No abstract provided.

The 40th Annual Tei-Sjsu High Tech Tax Institute Conference On Nov. 4-5, 2024: R&D In Uncertain Tax Times, Jing Luo

The Contemporary Tax Journal

No abstract provided.