Taxation-State and Local Commons^™

Volunteer Income Tax Assistance Available To Local Community Members Through March 28, James Owsley Boyd

Keep Up With the Latest News from the Law School (blog)

With tax season now in full-swing through April 18, a dedicated group of volunteers is making the filing process easier—and cheaper—for many local community members. Local taxpayers with an annual income under $57,000 are eligible for free tax preparation help from students at the Indiana University Maurer School of Law’s Volunteer Income Tax Assistance site on Monday and Tuesday evenings from 6 to 9 p.m. beginning January 30.

State Workarounds To The Irc's Salt Cap: The Past, The Present, And Building For The Future, Richard Stephenson Mcewan

Indiana Law Journal

Recently, Congress has debated measures to provide some relief to taxpayers negatively impacted by the Internal Revenue Code’s State and Local Tax (SALT) deductibility limit. Although Congress has not yet budged on whether to adjust this cap, many states have taken it upon themselves to find creative workarounds to provide relief for their constituent taxpayers. In the face of an uncertain future for the current SALT cap, crucial questions exist for these state workarounds and those still to come. This Note carefully lays out the individual income tax issue posed by the SALT cap, before analyzing the core elements of …

Sacrificing Sovereignty: How Tribal-State Tax Compacts Impact Economic Development In Indian Country, Pippa Browde

Faculty Law Review Articles

Economic development is a critical component of tribal sovereignty. When a state asserts taxing authority within Indian Country, there is potential for overlapping, or juridical, taxation over the same transaction. Actual or even potential juridical taxation threatens economic development opportunities for tribes. For many years, tribes and states have entered into intergovernmental agreements called tax compacts to reduce or eliminate juridical taxation. Existing literature has done little more than mention tax compacts with cursory cost-benefit analyses of the agreements. This is the first Article to critically examine the role tax compacts serve in promoting tribes’ economic development.

This Article analyzes …

Weathering State And Local Budget Storms: Fiscal Federalism With An Uncooperative Congress, David Gamage, Darien Shanske, Gladriel Shobe, Adam Thimmesch

University of Michigan Journal of Law Reform

Throughout most of 2020, state and local governments faced severe budget crises as a result of the COVID-19 pandemic. Increased demand for state welfare services and rising state expenses related to controlling the spread of COVID-19 stretched state and local budgets to their breaking points. At the same time, layoffs, business closures, and social distancing measures reduced states’ primary sources of tax revenues. The traditional practice of American fiscal federalism is for the federal government to step in to provide aid during a national emergency of this magnitude, because state and local governments lack the federal government’s monetary and fiscal …

Taxation, Craig D. Bell

University of Richmond Law Review

This Article reviews significant recent developments in the laws affecting Virginia state and local taxation. Its Parts cover legislative activity, judicial decisions, and selected opinions and other pronouncements from the Virginia Department of Taxation (the “Tax Department” or “Department of Taxation”) and the Attorney General of Virginia over the past year. Part I of this Article addresses state taxes. Part II covers local taxes, including real and tangible personal property taxes, license taxes, and discrete local taxes. The overall purpose of this Article is to provide Virginia tax and general practitioners with a concise overview of the recent developments in …

Tribal Sovereignty And Economic Efficiency Versus The Courts, Robert J. Miller

Washington Law Review

American Indian reservations are the poorest parts of the United States, and a higher percentage of Indian families across the country live below the poverty line than any other ethnic or racial sector. Indian nations and Indian peoples also suffer from the highest unemployment rates in the country and have the highest substandard housing rates. The vast majority of the over three hundred Indian reservations and the Alaska Native villages do not have functioning economies. This lack of economic activity starves tribal governments of the tax revenues that governments need to function. In response, Indian nations create and operate business …

Tax Complexity And Technology, David I. Walker

Indiana Law Journal

The Federal Income Tax Code has become increasingly complex over time with the implication that many taxpayers no longer understand the connection between their life decisions and their taxes. Some commentators have suggested that increasing computational complexity may be attributable in part to the proliferation of tax preparation software that renders such complexity manageable at filing time, but otherwise does nothing to mitigate the “black box” nature of the tax system. While such complexity and opacity undercut explicit incentives embedded in the Code, make planning more difficult, and undermine political accountability for taxes, they may also reduce the inefficient distortion …

Phased Mark-To-Market For Billionaire Income Tax Reforms, David Gamage, Darien Shanske

Articles by Maurer Faculty

In this installment of Academic Perspectives on SALT, Gamage and Shanske advocate for phased mark-to-market as a mechanism for reforming the taxation of investment gains of billionaires and megamillionaires.

Front Matter (Letter From The Editor, Masthead, Etc.)

The Contemporary Tax Journal

No abstract provided.

Recent Development: Arkansas Insurance Dep't. Final Rule 126: "Insurance Business Transfers", Silas Heffley

Arkansas Law Review

Pursuant to Act 1018 of 2021, “An Act to Establish the Arkansas Business Transfer Act,” the Arkansas Insurance Department has promulgated Final Rule 126 “to provide standards and procedures for the transfer and novation of insurance policies from a transferring insurer to an assuming insurer through a transaction known as an ‘insurance business transfer.’” The Rule requires that the applicant submit an Insurance Business Transfer Plan—along with a nonrefundable $10,000 fee—to the Department detailing the transaction. One critical element of this Plan is the Independent Expert Opinion Report. An independent expert will produce a written report to be included in …

Written Testimony Of Philip Hackney For The Hearing On Laws And Enforcement Governing The Political Activities Of Tax-Exempt Entities (U.S. Senate Finance Committee Subcommittee On Taxation And Irs Oversight, May 4, 2022), Philip Hackney

Testimony

Are tax laws and IRS enforcement up to the task of overseeing the tax issues associated with the political activities of tax-exempt organizations? Though the tax laws governing the tax-exempt realm are wanting, our overall legal structure is not bad. It is justifiable at least. Where we fall down as a nation in this space is in the enforcement. We do not allocate enough resources to this arena, and we do not institutionally offer the support necessary to enforce these laws. These failures do not favor one party over the other but favor those interests in the country with the …

A Framework For Understanding The Taxation Of Digital Tokens, Vincent Ooi

Research Collection Yong Pung How School Of Law

As a relatively new area, the taxation of digital tokens can give rise to several dangerous misconceptions. This article lays out five propositions to counter these misconceptions: 1) digital tokens are not a single monolithic asset class attracting uniform tax treatment; 2) the common trichotomous division of digital tokens into payment, utility and security tokens is derived from securities regulation and should not be blindly adopted into tax law; 3) the three classes are not mutually exclusive and hybrid tokens may exist; 4) the fact that an asset is a digital token rarely changes its tax treatment by itself, which …

The Pain Of Paying Taxes, Gary M. Lucas Jr

Faculty Scholarship

With a few caveats, standard economic models assume that, from society’s perspective, the payment of a tax constitutes a costless transfer from the taxpayer to the government. The financial loss to the taxpayer is exactly offset by the financial gain to the government, which can use the resulting tax revenue for the benefit of its citizens. In other words, paying taxes forces taxpayers to forgo private consumption, but the resulting loss in utility can be counterbalanced by an increase in utility from government spending. In fact, if the government spends wisely on beneficial public goods that are undersupplied by private …

The Impact Of Social Security Of Dependents And Financing Of Post-Secondary Education Of Dependents On Support Obligations In Particularly California Divorces After The Tax Cuts And Jobs Act Of 2017, John R. Dorocak

Marquette Benefits and Social Welfare Law Review

The 2017 Tax Cuts and Jobs Act made alimony in divorce decrees and separation agreements entered into after December 31, 2018, neither deductible by the payor nor income to the payee for federal income tax purposes. Likely, that change in the tax law will result in less income to payees in a divorce and higher taxes for payors. In California, support in divorces is basically calculated by the software program Dissomaster. With payors facing higher taxes, such payors may look for possible sources of additional income for paying support. Payors may receive a credit in California against the support obligation …

Federally Mandated Online Sales Tax: A Logistical Solution For The Future Of E-Commerce, Daniel O'Connor

DePaul Business & Commercial Law Journal

No abstract provided.

Economic Structural Transformation And Litigation: Evidence From Chinese Provinces, To Economic Change And Restructuring, Doug Bujakowski, Joan Schmit

DePaul Business & Commercial Law Journal

No abstract provided.

The "Business Interruption" Insurance Coverage Conundrum: Covid-19 Presents A Challenge, Paul E. Traynor

DePaul Business & Commercial Law Journal

No abstract provided.

Misalighned Incentives In Markets: Envisioning Finance That Benefits All Of Society, Dr. Ryan Clements

DePaul Business & Commercial Law Journal

No abstract provided.

California Ab 1121, Sales Tax Exemption Emergency Preparation Items, Pooja Karelia Cpa, Sheetal Partani Ea

The Contemporary Tax Journal

No abstract provided.

Front Matter (Letter From The Editor, Masthead, Etc.)

The Contemporary Tax Journal

No abstract provided.