Recent Development: Arkansas Insurance Dep't. Final Rule 126: "Insurance Business Transfers",
2022
University of Arkansas, Fayetteville
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 …
A Framework For Understanding The Taxation Of Digital Tokens,
2022
Singapore Management University
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 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,
2022
Marquette University Law School
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 …
The Pain Of Paying Taxes,
2022
Texas A&M University School of Law
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 …
Federally Mandated Online Sales Tax: A Logistical Solution For The Future Of E-Commerce,
2022
Depaul University College of Law
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,
2022
Drake University Law School
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,
2022
University of North Dakota School of Law
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,
2022
University of Calgary
Misalighned Incentives In Markets: Envisioning Finance That Benefits All Of Society, Dr. Ryan Clements
DePaul Business & Commercial Law Journal
No abstract provided.
Front Matter (Letter From The Editor, Masthead, Etc.),
2022
San Jose State University
Front Matter (Letter From The Editor, Masthead, Etc.)
The Contemporary Tax Journal
No abstract provided.
California Ab 1121, Sales Tax Exemption Emergency Preparation Items,
2022
San Jose State University
California Ab 1121, Sales Tax Exemption Emergency Preparation Items, Pooja Karelia Cpa, Sheetal Partani Ea
The Contemporary Tax Journal
No abstract provided.
Monsanto: Creator Of Cancer Liability,
2022
DePaul University
Monsanto: Creator Of Cancer Liability
DePaul Business & Commercial Law Journal
No abstract provided.
Impact Of Corporate Response To Controversial Presidential Statements Or Policies,
2022
DePaul University
Impact Of Corporate Response To Controversial Presidential Statements Or Policies
DePaul Business & Commercial Law Journal
No abstract provided.
Restricting Funeral Expense Deductions,
2022
Southern Illinois University School of Law
Restricting Funeral Expense Deductions, William A. Drennan
Dickinson Law Review (2017-Present)
During the Middle Ages, the wealthy often requested burial in mass graves with their fellow mortals, as a sign of humility. But since the rise of the cult of the individual during the Renaissance, individual burial plots have been an expression of prestige, wealth, and social status for some. For example, Leona Helmsley, real estate baroness and “Queen of Mean,” dedicated $3 million upon her death for the care and maintenance of her 1300 square foot, $1.4 million mausoleum. Respectful disposition of the body is a hallmark of civilization and a common law requirement of estate administration, but an extravagant …
Sb 361: Law Enforcement Strategic Support Act,
2022
Georgia State University College of Law
Sb 361: Law Enforcement Strategic Support Act, Adenike Tijani, Adelarin Yemi-Sofumade
Georgia State University Law Review
This Act provides a new income tax credit for individuals, LLC members, partnership partners, and S-corporation shareholders ranging from $5,000-$10,000 for donations to law enforcement foundations, defined as domestic nonprofit corporations with the sole function of supporting local law enforcement units. The Act caps credits for all taxpayers at $75 million per year.
Hb 517: Amendments Relating To Student Scholarship Organizations,
2022
Georgia State University College of Law
Hb 517: Amendments Relating To Student Scholarship Organizations, Olivia D. Pounds, Samantha A. Masters
Georgia State University Law Review
The Act extends the annual revenue received by student scholarship organizations to include interest earned on deposits and investments of scholarship funds or tuition grants. The Act expands the scope of auditing that student scholarship organizations are subjected to and compels the organizations to submit Form 990 to the Department of Revenue. Further, the Act allows certain insurance companies to partake in the tax program and increases the tax credit available to participating taxpayers. Lastly, the Act increases the aggregate amount of tax credits allowed per year to $120 million.
Weathering State And Local Budget Storms: Fiscal Federalism With An Uncooperative Congress,
2022
Indiana University Maurer School of La
Weathering State And Local Budget Storms: Fiscal Federalism With An Uncooperative Congress, David Gamage, Darien Shanske, Gladriel Shobe, Adam Thimmesch
Articles by Maurer Faculty
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 …
From Zero-Sum To Economic Partners: Reframing State Tax Policies In Indian Country In The Post-Covid Economy,
2022
Alexander Blewett III School of Law at the University of Montana
From Zero-Sum To Economic Partners: Reframing State Tax Policies In Indian Country In The Post-Covid Economy, Pippa Browde
Faculty Law Review Articles
The disparate impact COVID-19 has had on Indian Country
reveals problems centuries in the making from the legacy of
colonialism. One of those problems is state encroachment in
Indian Country, including attempts to assert taxing authority
within Indian Country. The issue of the reaches of state taxing
authority in Indian Country has resulted in law that is both
uncertain and highly complex, chilling both outside investment
and economic development for tribes.
As the United States emerges from COVID-19, to focus only on the
toll exacted on tribes and their peoples ignores the tremendous
opportunities for states to right these historical …
How To Design An Antiracist State And Local Tax System,
2022
University of Nevada, Las Vegas -- William S. Boyd School of Law
How To Design An Antiracist State And Local Tax System, Francine J. Lipman
Scholarly Works
Since the first ship of enslaved African people landed in Virginia in 1619, racist policies in institutions, systems, structures, practices, and laws have ensured inequity for people of color. These racist policies include every imaginable variant of injustice from slavery to lynching, to segregation, and to economic injustices, including those delivered through tax systems today. Although facially color-blind, tax systems have long empowered the explosion of white wealth and undermined wealth accumulation for Black families and communities of color. State and local tax systems, especially in the South, have deeply-rooted racist fiscal policies, including Jim Crow laws that continue to …
Cic Services, Llc V. Internal Revenue Service: An Unlikely Win For Low-Income Taxpayers,
2022
University of Maryland Francis King Carey School of Law
Cic Services, Llc V. Internal Revenue Service: An Unlikely Win For Low-Income Taxpayers, Fasika Z. Delessa
University of Maryland Law Journal of Race, Religion, Gender and Class
No abstract provided.
Broken Infrastructure,
2022
University of Missouri - Kansas City, School of Law
Broken Infrastructure, Del C. Wright Jr.
Faculty Works
This article examines the cryptocurrency-related provisions of the Infrastructure Investment and Jobs Act of 2021, focusing on amendments to the Internal Revenue Code that expand tax reporting and surveillance obligations for digital assets. Specifically, it analyzes the new “Broker” and “Tax” provisions, which extend reporting requirements beyond traditional financial intermediaries to actors in the blockchain ecosystem who may lack access to the necessary data. The article situates these provisions within the broader regulatory and political context, tracing their roots to prior Treasury rulemaking efforts and exploring their intended role in closing the “tax gap.” It highlights the significant compliance challenges, …
