Catalogue of legal authority addressing the federal definition of tax partnership

Bradley T. Borden
I. INTRODUCTION The following Table of Legal Authority Addressing the Federal Definition of Tax Partnership presents a summary of numerous statutes, cases, regulations, and rulings (the legal authority) that address the federal definition of tax partnership. The Table is a work-in-progress.[1] Nonetheless, it may serve a useful purpose in its current unfinished condition. The Table is the byproduct of a law review...

Family Income and Income Taxes During the Economic Recovery

Jim Saxton
Executive Summary This report examines the federal tax burden for middle-income married-couple families with two children, and reaches the following conclusions: Median income after taxes for married-couple families with two children reached a record high of $57,330 in 2003, an increase of $1,233 (or 2.2 percent) from the 2000 level. The income tax relief passed in 2001 and 2003 buoyed income after federal taxes...

The Meaning of Enterprise, Business, and Business Profits Under Tax Treaties and Domestic Tax Law (forthcoming, 2011)

Allison Christians
Written by: Allison Christians and Yariv Brauner[*] PART I. THE MEANING OF “ENTERPRISE” AND “BUSINESS” IN DOMESTIC NON-TAX LAW The terms ―business‖ and ―enterprise‖ are very widely used in United States legislation[1] Given the prevalence of the terms – business and enterprise, an exhaustive survey of their use in non-tax legislation in the United States is beyond the scope of this report....

Biometrics, Certified Software Solutions, and the Japanese Consumption Tax: a Proposal For the Tax Commission

Richard Ainsworth
Significant change is anticipated in the Japanese Consumption Tax. This is the conclusion of the Japanese Tax Commission in its mid-term report, presented to Prime Minister Junichiro Koizumi on June 17, 2003. When the Tax Commission’s Chairman, Professor Hiromitsu Ishi,[1]submitted A Sustainable Tax System for Japan’s Aging Society[2]the Commission indicated that it was responding to a“state of crisis…[brought...

The Digital VAT (D-VAT)

Richard Ainsworth
The most sustained U.S. tax policy debate of the past 30 years concerns proposals to replace and/ or supplement the Federal Income Tax with a consumption tax.[2] Public finance economists and legal tax policy scholars challenged[3] and defended[4] the current income tax system on grounds of fairness,[5] efficiency, [6] and simplicity.[7] This debate over revamping the national taxing scheme has not been argued purely...

Psychic Income, Taxes and the Allocation of Talent

E. Glen Weyl
Abstract The efficiency consequences of taxation through its effect on occupational choice can be the opposite of the traditional labor supply effects that economists have focused on. Murphy et al. (1991) argue that some occupations may have positive, others negative, externalities. If occupations with positive externalities tend to be more enjoyable, then progressive taxation can have the efficiency benefit of encouraging...

The Last Best Hope For Progressivity in Tax

Edward Mccaffery
Written by: Edward J. McCaffery and James R. Hines Jr. 1. Introduction Pity President Obama. Pity tax. Pity the dreams of progressives everywhere. Barack Obama’s presidential campaign gave believers in redistribution a brief shining moment of hope. Obama’s candidacy featured stirring calls for the richest Americans to give back and share more with their less fortunate fellow citizens. Yet even then, beneath...

Don’t Increase Federal Gasoline Taxes; Abolish Them

Jerry Taylor
Written by: Jerry Taylor and Peter Van Doren Executive Summary Many experts believe that gasoline taxes should be increased for a variety of reasons. Their arguments are unpersuasive. Oil is not disappearing, and when it becomes more expensive, market agents will substitute away from gasoline to save money. The link between oil price shocks and recessions, although real in the 1970s, has been much more benign since...

Fixing the Constitutional Absurdity of the Apportionment of Direct Tax

Calvin Johnson
Fixing the Constitutional Absurdity of the Apportionment of Direct Tax argues that the Constitutional requirement that "direct tax" be apportioned among the states according to population should never be used to make any federal tax impossible. "Direct tax" is a word like "trash" defined by what you are going to do with it, and "direct tax" originally meant "apportionable tax." Before the Constitution, "direct tax" included...

Fiscal Policy Instruments for Reducing Congestion and Atmospheric Emissions in the Transport Sector: a Review

Govinda Timilsina
Written by: Govinda R. Timilsina and Hari B. Dulal 1. Introduction Fiscal instruments are primarily price-based instruments that take advantage of market mechanisms and work through prices (Acutt and Dodgson, 1997). These instruments include: congestion charge or toll tax, emission and/or pollution tax or charge (e.g., carbon tax, sulfur tax), fuel tax (e.g., any excise tax on fuel or a BTU tax), vehicle tax (e.g.,...

The Correct Value of Tax Shields. An Analysis of 23 Theories

Pablo Fernandez
This paper provides clear, theoretically sound, guidelines to evaluate the appropriateness of 23 different valuation methods to estimate the present value of tax shields. We first show that the value of tax shields is the difference between the present values of two different cash flows with their own risk: the present value of taxes for the unlevered company and the present value of taxes for the levered company....

Slinking Away From Twinkie Taxes

Joel Newman
‘‘A tax can be a means for raising revenue, or a device for regulating conduct, or both.’’ — Felix Frankfurter[1] ‘‘Frankly, I think government shouldn’t have a darn thing to do with what we sell or how our customers eat. As long as it is safe, tastes good and is fair priced, why should the mayor care?’’ — Frances Sack, operating partner, Dalessandro’s, a chain of cheesesteak restaurants in...
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