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J. Martin Burke | |
|---|---|
| Nationality | American |
| Scientific career | |
| Institutions | University of Montana |
J. Martin Burke is an American legal scholar and Regents Professor Emeritus of Law at the University of Montana. [1] [2]
|
J. Martin Burke | |
|---|---|
| Nationality | American |
| Scientific career | |
| Institutions | University of Montana |
J. Martin Burke is an American legal scholar and Regents Professor Emeritus of Law at the University of Montana. [1] [2]
Tax law or revenue law is an area of legal study in which public or sanctioned authorities, such as federal, state and municipal governments use a body of rules and procedures (laws) to assess and collect taxes in a legal context. The rates and merits of the various taxes, imposed by the authorities, are attained via the political process inherent in these bodies of power, and not directly attributable to the actual domain of tax law itself.
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them. Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income.
A limited liability company is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. An LLC is not a corporation under state law; it is a legal form of a company that provides limited liability to its owners in many jurisdictions. LLCs are well known for the flexibility that they provide to business owners; depending on the situation, an LLC may elect to use corporate tax rules instead of being treated as a partnership, and, under certain circumstances, LLCs may be organized as not-for-profit. In certain U.S. states, businesses that provide professional services requiring a state professional license, such as legal or medical services, may not be allowed to form an LLC but may be required to form a similar entity called a professional limited liability company (PLLC).
A tax treaty, also called double tax agreement (DTA) or double tax avoidance agreement (DTAA), is an agreement between two countries to avoid or mitigate double taxation. Such treaties may cover a range of taxes including income taxes, inheritance taxes, value added taxes, or other taxes. Besides bilateral treaties, multilateral treaties are also in place. For example, European Union (EU) countries are parties to a multilateral agreement with respect to value added taxes under auspices of the EU, while a joint treaty on mutual administrative assistance of the Council of Europe and the Organisation for Economic Co-operation and Development (OECD) is open to all countries. Tax treaties tend to reduce taxes of one treaty country for residents of the other treaty country to reduce double taxation of the same income.
A taxpayer is a person or organization subject to pay a tax. Modern taxpayers may have an identification number, a reference number issued by a government to citizens or firms.
The University of Montana (UM) is a public research university in Missoula, Montana. UM is a flagship institution of the Montana University System and its second largest campus. UM reported 10,962 undergraduate and graduate students in the fall of 2018. It is classified among "R1: Doctoral Universities – Very high research activity" as of 2022.
Edwin Robert Anderson Seligman (1861–1939), was an American economist who spent his entire academic career at Columbia University in New York City. Seligman is best remembered for his pioneering work involving taxation and public finance. His principles for a progressive federal income tax were adopted by Congress after the passage of the Sixteenth Amendment. A prolific scholar and teacher, his students had great influence on the fiscal architecture of postcolonial nations. He served as an influential founding member of the American Economics Association.
Taxation in Indonesia includes income tax, value added tax and carbon tax.
International taxation is the study or determination of tax on a person or business subject to the tax laws of different countries, or the international aspects of an individual country's tax laws as the case may be. Governments usually limit the scope of their income taxation in some manner territorially or provide for offsets to taxation relating to extraterritorial income. The manner of limitation generally takes the form of a territorial, residence-based, or exclusionary system. Some governments have attempted to mitigate the differing limitations of each of these three broad systems by enacting a hybrid system with characteristics of two or more.
The Income and Corporation Taxes Act 1988, also known as ICTA, was the foremost United Kingdom Act of Parliament concerned with taxation until the Income Tax Act 2007 and the Corporation Tax Act 2010. ICTA was enacted in order to consolidate a number of earlier legislative provisions covering taxation. Originally, ICTA primarily covered income tax and corporation tax. It is the longest Act of Parliament to have ever been written.
General partner is a person who joins with at least one other person to form a business. A general partner has responsibility for the actions of the business, can legally bind the business and is personally liable for all the partnership's debts and obligations.
Private equity funds and hedge funds are private investment vehicles used to pool investment capital, usually for a small group of large institutional or wealthy individual investors. They are subject to favorable regulatory treatment in most jurisdictions from which they are managed, which allows them to engage in financial activities that are off-limits for more regulated companies. Both types of fund also take advantage of generally applicable rules in their jurisdictions to minimize the tax burden on their investors, as well as on the fund managers. As media coverage increases regarding the growing influence of hedge funds and private equity, these tax rules are increasingly under scrutiny by legislative bodies. Private equity and hedge funds choose their structure depending on the individual circumstances of the investors the fund is designed to attract.
The Competitive Tax Plan is an approach to taxation, suggested in the United States, that would impose a 10–15% value added tax (VAT) and reduce personal and corporate income taxes. The plan was created by Michael J. Graetz, a tax law professor at Columbia Law School and a former Deputy Assistant Secretary of the Treasury for Tax Policy. Graetz states that the plan would generate enough revenue to exclude families earning less than $100,000 of annual income from having to pay income taxes or file tax returns. The Competitive Tax Plan would provide a new payroll tax offset to replace the Earned Income Tax Credit, protecting low and moderate income workers from any tax increase under the new system. Under the initial proposal, households with an annual income of more than $100,000 would be taxed at a flat 25% rate and the corporate income tax rate would be reduced to 25%. Graetz argues that reducing the corporate tax rate "would make the United States an extremely attractive nation for corporate investments for both U.S. citizens and foreign investors." In 2013, Graetz presented an updated version of his plan for 2015.
Partnership taxation is the concept of taxing a partnership business entity. Many jurisdictions regulate partnerships and the taxation thereof differently.
Imputed income is the accession to wealth that can be attributed, or imputed, to a person when they avoid paying for services by providing the services to themselves, or when the person avoids paying rent for durable goods by owning the durable goods, as in the case of imputed rent.
Budget Note 66 (BN66) is the mechanism by which the UK government introduced clause 55 of the Finance Bill 2008, which would later become Section 58 of the Finance Act 2008. This specifically targeted tax planning and tax avoidance schemes that made use of offshore trusts and double taxation treaties to reduce the tax paid by the scheme's users which had previously been legal. This arrangement was originally used by property developers but was then heavily marketed to the freelance community after the introduction of intermediaries legislation known as IR35, because it appeared to offer more certainty concerning tax liabilities than would be the case if running a limited company.
Taxes in Germany are levied by the federal government, the states (Länder) as well as the municipalities (Städte/Gemeinden). Many direct and indirect taxes exist in Germany; income tax and VAT are the most significant.
John Kent McNulty was an American legal scholar, who was a professor of law at the University of California, Berkeley, School of Law for 38 years from 1964 to 2002 and who as a legal educator and scholar, was influential in shaping U.S. tax law policy debate during the later quarter of the 20th century.
Jakki J. Mohr is the Regents Professor of Marketing at the University of Montana. In 2008, she became the first woman in Montana to be named a Regents Professor by the Board of Regents.
Karen Burke is an American legal scholar and Richard B. Stephens Eminent Scholar Chair in Taxation and Professor of Law at the University of Florida Levin College of Law. Previously she was Warren Distinguished Professor of Law at the University of San Diego School of Law.
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