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Complexity Cubed: Partnerships, Interest, and the Proposed Regs
Get PDFNew section 163(j) strictly limits business interest expense (BIE) deductions to large (and possibly not-so-large) taxpayers. Generally, BIEs may only be deducted to the extent that they do not exceed 30 percent of adjusted taxable income plus business interest income. Section 163(j)(4) requires partnerships to calculate this limitation at the partnership level. In this report, I focus on how section 163(j) applies to partnerships. Given my focus, I leave to others a more comprehensive review of section 163(j) as a totality,1 as well as the coverage of S corporations. I will tend to give fairly short shrift to the portions of the statute and proposed regulations (REG-106089-18) that do not primarily apply to partnerships. For the most part, I assume the reader is well-versed in subchapter K. I begin by laying out some background to the enactment of section 163(j) and its application to partnerships
The Consumer Healthcare Data Market: Redefining Healthcare Mergers Through The Linked Consumer Retail Data and Health Insurance Markets
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Braiding the Strands of Narrative and Critical Reflection with Critical Theory and Lawyering Practice
Get PDFIn Defense of the PIP Regulations
Get PDFThe section 704(b) allocation Regulations contain a highly complex safe harbor, the substantial economic effect rules. If an allocation fails to comply with the safe harbor, it will only survive scrutiny if it is in accordance with the partners\u27 interests in the partnership (PIP). Given the complexity of the safe harbor, one might expect the PIP Regulations to be similarly complex, but nothing could be further from the truth. The PIP Regulations are, by tax standards, concise and straightforward. Some have argued that the PIP Regulations do not provide enough guidance, and that a more complex and comprehensive set of regulations would be preferable. In this Article, I argue that judges have made successful use of the PIP Regulations, and that a more complex set of PIP Regulations would achieve little and indeed might cause more problems than they solve. Accordingly, I argue against any substantial amendment to the PIP Regulations, though I would provide a safe harbor for target allocations
The Demand for Unilateral Secession in Catalonia: While the Cause is Compelling, Secession Would Not Be Legal Under International Law
Get PDFTensions between Catalonia and Spain have finally boiled over, leading to Catalonia’s decision to unilaterally secede from Spain. On October 1, 2017, an overwhelming 90% of voters chose to leave Spain in a referendum held by the Catalonian parliament. On October 10, 2017, Carles Puigdemont, President of Catalonia, gave a speech claiming that “with the results of the referendum on October first, Catalonia has earned the right to be an independent state.” The issue has now become whether Catalonia has the right, under international law, to maintain their unilateral secession from Spain in order to form their own independent nation. This confrontation between Spain and Catalonia will force another international discussion on which situations may allow one part of a larger state to secede and become a new state
Role of Knowledge Networks and Boundary Organizations in Coproduction: A Short History of a Decision Support Tool and Model for Adapting Multiuse Reservoir and Water-Energy Governance to Climate Change in California
Get PDFClimate adaptation relies on theoretical frameworks of coproduced science and knowledge networks to produce acceptable outcomes for politically contentious resources. As adaptation moves from theory to implementation, there is a need for positive case studies to use as benchmarks. Building from literature on actionable science this paper presents one such positive case—the development of a hydropower and reservoir decision-support tool. The focus of this history is on the multiple phases of interaction (and noninteraction) between researchers and a semidefined community of stakeholders. The lessons presented from the Integrated Forecast and Reservoir Management (INFORM) system project stress that collaborations between managers and researchers were crucial to the success of the project by building knowledge networks, which could outlast formal processes, and by incorporating policy preferences of end users into the model. The history also provides examples of how even successful collaborative projects do not always follow the usual expectations for coproduced science and shows that, even when those guidelines are followed, external circumstances can threaten the adoption of research products. Ultimately, this paper argues for the importance of building strong knowledge networks alongside more formal processes—like those in boundary organizations—for effective collaborative engagement
