LexisNexis® Legal Newsroom
Martin A. Sullivan
California's Trendy Business Tax Proposal

Now that Governor Schwarzenegger and the legislature have completed another painful round of budget negotiations, lawmakers can give some attention to the work of California's tax reform commission. The most interesting proposal under consideration...

LexisNexis Tax Center
Thompson v. United States, 2009 U.S. Claims LEXIS 250 (Fed. Cl. July 20, 2009)

A taxpayer operating as a limited liability company met the general partner exception to IRC Sec § 469(a)(2) . The taxpayer could substantiate material participation in the LLC’s business activities. Treas. Reg. § 1.469-5(T) . The taxpayer...

Peter Miller
Elephant in the Room: Cap-and-Trade, Not Healthcare Reform

Cap-and-Trade legislation (a.k.a. the Waxman-Markey bill; a.k.a. the American Clean Energy and Security Act of 2009) is a stepchild in the news nowadays, taking a back seat (or being left to take the bus) to frenetic healthcare reform work and politicking...

David Brunori
We Used to Have Much Higher Taxes on the Rich

The top federal tax rate on a single taxpayer is 35% right now. That kicks in at $372,951. ... The current 35% is a bargain by historical standards. Even the "scary" 4.9% surcharge being proposed to pay for healthcare reform results in relatively...

Joseph J. Thorndike
The Surtax Shouldn't Be a Progressive Priority

I'm no fan of the surtax, chiefly because I think it threatens the long-term viability of health care reform. If people aren't willing to pay for reform, then they won't defend it when things get ugly... But if the surtax is bad for health...

Martin A. Sullivan
New Twist on Healthcare Financing

[T}here is no real difference between taxing the sellers or buyers of insurance. But... there is a world of political difference -- particularly in this Congress -- between taxing unions and taxing big, bad insurance companies. Keep your eye on this trick...