The Madras High Court recently in AGS Construction has repelled the challenge to levy of service tax on lease of cinematographic films, inter alia, declaring that the Parliament has legislative competence to impose service tax and in any case the levy is on temporary transfer of cinematographic...

Issuers in registered securities offerings must disclose the expected tax consequences to investors investing in the offered securities (“nonfinancial tax disclosure”). This Article advances three arguments regarding nonfinancial tax disclosures. First, nonfinancial tax disclosure practice,...

This article examines the constitutional rules that determine the state corporate income or sales tax jurisdiction of a multistate business. It evaluates a historical trend in which the Due Process Clause has become more important in such cases relative to the Commerce Clause, and considers the...

Comparatively a recent entrant in the fiscal space, 'Service Tax' in India has garnered legislative and judicial attention more than its fair share. Given its contribution to the public exchequer and fueled by the consistent increase in collection, the legal and constitutional challenges to the...

This article analyzes the Federal income tax treatment of state incentive tax credits. It considers whether and when refundable credits should be included in income and discusses their appropriate character as capital gain or as ordinary income

For nearly all advanced industrialized nation-states, taxation is the central source of public revenue. Indeed, taxation is the one policy area without which nearly all of the other functions and aspects of the modern state would not be possible. Thus, to continue the Bourdieuian metaphor of a...

In the early twentieth century, the taxation of modern business corporations became increasingly important to the development of American democracy. During that time, governments at all levels began to view business corporations not only as sources of badly needed public revenue, but also as...