Paul L. Caron
Dean




Monday, October 1, 2007

Tax Cases in the Supreme Court's New Term

The Supreme Court begins its new term today on this first Monday of October.  Here are the five tax cases the Court has agreed to hear:

Kentucky Department of Revenue v. Davis, No. 06-666

Knight v. Commissioner, No. 06-1286

  • Date of Oral Argument:  Not Yet Scheduled
  • Docket
  • Question Presented:  There is a deep, irreconcilable and widely noted conflict among the Second, Fourth, Sixth and Federal Circuits about the meaning of § 67(e) — which permits trusts and estates to deduct on their income tax returns certain administrative expenses — and whether the statute permits fees for investment management and advisory services to be fully deducted on trust’s and estate’s income tax returns. This is an important and recurring question of federal tax law that involves deductions by trusts and estates that total in the billions of dollars annually. The Question Presented is: Whether § 67(e) permits a full deduction for costs and fees for investment management and advisory services provided to trusts and estates.
  • Opinion Below
  • Briefs
  • Commentary

CSX Transportation Inc. v. Georgia State Board of Equalization, No. 06-1287

MeadWestvaco Corp. v. Illinois, No. 06-1413

  • Date of Oral Argument: Not Yet Scheduled
  • Docket
  • Question Presented:  Is the attempt by Illinois to tax the approximately $1 billion gain realized by Petitioner when it sold its investment in Lexis/Nexis in 1994 (which it acquired in 1968 for $6 million and which functioned for 26 years as an independent, nonunitary business) in direct conflict with the decisions of the Court in Allied-Signal, Inc. v. Director, Division of Taxation, 504 U.S. 768 (1992), FW. Woolworth Co. v. Taxation & Revenue Department of New Mexico, 458 U.S. 354 (1982), and ASARCO Inc. v. Idaho State Tax Commission, 458 U.S. 307 (1982) and the Due Process and Commerce Clauses of the United States Constitution?
  • Opinion Below
  • Briefs
  • Commentary

Boulware v. United States, No. 06-1509

https://taxprof.typepad.com/taxprof_blog/2007/10/tax-cases-in-th.html

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» On the Web - Five Tax Cases in Supreme Court's New Term from Wealth Strategies Journal Blog
The Supreme Court begins its new term today. The Tax Prof Blog summarizes the five tax cases the Court has agreed in its post "Tax Cases in the Supreme Court's New Term." Of interest to Wealth Strategies Journal Blog readers, [Read More]

Tracked on Oct 1, 2007 4:07:26 PM

» Tax cases to be heard by the Supreme Court from Don't Mess With Taxes
The Supreme Court has five tax cases on its docket for the new term, which began Monday. A couple of them strike me as having the potential to affect average taxpayers. First, there's Kentucky Department of Revenue v. Davis, which deals with the issue ... [Read More]

Tracked on Oct 2, 2007 12:36:19 PM

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