§Why CasetextPricing

Philip Caprio, et al., Respondents,v.New York State Department of Taxation and Finance, et al., Appellants, Andrew M. Cuomo,, Defendant.

Brief

24 Cited authorities

  1. United States v. Carlton

    512 U.S. 26 (1994)   Cited 181 times   12 Legal Analyses
    Holding no violation of due process where retroactive application of a legislative amendment is "rationally related to a legitimate legislative purpose"

  2. Welch v. Henry

    305 U.S. 134 (1938)   Cited 343 times   2 Legal Analyses
    Upholding Wisconsin law providing for retroactive application of graduated tax on dividends

  3. James Square Assocs. LP v. Mullen

    2013 N.Y. Slip Op. 3935 (N.Y. 2013)   Cited 41 times   2 Legal Analyses
    In James Sq., the Court concluded that a retroactive period of 16 months “should be considered excessive and weighs against the State” (21 N.Y.3d at 249, 970 N.Y.S.2d 888, 993 N.E.2d 374).

  4. Untermyer v. Anderson

    276 U.S. 440 (1928)   Cited 158 times
    Holding that the retroactive provision of the novel gift tax of the Revenue Act of 1924 was invalid as applied to gifts antedating the act

  5. DeMartino v. C.I.R

    862 F.2d 400 (2d Cir. 1988)   Cited 51 times
    Upholding retroactive application of statute applying underpayment penalty to sham transactions as not unconstitutionally harsh or oppressive

  6. Kitt v. States

    277 F.3d 1330 (Fed. Cir. 2002)   Cited 19 times
    Concluding that additional tax for early withdrawal of funds in an IRA does not implicate the Excessive Fines Clause because early withdrawal is not proscribed

  7. Gen. Mills v. Commr. of Revenue

    440 Mass. 154 (Mass. 2003)   Cited 14 times
    Holding that gain from deemed sale of assets should have been included in Massachusetts gross income because it was includable in Federal gross income

  8. Replan Development, Inc. v. Department of Housing Preservation & Development

    70 N.Y.2d 451 (N.Y. 1987)   Cited 29 times   1 Legal Analyses
    In Replan Dev., Inc. v. Department of Housing Preservation & Dev., 70 N.Y.2d 451, 522 N.Y.S.2d 485, 517 N.E.2d 200 (1987), we adopted a "harsh and oppressive" standard when evaluating the retroactive application of a tax statute under due process.

  9. Canisius College v. United States

    799 F.2d 18 (2d Cir. 1986)   Cited 30 times
    Holding that four-year retroactivity period for a FICA tax amendment did not violate due process in light of its curative purpose

  10. Prince v. State Dept. of Revenue

    55 So. 3d 273 (Ala. Civ. App. 2010)   Cited 3 times
    Holding that a plurality opinion “does not constitute binding authority”

  11. Section 1361 - S corporation defined

    26 U.S.C. § 1361   Cited 385 times   51 Legal Analyses
    Providing that any corporation is a taxable C-corporation unless it qualifies for, and elects, S-corp status

  12. Section 1366 - Pass-thru of items to shareholders

    26 U.S.C. § 1366   Cited 361 times   54 Legal Analyses
    Limiting pass-through deductions that shareholder may claim to "shareholder's basis in stock and debt"

  13. Section 453 - Installment method

    26 U.S.C. § 453   Cited 327 times   42 Legal Analyses
    Implying that the sale of "stock or securities which are [not] traded on an established securities market" would be subject to the installment method

  14. Section 338 - Certain stock purchases treated as asset acquisitions

    26 U.S.C. § 338   Cited 88 times   43 Legal Analyses

    (a) General rule For purposes of this subtitle, if a purchasing corporation makes an election under this section (or is treated under subsection (e) as having made such an election), then, in the case of any qualified stock purchase, the target corporation- (1) shall be treated as having sold all of its assets at the close of the acquisition date at fair market value in a single transaction, and (2) shall be treated as a new corporation which purchased all of the assets referred to in paragraph (1)

  15. Section 453B - Gain or loss on disposition of installment obligations

    26 U.S.C. § 453B   Cited 11 times   3 Legal Analyses

    (a) General rule If an installment obligation is satisfied at other than its face value or distributed, transmitted, sold, or otherwise disposed of, gain or loss shall result to the extent of the difference between the basis of the obligation and- (1) the amount realized, in the case of satisfaction at other than face value or a sale or exchange, or (2) the fair market value of the obligation at the time of distribution, transmission, or disposition, in the case of the distribution, transmission

  16. Section 1.338(h)(10)-1 - Deemed asset sale and liquidation

    26 C.F.R. § 1.338(h)(10)-1   Cited 7 times

    (a)Scope. This section prescribes rules for qualification for a section 338(h)(10) election and for making a section 338(h)(10) election. This section also prescribes the consequences of such election. The rules of this section are in addition to the rules of §§ 1.338-1 through 1.338-10 and, in appropriate cases, apply instead of the rules of §§ 1.338-1 through 1.338-10 . (b)Definitions - (1)Consolidated target. A consolidated target is a target that is a member of a consolidated group within the

  17. Section 4-2.2 - Net gains from the sale of real property

    N.Y. Comp. Codes R. & Regs. tit. 20 § 4-2.2   Cited 6 times

    (Tax Law, section 210-A(2)(d)) (a) Net gains (not less than zero) from the sales of real property located in New York are included in New York receipts. Net gains (not less than zero) from sales of real property located within and without New York State are included in everywhere receipts. (b) For each sale of real property, the corporation must compute a gain or loss from the sale by subtracting its adjusted basis in the real property from the sale price of the real property. If the sale price exceeds

  18. Section 2376.1 - General

    N.Y. Comp. Codes R. & Regs. tit. 20 § 2376.1

    (a) Definition and nature of advisory opinions. An advisory opinion is a written statement, issued pursuant to the provisions of this Part, applying the pertinent statutory and regulatory provisions of a tax administered by the Commissioner of Taxation and Finance to a specific set of facts. Advisory opinions are issued at the request of any person who is or may be subject to a tax or liability under the Tax Law or claiming exemption from such a tax or liability, and are binding upon the commissioner