Row 53372

Row ID: 53372 | Dataset Entry | Axioma AXP Content Repository

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A lot of people will confuse Moore v. US with a wealth tax, but there’s a very key distinction. The tax in question in Moore taxes foreign E&P that’s already been recognized at the corporate level, so its income instead of wealth. The tax just looks through the corporate form and imputes that taxation directly on the corporate shareholders.

We already have taxation that works that way (subchapter K, subchapter S, subpart F, etc), so it’s pretty different from an actual tax on wealth that hasn’t been recognized as income yet. And I imagine it’s a distinction that SCOTUS will point out in their ruling soon

FieldValue
text A lot of people will confuse Moore v. US with a wealth tax, but there’s a very key distinction. The tax in question in Moore taxes foreign E&P that’s already been recognized at the corporate level, so its income instead of wealth. The tax just looks through the corporate form and imputes that taxation directly on the corporate shareholders. We already have taxation that works that way (subchapter K, subchapter S, subpart F, etc), so it’s pretty different from an actual tax on wealth that hasn’…
label r/economics
dataType comment
communityName r/Economics
datetime 2024-05-22
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Raw Record

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  "text": "A lot of people will confuse Moore v. US with a wealth tax, but there’s a very key distinction. The tax in question in Moore taxes foreign E&P that’s already been recognized at the corporate level, so its income instead of wealth. The tax just looks through the corporate form and imputes that taxation directly on the corporate shareholders. \n\nWe already have taxation that works that way (subchapter K, subchapter S, subpart F, etc), so it’s pretty different from an actual tax on wealth that hasn’t been recognized as income yet. And I imagine it’s a distinction that SCOTUS will point out in their ruling soon",
  "label": "r/economics",
  "dataType": "comment",
  "communityName": "r/Economics",
  "datetime": "2024-05-22",
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Entry Information