From the Paper
"This research examines the taxation of distributions made by Subchapter S Corporations and the use of accumulated adjustment accounts by such corporations. These two topics are closely interrelated; however, they are discussed separately in this paper.

Taxation on Distributions
The form of business organization has a direct impact on the financial structure and financial performance of a firm. This impact results from differences in income tax liabilities for different types of business forms, and differences in the abilities of the different types of business to generate ..."

Abstract
This paper discusses introduction a flat tax reform in America's federal income tax law. To analyze the flat tax, the current income tax and the proposed flat tax structure is compared as well as a definition of progressive taxation. General points for and against a flat tax follow. A detailed flat tax piece of legislation prepared by United States Representative Dick Armey and United States Senator Richard Shelby are summarized and used as an example of a specific implementation of a flat tax. Finally the paper shows why a flat tax is more desirable than the current federal tax structure.

Outline:
Introduction
Flat Income Tax
Current Income Tax
Armey-Shelby Proposed Flat Income Tax
Tax Types
Progressive Tax
Definition
Example: Federal Income Tax Structure
Regressive Tax
Definition
Example: Social Security Tax
Current Income Tax
Problems
Complexity
Administration Cost
Increasing Tax Burden
Special Interest Lobbying
Flat Income Tax
"Ideal" Flat Tax
Armey-Shelby Tax Proposal
One Tax Rate
Simple Tax Form
No Tax on Savings
Elimination of Double Taxation
Zero Tax Bracket
Other Benefits
Other Definitions of Taxes
Consumption Tax
Sales Tax
Value-added Tax (VAT)
Wage Tax
Income Tax
Timing of Tax Collection
Best Choice - Flat Income Tax
Current Problem Solution
Ease of Administration
Encourage Savings and Investment

From the Paper
"There are two main reasons for mentioning that income is taxed "one time." Currently dividends paid to company stockholders are taxed both as profits for the company and dividend income for the individual who is paid the dividend. To eliminate this double taxation of dividends the company will pay corporate income taxes on its profits and the individual will not be liable for any taxes on the dividends he receives. A second reason is the elimination of taxing savings twice. If an individual puts a dollar from his paycheck that he has already paid income tax on in the bank, then any earnings on the savings is again taxed. Both of these situations inhibit savings and investment taking dollars out of the economy and recycling them through the federal government."

Tags:Dick, Armey, Richard, Shelby, progressive

Abstract
This paper discusses that business are taking undue advantage of favorable federal revenue policies. The paper points out that businesses are using government money to develop products that they then turn around and sell to the public at very high prices. The author feels that these advantages must be eliminated to support the common welfare of the country.

From the Paper
"One by one our leading business corporations are reeling under accounting scams. I need not mention how well such a giant corporation like "Enron" managed to disguise its financial information from the government and the stockholders. In the prevailing scenario I agree with the author that the government needs to exercise care before granting corporate privileges. Businesses are exploiting the loopholes in tax laws by clever manipulations. One such debatable issue is the "Foreign tax credit" scheme. The government of United States has lost billions of dollars from multinational corporations in the name of deductions for taxes paid to other nations. "

Tags:policy, scam, loophole, manipulation, deductions

Abstract
Compares the tax & legal advantages of three forms of organization for business companies. LLC (limited legal liability), LLP (limited liability partnership, & traditional S corporations. Examines changes in business law. Partnership laws. Small business. Bibliography includes laws, codes, regulations, statutes. Business law & law review articles.

From the Paper
"Corporate Liability
Introduction


Traditionally, businesses, other than sole proprietorships, considered three forms of organization: C corporation, S corporation and partnership.. However, during the 1970s, a form of organization known as a limited liability company (LLC) became available. Now, even more recently, the limited liability partnership (LLP) is also available. Generally, limited liability business structures allow two benefits: limited legal liability and pass through tax treatment.. This paper will consider the tax and legal advantages of the LLC and the LLP versus the more traditional S corporation.


Limited Liability Corporations
Beginning with Wyoming in 1977 and ending with the Hawaii legislature in 1996..."

Abstract
A comparison of the tax systems of four different countries to the American tax system - South Africa, Mexico, Hong Kong, and New Zealand. The paper explains the American tax system and then analyzes the systems of these other four countries. It concludes with an overview of the country which is seems to the fairest to both individuals and corporations.

From the Paper
"Hong Kong has a Schedular system of taxation. 0;The tax burden is light and the system is simple; (Taxation in Hong Kong) In this system the only types of income that are taxable are: salaries, profits, and property tax. This system of taxation differs from that of the United States in that 1. The system is simple and easy to understand. 2.Personal income tax rates are among the lowest in the world with a cap of 15%. 3. Corporations are only taxed at a flat rate of 16.5% and capitals gains and dividends received by another Hong Kong corporation are not taxed. 4. It does not have a worldwide tax on income."

Tags:Individual Income Tax Corporate Income Personal Tax GST taxes south africa, mexico hong kong new zealand

Abstract
This paper presents arguments supporting a tax-free zone and the arguments in opposition to a tax-free zone. It also looks at the current status of the law and shows which steps are required to resolve the issue.

From the Paper
"To begin the analysis of the situation, definition of some terms is necessary. When a transaction occurs between a seller and a buyer, the seller may be required to collect applicable state and local sales tax from the buyer. The requirement is based on whether or not the seller has a physical presence , referred to as nexus, in the state where the sale occurred. Examples of nexus would be a retail store or a warehouse in the state. The companies with a number of physical locations are generally referred to as brick-and-mortar entities. If the seller does not have nexus in the state, they are not required to collect sales tax. The buyer may be required by the state to pay a use tax to the state. Most mail order sellers and Internet, e-commerce, sellers have nexus in few states and localities. In many case they have only one location."

Tags:growth, sales, government, legislation, industry, federal, taxes, tax-free, zone

Abstract
This paper compares the aspects of free trade to that of protectionism and discusses the advantages and disadvantages of each.

From the Paper
"Capitalism is a global system organized nationally. Every discussion of the global economy must include reference to relations amongst national economies and states, generated through the uneven development of various constituencies and the tensions involved in integration and competition, and those involved in integration and assertions of sovereignty. (Monthly Review, July-August 1999.) Advocates of free trade argue that growing economic prosperity worldwide owes much to the increase and liberalization of trade. It encourages improved productivity, increased access to technology and better quality products and services. Between 1950 and 1998, global exports increased by a factor of 18, while global output increased six and a half times. This year, the growth in world trade is projected to increase by 6 to 7%, up from 4% in 1999-2000. (African Business, February 2001.) "

Tags:trade, finance, free, global, capitalism, economy, competition, globalization, production

Abstract
This paper explores the issues and history of corporate taxation. Corporations are taxed at a rate depending on their income. This paper discusses the pros and cons of dropping the corporate tax, the methods which can be used to drop or lower corporate taxes and why. The paper includes charts and statistics concerning corporate taxes.

Table of Contents

I. The Beginning of Corporate Income Tax
II. The 1986 Tax Reform Act
III. How Does Taxes Affect Business
IV. Corporate Tax Rates
V. Decline of the Corporate Income Tax
VI. Why the Wide Range Between State and Corporate Taxes
VII. How Does Corporate Tax Work with Multi-state Manufacturers?
VIII. Does the Corporate Tax Help
IX. Proposals of Corporate Income Tax
X. Need of Stimulus
XI. Future Research Concerning Corporate Taxes
XII. Conclusions
XIII. Works Cited

From the Paper
"Where did the corporate income tax begin? How does it affect our economy? What is the future of the corporate income tax? Will deleting corporate income tax be the answer for the economy? What about cutting part of this tax? How does the corporate income tax help the economy? These are questions that will be answered in this paper as well as how the corporate tax is affecting our economy now.
The Beginning of Corporate Income Tax

"How the corporate tax began is an example of why tax systems can be worse than they should be and how little influence the economic profession has on government policy (Norton 2). Sometimes ideals look great when they are not that sound. Corporate taxes were used during wartime until 1909, when Congress enacted a 1 percent tax on corporation income. The rate increased until 1932 to 12.5 percent when the rate was changed to the progressive rates. Norton stated, "Surtaxes on corporate income were added for "excess profits" during both world wars. The highest peacetime rate, 52.8 percent, was reached in the sixties" (2). "

Tags:corp, taxation, corporations, income, tax, reform, 1986, business, rate, decline, states, multi-state, manufacturers, stimulus

Abstract
A paper on accounting and tax software. The author examines the various programs available and states the functions available with each of them. He notes that although the accounting functions are good what really make these products exciting are the business management tools for creating customized reports and financial statements.

From the Paper
"Peachtree Complete offers all the standard accounting functions. It also includes a powerful job-costing function that lets you analyze job costs and track current job estimates. In addition, Peachtree offers tracking capabilities to keep tabs on back orders and partial shipments. This program can also alert you when inventory gets low or you're going over budget. The Administration section lets you manage tasks such as creating job descriptions and tracking sales reps and handling contact management. Peachtree has numerous easy-to-modify reports that let you analyze data and includes a form designer so you can create your own forms (Cavanah 1997)."

Tags:Peachtree, Quickbooks, ?, Cyma, IV, Maint, Turbotax, TaxAct, Abacus

Abstract
After beginning by acknowledging that complexity is a major problematic feature of modern tax legislation, this essay proposes that the issue of reducing complexity and increasing simplicity be the main benchmark against which three discussion areas - The Tax Law Rewrite Project, The Tax Structure Review Programme and Parliamentary Reform - be critically examined in order to assess the extent to which they have improved, or could potentially improve, the making of tax law.

Outline:
Abstract
The Tax Law Rewrite Project
Tax Structure Review Programme
Parliamentary Reform
Conclusion

From the Paper
The suggestion that tax law should be 'simple and certain' is by no means a recent one; indeed it was one of Adam Smith's well known canons of taxation in his Enquiry into the Wealth of Nations of 1776 that this should be so . In spite of this, increasing complexity over the years appears to have been the norm for tax legislation. But what is it that makes it 'complex'? Adam Broke identifies it as manifesting itself as four individual factors: diversity (that the range of taxes is so broad that no one can claim to have an in depth competence with them all); volume (with the physical number of pages that make up the annual finance act growing significantly each year); drafting (with legislation being expressed in a way that is - at best - "unhelpful to the reader"); and finally, language (with the legislation being full of words that are not a part of modern ordinary vocabulary).

Tags:legislation, finance, taxes, reform