§12 — Cross references relating to tax on corporations

Consistent with this legislative scheme, the regulations carefully distinguish "deemed dividends" under sections 551 and 1248 from "deemed inclusions" under section 951(a).

Although section 1 .1272-1(b)(1)(ii) and (4),(iii), Income Tax Regs ., provides reasonableness standards for computing .the length of accrual periods and the amount of OID allocable to the initial accrual periods, section 1 .1272-1(b)(2)(i), Income Tax Regs ., provides that paragraph (b)(1) does not apply to debt instruments subject to section 1272(a)(6) .

§ 12:1311 (2007), while section 1312 provides that the articles of organization can require that the LLC be managed by “one or more managers who may, but need not, be members.” La.

§ 78u(d)(2)], for five (5) years from the date of entry of the Final Judgment, from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act [15 U.S.C.

The partnership agreement provides that the partnership will continue to exist until December 31, 2040, unless the partnership is terminated earlier pursuant to section 12.2 of the partnership agreement.

12 .02(a), COB also stated : Additional Requirements Pursuant to Section 12 .02 of ev .

Alcon [P.R.] shall take reasonable - 62 - precautions to preserve the physical condition of the Equipment, and upon the termination of this Agreement pursuant to Section 12, shall return the Equipment to MedChem [P.R.] in good working order and in the same condition (taking into account normal wear and tear) as it was initially provided to Alcon [P.R.].

Section 12 of the note provided: 12. Relationship of Lender and Borrower as Creditor and Debtor Only. The relationship between Lender and Borrower is solely that of creditor and debtor and alternate forms of structuring the extension of credit, as well as alternate sources of financings, were available to Borrower and Borrower choose, however to pr

the sale-resulted gain that is taxable to them- unless some .part of the gain is excluded under section 121(a) . Accordingly, we hold that respondent's determination-is entitled to the presumption,o f correctness .and that . petitioners have the burden of proof . 10Petitioners .do not contend that sec.. 7491(a) shifts the burden of proof to respondent, and petitioners have no t established that the requirements of .sec . 74"91(a) have beenmet . Moreover, . because there areno factual issues in-d

12, 1998-2 C.B. 759, 786, provided procedures by which taxpayers could receive “automatic consent” to change their method of accounting for pools of credit card receivables in accordance with section 1272(a)(6)(C). Under the revenue procedure, automatic consent was achieved by filing Form 3115 with a taxpayer’s return. Id. sec. 6.02, app. sec.

12, 1998-2 C.B. 759, 786, provides procedures by which taxpayers may receive “automatic consent” to change their method of accounting for pools of credit card receivables in accordance with section 1272(a)(6)(C). Under the revenue procedure, automatic consent is achieved by filing Form 3115 with a taxpayer’s return. Id. sec. 6.02, app. sec.( 1

Commissioner , 126 T .C . 205, 211-212 (2006), on appeal to the U .S . Court of Appeals for the Fifth Circuit, the Court recently rejected the argument that the capital loss limitations of sections 1211 and 1212 do not apply for purposes of calculating a taxpayer's AMTI . In so holding, we cited section 1 .55-1(a), Income Tax Regs ., which states in pertinent part that, except as otherwise provided : "[A)11 Internal Revenue Code provisions that apply in determining the regular taxable income of

her Petitioner’s Rights in His MGC Shares Were Subject to a Substantial Risk of Forfeiture Within the Meaning of Section 83(c)(3) Section 16(a) of the Exchange Act requires the principal stock holders of any class of equity security registered under section 12 of the Exchange Act, and the directors and officers of the issuer of such securities (hereinafter insiders), to file periodic statements with the SEC disclosing the amount of equity securities such insider owns, and purchases and sales mad

Alcon [P.R.] shall take reasonable precautions to preserve the physical condition of the Equipment, and upon the termination of this Agreement pursuant to Section 12, shall return the Equipment to MedChem [P.R.] in good working order and in the same condition (taking into account normal wear and tear) as it was initially provided to Alcon [P.R.].

section 183 and that therefore petitioners are entitled to deduct the Schedule C loss that they are claiming for 1993. Section 183 allows only specified deductions unless an activity is engaged in for profit. Section 183(c) defines an 4 We note that sec. 12.9(a) and (b), Temporary Income Tax Regs., 39 Fed. Reg. 9947 (Mar. 15, 1974), generally permits a taxpayer to elect to postpone a determination by respondent with respect to whether the presumption described in sec. 183(d) applies to an activi

§§ 12-4-40 through 12-4-84 (2016), as amended, and Rules & Regulations for Surface Mining, and (6) Jones County Ordinance Appendix A—Comprehensive Land Development. He also visited the Subject Properties in September 2022. Mr. Sullivan provided information about the mining industry’s process and standards that are applicable for evaluating whether a

Agreement provided in relevant part that Infotelecom and BV Holding “acknowledge that under the Bankruptcy Code, this Agreement and the sale of the Acquired Assets are subject to Bankruptcy Court approval through confirmation of a Chapter 11 Plan.” Section 12.8 of the Asset Purchase Agreement provided in relevant part that “[t]his Agreement and the exhibits, schedules, and other documents referred to herein constitute the entire agreement of the parties with respect to the subject matter hereof

§ 12-201(a) (West 2024). “For individuals related closely by blood or law, a substantial interest engendered by love and affection is an insurable interest.” Id. subsec. (b)(2)(i). Further, [t]he trustee of a trust has an insurable interest in the life of an individual insured under a life insurance policy owned by the trust or the trustee of a tru

at 244 (general effective date is three months after approval of APA); 60 Stat. at 244 (APA approved June 11, 1946). Section 12 of the APA, 60 Stat. at 244,83 provided that no subsequent legislation would supersede the APA unless it did so expressly. Section 3(a) of the APA84 required each federal agency to “separately state and c

Pool Boy’s operating agreement reiterates the members’ protected status. The operating agreement states: “No Member, by virtue of his or its status as a Member, shall be bound by or be personally liable . . . for the debts, obligations, liabilities or contracts of the Company.” The operating agreement provides that with the except

Section 12 of the Residence Agreement defines the Deferred Fee and calculates it as a percentage of the Contribution Amount. Section 12.5 states: “If this Agreement is terminated under Section 12.2 or 12.4.2, you or your estate shall pay Continuing Life Communities a Deferred Fee according to the following schedule:” 6 [*6] Time Elapsed After the

163 (1952),] as impliedly exempting deportation hearings from the procedures of the [APA], despite the requirement in § 12 of the APA that “[n]o subsequent legislation shall be held to supersede or modify the provisions of this Act except to the extent that such legislation shall do so expressly,” 60 Stat.

Moore et al., Moore’s Federal Practice § 12.30[3], at 12-50.2(11) (3d ed.

at 1006 (adding sections 951- 964).5 Section 951 provides that a U.S.

§§ 12:1-622.B, 12:1303.A." We assume correct the Commissioner's analysis ofLouisiana law in that a member ofan LLC is not ordinarily liable for the debts ofthe LLC--nor is a shareholder personally liable for debts ofhis corporation. See Bridges v. AutoZone Props., Inc., 900 So. 2d 784, 797 (La. 2005). But Mr. Bordelon became liable for Many LLC's de

§§ 12:1-622.B, 12:1303.A." We assume correct the Commissioner's analysis ofLouisiana law in that a member ofan LLC is not ordinarily liable for the debts ofthe LLC--nor is a shareholder personally liable for debts ofhis corporation. See Bridges v. AutoZone Props., Inc., 900 So. 2d 784, 797 (La. 2005). But Mr. Bordelon became liable for Many LLC's de

at 1006, subpart F was added to the Code. Vetco, Inc. & Subs. v. Commissioner, 95 T.C. 579, 585 (1990). Under this statutory scheme, a U.S. ¹²Respondent does not seek to change the timing ofthe wage income from 2007 to 2008. ¹³In the light ofour holding we need not address respondent's alternative position as to the amounts distri

at 1006 (adding sections 951- 964).5 Section 951 provides that a U.S.

§§ 12:1-622.B, 12:1303.A." We assume correct the Commissioner's analysis ofLouisiana law in that a member ofan LLC is not ordinarily liable for the debts ofthe LLC--nor is a shareholder personally liable for debts ofhis corporation. See Bridges v. AutoZone Props., Inc., 900 So. 2d 784, 797 (La. 2005). But Mr. Bordelon became liable for Many LLC's de

s. - 24 - Even ifsection 962 were thought ambiguous, the legislative history does not provide meaningful assistance to petitioners. Section 962 was added to the Code as part ofthe original subpart F regime. Revenue Act of 1962, Pub. L. No. 87- 834, sec. 12, 76 Stat. at 1006. At that time individuals were taxed at marginal rates as high as 91%.8 The Senate Finance Committee explained that the purpose ofsection 962 was to avoid what might otherwise be a hardship in taxing a U.S. indi- vidual at hi

il the history ofthe subject regulations. A. Relevant Legislative History and Administrative Record 1. Revenue Act of 1962 Treasury promulgated the regulations at issue following the passage ofthe Revenue Act of 1962 (1962 Act), Pub. L. No. 87-834, sec. 12, 76 Stat. at 1006, which enacted sections 951 and 956 as part ofsubpart F ofpart III, subchapter N, chapter 1 ofthe 1954 Code (subpart F) as amended. Pursuant to section 951(a)(1)(B) U.S. shareholders were required to include in gross income t

12-43.3-103(b)(2) (2010). Anticipating this 70% requirement, Altermeds, LLC, began renting a warehouse in June 2010 to grow its own marijuana. The warehouse, which was in Boulder, was referred to as the "grow site". When Altermeds, LLC, first rented the warehouse, the warehouse needed modifications before it could produce marijuana. Altermeds,

12-2-8(b) (2018). Champions Retreat also contends that it made this contribution pursuant to Columbia County's implementation ofthe Georgia Greenspace Program. We conclude that the Georgia statute cited by Champions Retreat does not support an "identified conservation project", nor is there evidence that the Greenspace Program designated the e

Although the purchase agreement was executed simultaneously with the agreement and promissory note in the record, petitioners (continued...) -10- [*10] Edwin Watts' Initial Capital Account as $7,945,000, with no provision for any increase or diminution thereof.9 The Preferred Payment and Retirement Obligations Section 12.1 ofthe agreement entitled the preferred partners to receive PPOs, which were annual guaranteed payments of8.4% on the PROs.

12-401(a) (West 2008). Thus, the statute would have required apportionment to the donee ofthe 1988 gift only ifthe transferred property had been included in the decedent's gross estate. The court's recitation ofthe facts gives no indication that the decedent retained an interest in that property, such as a life estate, that would have required

12.9(c), Temporary Income Tax Regs., 39 Fed. Reg. 9947 (Mar. 15, 1974); see sec. 183(e)(3). Mr. Stettner first engaged in AJS in 2011, and therefore petitioners timely filed Form 5213. Petitioners reported income in excess ofdeductions for AJS on Schedules C for 2013-15, but we find that AJS had net losses ofat least $2,260 and $754 for 2013 a

Although the purchase agreement was executed simultaneously with the agreement and promissory note in the record, petitioners (continued...) -10- [*10] Edwin Watts' Initial Capital Account as $7,945,000, with no provision for any increase or diminution thereof.9 The Preferred Payment and Retirement Obligations Section 12.1 ofthe agreement entitled the preferred partners to receive PPOs, which were annual guaranteed payments of8.4% on the PROs.

lished opinion, 322 N.E.2d 272 (N.Y. 1974); Banach v. Home Gas Co., 199 N.Y.S.2d 858 (Sup. Ct. 1960), afÕl, 211 N.Y.S.2d 443 (App. Div. 1961);9 see also Philip Weinberg, et al., 9A N.Y. Practice Series - Environmental Law and Regulation in New York, sec. 12.3 (2016 update to the 2d ed.) ("Restricting property through the use of deed covenants has several limitations, both legal and practical. * * * As discussed above, ifthe grantor retains no land, or disposes ofthe remaining land, the right to

s. See Abrams v. Commissioner, 82 T.C. 403, 408 (1984). He must show that the pleadings do not raise a genuine issue ofmaterial fact and that he is entitled to ajudgment as a matter oflaw. M id.; see also 2 James Wm. Moore, Moore's Federal Practice, sec. 12.38, at 12-139 (3d ed. 2015) ("Judgment on the pleadings should be granted ifthe movant 'is entitled to judgment as a matter oflaw.'" (quoting Burns Int'l Sec. Servs., Inc. v. Int'l Union United Plant Guard Workers, Local 537, 47 F.3d 14, 16 (

12-37-220(B)(3) (2014), which is applicable to private passenger vehicles owned or leased by a disabled veteran. Finally, petitioner attached copies ofsubstitute Forms 1098 for 2008 and 2009 that reported the net interest petitioner had paid on the mortgage loan on his property at 212 Luther Drive, Gaston, South Carolina. IRS Inquiry and Petit

d disbursed by the General Partner for the purposes specified in this agreement. b. No Commingling ofFunds Partnership funds shall not be commingled with other funds. * * * * * * * Article Twelve Transfer ofPartnership Interests by a Limited Partner Section 12.01. Restrictions on Transfer Except as provided in this Article, a Limited Partner is prohibited from selling, assigning, transferring, mortgaging, pledging, encumbering, hypothecating or otherwise disposing of(collectively hereinafter ref

12-104(g) (LexisNexis 2016), which provides: - 39 - (g) Land over which easement donated to Maryland Historical Trust or Maryland Environmental Trust.--Ifany easement in gross or other right to restrict use ofland or any interest in land has been donated to the Maryland Historical Trust or the Maryland Environmental Trust, damages shall be aw

12-1202 for a private right ofway ofnecessity. It also argues that gaining recognition ofthis legal access wouldn't have been terribly expensive. - 36 - We begin with some vocabulary from first-yearproperty law: An easement is a right that one person has in the estate ofanother. Laurence v. Kruckmeyer, 605 P.2d. 466 (Ariz. Ct. App. 1979); see

12.284 (West 2003 & Supp. 2015). Individuals must pay the superior court clerk fees for various case filings, petitions, writs, the filing ofany documents, and the issuance ofany licenses or certificates. R The county does not, however, receive fees paid for wedding ceremonies--judges are allowed to collect those directly (although Judge Jones

A dissolution provision in the partnership agreement, section 12.2, provided that iftwo-thirds ofthe limited partners agreed (as measured by percentage interest), then the partnership would be dissolved, its assets sold, and the proceeds distributed to the partners.

12, 2014-2 I.R.B. at 291. This revocation might be retroactive ifthe organization "omitted or misstated a material fact" in its application materials, "operated in a manner materially different from that originally represented," or engaged in improper transactions. E sec. 12.01, 2014-2 I.R.B. at 291-292. "In the case ofa revocation or modifica

12- 552(A) (2003) (West). Colorado and California statutes contain similar language. Cal. Civ. Proc. Code sec. 337.15(a), (g) (West 2006); Colo. Rev. Stat. sec. 13-80-104(1)(a) (2013). The California statute defines "substantial completion" to mean the first occurrence of: "(1) The date offinal inspection by the applicable public agency. (2) T

12- 552(A) (2003) (West). Colorado and California statutes contain similar language. Cal. Civ. Proc. Code sec. 337.15(a), (g) (West 2006); Colo. Rev. Stat. sec. 13-80-104(1)(a) (2013). The California statute defines "substantial completion" to mean the first occurrence of: "(1) The date offinal inspection by the applicable public agency. (2) T

12- 552(A) (2003) (West). Colorado and California statutes contain similar language. Cal. Civ. Proc. Code sec. 337.15(a), (g) (West 2006); Colo. Rev. Stat. sec. 13-80-104(1)(a) (2013). The California statute defines "substantial completion" to mean the first occurrence of: "(1) The date offinal inspection by the applicable public agency. (2) T

12-552(A) (2003) (West). Colorado and California statutes contain similar language. Cal. Civ. Proc. Code sec. 337.15(a), (g) (West 2006); Colo. Rev. Stat. sec. 13-80-104(l)(a) (2013). The California statute defines “substantial completion” to mean the first occurrence of: “(1) The date of final inspection by the applicable public agency. (2) T

Section 12 ofthe emplo ment agreement stated that the employee's ownership ofUMLIC S-Corp. s ares "shall be governed by * * * [the RSA] entered into simultaneously * * * [and] incorporated herein by reference." The stated purpose ofthe e agreements was to incentivize petitioners to exchange their UMLIC interests for UMLIC S-Corp. stock and require

Section 12.02 ofthe Holdings Agreementprovides rules for the dissolution ofCrescent Holdings. Section 12.02(c)(i) provides that the proceeds ofthe sale of Crescent Holdings and its assets shall be distributed in the following order of priority: (1) the satisfaction ofthe debts and liabilities ofCrescent Holdings; (2) the satisfaction ofthe expenses

Under section 12 ofthe 2003 settlement agreement, Boone and Mr. Tankersley agreed to dismiss pending civil lawsuits against Tucson. Although Boone filed the civil lawsuits against Tucson, Tucson also filed an answer and a counterclaim against petitioner. Section 12 ofthe 2003 settlement agreement thus benefited petitioner in two ways: (1) the dismissal o

tical forces that influence propertyvalues in New York City. On the basis ofthe lot's location in an R9X zoning district, permitting a "floor area ratio"2 (FAR) of9.0 for residential property, Mr. Ehrmann calculated 2New York, N.Y. Zoning Resolution sec. 12-10 (2011) provides the following definition for "floor area ratio": "Floor area ratio" is the total floor area on a zoning lot, divided by the lot area ofthat zoning lot. Iftwo or more buildings are located on the same zoning lot, the floor a

Section 12 of the employment agreement stated that the employee’s ownership of UMLIC S-Corp. shares “shall be governed by * * * [the RSA] entered into simultaneously * * * [and] incorporated herein by reference.” The stated purpose of these agreements was to incentivize petitioners to exchange their UMLIC interests for UMLIC S-Corp. stock and requi

12:148(C) (2010); see also Grubbs v. Gulf Intl. Marine, Inc., 13 F.3d :168, 172 (5th Cir. 1994). In Mayfair Sales,.Inc. v. Sams, 339 So. 2d 1277, 1279 (La. Ct. App. 1976), the court of appeal of Louisiana explained: The purpose of * * * [La. Rev. Stat. Ann. sec. 12:148(C)] is to allow for the extension of corporate existence to finalize litiga

12(a) (1), 123 Stat. 2991. Mr. Conner contends that he as guardian purchased the home from himself in his .individual capacity, such that Emilio is eligible for the FTHBC. Respondent contends that the purchase of the home by Mr. Conner in his individual capaci y from Mr. and Mrs. Rodriguez lacks economic substance and that as a result of the

d Partnership Act of 1976 provided that a "limited partner" would lose his limited liability protection (continued...) - 18 - limited partner in a limited partnership is generally akin to that of a passive investor. See 3 Bromberg & Ribstein, supra sec. 12.01(a), (1988). In contrast, all partners of an L.L.P. enjoy limited liability protection and -may have management powers. 1 Bromberg & Ribstein,. supra sec. 1.01(b) (5) (2005-1 Supp.). In essence, an L.L.P. is a general partnership that afford

20,000 square feet of floor area has a floor area ratio of 2.0, and a zoning lot of 20,000 square feet with two buildings containing a total of 40,000 square feet of floor area also has a floor area ratio of 2.0). New York, N.Y., Zoning Resolution sec. 12-10 (2011). 'Respondent accepts those numbers as accurate for purposes of these motions. regarded as severable from the land owne ship and transferable by their owners. * * * The appraisal report then describes different aspects of transferable

d Partnership Act of 1976 provided that a "limited partner" would lose his limited liability protection (continued...) - 18 - limited partner in a limited partnership is generally akin to that of a passive investor. See 3 Bromberg & Ribstein, supra sec. 12.01(a), (1988). In contrast, all partners of an L.L.P. enjoy limited liability protection and -may have management powers. 1 Bromberg & Ribstein,. supra sec. 1.01(b) (5) (2005-1 Supp.). In essence, an L.L.P. is a general partnership that afford

be] fully paid and assessable”, which, in effect, supersedes sec. 7.6 of the LLC operating agreement to the extent that it provides that that agreement “shall not be construed as creating a [capital account] deficit restoration obligation”. See also sec. 12.3 of the LLC operating agreement, which limits the distribution of assets, on the dissolution of the LLC, “to Members in accordance with positive Capital Account balances”. - 49 - coincidentally, mirrored the split under the assignment and as

PIUMPP Article IV, Section 12, AMOUNT AND COMMENCEMENT OF DISABILITY BENEFIT, provides: 3PIUMPP sec.

PIUMPP Article IV, Section 12, AMOUNT AND COMMENCEMENT OF'DISABILITY BENEFIT, provides : 3PIUMPP sec .

12:81C(6)(a) (1994): [N]otice of meetings of the board shall be given as provided in the articles or bylaws. If not so provided: (i) Regular meetings of the board may be held without notice of the date, time, place, or purpose of the meeting, provided that the date, time, and place are fixed by the board or are determinable pursuant to the art

12.101(a)(3) (Vernon 1996). Petitioner so applied and on May 14, 1998, obtained from the Texas State Board of Education (SBOE) the requested open-enrollment charter.2 The charter, in accordance with applicable State law, imposed upon petitioner conditions related to its operations, including rules to require compliance with generally accepted

Conflict of Interest This factor examines whether a relationship exists between the company and the employee which may permit the company to disguise nondeductible corporate distributions as section 12 See Vitamin Vill., Inc.

12.9(c)(1) and (2), Temporary Income Tax Regs., 39 Fed. Reg. 9948 (Mar. 15, 1974). Petitioner claims that the tax assessments for the years 1990 and 1991 are barred by the 3-year statute of limitations under section 6501(a) and that the lien regarding those assessments is therefore invalid because the Form 5213 he submitted to respondent is in

scribed for filing the document or making the payment. * * * If the postmark on the envelope is made by the U.S. Postal 11(...continued) this paragraph (c)(1)(iii)(B) will be determined solely by applying the rule of paragraph (c)(1)(iii)(A) of this section. 12Even if we proceeded on the alternative assumption that a private postmark, when accompanied by an illegible U.S. postmark, is not disregarded, we would reach the same result, for petitioner has offered no proof of the date on which the In

chanism by which a creditor seeks - 7 - recognition (or, in bankruptcy parlance, “allowance”) of his claim for purposes of sharing in the distribution of estate assets as part of the bankruptcy proceeding. See 3 Cowans, Bankruptcy Law and Practice, sec. 12.5(a), at 247 (7th ed. 1998). There is no requirement that a creditor file a proof of claim; that is, some creditors may seek recovery outside of the normal estate distribution procedure. See 11 U.S.C. sec. 501(a) (2000) (creditor “may” file a

We turn next to petitioners’ position regarding respondent’s failure to abate penalties under section 6404.13 The record does not establish that petitioners raised at their Appeals Office hearing respondent’s failure to abate penalties under section 12(...continued) lished that petitioners raised at their Appeals Office hearing respondent’s failure to abate interest under sec.

Subject to the adjustments set forth in Section 12 hereof, the “purchase price” of the Stock shall be Eight Million ($8,000,000.00) Dollars in the aggregate, which shall be paid as follows: (a) $3,000,000.00 to each Seller in cash or immediately available funds; and (b) $1,000,000.00 to each Seller in 10- year promissory notes (collectively referred to hereinafter as the “Notes”) substan

12-568-5(d) and (e) (1993).] The Division was authorized to, and did, fund its LOTTO obligations through the periodic purchase of commercial annuities. The Division was named as owner of these contracts, and all payments made thereunder were remitted to the State. No specific prizewinner was either a party to or a named beneficiary of the annu

To curtail that practice, Congress added subpart F to the Code by way of section 12 of the Revenue Act of 1962, Pub.

12-568-5(d) and (e) (1993).] The division was authorized to, and did, fund its LOTTO obligations through the periodic purchase of commercial annuities. The division was named as owner of these contracts, and all payments made thereunder were remitted to the State. No specific prizewinner was either a party to or a named beneficiary of the annu

adings. See Abrams v. Commissioner, 82 T.C. 403, 408 (1984). He must show that the pleadings do not raise a genuine issue of material fact and that he is entitled to a judgment as a matter of law. See id.; see also 2 Moore, Moore’s Federal Practice, sec. 12.38, at 12-102.1 (3d ed. 2000) (“Judgment on the pleadings should be granted if the movant ‘is entitled to judgment as a matter of law’”, quoting Burns Intl. Sec. Servs. v. International Union United Plant Guard Workers, Local 537, 47 F.3d 14,

the duration of the payments by - 31 - agreement. See In re Riconda, 688 N.E.2d 248, 251 (N.Y. 1997) (“Generally, the obligation to make maintenance payments terminates upon the death of either party”); 2 Foster et al., Law and the Family New York, sec. 12:57 (2d ed., 1988 & Supp. 1999); 4 New York Civil Practice: Matrimonial Actions, sec. 51.02[6] (1998).13 Because there is nothing in the record to indicate that Harvey had agreed or was otherwise obligated to make the payments required by the J

adings. See Abrams v. Commissioner, 82 T.C. 403, 408 (1984). He must show that the pleadings do not raise a genuine issue of material fact and that he is entitled to a judgment as a matter of law. See id.; see also 2 Moore, Moore’s Federal Practice, sec. 12.38, at 12-102.1 (3d ed. 2000) (“Judgment on the pleadings should be granted if the movant ‘is entitled to judgment as a matter of law’”, quoting Burns Intl. Sec. Servs. v. International Union United Plant Guard Workers, Local 537, 47 F.3d 14,

the duration of the payments by - 31 - agreement. See In re Riconda, 688 N.E.2d 248, 251 (N.Y. 1997) (“Generally, the obligation to make maintenance payments terminates upon the death of either party”); 2 Foster et al., Law and the Family New York, sec. 12:57 (2d ed., 1988 & Supp. 1999); 4 New York Civil Practice: Matrimonial Actions, sec. 51.02[6] (1998).13 Because there is nothing in the record to indicate that Harvey had agreed or was otherwise obligated to make the payments required by the J

adings. See Abrams v. Commissioner, 82 T.C. 403, 408 (1984). He must show that the pleadings do not raise a genuine issue of material fact and that he is entitled to a judgment as a matter of law. See id.; see also 2 Moore, Moore’s Federal Practice, sec. 12.38, at 12-102.1 (3d ed. 2000) (“Judgment on the pleadings should be granted if the movant ‘is entitled to judgment as a matter of law’”, quoting Burns Intl. Sec. Servs. v. International Union United Plant Guard Workers, Local 537, 47 F.3d 14,

Tax Reform Acts of 1962 and 1976 Subpart F was added to the Internal Revenue Code of 1954 by section 12 of the Revenue Act of 1962, Pub.

12(a) Second, 39 Stat. 756, 768; Revenue Act of 1918, ch. 18, sec. 234(a)(10), 40 Stat. 1057, 1079; see also Commissioner v. Standard Life and Accident Ins. Co., supra at 152; Union Cen. Life Ins. Co. v. Commissioner, 77 T.C. 845, 849-850 (1981), vacated and remanded on another issue 720 F.2d 420 (6th Cir. 1983). By 1921, Congress recognized t

12:57 (West 1994), a legend appears on each of the outstanding stock certificates of Marrero - 9 - Land, which restates the substance of the restrictions on the transfer of the Company's stock that are contained in amended article VI. No appraisal of the Marrero Land stock was obtained prior to the adoption in 1980 of amended article VI. That

Tax Reform Acts of 1962 and 1976 Subpart F was added to the Internal Revenue Code of 1954 by section 12 of the Revenue Act of 1962, Pub.

In order to escape the broad reach of that term, and the resulting classification as a capital gain or capital loss, petitioner's sales not only must have been "in the ordinary course of his trade or business", but must have been "to customers" as well.12 In fact, the phrase "to customers" was expressly added to the predecessor of section 12 Petitioner, citing Corn Prods.

In order to escape the broad reach of that term, and the resulting classification as a capital gain or capital loss, petitioner's sales not only must have been "in the ordinary course of his trade or business", but must have been "to customers" as well.12 In fact, the phrase "to customers" was expressly added to the predecessor of section 12 Petitioner, citing Corn Prods.

On March 3, 1994, the Commissioner mailed them a notice of deficiency reflecting a determination that the Johnsons' 1990 taxable income was increased by $297,299 on account of a taxable transfer of property from Systems under section 83.12 The notice also stated that the Johnsons were liable for a $16,794 accuracy-related penalty under section 12 The notice also increased the Johnsons' 1990 income by $184,099 on account of "Agreed Items".

The General Explanation states at 86 that section 12 Under sec.

On March 3, 1994, the Commissioner mailed them a notice of deficiency reflecting a determination that the Johnsons' 1990 taxable income was increased by $297,299 on account of a taxable transfer of property from Systems under section 83.12 The notice also stated that the Johnsons were liable for a $16,794 accuracy-related penalty under section 12 The notice also increased the Johnsons' 1990 income by $184,099 on account of "Agreed Items".

On March 3, 1994, the Commissioner mailed them a notice of deficiency reflecting a determination that the Johnsons' 1990 taxable income was increased by $297,299 on account of a taxable transfer of property from Systems under section 83.12 The notice also stated that the Johnsons were liable for a $16,794 accuracy-related penalty under section 12 The notice also increased the Johnsons' 1990 income by $184,099 on account of "Agreed Items".

On March 3, 1994, the Commissioner mailed them a notice of deficiency reflecting a determination that the Johnsons' 1990 taxable income was increased by $297,299 on account of a taxable transfer of property from Systems under section 83.12 The notice also stated that the Johnsons were liable for a $16,794 accuracy-related penalty under section 12 The notice also increased the Johnsons' 1990 income by $184,099 on account of "Agreed Items".

ts permit the Commissioner broad discretion in this area, requiring only that the estimate be rational "'in logic and in light of normal business experience.'" Rowell v. Commissioner, supra at 1087 (quoting 2 Mertens, Law of Federal Income Taxation, sec. 12.108, at 443 (1989 rev.)). As the Court of Appeals for the Ninth Circuit explained in Bradford v. Commissioner, 796 F.2d 303, 306 (9th Cir. 1986) (quoting Webb v. Commissioner, 394 F.2d 366, 373 (5th Cir. 1968), affg. T.C. Memo. 1966-87), affg

stment of the proceeds. It is a fundamental principle of state and municipal bond law that the issuing body must have a legitimate, independent purpose to sell debt instruments in order to raise moneys. L. Jones, THE LAW OF BONDS AND BOND SECURITIES §12 (1950). If no such purpose exists, the issuance would be violative of local law, and should not qualify for the tax exemption that Section 103 provides for validly issued municipal and state bonds. * * * The steps in the analysis would be along t

stment of the proceeds. It is a fundamental principle of state and municipal bond law that the issuing body must have a legitimate, independent purpose to sell debt instruments in order to raise moneys. L. Jones, THE LAW OF BONDS AND BOND SECURITIES §12 (1950). If no such purpose exists, the issuance would be violative of local law, and should not qualify for the tax exemption that Section 103 provides for validly issued municipal and state bonds. * * * The steps in the analysis would be along t