Repeal Tax Incentives for Esops

5 Pages Posted: 3 Dec 2009

See all articles by Andrew Stumpff Morrison

Andrew Stumpff Morrison

University of Michigan Law School; University of Alabama Law School; Washington University in St. Louis - School of Law

Norman P. Stein

Drexel University Thomas R. Kline School of Law

Date Written: December 2, 2009


The proposal would repeal special tax incentives given to employee stock ownership plans, as well as the exemption granted to those plans from the investment diversification requirement of the ERISA.

The proposal is made as a part of the Shelf Project, a collaboration among tax professionals to develop - and perfect proposals to help Congress when it is ready to raise revenue. Shelf Project proposals are intended to raise revenue without raising rates because the best systems have the lowest feasible tax rates and taxes that are unavoidable. Shelf projects defend the tax base and improve the rationality and efficiency of the tax system.Alonger description of the Shelf Project is found at ‘‘The Shelf Project: Revenue-Raising Proposals that Defend the Tax Base,’’ Tax Notes, Dec. 10, 2007, p. 1077, Doc 2007-22632, or 2007 TNT 238-37.

Shelf Project proposals follow the format of a congressional tax committee report in explaining current law, what is wrong with it, and how to fix it.

Keywords: tax, ERISA, employee stock ownership plans

JEL Classification: H20

Suggested Citation

Morrison, Andrew Stumpff and Stein, Norman P., Repeal Tax Incentives for Esops (December 2, 2009). Tax Notes, Vol. 125, No. 3, pp. 337-340, October 19, 2009, The Shelf Project, Available at SSRN:

Andrew Stumpff Morrison (Contact Author)

University of Michigan Law School ( email )

625 South State Street
Ann Arbor, MI 48109-1215
United States

University of Alabama Law School

101 Paul W. Bryant Dr.
Box 870382
Tuscaloosa, AL 35487
United States

Washington University in St. Louis - School of Law ( email )

Campus Box 1120
St. Louis, MO 63130
United States

Norman P. Stein

Drexel University Thomas R. Kline School of Law ( email )

3320 Market Street
Philadelphia, PA 19104
United States

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