New York’s Proposed Mark-to-Market Tax Decouples From Federal Tax

99 Tax Notes State 794 (2/22/21); 170 Tax Notes Federal 1243 (2/22/21)

Saint Louis University School of Law Legal Studies Research Paper Series, 2021-18

9 Pages Posted: 2 Feb 2021 Last revised: 20 May 2021

See all articles by Henry Ordower

Henry Ordower

Saint Louis University - School of Law

Date Written: February 1, 2021

Abstract

A proposal decouples NY from federal tax computations to tax billionaires on unrealized appreciation. If enacted, the proposal generates basis discontinuities across borders but enhances state revenue and may prove attractive to many states. The article reviews how states seek to enhance revenues and considers issues of cross-border taxation and the fundamental right to travel.

Keywords: taxation, state taxation, realization, recognition, revenue enhancement

JEL Classification: K34, H20, H24, H71, H72, H77

Suggested Citation

Ordower, Henry, New York’s Proposed Mark-to-Market Tax Decouples From Federal Tax (February 1, 2021). 99 Tax Notes State 794 (2/22/21); 170 Tax Notes Federal 1243 (2/22/21), Saint Louis University School of Law Legal Studies Research Paper Series, 2021-18, Available at SSRN: https://ssrn.com/abstract=3775207 or http://dx.doi.org/10.2139/ssrn.3775207

Henry Ordower (Contact Author)

Saint Louis University - School of Law ( email )

100 N. Tucker Blvd.
St. Louis, MO 63101
United States

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