Document Type

Article

Publication Date

12-1961

Keywords

Knetsch v. United States, Business-purpose doctrine

Disciplines

Business Organizations Law | Taxation-Federal | Tax Law

Abstract

The aims of this article are: (1) to define the nature and significance of the business-purpose doctrine as applied in the field of Federal income taxation; (2) to summarize several considerations that support abandonment of the doctrine; and (3) to consider whether a substitute doctrine is needed. Several recent cases indicate that the influence of the business-purpose doctrine is declining, and in the recent case of Knetsch v. United States the Supreme Court appears to have substituted an alternative doctrine. The dual thesis of the present article is that the business-purpose doctrine ought to be abandoned and that there is no need for a substitute.

Comments

This article predates the author's affiliation with Cornell Law School.

Publication Citation

Published in: Oregon Law Review, Vol. 41, No. 1 (December 1961).

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