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A like-kind exchange under United States tax law, also known as a 1031 exchange, is a transaction or series of transactions that allows for the disposal of an asset and the acquisition of another replacement asset without generating a current tax liability from the sale of the first asset. A like-kind exchange can involve the exchange of one ...
Alderson v. Commissioner, 317 F.2d 790 (9th Cir. 1963) [1] was a tax law case in which the United States Court of Appeals for the Ninth Circuit reversed the ruling of the United States Tax Court that an exchange of properties does not constitute a taxable sale under § 1031(a) of the Internal Revenue Code.
Under a race statute, whoever records first wins. Thus, if Oscar purports to sell a piece of land to Alice for $100,000, and the next day purports to sell exactly the same piece of land to Bob for another $100,000, then whichever of the two buyers is the first to reach the recording office and have the sale recorded will be deemed the owner of ...
The behavioral system redesign was made possible thanks to a law passed by the Wyoming Legislature in 2021, which redefined priority populations for behavioral health services. ... Wyoming Statute ...
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The JPML recognized the existence of the self-transfer procedure as early as 1972, and eventually endorsed that practice in its rules. In 1998, however, the U.S. Supreme Court brought self-transfers to a halt by ruling that the plain language of the MDL statute required remand back to the transferor for trial, and invalidated the JPML's rule.
1031(b) states when like-kind property and boot can be received. The gain is recognized to the extent of boot received. 1031(c) covers cases similar to those in 1031(b), except when the transaction results in a loss. The loss is not recognized at the time of the transaction, but must be carried forward in the form of a higher basis on the ...
The United States District Court for the District of Wyoming (in case citations, D. Wyo.) is the federal district court whose jurisdiction comprises the state of Wyoming and those portions of Yellowstone National Park situated in Montana and Idaho; [1] it is the only federal court district that includes portions of more than one state, creating a possible "Zone of Death" where it would be ...