e$: The Book-Entry/Certificate Distinction

Mac Norton mnorton at cavern.uark.edu
Thu Aug 24 07:01:53 PDT 1995


Income tax, right--but may not this be correct about excise
taxes?

MacN

On Thu, 24 Aug 1995, Michael Froomkin wrote:

> On Wed, 23 Aug 1995, Alan Penny wrote:
> [snip]> 
> > This also has the interesting feature of avoiding all taxes. Until you
> > "cash out" your account you would not have to pay taxes, if you never
> > need cash out your account, you never need to pay taxes. I suspect that
> > our friendly governments would try to "correct" this "problem" in the
> > long run if they can.
> > 
> Nyet.  Any time you barter A for B, even electronically, you have a 
> taxable event.  All you have done in the above is describe a system in 
> which it is harder to detect the taxable event.
> 
> A. Michael Froomkin        | +1 (305) 284-4285; +1 (305) 284-6506 (fax)
> Associate Professor of Law | mfroomki at umiami.ir.miami.edu
> U. Miami School of Law     | 
> P.O. Box 248087            | It's hot here.  And humid.
> Coral Gables, FL 33124 USA |
> See (experimentally & erratically) http://viper.law.miami.edu/~mfroomki
> 
> 






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