References in periodicals archive ?
Although some tax advisers question the Constitutionality of a single sales factor in apportioning a net-worth tax, the courts, to date, have not provided guidance.
For the net-worth part of the tax, only Constitutional protections apply; see Decision of the Comptroller of Pub.
In view of the regressive nature of the net-worth method, TEI recommends that the alternative net-worth tax be repealed.
The net-worth method requires establishing a taxpayer's net worth at the start of a tax year by listing all assets (including cash on hand) and all liabilities, with the balance being the taxpayer's net worth.
Conducting a Lexis search to ascertain if a taxpayer purchased real estate would be useful when using the net-worth method.