57-18 Exhibit - Urging State of New Jersey to Implement Charitable Trust in Lieu of Local Taxes Plan.pdf

FEDERAL  TAX  TREATMENT  OF  STATE  CHARITABLE  TAX  CREDITS     due   to   the   decades   of   legal   precedent   supporting   the   Full   Deduction   Rule.   And   while   Congress   could   of   course   reject   those   legal   precedents   and   require   a   new   approach   through  changes  to  the  Internal  Revenue  Code,  the  policy  considerations  analyzed  above   should   give   Congress   pause   before   doing   so.   At   the   very   least,   lawmakers   should   think   carefully   about   administrability   concerns,   federalism   values,   and   the   practical   impact   on   the  more  than  one  hundred  existing  state  charitable  tax  credit  programs  in  33  states  before   upending  the  well-­‐settled  Full  Deduction  Rule.     Joe  Bankman,  Stanford  Law  School   David  Gamage,  Indiana  University  School  of  Law   Jacob  Goldin,  Stanford  Law  School   Daniel  Hemel,  University  of  Chicago  Law  School   Darien  Shanske,  UC  Davis  School  of  Law   Kirk  Stark,  UCLA  School  of  Law   Dennis  J.  Ventry,  UC  Davis  School  of  Law   Manoj  Viswanathan,  UC  Hastings  School  of  Law             21