Saving the green: who should pay for environmental cleanup costs?
Article Abstract:
IRS Revenue Ruling 94-38 is contrary to sound tax policy and inconsistent with established tax law that had required environmental clean-up costs to be capitalized. In Ruling 94-38, the IRS reversed a prior ruling and found that the expenses were currently deductible. In coming to this conclusion, the IRS ignored the requirement that the repairs be incidental to be deductible. This ruling is flawed from a policy perspective because it provides polluters with a tax incentive to do something that they are legally required to do while burdening all taxpayers with a share of the costs.
Publication Name: The Journal of Corporation Law
Subject: Law
ISSN: 0360-795X
Year: 1995
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The new paradigm: ISO 14000 and its place in regulatory reform
Article Abstract:
The ISO 14,000 environmental management system (EMS) standards have shifted the environmental protection paradigm away from command-and-control and toward self-regulation, monitoring and compliance. These EMS standards were developed by both regulators and businesses and offer industry the flexibility to develop methods of compliance that are cost-effective. The interest in compliance and self-auditing by business has resulted from increased market pressure to become more green. Businesses have found environmental compliance to enhance their competitive position.
Publication Name: The Journal of Corporation Law
Subject: Law
ISSN: 0360-795X
Year: 1997
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- Abstracts: Clearing the air: EPA's self-assessment of clean-air policy
- Abstracts: "If it ain't broke...": we don't need another privileges and immunities clause for environmental audits. Environmental democracy
- Abstracts: Getting busy: corporate issues in the early stages of criminal environmental investigations. Allocating environmental liabilities in acquisitions