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Introduction to U.S. Legal Sources

Introduction to U.S. Legal Sources. LLM in American Law & LLM in Intellectual Property September 11, 2009. Government of the United States. The Law is given effect by a Regulation made by the Executive Branch.

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Introduction to U.S. Legal Sources

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  1. Introduction to U.S. Legal Sources LLM in American Law & LLM in Intellectual Property September 11, 2009

  2. Government of the United States The Law is given effect by a Regulation made by the Executive Branch A Law and Regulation may be interpreted by a Decision made by the Judicial Branch Legislative Branch passes Laws

  3. Legislative Branch

  4. American Jobs Creation Act of 2004

  5. 108-357 108 = # of Congress 357 = # of the law 118 Stat. 1418 118 = volume # 1418 = page #

  6. Sec. 888 Modification of Straddle Rules of the Public Law Sec. 1092 (a)(2) of the United States Code P.L. 108-357 § 888 = 26 U.S.C. §1092(a)(2)

  7. 26 U.S.C. 1092 • 26 U.S.C. § 1092(d)(3) • (3) SPECIAL RULES FOR STOCK.-For purposes of paragraph (1)- • IN GENERAL.- In the case of stock, the term 'personal property‘ includes stock only if • Such stock is of a type that is actively traded and at least 1 of the positions offsetting such stock is a position with respect to such stock or substantially similar or related property or • such stock is of a corporation formed or availed of to take positions in personal property which offset positions taken by any shareholder. • Rule for Application – For purposes of determining whether subsection (e) applies to any transaction with respect to stock described in subparagraph (A)(ii), all includible corporations of an affiliated group (within the meaning of section 1504(a)) shall be treated as 1 taxpayer.

  8. Codification and Amendment • 26 U.S.C. § 1092(d)(3) • (d)(3) SPECIAL RULES FOR STOCK.-For purposes of paragraph (1)- • IN GENERAL.-Except as provided in subparagraph (B), the term 'personal property' does not include stock. • Exceptions.-The term 'personal property’ includes- • (i) any stock which is part of a straddle at least 1 of the offsetting positions of which is- • an option with respect to such stock or substantially identical stock or securities, or • under regulations, a position with respect to substantially similar or related property (other than stock), and • (ii) any stock of a corporation formed or availed of to take positions in personal property which offset positions taken by any shareholder. • (C) SPECIAL RULES.- • (i) For purposes of subparagraph (B), subsection (c) and paragraph (4) shall be applied as if stock described in clause (i) or (ii) of subparagraph (B) were personal property. • 26 U.S.C. § 1092(d)(3) • (d)(3) SPECIAL RULES FOR STOCK.-For purposes of paragraph (1)- • IN GENERAL.-Except as provided in subparagraph (B), the term 'personal property' does not include stock. The preceding sentence shall not apply to any interest in stock. • Exceptions.-The term 'personal property’ includes- • (i) any stock which is part of a straddle at least 1 of the offsetting positions of which is- • an option with respect to such stock or substantially identical stock or securities, or • under regulations, a position with respect to substantially similar or related property (other than stock), and • (ii) any stock of a corporation formed or availed of to take positions in personal property which offset positions taken by any shareholder. • (C) SPECIAL RULES.- • (i) For purposes of subparagraph (B), subsection (c) and paragraph (4) shall be applied as if stock described in clause (i) or (ii) of subparagraph (B) were personal property. • 26 U.S.C. § 1092(d)(3) • (d)(3) SPECIAL RULES FOR STOCK.-For purposes of paragraph (1)- • IN GENERAL.-Except as provided in subparagraph (B), the term 'personal property' does not include stock. The preceding sentence shall not apply to any interest in stock. • Exceptions.-The term 'personal property’ includes- • (i) any stock which is part of a straddle at least 1 of the offsetting positions of which is- • an option with respect to such stock or substantially identical stock or securities, or • (II) a securities futures contract (as defined in section 234B) with respect to such stock or substantially identical stock or securities, or • (III) under regulations, a position with respect to substantially similar or related property (other than stock), and • (ii) any stock of a corporation formed or availed of to take positions in personal property which offset positions taken by any shareholder. • (C) SPECIAL RULES.- • (i) For purposes of subparagraph (B), subsection (c) and paragraph (4) shall be applied as if stock described in clause (i) or (ii) of subparagraph (B) were personal property. • 26 U.S.C. § 1092(d)(3) • (d)(3) SPECIAL RULES FOR STOCK.-For purposes of paragraph (1)- • IN GENERAL.- In the case of stock, the term 'personal property‘ includes stock only if • Such stock is of a type that is actively traded and at least 1 of the positions offsetting such stock is a position with respect to such stock or substantially similar or related property or • such stock is of a corporation formed or availed of to take positions in personal property which offset positions taken by any shareholder. • Rule for Application – For purposes of determining whether subsection (e) applies to any transaction with respect to stock described in subparagraph (A)(ii), all includible corporations of an affiliated group (within the meaning of section 1504(a)) shall be treated as 1 taxpayer. Deficit Reduction Act of 1984 P.L. 98-369 Tax Reform Act of 1986 P.L. 99-514 Consolidated Appropriations Act of 2001 P.L. 106-554 American Job Creations Act of 2004 P.L. 108-357

  9. Executive Branch

  10. Federal Executive Documents

  11. 58 F.R. 30727

  12. 60 FR 14636

  13. Code of Federal Regulations

  14. Judicial Branch: Documents United States Reports Federal Reporter 3d Federal Supplement 2d

  15. Judicial Branch: Documents Case Citation: Volume Reporter Page Year 389 US 347 (1967)

  16. Federal Circuits

  17. Constitution and Enumerated Powers Federal Government: Article 1 sec. 8 State Government: 10th Amendment

  18. Federal System Federal Government Legislative Branch Executive Branch Judicial Branch Massachusetts Government Legislative Branch Executive Branch Judicial Branch

  19. State Legislative Documents

  20. 1172 Session Laws: Chapter 630, § 2, 1987 Mass. Acts

  21. Code: Mass. Gen. Laws ch. 167H, § 2

  22. State Executive Documents

  23. Massachusetts Code of Regulations

  24. State Judicial Documents

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