Washington Law Review


Kenneth A. Cox


It is this provision of the tax laws which engages the attention of Dr. James K. Hall, Professor of Economics at the University of Washington, in this study prepared for the Joint Committee on the Economic Report. The result is a comprehensive and informative survey covering the basic purposes underlying Section 102, its history, its economic effects upon corporations within its orbit and upon the economy generally, the administration of the Section by the Bureau of Internal Revenue, its treatment by the courts, and the criticisms which have been leveled against it; together with proposals for its modification. Although designed as an appraisal of the effectiveness of Section 102 as a legislative mechanism for the achievement of a particular Congressional policy, Dr. Hall's study can be of real value to the practicing lawyer as well.

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