Part II discusses the recent growth of commerce on-line and over the Internet, the resulting problem faced by states of lost revenue in the form of sales tax, and the confusion faced by parties conducting sales over the Internet as to their tax collection obligations. The author demonstrates in this Article that a purchaser or heir can acquire from a ground lessor a number of interests in addition to the lessor's interest in the land. Finally, to the extent that some of these interests cannot be amortized or depreciated, there occurs a material distortion of the acquiring party's income. Part II of this Article describes a hypothetical situation to illustrate how this problem arises. Part IV briefly describes the position of the Internal Revenue Service with respect to the acquisition of interests, other than land, from a ground lessor.
V demonstrates that interests, other than land, can be acquired from a ground lessor.
Finally, part VI concludes with a discussion of the present treatment of interests, other than land, acquired from a ground lessor. Commissioner of Taxation v Spotless Services Ltd and Commissioner of Taxation v Spotless Finance Pty Ltd by Julie Cassidy. Tax Increment Financing in Indiana by Catherine Mitchel. This Note focuses on Indiana municipalities' current use of TIF and suggests legislative changes to make this financial mechanism more responsive to community needs. Part I explains the structure of the TIF process and the rationale behind this type of legislation.