Journal of State Taxation articles from September 2005

Journal of State Taxation archives from September 2005

State tax impacts of the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act: Randall Hanson and James Smith examine bankruptcy, how debtors avoid taxes in bankruptcy, and the effect of BAPCPA's rule changes on the collection of state and local taxes.
September 22, 2005... Introduction The skyrocketing rate of bankruptcies over the last 20 years has greatly influenced the collection of state and local taxes. The 1.597 million debtors that filed for bankruptcy in the United States during 2004 is almost five...

The complete liquidation exception and other recent Illinois business income developments: Brian Stocker analyzes the Blessing/White decision, and examines how it should apply to the liquidation of a unitary subsidiary. He also looks at related Illinois statutory changes, including how each of these changes may impact a complete liquidation transaction.
September 22, 2005... Introduction It has been observed that the tax law deals essentially with only two major issues, namely, character and timing. (2) While there are many important character issues to deal with under the federal income tax laws, (3)...

Current income tax developments: western states: the authors review tax developments in the western states including those related to nexus, filing options, apportionment and pass-through entities.
September 22, 2005... Nexus Arizona De Minimis Physical Presence The case of Arizona Department of Revenue v. Care Computer Systems Inc. determines how much nexus is necessary for Arizona to charge its transaction privilege tax. Care argues that more...

Overview of California's LAMBRA credits (CRTC ss. 23645 and 23646(1)). (Local Agency Military Base Recovery Area Act)
September 22, 2005... Property Credit General Provision For each tax year beginning on or after January 1, 1995, there is allowed as a credit against the "tax" (2) an amount equal to the sales or use tax paid or incurred by the taxpayer in connection with...

New Jersey Court finds "physical presence" not a prerequisite for CBT: Irwin Mittleman looks at the New Jersey appellate court Lanco decision and discusses its significance.(corporation business tax)
September 22, 2005... Overview Two years ago, the New Jersey Tax Court held that a Delaware investment company that charged a royalty to an affiliated New Jersey corporation for the utilization of trademarks and service marks was not itself subject to New...