Corporate Business Taxation Monthly articles from August 2002

Corporate Business Taxation Monthly archives from August 2002

Notes from the editors.
August 1, 2002... Corporate Business Taxation Monthly is the only monthly publication specifically committed to meeting the needs of corporate tax executives and their professional advisors. As such, Corporate Business Taxation Monthly continues to provide...

At risk determinations in circular leasing transactions.
August 1, 2002... Recent decisions by the Tax Court and by federal district courts affect the Section 465 at risk rules that affect leasing transactions. These decisions significantly impact funding for equipment leasing purchases and, as such, impact those who...

Plan fiduciary responsibilities after Enron.
August 1, 2002... Benefits professionals around the country have watched with particular fascination as the events surrounding the Enron debacle unfold. Perhaps for the first time since Studebaker went bankrupt, leaving its employees with underfunded pension...

California conformity legislation finally passes. (legislation to conform state tax law with federal tax law)
August 1, 2002... After almost four years without an omnibus federal tax conformity bill, the California Legislature has finally adopted three measures to conform California tax laws to their federal tax counterparts. AB 131 (1) (Corbett) was enacted on April...

Taxation of compensation and benefits. (Brief Article)
August 1, 2002... The IRS has ruled that a bankruptcy judge and creditors' committee approval of payments to disqualified individuals satisfied the shareholder approval requirements for purposes of Section 280G. The IRS held that the judge and committee...

Tax accounting.
August 1, 2002... In this month's column, 1. A new law may liberalize the "nonaccrual experience method," but narrows its application; 2. The Third Circuit affirms the Tax Court's holding that a teacher was in constructive receipt of pension benefits;...

Guidance issued on five-year NOL carryback period. (net operating loss)
August 1, 2002... GUIDANCE ISSUED ON FIVE-YEAR NOL CARRYBACK PERIOD president Bush signed the Job Creation and Worker Assistance Act of 2002 (the Act) into law on March 9, 2002. (1) The Act provides various tax incentives designed to provide a quick boost to...

Multistate taxation. (income tax credits in Georgia)
August 1, 2002... This article provides information on recently enacted Georgia legislation impacting various income tax credits and economic development incentives. The 2002 session of the Georgia General Assembly enacted a new sales tax holiday incentive. The...

International taxation. (taxation of financial hedges) (Brief Article)
August 1, 2002... The IRS proposed regulations on May 10, 2002, that limit subpart F exposure for hedging and currency-related transactions. The regulations are issued only in proposed form, and a hearing on these regulations is scheduled for September 11, 2002....