Corporate Business Taxation Monthly articles from December 2002

Corporate Business Taxation Monthly archives from December 2002

Guide to tax issues in the Sarbanes-Oxley Act of 2002.
December 1, 2002... The Sarbanes-Oxley Act of 2002 (the "Act") signed into law on July 30, 2002, may be the most fundamental reform of securities laws since the Great Depression. (1) The tentacles of the bill will certainly reach into the tax departments of...

The shaky ground of the Commerce Clause.(Taxation and the Business of the Internet)(part 2)
December 1, 2002... This three-part series of articles examines the Constitutional mandates currently regulating the taxation of e-commerce. The first article [Corporate Business Taxation Monthly, vol. 4, no. 2, November 2002] focused on the restrictions of the...

Taxation of compensation and benefits.
December 1, 2002... The Internal Revenue Service has held that shares of a foreign parent held by an employee stock ownership plan (ESOP) are "qualifying employer securities" and that the stock is also "applicable employer securities." The IRS also determined that...

Tax accounting.(law survey)
December 1, 2002... In this month's issue: * Revenue Ruling 2002-71(1) illustrates the treatment of a debt hedge under Treas. Regs. section 1.446-4. * Revenue Procedure 2002-652 extends an optional system of "track maintenance allowances" to smaller...

Prospective application of regulations upheld.(US 9th Circuit Court of Appeals)
December 1, 2002... Prospective Application of Regulations Upheld A split panel from the Ninth Circuit Court of Appeals affirmed the decision of the Tax Court in UnionBanCal Corp. v. Commissioner, (1) a case involving the deferral of a loss under section 267...

Multistate taxation.(state sales and use tax developments in Kansas, Minnesota, Missouri, and Tennessee)
December 1, 2002... This column focuses on recent state sales and use tax developments in Kansas, Minnesota, Missouri, and Tennessee: * The Kansas Department of Revenue ruled on the taxability of software used for the engineering of a finished product twice in...

International taxation.
December 1, 2002... We have seen action on a number of fronts this month. This column discusses... * Future expansion of the European Union (EU), * New proposed regulations on basis shifting transactions, * Warnings to those taxpayers who have...