Corporate Business Taxation Monthly articles from February 2003

Corporate Business Taxation Monthly archives from February 2003

Understanding the capitalization regulations. (Article).
February 1, 2003... The Department of the Treasury and Internal Revenue Service issued proposed capitalization regulations on December 19, 2002 that would, in some instances, ultimately force taxpayers to capitalize certain expenditures that the taxpayer would...

Taxation of sales of digitally delivered information.(Taxation and the Business of the Internet)(part 3)
February 1, 2003... This is the third article in a three-part series examining the constitutional and other legal constraints on state tax authorities intent on imposing sales and use tax collection responsibilities upon Internet-based retailers and service...

Operative requirements within the Streamlined Sales and Use Tax Agreement.
February 1, 2003... The Streamlined Sales Tax Implementing States (SSTIS) completed the Streamlined Sales and Use Tax Agreement (the Agreement) on November 12, 2002. This Agreement becomes effective upon enactment of parallel legislation by the requisite number of...

Taxation of compensation and benefits.(employee stock ownership plan loans)
February 1, 2003... The IRS has ruled that funds credited to an S corporation s accumulated adjustment account can be used to pay an employee stock ownership plan (ESOP) loan without causing either a prohibited transaction or annual additions. (1) In general,...

Tax accounting.(deferral for income from advance payments for services)
February 1, 2003... This month's column discusses Notice 2002-79, (1) which incorporates a proposed revenue procedure designed to supersede Revenue Procedure 71-21, (2) the long-standing procedure that allows a limited administrative deferral for income from...