Corporate Business Taxation Monthly articles from October 2002

Corporate Business Taxation Monthly archives from October 2002

Recent guidance makes favorable changes to accounting method rules.(IRS)
October 1, 2002... The IRS has just completed its "method change trilogy," an endeavor that has been in the works since at least 1997. This method change trilogy provides the procedures for: 1. Making voluntary changes in methods of accounting when the...

North Carolina's anti-passive investment company legislation.
October 1, 2002... Declining economic conditions have produced significant budget shortfalls in numerous states for fiscal 2002. As a result, there has been an increase in pressure on state legislators and tax administrators to find ways to increase tax revenues...

Taxation of compensation and benefits.(proposed regulations addressing split-dollar life insurance arrangements)
October 1, 2002... The IRS and the Department of the Treasury have released proposed regulations on the income, employment, and gift tax issues of split-dollar life insurance arrangements. The proposed regulations provide guidance to persons entering into...

Tax accounting.(new rules governing taxpayer accounting periods)(part 1)
October 1, 2002... This month's column begins a two-part discussion of the new rules governing the adoption change of accounting periods (taxable years). These rules were largely rewritten in a package of regulatory and administrative guidance released in May....

Corporate reorganizations.(final rules address scope of common parent's authority)
October 1, 2002... Final Regulations Address Scope of Common Parent's Authority The Treasury Department and IRS recently leased final regulations under Treas. Reg. Sections 1.1502-77 and -78, clarifying the scope of the common parent's authority to act as the...

Multistate taxation.(sales tax developments governing software programs and Internet services)
October 1, 2002... This article focuses on current developments In states sales taxation regarding computer software programs and Internet services: * Louisiana provided a comprehensive ruling on the taxation of Internet access and satellite downloads. *...

International tax developments.(worthless capital asset losses; insolvent corporations)
October 1, 2002... This month's column address worthless capital asset losses in the international tax context. This worthless capital asset issue arises in the context of the check-the-box election and its compatibility with the worthless stock deduction. The...