Tax

This is FindLaw's collection of State and Federal Tax articles, part of the Finance section of the Corporate Counsel Center. While some states do not have an income tax (Nevada), all residents and all citizens of the United States are subject to the federal income tax. Corporations file taxes as well. While they are subject to may of the same rules as are individual taxpayers, they are also covered by an intricate body of rules addressed to the peculiar problems of corporations. Law articles in this archive are predominantly written by lawyers for a professional audience seeking business solutions to legal issues. Start your free research with FindLaw.

Tax Articles
    • Hawaii's Tax Climate
      Hawaii has a balanced, broad-based tax system. With business tax changes recently enacted, Hawaii tax laws can make business more profitable. Some favorable aspects: ** No personal property tax. One of the few states no longer using tax on ...

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    • Guidance Provided on Industrial Production Exemption from Sales Tax
      The Minnesota Tax Court recently found that certain detachable tools used in manufacturing were exempt from sales tax under the Industrial Production Exemption. American Structural Metals, Inc. v. Commissioner of Revenue, Minnesota Tax Court Docket ...

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    • Foreign Sales Corporations
      Everyone can identify with the happy experience of the unexpected discovery of a few extra dollars tucked away in a coat pocket. The same principle can be applied to international trade when exporting businesses realize that the income tax benefits ...

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    • Federal Income Tax Classification of Governmental
      Most governmental entities and political subdivisions are not subject to federal income tax based on the principles of inter-governmental immunity.1 If an entity is separate from (not an "integral part") of the governmental unit, its income is ...

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    • FAQ: Outgoing Investment
      Are there any prohibitions or restrictions imposed by the U.S. government against U.S. persons making investments outside the U.S.? How does the Internal Revenue Code define the term "foreign"? How does the Internal Revenue Code define the term ...

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    • Exempt Organizations: Will Wright Patman Ride Again?
      We are advising our friends in the world of private foundations that now is the time to put your house in order. Certain signs precede certain events, and a meaningful Congressional review of certain current practices of private foundations and ...

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    • Executive Compensation Tax Issues
      The following is a brief summary of some of the tax laws regarding reasonable compensation, golden parachute payments, and limitations on compensation deductions. Section 162 of the Internal Revenue Code allows a deduction for ordinary and ...

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    • Dischargeability of Income Tax Bankruptcy
      Although having knowledge that taxes are dischargeable in bankruptcy, many attorneys still perceive that the tax collector elbows everyone aside and gets paid. Personal income taxes are dischargeable. Practitioners should know the basic requirements ...

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    • Clarifying Tax Status for Volunteer Auxiliaries
      hospital to its ranks -- this time a former not-for-profit hospital. Much time and effort went into the purchase. The parties may even have had to obtain approval from the state attorney general's office. Nevertheless, all approvals were granted ...

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    • Civil Controversies: Tax Court Stipulations
      For fair and reasonably efficient resolution of federal tax disputes, the United States Tax Court is a remarkable institution. Two of the principal reasons it's still economically possible for a taxpayer to pursue a lawsuit in the Tax Court are: 1 ...

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