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

Tax Articles

Simple Retirement Solutions for Small Business

Question: Starting a small business retirement savings plan can be easier than most business people think.There are a number of retirement options that provide tax advantages to both employers and employees. Why save? Experts estimate that ...
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So You Think You Are a Florida Resident?

Consider this scenario. You run several businesses in Connecticut and maintain your home in Connecticut. But you've decided to buy some property in Florida, spend some time there for relaxation, and, because of the tax advantages, claim Florida as ...
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State Tax Incentives Newsletter

First, new Department of Revenue Director, Betsy Carpentier, stepped in as Chairman of the Subcommittee of the Coordinating Council Committee. (Maybank had served as Chairman of the Committee since its inception.) Very recently Renee Oswald ...
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Stock Option Income Subject To Earned Income Tax Levied By Pennsylvania Political Subdivisions

Pennsylvania residents who exercise stock options issued by their employer may be subject to local earned income tax on the income realized when such stock options are exercised, based on a recent Pennsylvania Supreme Court ruling. In Marchlen v ...
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Tax Aspects of Refinancing and Restructuring:

Electric utilities will use the proceeds of securitization to retire existing debt and equity capital as part of a restructuring of the utilities' capitalization. These changes to the debt and equity sections of an electric utility's balance sheet ...
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Tax Basis of Inherited and Gifted Property

A very common but often overlooked aspect of income taxation concerns the tax consequences of an individual's sale of an asset received either by inheritance or as a gift. When such property is sold, the question arises as to whether the seller has ...
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Tax Court Warns: Cash Distributions from an IRA Must be Rolled Over in Cash

The Tax Court recently ruled in Albert Lemishow v. Commissioner of Internal Revenue, 110 T.C. No. 11 (1998), that a taxpayer receiving a cash distribution from an IRA or Keogh plan must roll it over to an IRA in cash in order to qualify as a ...
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Tax Incentives Newsletter

Notwithstanding that the unemployment rate in South Carolina increased more than any other state in the nation last year, economic development incentives have come under increasing attack. The Baltimore Sun, ABC News, op-ed editorials in The State ...
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Tax Litigation Primer

Reprinted from the November 2000 issue of Corporate Business Taxation Monthly Like many of my colleagues, I am uncertain whether I chose tax litigation as a profession or it chose me. Whatever the origin, the invitation to write an essay on a topic ...
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Tax Reporting of Plan Loan Defaults

The IRS Form 1099-R for 1997 includes a new distribution code for reporting certain taxable amounts relating to plan loans. This new code comes into play in case of a "deemed distribution" that results when a participant defaults on a plan loan or ...
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