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
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Mandatory Withholding on In-Service Distribution
The Small Business Job Protection Act of 1996 ("SBJPA") made significant changes to pension and benefits law. Prior to the SBJPA, pension plan participants were generally required to begin taking distributions from qualified plans by the April 1 of ...
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Market-Adjusted Institutional Indexed Assets Decline in Latter Part of 1998
Institutional tax-exempt indexed assets increased almost 7% in the second half of 1998, to more than $1.3 Trillion. But when adjusted for market growth, overall institutional indexed assets actually declined 3.5% for the seven-month period ended ...
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Minimum Distribution Requirements Satisfied by After-Tax Contributions
In a private letter ruling (P.L.R. 9840041), the IRS recently privately ruled that the distribution of after-tax contributions from a 401(k) plan could be used to satisfy the minimum distribution requirements imposed by Section 401(a)(9) of the ...
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New Developments Affecting Private Foundations
©1999 Victoria B. Bjorklund-All rights reserved. Reprinted with permission. I. hanks to America's longest period of private wealth accumulation, Americans are experiencing the largest intergenerational transfer of wealth in history. Estimate ...
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New Dollar Limits for 1998
On October 22, 1997, the IRS announced the new cost-of-living-adjusted dollar limits that will apply to qualified retirement plans for 1998 plan years. Here are the 1998 limits that apply to most employer plans: For the 1998 calendar year, the ...
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New Dollar Limits for 1999
On October 23, 1998, the IRS announced the new cost-of-living-adjusted dollar limits that will apply to qualified retirement plans for 1999 plan years. Most 1998 limits are unchanged for 1999. Here are the 1999 limits that apply to most employer ...
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New FASIT Regulations Pose Hurdles
On February 4, 2000, the Internal Revenue Service released proposed regulations concerning Financial Asset Securitization Investment Trusts (FASITs). Congress authorized FASITs in 1996 to provide a nontaxable securitization vehicle for all types of ...
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New Governance and Accounting Rules Concerning Goodwill and Intangible Assets
Hot companies, inflated stock prices and aggressive acquisition strategies will most likely result in a lot of goodwill being carried on the books of the acquiring company. Since traditional goodwill was defined as the excess of the purchase price ...
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New IRS Rules on Corporate Sponsorships
The IRS has issued new proposed regulations intended to help tax exempt organizations determine whether payments received from corporate sponsors are taxable as unrelated business taxable income. The regulations, published February 29, are the ...
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New Law Clarifies Foreign Investment Corporation Exemption
During the 1998 regular session, the Connecticut General Assembly approved exemption from the corporation business tax for any non-U.S. corporation whose sole activity in Connecticut during the income year consisted of trading in stocks or ...
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