State Tax
This is FindLaw’s collection of State Tax articles, part of the Finance section of the Corporate Counsel Center. Tax law for state and local government is contained in state codes sections, regulations, administrative codes, procedures and statements issued by the respective government authorities, as well as state court decisions. Business are also required to pay taxes. Business expenses are the associated costs of carrying on a business. Such expenses are typically deductible if a business is operated to make a profit. 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
State Tax Articles
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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 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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