CCH Tax Day Report A tax clearance from the Louisiana Department of Revenue is required for an issuance or renewal of a sales tax resale certificate and for the approval of certain state contracts for the procurement of personal, professional, consulting, or social services or the purchasing of food, supplies, or major repairs. The tax […]

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CCH Tax Day Report The Delaware General Assembly has approved legislation that would increase the maximum corporation franchise tax computed using either the authorized shares method or the assumed capital value from $180,000 to $200,000 each taxable year. Certain large, publicly-traded corporations identified by the Secretary of State would be required to pay a maximum […]

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CCH Tax Day Report In light of a number of problems at the California State Board of Equalization (BOE), the California General Assembly has passed legislation that, if enacted, would strip the BOE of all but its constitutionally mandated tax functions. In addition, the legislation would create a new Department of Tax and Fee Administration […]

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CCH Tax Day Report Lawmakers discussed small business tax reform. The IRS released guidance for partnerships and warned taxpayers about a new phone scam. Congress House. The House Ways and Means Committee approved legislation affecting the nuclear production tax credit (TAXDAY, 2017/06/16, C.1). Senate. The Senate Small Business Committee discussed small business tax reform (TAXDAY, […]

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CCH Tax Day Report Various prescribed rates for federal income tax purposes for July 2017 have been provided by the IRS. The annual short-term, mid-term and long-term applicable federal interest rates (AFRs) are 1.22 percent, 1.89 percent and 2.60 percent, respectively. The semiannual short-term, mid-term and long-term AFRs are 1.22 percent, 1.88 percent and 2.58 […]

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CCH Tax Day Report The House has passed two additional tax credit bills related to the American Health Care Act (AHCA) (HR 1628) (TAXDAY, 2017/05/05, C.1). The House passed its first AHCA -related legislation on June 13 (TAXDAY, 2017/06/14, C.2). The Veterans Equal Treatment Ensures Relief and Access Now (VETERAN) Bill (HR 2372), passed in […]

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