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For Illinois corporate clients who pay significant Illinois corporate franchise tax, relief may be on the way.

In a technical advice memorandum, the IRS held that the sole means for a trust to establish material participation is through the activities of fiduciaries.

The IRS approved Windstream Holding Inc.'s plan to distribute a corporate subsidiary in a tax-free spinoff.

On May 6, the IRS released Revenue Ruling 2004?51, 2004-22 I.R.B. --, examining an educational joint venture involving a tax-exempt university and for profit company specializing in interactive video training programs. The parties form a joint venture through which teacher training seminars will be conducted. The university controls the educational content delivered by the joint venture while the for-profit company is primarily responsible for presentation of the material and technical support

Fees paid by some health insurance policy issuers and plan sponsors to fund the Patient-Centered Outcomes Research Institute are deductible as business expenses under section 162.

On January 6, 2016, the New Jersey Tax Court approved its January 14, 2014 decision in Lorillard Licensing Company LLC v. Director, Division of Taxation for publication, making the Tax Court decision precedential.

The New Jersey Tax Court issued a written amplification of its bench decision in Lorillard Licensing Company LLC’s appeal that the Division of Taxation may not apply dual nexus standards for Throwout purposes.

Internal Revenue Code Section 1202 provides for the exclusion for noncorporate taxpayers of gain on the sale of qualified small business stock (QSBS) held for more than five years.

Determining financial statement impact from the state flow through of federal tax reform will be complicated by changes in state tax policy expected to be adopted.

On the individual side, Trump proposed a full deduction of the "average cost of child care spending" and a repeal of the estate tax.

Nexus is the necessary connection with a state that allows the state to impose an income or sales and use tax.

The EC is currently investigating under the State aid rules tax ruling practices in Ireland, Luxembourg, the Netherlands and Belgium.

The U.S. Department of Energy has launched a new Emissions Value Request Process to support the Section 45Z Clean Fuel Production Tax Credit, enabling transportation fuel producers to obtain lifecycle greenhouse gas emissions rates for fuels not covered in existing rate tables. Fuel producers must submit engineering analyses and completed application forms to petition the Treasury for provisional emission rates, opening new pathways for claiming production incentives for certain feedstocks from the United S

Recently, the Government Accountability Office examined the IRS’ ability to effectively oversee the operations of exempt organizations.

On 27 October 2014, the Layne Christensen Company, a US corporation specialising in deep drilling for energy resources, entered into a $5 million settlement with the SEC to resolve charges under the FCPA.

Sen. Carl Levin introduced the Stop Corporate Inversions Act of 2014, which proposes more stringent limits on the relocation of companies outside the U.S.

A question I am often asked by clients and practitioners alike is: Should I form a corporation or a limited liability company (LLC)?