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Those in the franchising industry have been awaiting a ruling from the Iowa Supreme Court in KFC Corp. vs. Iowa Department of Revenue, a tax nexus case that could have implications for the entire industry.

In 1966, the California Legislature adopted the Uniform Division of Income for Tax Purposes Act.

The IRS has released field attorney advice that authorizes a negligence penalty on a taxpayer for taking the position that an open-air garage is a land improvement and therefore has a 15-year recovery period.

The IRS has concluded in a legal memorandum that the installation of exterior heating, ventilation and air conditioning units on roofs and concrete pads next to buildings does not meet the definition of a qualified leasehold improvement property under Section 168(e)(6).

The IRS has concluded in a legal memorandum that an individual's guarantee was an amount at-risk for purposes of Section 465.

The IRS substantially redesigned the Form 990 in 2008 and issued temporary regulations relating to those changes on Sept. 9, 2008.

Generally, an entity that is a PTP is classified as a corporation for U.S. federal income tax purposes under Section 7704.

The Treasury Department and IRS have proposed a regulation that would revoke federal tax-exempt status for private educational institutions with policies or practices deemed to discriminate on the basis of race, including diversity-related programs. The rule eliminates previous safe harbors and raises significant questions about the scope of prohibited activities, potentially affecting scholarships, fellowships, and pipeline programs at schools nationwide.

On August 8, the IRS released a new one page Form 8940, Request for Miscellaneous Determination, to obtain advance approval on certain activities.

The IRS Large Business and International Division (LB&I) issued a directive instructing examiners to discontinue exam activity and not begin new activity related to certain expenditures to maintain, repair or improve cable network property.

Preventing a late or invalid S corporation election or termination is a high priority for S corporations, their owners, and their advisors.

On April 18, 2016, the Mississippi Legislature passed Senate Bill 2858 and enacted the "Taxpayer Pay Raise Act of 2016."

In a letter dated May 31, to Sarah Hall Ingram, Commissioner for Tax Exempt and Government Entities – the American Hospital Association (AHA) asked the IRS to make it clear that participating in an accountable care organization (ACO) will not result in impermissible inurement or private benefit to tax-exempt nonprofit hospitals and will not generate unrelated business income tax (UBIT) if the entity involved is in compliance with the Centers for Medicare and Medicaid Services’ (CMS) eligibility

Under a new bill adopted by the Ohio General Assembly, school boards, governmental bodies, and other third parties will be prohibited from filing complaints to increase the value of others' Ohio real property...

On January 31, 2013, New Jersey Governor Chris Christie signed into law the New Jersey Angel Investor Tax Credit Act.

On March 31, 2014, New York State Governor Andrew M. Cuomo signed into law comprehensive New York State corporate tax reform legislation.

Under the new law, related corporations may, and may be compelled to, file combined returns if they are engaged in a unitary business.