Monthly Archives: January 2011
The Franchise Tax Board has revised its Informational Publication 1061, Guidelines for Filing a Combined Report
The Franchise Tax Board has revised its Informational Publication 1061, Guidelines for Filing a Combined Report, to reflect the legislative changes applicable to the 2010 and 2011 tax years, including the suspension of the net operating loss deduction and carryovers … Continue reading
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France new Transfer Pricing Documentation Commentary
The French Ministry of Economy, Finance and Industry published new commentary on transfer pricing documentation.
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International Tax Reform.
The public trappings of corporate tax reform continue as the 112th Congress gets underway, with the Treasury Secretary meeting with corporate CEOs, weighing support for comprehensive reform.
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California Formulary Apportionment
Governor Brown called for formulary apportionment to be limited to a single factor (sales).
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IRS Preference for Unilateral APAs
The IRS APA Director commented on the use of unilateral vs. bilateral APAs. In the context of treaty countries, he expressed concern about whether taxpayers seeking unilateral APAs should be requesting bilateral agreements and stated that the concern about unilateral … Continue reading
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The Franchise Tax Board (FTB) and the Employment Development Department (EDD) have announced that California has not conformed to the 2010 Federal Patient Protection and Affordable Care Act’s amendment of federal income tax laws excluding the value of an eligible … Continue reading
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2010 Small Business Jobs Act: Good for Big Business
Larger companies should be aware there’s something for them, too, in the Small Business Jobs Act of 2010 (PL 111-240). Perhaps because of the name of the law enacted Sept. 27, larger businesses might not be aware of a potentially … Continue reading
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Clifton Douglas to Present on Valuation Allowance
Clifton Douglas to Present on February 3, 2011 from 12:00 to 12:30 PST. SUMMARY: This course provides an overview of the requirements for recognizing or derecognizing valuation allowances associated with deferred tax assets. ASC 740 requires a company to evaluate … Continue reading
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Foreign Tax Reform – California Businesses May Be Hit Hardest
On August 10, 2010, President Obama approved the Education Jobs and Medicaid Assistance Act,2 which helps fund education/Medicaid relief but at the expense of corporations via stricter international tax provisions. This foreign tax reform primarily focuses on the foreign tax … Continue reading
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Now That GAAP/IFRS Convergence Is an SEC Priority, Taxpayers Need to Consider Potential Multistate Impact
As the financial crisis on Wall Street has subsided, the Securities and Exchange Commission (SEC) is shifting its focus back to the proposed convergence of generally accepted accounting principles (GAAP) with international financial reporting standards (IFRS). In this article, authors … Continue reading
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