Archives
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
About Us
Monthly Archives: June 2011
California FTB Hearing on Sales Factor Scheduled
The Franchise Tax Board (FTB) has announced that a public hearing to discuss proposed amendments to Regulation 25136 ( Cal. Code Regs. 18 § 25136 ), Sales factor. Sales other than sales of tangible personal property in this state, has … Continue reading
Posted in Uncategorized
Comments Off
Colorado — Corporate Income Tax — Combined report—financial institutions and non-financial institutions.
The Department of Revenue has issued a Private Letter Ruling, concluding that a taxpayer’s combined report must include both entities that are financial institutions (FIs) and affiliated entities that are not financial institutions (non-FIs), even though the entities use different … Continue reading
Posted in Uncategorized
Comments Off
Clifton Douglas Client Files S-1 Registration
Clifton Douglas Client Files S-1 Registration San Jose, CA — June 20, 2011 — Clifton Douglas announced today that its client, Imperva Inc., successfully filed an S-1 Registration with the Securities and Exchange Commission for an initial public offering of … Continue reading
Posted in Press Releases
Comments Off
Hawaii updates IRC conformity
Hawaii has amended its income tax laws to conform to the Internal Revenue Code of 1986 as amended as of December 31, 2010, effective for taxable years beginning after December 31, 2010 L. 2011, H1089 (Act 91), effective 06/09/2011 and … Continue reading
Posted in Uncategorized
Comments Off
Foreign Bank Account Reports due June 30th
FBAR’s must be received by June 30th, not simply mailed by this date.
Posted in Uncategorized
Comments Off
Alabama double-weights sales factor, provides sourcing rules for sales other than sales of tangible property
Alabama has enacted legislation that increases the weight given the sales factor in the apportionment formula for business income and provides sourcing rules for sales other than sales of tangible personal property. L. 2011, H434, effective for tax years beginning … Continue reading
Posted in Uncategorized
Comments Off
North Carolina Governor vetoes budget bill with new IRC starting point for computation of personal income tax among other changes
On June 12, 2011, North Carolina Governor Bev Perdue vetoed the budget bill, H200, which would have adopted federal adjusted gross income rather than federal taxable income as the starting point for the calculation of North Carolina personal income tax … Continue reading
Posted in Uncategorized
Comments Off
Temp regs remove duplicate Form 5472 filing requirement
IRS has issued temporary regs that remove the duplicate filing requirement for Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business, effective for tax years ending on or … Continue reading
Posted in Uncategorized
Comments Off
Final regs issued on how to elect and calculate the alternative simplified research credit (T.D. 9528, 06/09/2011 ; Reg. § 1.41-6 , Reg. § 1.41-8 , Reg. § 1.41-9)
IRS has issued final regs relating to the election and calculation of the alternative simplified credit under Code Sec. 41(c)(5) . The final regs generally adopt the proposed regs issued in 2008, with minor revisions.
Posted in Uncategorized
Comments Off
CORPORATE INCOME TAX—Research and development credit.
The Franchise Tax Board has issued an informal guidance on the state research and development credit. The guidance explains that the state does not fully conform to federal provisions ( IRC §41(c)(6) ) defining gross receipts for purposes of the … Continue reading
Posted in Uncategorized
Comments Off
