Contact Us
Subscribe to this blog via RSS
Join us on LinkedInCategories
- Compliance
- Disaster relief
- Income Tax
- Americans with Disabilities Act ("ADA")
- Main Street Lending Program
- Remote Work
- Web Content Accessibility Guidelines
- Economic Injury Disaster Loan (EIDL)
- Payroll Protection Program (PPP)
- CARES Act
- Coronavirus Aid, Relief and Economic Security Act
- COVID-19
- Small Business Administration (SBA)
- Liability Waivers
- Miller, as Next Friend of her Minor Child, E.M. v. House of Boom Kentucky, LLC
- Intangible Assets
- Tax consequences
- Taxation
- Community Banks
- Dodd-Frank Act
- SEC Crowdfunding Rules
- Corporate
- Diversity
- Judgment creditors
- Consumer Debts
- Employment Law
- Entrepreneur
- ERISA
- Lenders
- Litigation
- Municipal Liability
- Small Business
- Business Entities
- Equity Development
- Investment
- Mergers and Acquisitions
- Sales and Dissolutions
- Business Formation and Planning
- Closely Held Businesses
- Corporate and Business Tax
- Uncategorized
Showing 31 posts tagged corporate and business tax.
Kentucky DOR now required to release redacted letter rulings upon request
Letter rulings are written decisions issued by the Internal Revenue Service in connection with a taxpayer’s request for clarity on a particular tax issue. Because letter rulings are private, they bind only the taxpayer who makes the request. In other words, other taxpayers cannot rely on letter rulings for their own situation. The IRS is, however, able to redact the personal information from these rulings and classifying them as revenue rulings, which make the decision binding on all taxpayers and the IRS. More >
Burger King accused of trying to dodge taxes by moving tax base to Canada
In our last post, we spoke about Burger King’s recent decision to acquire Canadian coffee and doughnut franchise Tim Hortons. As we noted, some Canadians have expressed concern that the acquisition will mar the character of the beloved Canadian chain. Another issue that has come up in connection with the acquisition is Burger King’s decision to change its tax base from the United States to Canada. The switch should allow the burger chain to reduce its U.S. tax obligations. More >
Corporate tax rates in the U.S. are arguably too high
There have been arguments made that corporate taxation should be greatly reduced in the United States. Part of the reason is that these corporate taxes encourage businesses to merge with foreign entities or engage in other strategies that will reduce their tax liability. The end result is that more American jobs are lost. More >
The Future of Non-Profits & Politics
Nonprofit organizations have played an important role in America's history, but that role may soon be redefined as the IRS seeks to reform the tax code provision that gives life to these organizations. Currently, a nonprofit organized under Section 501(c)(4) of the tax code can engage in politics and remain tax-exempt if more than half of its money and time is spent on "social welfare activities." As a result, especially in recent years, several nonprofit organizations have entered into the political arena with big wallets and a set agenda, both on local and national stages - especially because political nonprofit organizations are permitted to keep donor names confidential. A study by the Center for Responsive Politics found that political spending by nonprofit organizations skyrocketed from less than $5.2 million in 2006 to more than $300 million in 2012. More >
Tax incentives approved by Kentucky house for certain businesses
Kentucky lawmakers have decided to extend tax incentives to help spur on expansion projects being conducted by AK Steel and General Electric. Those sponsoring the bill hope that the bills will protect high-paying jobs that are being offered by these corporations. The bills reportedly passed without opposition. More >
Relief for M&A Brokers in Form of No-Action Letter
Recently, the Division of Trading and Markets ("the Division") of the U.S. Securities and Exchange Commission released a no-action letter indicating that the staff of the SEC would not recommend enforcement action against an "M&A Broker", even though that person or firm will receive compensation for assisting in the private sale of the stock of a target company. Those in the financial industry have long argued that the role of an M&A Broker is different from that of institutional brokerages and those qualified as such should not have to deal with the full costs and regulatory burdens associated with broker-dealer registration. More >
Tax lawsuit surrounds claimed $658 overpayment by GE
General Electric has sued the U.S. Internal Revenue Service concerning an alleged overpayment of taxes and interest related to losses suffered during the sale of ERC Life Reinsurance. The dispute goes back to 2003 when ERC was acquired by another company. The IRS refused to grant GE a capital loss of $2.2 billion realized from sale of ERC Life shares. More >
Office of the Taxpayer Advocate: One watchdog of IRS shortcomings
The Internal Revenue Service can strike a chord of fear -- or at least very real concern -- into the heart of any business owner in Kentucky or elsewhere across the country. More >
Corporate jets relocated to Kentucky because of tax break
For purposes of taxation, Meyer Tool's corporate jets have now been placed at the Cincinnati/Northern Kentucky International Airport. A new tax break has been implemented that would eliminate property tax on non-commercial aircrafts by local taxing districts. More >
Debate over how much corporations should pay in taxes continues
It's been suggested that corporate tax rates in the United States are at 39.1 percent - which would be the highest among nation members of the Organization for Economic Cooperation and Development. The argument as to how much is paid, however, is far from settled. For example, this figure does not necessarily take into account deductions and credits. More >
