CCH Tax Headline News - August 14, 2008 -
FEDERAL NEWS -
Corporation Compelled to Produce Documents Not Protected Under Tax Practitioner Privilege; Tax Shelter Exception Established (Valero Energy Corp., DC Ill.)
Policyholder's Ownership Rights Upon Demutualization of Insurance Company Lacked Determinable Fair Market Value; Open Transaction Doctrine Applied (Fisher, FedCl)
Final Regulations Issued Pertaining to Changes in S Corporation Rules Under American Jobs Creation Act of 2004 and Gulf Opportunity Zone Act of 2005 (T.D. 9422)
STATE NEWS California --Corporate Income Tax: Distribution Qualified for Elimination From Income
Colorado --Sales and Use Tax: Tax Increase Initiative Will Appear on November Ballot
Massachusetts --Personal Income Tax: Voter Initiative to Repeal Income Tax Approved
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