CCH TAX NEWS for February 20, 2008
FEDERAL NEWS
Guidance Provided Regarding Reissuance Standards for State and Local Bonds (Notice 2008-27)
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Deductibility of Limited Partner's Distributive Share of Interest Expense Allocable to Partnership's Securities Trading Business Addressed (Rev. Rul. 2008-12)
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Tax Court Has Jurisdiction to Apply Doctrine of Equitable Recoupment (Menard, Inc., TC)
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STATE NEWS
Minnesota --Tobacco Tax: Constitutionality of Tobacco Products Tax Upheld
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Virginia --Corporate, Personal Income Taxes: IRC Conformity Date Updated
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Washington --Business and Occupation Tax: U.S. Supreme Court Declines to Evaluate City Taxes on Wholesales
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