CCH TAX NEWS for July 23, 2007
FEDERAL NEWS
IRS Provides Monthly Bond Factor Amounts for Dispositions of Low- Income Buildings, Interests in January through September, 2007 (Rev. Rul. 2007-46)
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Proposed Procedures Issued for Requesting Determination of Status as Qualified Payment Card Agent (Notice 2007-59)
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Treasury Security Rate Set for Computing Current Plan Liability for July 2007 (Notice 2007-61)
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Specifications Released for Filing 2007 Information Returns Electronically, Magnetically (Rev. Proc. 2007-51)
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Final Regulation Provides IRS with Authority to Designate Domestic Member of Consolidated Group as Substitute Agent for Foreign Parent (T.D. 9343)
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STATE NEWSCalifornia --Multiple Taxes: Assembly Passes Budget Bills
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Ohio --Sales and Use Tax: Law Renders Vehicle Sales to Residents of Certain States Taxable
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Texas --Corporate Income Tax: Franchise Tax Credit Enacted for Enterprise Projects
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