CCH TAX NEWS for June 4, 2007
FEDERAL NEWS
Guidance on Political Campaign Intervention by 501(c)(3) Organizations Issued (Rev. Rul. 2007-41)
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Guaranteed Payment to Partner Was Sale or Exchange, Not Distribution (Rev. Rul. 2007-40)
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STATE NEWS
Kentucky --Utilities Tax: Constitutional Challenge to Telecommunications Tax Rejected
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Texas --Corporate Income Tax: Texas Legislature Passes Margin Tax Amendments
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