CCH TAX NEWS for March 30, 2007
FEDERAL NEWS
Senate Approves Supplemental, Tax Package
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IRS Provides Guidance on Bonus Depreciation for Specified Gulf Opportunity Zone Property andProvides Guidance on the Gulf Zone "Original Use" Requirement (Notice
2007-36)
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Proposed Regulations Disallow Foreign Tax Credits for Structured Passive Investment Arrangements,Clarify Noncompulsory Payment Rules (IR-2007-73; NPRM REG-156779-06)
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STATE NEWSKentucky --Corporate, Personal Income Taxes: KIDA and KREDA Credit Eligibility Expanded;
Qualifying Equipment Costs Increased
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