CCH TAX NEWS for March 30, 2007

CCH TAX NEWS for March 30, 2007

FEDERAL NEWS

Senate Approves Supplemental, Tax Package

IRS Provides Guidance on Bonus Depreciation for Specified Gulf Opportunity Zone Property and

Provides Guidance on the Gulf Zone "Original Use" Requirement (Notice

2007-36) Proposed Regulations Disallow Foreign Tax Credits for Structured Passive Investment Arrangements,

Clarify Noncompulsory Payment Rules (IR-2007-73; NPRM REG-156779-06)

STATE NEWS

Kentucky --Corporate, Personal Income Taxes: KIDA and KREDA Credit Eligibility Expanded;

Qualifying Equipment Costs Increased

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