CCH TAX NEWS for March 7, 2008
FEDERAL NEWS
Regulations Modify Diversification Requirements for Variable Insurance and Annuity Contracts (T.D. 9385)
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Final Regulations Issued on Domestic Production Deduction (T.D.9384)
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IRS Issues Temporary and Proposed Consolidated Return Regulation Excluding Gain from Certain Dispositions of Member Stock (T.D. 9383; NPRM REG-137573-07)
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IRS Releases Fact Sheet on Like-Kind Exchanges (FS-2008-18)
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STATE NEWSCalifornia --Personal Income Tax: FTB Follows IRS Extension for Farmers and Fishermen
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Indiana --Sales and Use Tax: Streamlined Sales Tax Conformity Changes Enacted
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Virginia --Corporate, Personal Income Taxes: New Subtractions Pertaining to Launch Services, Payload Delivery Created
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