CCH TAX NEWS for May 19, 2008

CCH TAX NEWS for May 19, 2008

FEDERAL NEWS

Proposed Regulations Address Abusive Partnership Allocations (NPRM REG-100798-06)

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Final Regulations Address Partnership Allocation Rules; Distributive Shares (T.D. 9398)
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Procedures Provided for Securitization Vehicles to Modify Mortgage Loans Without Negative Tax Consequences (Rev. Proc. 2008-28)
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STATE NEWS

California --Corporate Income Tax: Meeting Set on LLC Fee Income Assignment Rules

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Hawaii --Sales and Use Tax: SST Conformity Legislation Failed to Pass
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Wisconsin --Multiple Taxes: Related Entity Addback Provisions Enacted, Some Provisions Vetoed
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John H. Fisher
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