CCH TAX NEWS for May 20, 2008
FEDERAL NEWS
Applicable Federal Rates for June 2008 Released (Rev. Rul.
2008-28)
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Final Regulations Adopted for Determining Expanded Affiliated Group Ownership Percentages (T.D. 9399)
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Remanufacturer of Car Alternators and Generators Must Include Refundable Charges for Cores in Income, Substantial Understatement Penalty Not Imposed (Bigler, TCM)
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STATE NEWSKentucky --Corporate, Personal Income Taxes: U.S. Supreme Court Upholds Exemption for In-State Municipal Bonds
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Texas --Insurance Tax: Calculation of Retaliatory Tax Upheld
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