CCH Tax News Headlines - July 1, 2009

CCH Tax News Headlines - July 1, 2009
Federal Headlines: - http://tax.cchgroup.com/news/headlines/2009/nws62909.htm#1 7/1/2009 - Guidance Issued on Private Foundations and Sponsoring
Organizations that Maintain Donor-Advised Funds (Rev. Proc. 2009-32) 7/1/2009 - Guidance Provided for Corporations Electing to Include or Exclude Extension Property from Election to Claim Increased Research and AMT Credits in Lieu of Bonus Depreciation (Rev. Proc. 2009-33) 7/1/2009 - LLP, LLC and Tenancy-in Common Interests Not Limited Partnership Interests Under Passive Loss Rules (Garnett, TC) 7/1/2009 - Commission Rate Adjustments for Related Customer Were Deductible Expenses; Penalty Not Imposed (Manning, TCM)
State Headlines: 7/1/2009 - All States --Corporate Income Tax: UDITPA Study Committee Recommends End to Review 7/1/2009 - New Jersey --Multiple Taxes: Governor Signs State Spending Plan 7/1/2009 - Wisconsin --Corporate, Personal Income Taxes: Numerous Tax Changes Enacted in Budget Legislation
Missed a headline? Click here for last week's tax highlights. - http://tax.cchgroup.com/news/taxnews/default.asp?PageID=4
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