CCH Tax News Headlines - July 1, 2009

CCH Tax News Headlines - July 1, 2009

Federal Headlines: -

7/1/2009 - Guidance Issued on Private Foundations and SponsoringOrganizations that Maintain Donor-Advised Funds (Rev. Proc. 2009-32) 7/1/2009 - Guidance Provided for Corporations Electing to Include orExclude Extension Property from Election to Claim Increased Researchand AMT Credits in Lieu of Bonus Depreciation (Rev. Proc. 2009-33) 7/1/2009 - LLP, LLC and Tenancy-in Common Interests Not LimitedPartnership Interests Under Passive Loss Rules (Garnett, TC) 7/1/2009 - Commission Rate Adjustments for Related Customer WereDeductible 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

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