CCH TAX NEWS HEADLINES - OCTOBER 10, 2011

CCH TAX NEWS HEADLINES - OCTOBER 10, 2011

_IRS Supplements Interest Rate Schedules for Insurance Companies (Rev. Rul. 2011-23)_

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Posted on _10/10/2011_
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by _CCH_
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The IRS has supplemented the schedules of prevailing state-assumed interest rates and applicable federal interest rates set forth in Rev. Rul. 92-19,

1992-1 CB 227, for tax years beginning after December 31, 2009. The information is to be used by ? _Continue reading ?_
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Posted in _Federal Tax Headlines_
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_Certain Requirements for Low-Income Housing Credit Projects Suspended to Provide Disaster Relief in Pennsylvania (Notice 2011-83)_

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Posted on _10/10/2011_
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by _CCH_
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The IRS has suspended certain requirements for low-income housing credit projects in order to provide emergency housing to those displaced by the devastation caused by Hurricane Irene during the period of August 26, 2011, to August 30, 2011, or Tropical ? _Continue reading ?_
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Posted in _Federal Tax Headlines_
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STATE TAX NEWS - 10/10/2011

_Tennessee ~ Sales and Use Tax: Governor Announces Agreement Reached With Amazon_

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Posted on _10/10/2011_
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by _CCH_
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Tennessee Gov. Bill Haslam has announced that an agreement has been reached with Amazon under which Amazon will begin to collect Tennessee sales taxes beginning January 1, 2014, unless a national solution is addressed before that time. Tennessee law currently ? _Continue reading ?_
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Posted in _State Tax Headlines_
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_Michigan ~ Corporate Income Tax: Nexus Bill That Would Define ?Actively Solicits? Passed by House_

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Posted on _10/10/2011_
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by _CCH_
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The Michigan House of Representatives has passed a bill that would, if enacted, define ?actively solicits? for determining nexus under the corporate income tax. The House version of the bill is the same as the version passed earlier by the ? _Continue reading ?_
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Posted in _State Tax Headlines_
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_California ~ Corporate, Personal Income Taxes: Conformity to Federal Regulated Investment Company Modernization Act Enacted_
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Posted on _10/10/2011_
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by _CCH_
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Legislation conforms California personal income and corporation franchise and income tax provisions to the federal Regulated Investment Company Modernization Act of 2010, with modifications to incorporate California definitions and terminology. Specifically, California law now conforms to the amendments made by ? _Continue reading ?_
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Posted in _State Tax Headlines_
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