CCH TAX NEWS HEADLINES - OCTOBER 6, 2011

CCH TAX NEWS HEADLINES - OCTOBER 6, 2011 _Procedures Modified for Issuing Opinion and Advisory Letters on Employee Plans (Rev. Proc. 2011-49)_

Posted on _10/06/2011_ by _CCH_ The IRS has updated its procedures for issuing opinion and advisory letters regarding pre-approved plans under Code Secs. 401 and 403(a). The updated procedure involves the acceptability under these sections of the form of master and prototype (M&P) and volume ? _Continue reading ?_ Posted in _Federal Tax Headlines_ | _Leave a comment_ _Treasury Security Rate Set for Computing Current Plan Liability for October 2011 (Notice 2011-84)_ Posted on _10/06/2011_ by _CCH_ For pension plan years beginning in October 2011, the IRS has released the corporate bond weighted average interest rate, the permissible range of interest rates used to calculate current plan liability and to determine the required contribution under Code Sec. ? _Continue reading ?_ Posted in _Federal Tax Headlines_ | _Leave a comment_ STATE TAX HEADLINES

_Tennessee ~ Sales and Use Tax: In-State Warehouse or Distribution Facility Creates Nexus_

Posted on _10/06/2011_ by _CCH_ The Tennessee attorney general has issued an opinion, consistent with Opinion No. 11-52 (TAXDAY, 2011/07/05, S.22), that a retailer that directly maintains or owns an in-state warehouse or distribution facility has sales and use tax nexus with the state for ? _Continue reading ?_ Posted in _State Tax Headlines_ | _Leave a comment_

_Missouri ~ Sales and Use Tax: Concession Stand Sales at Movie Theaters Did Not Qualify for Reduced Tax Rate_

Posted on _10/06/2011_ by _CCH_ A movie theater operator was not entitled to a refund of Missouri sales tax paid on concession stand sales at its movie theaters because the items sold at the concession stands did not qualify for the reduced sales tax rate ? _Continue reading ?_ Posted in _State Tax Headlines_ | _Leave a comment_ _California ~ Multiple Taxes: Community Development Financial Institution Credits Extended, Revised_ Posted on _10/06/2011_ by _CCH_ The California corporation franchise and income, personal income, and insurance premium tax credits for deposits made into a community development financial institution (CDFI) will be allowed for taxable years beginning before January 1, 2017 (previously, January 1, 2012). However, the ? _Continue reading ?_ Posted in _State Tax Headlines_ | _Leave a comment_