Category Archives: Corporate Solutions

In today’s business climate, it has become increasingly important to streamline the corporate tax, accounting and workflow processes. CCH understands this, which is why we have continued to develop comprehensive and innovative corporate solutions designed to help you manage financial accounting as well as direct, indirect and international tax issues. In this premier issue of Prepared—a newsletter designed to help provide you with the latest information on CCH product developments, enhancements and offerings—we will explore CCH’s introduction of CorpSystem Sales Tax SaaS, new solutions designed to help combat complex state tax nexus issues, provisioning and more!

Virginia ~ Property Tax: Attorney General Resolves Issue Regarding Application of Payments of Delinquent Taxes

Posted on 05/21/2013 by Cch

In regard to the application of payments of delinquent local real estate taxes when a locality has established special tax districts and/or community development authorities, and the taxes accrue at the same time as general real estate taxes, the Virginia … Continue reading →

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Michigan ~ Sales and Use Tax: Rules Amended to Conform to Current Law

Posted on 05/21/2013 by Cch

The Michigan Department of Treasury has amended and repealed several sales and use tax rules in order to conform to current law. Sales tax licenses: R205.1 is amended to reflect that a sales tax license expires on September 30 of … Continue reading →

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Maryland ~ Personal Income Tax: Income Taxes Paid Out of State Allowed to Offset County Taxes; Enforcement Stayed

Posted on 05/21/2013 by Cch

The Maryland Court of Appeals denied the Comptroller’s motion for reconsideration in Wynne v. Maryland Comptroller where the court found that the failure of the Maryland income tax law to allow a credit against the county tax for out-of-state income taxes … Continue reading →

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Compensatory Options Includible in Gross Income; S Corporation Properly Deducted Value as Reasonable Compensation (Davis, CA-11)

Posted on 05/21/2013 by Cch

An individual shareholder of a closely-held S corporation was required by Code Sec. 83 to include in his gross income a compensatory stock option he exercised in the tax year at issue. Moreover, the S corporation properly deducted value of the … Continue reading →

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United Kingdom’s Windfall Tax on Privatized Companies Was Creditable Foreign Tax for Purposes of Foreign Tax Credit (PPL Corp., SCt)

Posted on 05/21/2013 by Cch

A unanimous Supreme Court determined that the United Kingdom’s windfall profits tax on several companies that were privatized between 1984 and 1996 was a creditable excess profits tax for purposes of the foreign tax credit. Accordingly, a United States taxpayer … Continue reading →

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