Public Act 04-216 (HB 5692), Laws 2004, requires most passthrough entities
to file a group return on behalf of their nonresident individual partners, or pay the highest marginal tax rate on the nonresident partners' distributive share of Connecticut partnership income.
do not report the remaining and vast majority of federal PP&E (such as federal parklands, weapon systems and monuments) on federal balance sheets.
65-17 should address how much flexibility a taxpayer has in determining which options to select, for which issues, in which amounts, and for which entities
That's not the opinion of FASB's Ronald Bossio, who is spearheading the drive for a new ED to define when entities
should be included in consolidated financial statements.
A "financing arrangement" is defined as a series of at least two "financing transactions" in which a lender advances money or other property, and a borrower receives money or other property, if the advance and receipt are brought about through one or more intermediate entities
(IE) and there are financing transactions linking the lender, each IE, and the borrower.
Ethics Interpretation 101-3, Performance of Other Services, provides general guidance to auditors of all entities
on the effect of nonattest services on the auditor's independence.
Further clarification of the special exception is also required to apply the pass-through treatment to one-member entities
permitted under current law.
Such evaluations typically are performed in the course of assigning a Best's Financial Strength Rating (FSR) to insurance entities
within an organization.
Until that time, affected entities
can continue to use Notice 99-6.
The CAT is imposed on any individual or entity regardless of organizational form including, but not limited to, corporations, passthrough entities
that are disregarded for Federal income tax purposes.
More fundamentally, TEI believes there needs to be some mechanism to monitor changes in foreign statutes and to receive taxpayer input on entities
to be removed from the list.
should apply section 172, including the subsection relating to product liability losses, at the consolidated--not the separate-entity--level.
Almost certainly, there will be more investigation and scrutiny by the IRS, whose Tax-Exempt and Government Entities
Division has already shifted significant resources to abusive tax transactions.
XML Catalogs defines mechanisms to facilitate machine processing of XML entities
associated with external identifiers, allowing references to web resources, such as files, images, stylesheets, and schemas, to be mapped to other resources.
Yet, without effective tax planning, income may easily be taxed two or more times as it is shifted among various entities
within the organization.