For example, some Member States treat the entire amount of a lease payment as subject to VAT whereas other Member States treat the capital portion of the lease payment as taxable
and the financing element as exempt.
Burke referred to IRC section 703(a), which requires a partnership's taxable
income to be computed in the same manner as an individual's taxable
income, and cited a series of cases in which individuals did not have to report taxable
income that had restrictions on the money's use.
The program provides mortgages through the sale of taxable
In Situation 1, neither state law nor the Trust's governing instrument contains any provision requiring or permitting the trustee to distribute to G amounts sufficient to satisfy G's income tax liability attributable to including Trust's income in G's taxable
To increase profits, WR Lazard is honing in on taxable
industrial development revenue bond deals, where profit margins are greater than those on straight tax-exempt public finance deals.
The other major concern with Statement 96 is that, because it assumes "no future events," the tax benefit of deductible temporary differences and carryforwards can be recognized only to the extent that they offset either actual taxable
income reported in the carry-back period or future reversals of taxable
The second step is to determine the proper form to use to report the taxable
(5) The Technical Corrections Act amended portions of section 199, and these amendments are effective for taxable
years beginning after December 31, 2004.
She excluded the $11,855 of workers' compensation as "not paid by SSA" because she believed the workers' compensation offset was not includable in taxable
In the last few years, the Internal Revenue Service (IRS) has provided specific guidelines for qualified tenant construction allowances not to be treated as taxable
If the XYZ stock is then worth $20 per share, Tim would have $19,000 of taxable
compensation income to report in 2007.
Under this section, a qualifying taxpayer can take a deduction equal to a percentage of the lesser of its taxable
income or qualified production activities income (QPAI).
The penalty tax is applied to the corporation's accumulated taxable
income, which becomes taxable
income with several adjustments.
If a taxpayer has an understatement of tax due to a reportable transaction for any taxable
year, a penalty will be imposed equal to 20 percent of the amount of the understatement.
While the process to avoid taxable
income may appear simple and straightforward, it is important that both tenant and landlord make sure the treatment of construction allowances is specified in their agreement.