Final regulations govern Sec. 965 transition tax

IRS Tax News – Final regulations govern Sec. 965 transition tax The IRS finalized proposed regulations issued last August on the new transition tax, which generally taxes the accumulated post-1986 deferred foreign income of a corporation. Source: IRS...

Does Your State Tax Manufacturing Machinery?

Tax Policy – Does Your State Tax Manufacturing Machinery? State sales tax bases have two key areas in need of improvement: in some ways, they are too narrow, and in other ways, they are too broad. State sales tax bases have narrowed over time as new...