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Sec. 338(h)(10) Deemed Sale Gain Is Not Business Income
July 7, 2020
In 1997, AS, a foreign corporationbut an Illinois taxpayer, was owned by ASFC. More than 80 percent of ASFC's stock was owned by L, an Indiana corporation.<...

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Recent Reports

Renter Retains Full Homestead Tax Exemption
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R was the sole owner of his home and used it as his permanent residence. In 1996, R applied for and received a homestead exemption on 100 percent of his residence, and he conti...
Montana's "No-Aid" Provision Is Unconstitutional
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In 2015, the Montana Legislature sought "to provide parental and student choice in education" by enacting a scholarship program for students attending private schools...
Best Buy Is A Retailer Of Appliances
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Best Buy is a retailer of consumer electronics and appliances. BB also sometimes installs appliances in the purchasers' homes. If the customer has Best Buy deliver and inst...
Charitable Contribution Not Allocable To Tax-Exempt Income
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An organization described in Sec. 501(c)(3) of the Code, ("Organization"), files a Return of Organization Exempt From Income Tax (Form 990). Organization also files a...