Ohio Businesses Should Brace For Use Tax Tsunami
The Ohio use tax has only been on the books since 1936. It takes a while for the word to get out. So when the state decided to get serious about collecting use tax from the over 300,000 businesses that look like they should be paying it, they started with an amnesty program, which ended yesterday – May 1, 2013
Tough IRS Position Means More Trusts Will Get Hit With New ObamaCare 3.8% Tax
The companies involved in the ruling were making money, but the passive activity rules were relevant because of an AMT gotcha, that references the passive activity loss rules. In computing alternative minimum taxable income, research and development costs have to be capitalized and amortized over ten years if you are not materially participating in the activities.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.