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12 results found

Article

Bradley Arant Boult Cummings LLP | USA | 23 Mar 2016

Changes to IRS Partnership and LLC Rules

You may have heard that the IRS’s ability to audit partnerships (including multi-member LLCs) will be greatly enhanced due to changes made by the

Article

Bradley Arant Boult Cummings LLP | USA | 8 Mar 2016

Beware New IRS PartnershipLLC Audit and Assessment Rules

You may have heard that the IRS’s ability to audit partnerships (including multi-member LLCs) will be greatly enhanced due to changes made by the

Article

Bradley Arant Boult Cummings LLP | USA | 18 Jun 2013

Mainevehicle transferred from majority owner to LLC exempt from salesuse tax

The Maine Superior Court held that the transfer of a motor vehicle from a majority owner of an LLC to the LLC was exempt from use tax. Me. Rev. Stat

Article

Bradley Arant Boult Cummings LLP | USA | 18 Jun 2013

Illinoisaircraft transfer from individuals to LLC subject to use tax

Four individuals who owned an aircraft together formed an LLC and inquired as to whether transferring the aircraft title to their LLC would

Article

Bradley Arant Boult Cummings LLP | USA | 18 Jun 2013

Washingtonsale of LLC controlling interest subject to real estate excise tax

The Wisconsin Court of Appeals affirmed the Department of Revenue's denial of the taxpayers' request for refund of real estate excise tax ("REET")

Article

Bradley Arant Boult Cummings LLP | USA | 18 Jun 2013

Coloradono capital gain subtraction on sale of LLC’s assets

In a recent private letter ruling, the Colorado Department of Revenue held that an LLC and its members could not reduce their Colorado taxable income

Article

Bradley Arant Boult Cummings LLP | USA | 18 Jun 2013

Arizona members not entitled to deduct payment of LLC’s expenses

The taxpayers, members of an LLC, filed their Arizona resident individual income tax return for tax year 2006 claiming Schedule C expenses they paid

Article

Bradley Arant Boult Cummings LLP | USA | 18 Jun 2013

Entity-level taxes

The State Board of Equalization recently ruled that a California LLC that filed a certificate of cancellation with the Secretary of State’s office

Article

Bradley Arant Boult Cummings LLP | USA | 7 Jul 2011

Are members of an LLC personally liable for their LLC’s sales and payroll taxes?

Chief Administrative Law Judge Bill Thompson recently affirmed his 2010 ruling that the individual members of a multi-member LLC are not personally liable for withholding (payroll) or sales taxes owed by the LLC, unless they qualify as “responsible persons” under the state’s 100 penalty statute

Article

Bradley Arant Boult Cummings LLP | USA | 6 May 2011

House of Representatives votes out two major business tax bills

On a vote of 93-4 on Wednesday, May 4, the Alabama House of Representatives approved House Bill 434, which would amend Article IV of Alabama Code 40-27- 1, i.e., Alabama’s version of the Multistate Tax Compact, to double-weight the sales factor in the currently equally-weighted three factor formula used to apportion business income to Alabama.

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