If Timothy Alan Simon has his way, California consumers will soon get nicked for a nonexistent tax, paying millions of dollars each year for a tax that will go not to finance government, but to enrich a monopoly.
Simon is a securities lawyer whom Gov...
Althou gh exceptions apply, a partner does not generally recognize gain or loss when he or she contributes property to a partnership. IRC Sec. 721(a) . See also Lexis Tax Advisor -- Federal Code, IRC Sec. 721(a) ; Lexis Tax Advisor -- Federal Topical...