LexisNexis® Legal Newsroom
Peter Miller
Caveat: Tax Surprise For Pensioners Filing in 2010

Here's a plan-ahead tip for retirees: Expect a bump in your tax bill when you file your federal tax returns next year. Private and public pensioners who have no employment income don't qualify for the " Making Work Pay " tax credit for...

Jyoti Dialani
Joint Ventures with Indian Companies Prone to Higher Taxes

A ruling by the Authority for Advance Rulings in India could adversely impact foreign companies entering into joint ventures (JVs) with domestic Indian entities. The importance of incorporating the right clauses in, and careful drafting of, JV agreements...

David Altman
The Deduction for Energy Efficient Buildings Under IRC Section 179D

A deduction is available for the cost of energy efficient commercial building property placed in service before January 1, 2014. A partial deduction is allowed for energy savings systems that are not part of a plan to reduce the building's energy...

Jyoti Dialani
India Taxes Delta Airline's Baggage Screening, 3rd Party Charter Handling Income

A recent ruling of the Mumbai Income Tax Tribunal in India in the case of Delta Airlines Inc., an American airline company has held that the company is not entitled to treaty benefits of exemption on certain incomes derived from related activities. Delta...

Mark A. Muntean
One-Year Tax Credit Window Open to New Construction Home Buyers in California

Briefly stated, for the period from March 1, 2009 to February 28, 2010, a California taxpayer who purchases a qualified principal residence in California that has never been occupied (new construction) may be allowed a tax credit equal to the lesser of...

Mark A. Muntean
Motion Picture Tax Credit Part of California Budget

Everybody tells me I ought to be in pictures. The 2009 California budget signed by the Governor in February 20, 2009, makes that more of a possibility. The 2009 California budget adds new Cal. Rev. & Tax. Code § 17053.85 for individuals, and...