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LexisNexis Tax Center
Praxair Technology, Inc. v. Director, Div. of Taxation, 404 N.J. Super. 287 (App.Div. 2008)

The New Jersey Tax Court erred by finding a foreign corporation liable under the Corporation Business Tax, N.J.S.A. §§ 54:10A-1 through -41, for the 1994-1996 tax years as the Tax Court failed to consider the amendments in 1996 to N.J.A.C. 18...

Richard Niles
Tax Health Benefits? Reasonable Limits on Taxation Could Work

Congress is considering ending the tax exclusion on employer-provided health insurance benefits to save billions of dollars to help pay for comprehensive health insurance coverage. Many employees don't realize that they have this valuable benefit...

Andrew W. Swain
State Income Taxes Decoupled From IRC on Cancellation of Debt Income

The recently enacted American Recovery and Reinvestment Act of 2009 amended IRC § 108 by adding a provision cancelling debt income. This provision allows taxpayers to elect to defer the recognition of income realized from the discharge of indebtedness...

Peter Miller
Is Reform a Dead Letter for 52-Year Old UDITPA?

The National Conference of Commissioners on Uniform State Laws ("NCCUSL") approved the Uniform Division of Income for Tax Purposes Act ("UDITPA" or "Act" ) in 1957, recommending its adoption by the states to promote a homogeneous...

LexisNexis Tax Center
Business Valuation by Accountants: Key Support Service to Legal Community

Business valuations are often required or advisable in divorce settlements, buy/sell agreements, estate and gift tax computations, and similar situations. These valuations may also be prepared as part of feasibility studies related to the acquisition...

Sean Craig
When Will High Court Hear State Corporate Tax Nexus Case?

On June 22, 2009, the U.S. Supreme Court denied cert in two Massachusetts corporate excise tax cases: Geoffrey, Inc. v. Comm'r of Revenue, 453 Mass. 17 (Mass. 2009) , cert denied, U.S. S. Ct., Dkt. No. 08–1207, 06/22/2009 and Capital One Bank...