News & Analysis as of

Capitalized Cost

Marijuana Industry Tax Treatment in Oregon

by Garvey Schubert Barer on

Come tax time, taxpayers in the marijuana industry in Oregon may want to proceed with caution. Since Oregon is tied to the Internal Revenue Code—specifically IRC § 280E—for purposes of income taxation, deductions relating to...more

New Tax Rules for Tangible Property

by Davis Wright Tremaine LLP on

Progress always requires change, and progress in the way we tax tangible property is no exception. The tangible property rules have long been one of the murkier areas of the federal tax code. But new regulations — the last...more

Banks Not Required to Capitalize OREO Costs

The Office of the Chief Counsel of the Internal Revenue Service has issued a Legal Memorandum (Number AM2013-001, dated March 1, 2013) (the “Memorandum”), which has important implications and represents a victory for lenders...more

Assessment Appeals Commission Holds that Personal Property is Valued at Capitalized Cost

The Assessment Appeals Commission (“AAC”) of the Tennessee State Board of Equalization has reversed a 2011 administrative law judge decision, holding that intangible costs (such as freight, installation, engineering costs and...more

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