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Franchise Taxes Corporate Net Income

McDermott Will & Emery

ALJ: New York NOL Deduction Does Not Apply When Tax Is Not Paid on Income Base

McDermott Will & Emery on

A New York State Division of Tax Appeals administrative law judge (ALJ) recently determined that a banking corporation was not required to hypothetically use a net operating loss (NOL) deduction to decrease its entire net...more

McNees Wallace & Nurick LLC

New Corporation Tax Notices and Statements

In 2013, the Pennsylvania Department of Revenue implemented a “modernized” computer system for processing corporate tax returns and maintaining corporate tax accounts for Capital Stock Tax, Foreign Franchise Tax, Corporate...more

Allen Matkins

Are Corporations Profitable?

Allen Matkins on

Do corporations make a profit? I think it is beyond peradventure that some corporations make a profit. But do most (i.e., more than half) make a profit? If more than half do make a profit, how many more than half?...more

McNees Wallace & Nurick LLC

PA Capital Stock/Franchise Tax Phase-out Deferred; Related Party Addback Enacted; Numerous Other Tax and Credit Changes Made

On June 30th Governor Corbett signed a $28.4 billion state appropriations package which provides modest increases in some areas and flat funding in others. Although the popular press suggested that the budget included no...more

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