Section 118 provides “[i]n the case of a corporation, gross income does not include any contribution to the capital of the taxpayer.” The regulations promulgated under Section 118 under prior law provide, with respect to...more
5/17/2018
/ Capital Contributions ,
Corporate Taxes ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Property Tax ,
Shareholders ,
Tax Cuts and Jobs Act ,
Tax Incentives ,
Tax Increment Financing ,
Tax Reform ,
Trump Administration
Effective January 1, 2015, the method of issuing tax assessments and the informal conference process available to taxpayers will be revamped. 2014 Tenn. Pub. Acts 854. Touted as being more taxpayer-friendly, the two most...more