Life Sciences Quarterly: Tax Cuts and Jobs Act: Implications for Life Science Business
Tax Developments Affecting Health Care Organizations and Investor-Owned Hospital Companies
On August, 15, 2020, the Internal Revenue Service (IRS) issued PLR 202033002, in which it addressed whether cost of removal (COR) is “protected” by the normalization rules of section 168(i)(9). COR is often embedded in a...more
The affiliated group of which a taxpayer-utility was a wholly owned subsidiary filed tax returns on which it did not claim bonus depreciation since the availability of bonus depreciation had temporarily expired. Following the...more