Tax Headlines

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Cumulative List of Changes in Plan Qualification Requirements Issued (Notice 2012-76)

The IRS has published the 2012 Cumulative List of Changes in Plan Qualification Requirements (2012 Cumulative List). The 2012 Cumulative List informs plan sponsors and practitioners of issues the IRS has specifically identified for review when determining whether individually designed single-employer plans filing in Cycle C have been properly updated.

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California ~ Corporate Income Tax: Physical Presence in Other State Required to Avoid Throwback of Sales Under Prior Law

Under California corporation franchise and income tax law in effect for taxable years beginning before 2011, a taxpayer whose only contact with another state was the sale of tangible personal property into that state is not taxable in that other state and, therefore, does not avoid the throwback of its sales to California for income apportionment purposes.

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