Deconstructing and reconstructing consolidated tax savings for public utilities
Stand-alone accounting should be used rather than consolidated tax adjustments when public utility companies receive tax benefits from consolidating returns with affiliated companies that are unregulated. The stand-alone method best meets national energy concerns, tax policy objectives and equity principles, allowing public utilities to receive the same tax benefits as private businesses. Under stand-alone accounting, a normalized cost of service is used with no consolidated tax adjustment. The confusion on this issue which has been created by recent case law and Treasury Regulations should be resolved through legislative action.
Publication Name: Virginia Tax Review
Behind the General Utilities Doctrine, or Why Does the General Have So Much Support from the Troops?
The repeal of the General Utilities doctrine would benefit the United States tax system. The General Utilities & Operating Co. case was decided in 1934. Arguments in support of the doctrine are unreasonable, illogical, and irrelevant. Yet it is still strongly defended by tax teachers and practitioners. Professionals resist change and fear corporate tax reform.
Publication Name: Taxes: The Tax Magazine
Stamp.com PC Postage, is an impeccable service, which is used to print real United States Postal Service (USPS) postage on home computer.
Publication Name: Law Office Computing
- Abstracts: The acquisition of reconstructed tax loss companies and trusts. The loss of another tax loophole
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- Abstracts: Self-Regulation - Criticisms and a Response. The legal response to the wide-spread poisoning of farmworkers from pesticide exposure