US Moves to Reduce Pollution From Power Plants
The US Environmental Protection Agency published two proposed emission standards in the Federal Register in late January that will require spending on costly new pollution control equipment at man...
New Rules For Off-Balance-Sheet Financing
In most infrastructure deals, a special-purpose company is formed to own the project. The project company often has more than one owner...
FERC Focuses On Issues Affecting LNG
The Federal Energy Regulatory Commission took two actions that could affect the market in the United States for liquefied natural gas, or “LNG...
SEC Signals Tougher Stance On PUHCA Exemptions
Enron lost a fight with the US government in late December over whether it was exempted from burdensome regulatory requirements under the Public Utility Holding Company Act, or “PUHCA...
Tax Strategies For Financing Landfill Gas Projects
Landfill gas operations in the United States throw off tax and other benefits that savvy developers and municipal landfill owners figure out how to tap...
Libya Opens For Investment
Western companies are eyeing Libya as a possible market for investment — particularly in the oil and gas sector — but any investments by US companies will have to wait until sanctions are lifted...
Oil And Gas Projects In Kazakhstan
New tax rules that took effect in January in Kazakhstan help clarify the tax treatment of oil and gas projects in the country...
Update On Luxembourg Holding Companies
Most US companies investing in infrastructure projects in other countries set up offshore holding companies through which to own the investments...
Environmental update
The Bush administration lost a major round in court in its effort to create a “bright-line test” for letting power companies avoid expensive environmental permitting requirements for some work on existing ...
A Coal Industry Case
A coal industry case in the US courts may have broad implications for other industries...
Confidentiality Agreements
Confidentiality agreements no longer need to contain boilerplate language allowing the parties to disclose the “tax treatment” and “tax structure” of the transaction...
A US Wind Farm
A US wind farm is being sued for killing birds. Law students at the University of Denver filed the case in a federal district court in California in mid-January...
Peru
Brazil
BRAZIL discouraged foreign investors from using offshore holding companies in tax havens to make inbound investments into Brazil.
Hungary
Hungary reduced its corporate tax rate to 16% on January 1...
Sales “Throwback Rules”
Sales"throwback rules" are becoming a thorn in the side of large companies operating in the United States...
Use Taxes
Use taxes are a danger when companies offer free or discounted equipment to encourage customers to use their services...
Oil and Gas Reserve Calculations
Oil and gas reserve calculations are receiving scrutiny from the US Securities and Exchange Commission...
Natural Gas Drilling
Natural gas drilling in the shallow water regions of the Gulf of Mexico got a boost from the US government...
Corporate Guarantors
Corporate guarantors do not have taxable income as a consequence of being released from their guarantees, the IRS said...
A Worthless Stock Deduction
A worthless stock deduction can be triggered by filing a form to treat a subsidiary as a “disregarded entity,” the IRS said in December...
Most Depreciation Adjustments
Most depreciation adjustments that US companies make on their own will require advance approval from the government, the IRS asserted in late December...
Foreign Disregarded Entities
Foreign disregarded entities will have to be reported each year to the IRS, under new rules announced in late January. The first reports are due when 2004 income tax returns are filed...
“Fees” on Utilities
"Fees" on utilities imposed by local governments are struck down by state courts if they are in reality taxes on utility services...
Pennsylvania
Pennsylvania said independent power companies must pay a gross receipts tax on sales of electricity directly to end users. Solar Turbines, Inc...
West Virgina
West Virgina declined to let a company claim credit for sales taxes it paid neighboring states on gravel and other inputs used for making asphalt against the use taxes that West Virginia collects ...
Minor Memos
Starting in 2004, corporations with at least $10 million in gross assets
will have to file a new schedule with their corporate income tax returns ...
subscribe
