The Tax Cuts and Jobs Act of 2017 H.R.1 There was a flurry of activity within the valuation community following passage of the Tax Cuts and Jobs Act of 2017 (TCJA) and several complicated tax calculation models were unveiled. While we acknowledge the TCJA is beginning to show a noticeable impact on the level of our value conclusions, how much of an impact ought it really have on the way we perform our work? In this article, the author reviews salient features of the TCJA and concludes with some thoughts and suggestions for retaining common sense and applying simplicity to…
-
-
How Some States Treat Net Operating Losses in Reorganizations A number of states still require corporations undergoing a merger or reorganization to meet a continuity-of-business-enterprise test before they can carry over net operating losses, a rule that hasn’t been in effect federally since the 1954 Internal Revenue Code was enacted. Ann Holley and Caralee Hall explain. To read the full article in The Tax Adviser, click: A 1939 Frame of Mind: Old-School NOL Carryover Rules Prevail in Some States.