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Corporation tax up 32.5% in August - Dept of Finance

Corporation tax payments shot up by 32.5% last month to €2.8 billion when compared to August 2025, partly due to some large multinationals being charged a higher rate of tax.

State Treasury reports July revenue collections higher as new fiscal year begins

The Department of the Treasury reported on Aug. 14 that July revenue collections for major taxes totaled $3.632 billion, up $306.4 million, or 9.2%, from last year as the new fisca...

What Is the Corporate Income Tax Formula?

Discover the essentials of the corporate income tax formula in our comprehensive article. Learn how to calculate corporate taxes, understand key components, and explore implication...

Predecessor Losses, the Lonely Parent Rule, and the Limits of Economic Reality: Analysis of HBM Holdings Co. v. Commissi...

HBM Holdings Co. v. Commissioner, 167 T.C. No. 6 (July 27, 2026) The United States Tax Court recently issued a reported decision in HBM Holdings Co. v. Commissioner, 167 T.C....

Cost Drivers for Reincorporations

Although there has been substantial discussion on differences in state corporate law driving incorporation choices, not as much attention has been paid to cost differentiation betw...

Large firms paid extra €1.1bn in corporation tax on foot of higher 15pc rate in July

Corporation tax up 33% last month as fiscal watchdog warns of increased spending

Total tax revenues collected so far this year amount to €66.3 billion, up by €3.9 billion on last year.

CBDT grants retrospective income tax exemption to BBNDA under Section 10(46)

The CBDT has granted the Baddi Barotiwala Nalagarh Development Authority (BBNDA) a retrospective income tax exemption under Section 10(46) of the Income-tax Act, 1961. The exemptio...

2026 Updates to Corporate Transparency Act

In 2021, the United States Congress enacted the Corporate Transparency Act (CTA) to combat money laundering, terrorism financing, securities fraud, and other illicit financial acti...

Nebraska District Court Holds That the State Must Devise an Equitable Apportionment Formula for Apple’s One-Time TCJA Tr...

In Apple Inc. and U.S. Subsidiaries v. Nebraska Department of Revenue, Case No. CI 24-4186 (Lancaster Cnty. Dist. Ct., July 13, 2026), a Nebraska district court reversed the Tax Co...

Transitioning Foreign Tax Allocations and Implementing the Ten Percent Credit Disallowance Under Section 960(d)(4)

Section 898(c) Transition Rule for Allocating Foreign Taxes and Section 960(d)(4) Foreign Tax Credit Disallowance, REG-115145-25, July 31, 2026 The Department of the Treasury...

Flying Under the Tax Radar: How Profitable Airlines Avoided Federal Income Taxes in 2025

Corporate tax disclosures reveal that five profitable airlines paid almost nothing in federal income tax last year. In 2025, the effective federal income tax rates of these airline...

Bloomberg: Business Group Urges Tax Court to Stop Covid-19 Interest Accrual

David Schultz (Bloomberg), Business Group Urges Tax Court to Stop Covid-19 Interest Accrual: Interest that accrued on unpaid taxes during the Covid-19 pandemic should be wiped out...

New ITEP analysis: Six Companies Reaped Record-Setting $83 Billion in Federal Tax Breaks Last Year

Just six companies received $83 billion in federal income tax breaks in 2025, the latest evidence that corporate tax avoidance has been turbocharged by the 2025 Trump/GOP tax law....

Six Companies Reaped $83 Billion in Federal Tax Breaks in 2025

Six companies alone accounted for $83 billion of federal tax breaks disclosed by publicly traded U.S companies so far for 2025. Microsoft received a record high for single-year fed...

Net direct tax collection grows over 16% so far in FY27

Net corporate tax collection grew over 22% to around ₹2.40 lakh crore, while net non-corporate tax collection recorded increased around 12% to ₹3.85 lakh crore

Stopping the P.L. 86-272 Evasion

It is no secret that States abhor the protections afforded companies by P.L. 86‑272—the federal provision that prevents States from imposing an income tax in certain circumstances....

Form 1120-S Instructions: How to File IRS 1120-S for S Corps

Updated for tax year 2025 Form 1120-S is a crucial tax document for small business owners of S corporations. If […] The post Form 1120-S Instructions: How to File IRS 1120-S for S...

Treasury’s Excluded Property Sales Income Regulations under Section 250: Deconstructing the Proposed Guidance for Tax Pr...

Application of Section 250(b)(3)(A)(i)(VII) to Sales or Other Dispositions of Property, REG-117130-25, 91 Fed. Reg. _____ (proposed Aug. 20, 2026) (to be codified at 26 C.F.R....

Which States Have Not Decoupled from QSBS in 2026?

QSBS allows millionaire investors to pay zero income tax on their profits.

Navigating the Corporate Transparency Act: BOI Report FinCEN Deadlines

A monumental shift in corporate compliance has taken effect in the United States, fundamentally altering the reporting obligations for millions of small businesses. The Corporate T...

A Competitive Corporate Tax Code is Key to Sustaining Strong Economic Growth

The 12-year history of Tax Foundation’s ITCI shows that tax policy is constantly in flux around the world and that tax policy design choices matter for economic growth.

Pro Rata Share Determinations Under the One, Big, Beautiful Bill Act: Analysis of the Proposed Regulations

Pro Rata Share of Subpart F Income, Tested Income, or Tested Loss, REG-115646-25, 91 Fed. Reg. _____ (proposed Aug. 26, 2026) The Department of the Treasury and the Internal R...

The Tax Adviser: Effect of the new pro rata share rules

Elizabeth Nelson (CPA,), J.P. Gregory (CPA), and Katrelle Harvey: Effect of the new pro rata share rules: Recent changes to the rules related to the deduction for certain foreign d...