Proposed Pa. House Bill Would Repeal Department of Revenue Disallowance of 100% Bonus
The recently enacted Tax Cuts and Jobs Act (“Act”) signed into law December 22, 2017 has brought significant changes to the federal tax system.
Geological and Geophysical Costs Now Amortizable Over 24 Months for Certain Non-E&P Companies
Generally, any geological and geophysical (G&G) expenses paid or incurred in connection with the exploration for, or development of, oil or gas within
New PA Withholding Requirement on Royalties, Bonus Payments, Rents and other Business Income
Under Act 43 of 2017, anyone that pays Pennsylvania-source non-employee compensation or business income to a non-resident individual or disregarded entity
New Limitation on Business Losses of Non-Corporate Taxpayers
The Tax Cuts and Jobs Act expanded certain pass-through limitations on losses for non-corporate taxpayers. The new provisions limit the aggregate amount