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2007 SESSION

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HB 2920 Income tax, personal and corporate; statute of limitations for abuse tax avoidance transactions.

Introduced by: Stephen C. Shannon | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Abusive income tax avoidance transactions; statute of limitations.  Extends from three years to six years the period in which the Department of Taxation may assess income tax for any tax return filed based in whole or in part on an abusive tax avoidance transaction. An "abusive tax avoidance transaction" means a transaction that has been identified by the Tax Commissioner as such a transaction and that has been published by the Tax Commissioner.


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