A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Tax Liability Not an Operation Expense
Organized as a subchapter S corporation, South Haven, Indiana, Water Works (SHWW) did not pay or incur income taxes as a taxable entity. Its income flowed through to the shareholders, who had to report it on their individual tax returns. SHWW petitioned for an increase in its water service and sewage disposal rates for its rural Porter County service area. The utility regulatory commission concluded that SHWW could not recover through increased rates the individual income tax attributable to the shareholders.
Tax Liability Not an Operation Expense
Organized as a subchapter S corporation, South Haven, Indiana, Water Works (SHWW) did not pay or incur income taxes as a taxable entity. Its income flowed through to the shareholders, who had to report it on their individual tax returns. SHWW petitioned for an increase in its water service and sewage disposal rates for its rural Porter County service area. The utility regulatory commission concluded that SHWW could not recover through increased rates the individual income tax attributable to the shareholders.
Tax Liability Not an Operation Expense
1994-06-01
1 pages
Article (Journal)
Electronic Resource
English
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