Jnet is the bilingual newsletter of KPMG's U.S. Japanese Practice. Published since 1997, Jnet is issued quarterly to update you on audit, accounting, tax, and other business issues relevant to Japanese companies operating in the United States.
Providing insights from 400 U.S. chief executives, this publication sheds light on how companies are transforming in times of extraordinary change. Due to rapidly evolving technology accelerating the pace of transformation, CEOs believe the next three years are more critical to their industry than the previous 50.
Tax professionals often encounter many of the same tax questions and issues in corporate acquisitions, but one issue generally requires many of us to think through the basic rules each time to reach the correct answer: In which tax period is the target entitled to deduct an amount paid to cash-out stock options? In this article, we go over the basic rules with regard to the deduction for a cash-out of stock options in an acquisition context.
On April 4, 2016, as part of a new guidance package addressing "inversion" transactions, the United States Department of the Treasury ("Treasury") unexpectedly released new proposed regulations (the "385 Regulations") that would fundamentally alter the U.S. tax treatment of intercompany financing within multinational groups.
In this section, we provide brief updates on regulatory developments in auditing and accounting that may impact Japanese companies in the United States.
In this section of Jnet, we provide brief updates on legislative, judicial, and administrative developments in tax that may impact Japanese companies operating in the United States.
The Federal Department of Labor (DOL) finalized a rule (Final Rule) on May 18, 2016 involving a new white collar exemption threshold of $47,476 a year for employees who currently work in positions and perform duties meeting any of the three white collar exemption classifications (Executive, Administrative, Professional). This is more than double the current level of $23,660 a year which has remained unchanged for over 10 years, with the last update occurring in 2004.
Download Jnet full newsletter in English (PDF 1.27 MB)