Having thus fostered bad tax policy within the state, the Court of Appeal's opinion will inure to
the detriment of multistate taxpayers beyond the borders of California, frustrating the goal of uniform and equitable tax administration among the states.
It states, with enumerated exceptions, "the assets of a plan shall never inure to
the benefit of any employer and shall be held for the exclusive purposes of providing benefits to participants in the plan and their beneficiaries and defraying reasonable expenses of administering the plan.
When a homeowner executes a refinancing, does that party's additional deductions from higher interest rates, that inure to
a household, siphon off much needed money for consumers to spend in the economy - if it gets credited back at the end of a tax year?
Section 501(c)(3) of the Internal Revenue Code provides exemption from federal income tax to organizations organized and operated exclusively for charitable purposes as long as no part of the organization's net earnings of inure to
the benefit of any private shareholder or individual.
Even though the broker was not party to the contacts of sale, the Court ruled that the contact clauses made specific reference the broker's representations, and thus, these barring provisions of the contract inure to
the broker's benefit.
One type of benefit sought to be obtained from grantor trust treatment - exemplified by the "defective-trust" - is the payment of income tax by the donor on income that will inure to
the benefit of other family members (such as children), who are remaindermen of the trust.
The IRS also determined that arrangement did not cause any earnings or benefits to inure to
Also, the disintegration of communism in Europe will have an enormous impact on private sector expansion in business, which, of course, will inure to
the benefit of New York since all of these countries will be represented here in many different industries.
By using a GRAT to transfer appreciating property to a younger generation, a family can increase its overall net worth, by reducing the gift and estate taxes associated with the transfer and shifting, during the trust's term, the income tax burden to senior family members while the benefits inure to
the benefit of the junior family members.
Similarly, net earnings may inure to
the benefit of an individual in ways other than through the distribution of dividends.