With the tax consequences of the employee and employer intertwined, an employer that maintains home purchase programs for its relocating
employees should be aware of the tax outcomes for both parties.
To be eligible factories will be required to employ more than 100 workers within two years of relocating
; headquarter 50 employees; and R&D centers 30.
Among those moving base are Biovail Technologies, relocating
from Sandyford, GE Capital, moving from Tallaght and Nestle, relocating
This intriguing catalogue, accompanied by a CD-ROM, was published on the occasion of Piper's traveling exhibition "Relocating
the Remains," which originated at the Institute of International Visual Arts, in the summer of 1997.
Air Liquide America is relocating
its corporate center to Houston, TX.
An individual who sells a principal residence when relocating
outside the United States may have up to four years to purchase (or build) and occupy a new principal residence to defer the gain on the former residence's sale; the normal 24-month period for investing in a new home may be frozen for up to two years after the date of the former residence's sale.
Under its contract with the relocation companies, the computer manufacturer would pay a service fee and all costs the companies incurred in helping relocating
employees sell their homes.
The Tax Court in Badger Pipe Line Co., TC Memo 1997-457, ruled that a petroleum pipeline corporation could deduct costs associated with relocating
and replacing 1,000 feet of pipeline, because these costs were commonly incurred in the corporation's normal course of business and were necessary to keep the pipeline in working order.
Sanit Group is relocating
from a warehouse in Jamaica, Queens.
70-392, the Service held that labor and transportation costs for relocating
the existing physical assets of a group of regulated electric utility companies were deductible under Sec.
Brookfield Properties Corporation announced that it has leased 135,600 s/f at The World Financial Center downtown to two firms relocating
Testoni, fashion footwear and apparel for the quality obsessed, relocating
to the posh Sherry Netherland at 59th Street and Fifth Avenue, across from the new Apple store.
MoviebankUSA is relocating
from separate Manhattan office and New Jersey warehouse facilities.