While area contractors have focused on the increase in retrofit demand from the building management community, thousands of chiller systems will still be operational for at least a decade, and must continue to rely on CFCs
for a range of reasons.
The due date for filing an application on behalf of a CFC
or non-controlled Sec.
32) Earnings apparently are taken into account only for periods during which F satisfied the stock ownership requirements for CFC
status, since only those earnings count for purposes of section 1248.
954(c)(6) will allow taxpayers more flexibility in redeploying active trade or business earnings among related CFCs
without creating additional U.
In contrast, CFCs
, which are insoluble, eventually rise to the ozone layer, where they can survive for decades.
through such measures as leak detection and recycling drop-in" substitutions
which will report on its attempts to use a chemical blowing agent as a drop-in replacement for CFCs
in both rigid and flexible foams.
The companies generally retain the subsidiaries for several reasons: (1) the cost of liquidating the CFCs
is prohibitive; (2) the liquidation of the company may take several years because of the complexities of foreign laws; (3) the shell corporation may protect the corporate name in a given country; or (4) companies may keep "shelf corporations" in some countries (such as Thailand and Malaysia) in case business activities are resumed in that country in the future.
Observation: This provision affects all CFCs
, not just those with subpart F income.
have been banned in developed countries since 1996 for all but a few essential uses, including inhaled treatments for asthma.
shareholder a deduction equal to 85% of cash dividends received during the tax year from CFCs
and invested in the U.
Through a treaty called the Montreal Protocol, most nations have agreed to cease production and use of CFCs
by 1993 and eliminate some other ozone-destroying chemicals at later dates.