Pension update: an interview with consultant Larry B. Wiltse

Article Abstract:

Buck Consultants director of forecasting and planning Larry B. Wiltse discusses financial accounting standard (FAS) number 87, which was issued in Dec 1985 and affected accounting for pension plans. Wiltse sees FAS 87 as a definite improvement over its predecessor, APB 8. Corporate pension plans are also affected by rules imposed under the Pension Protection Act of 1987, which denies deductions for contributions to plans whose assets are over 150% of current liability. Wiltse discusses the effects of stock market volatility and changes in pension funding law on pension fund investing.

Standards, Accounting and auditing, Accounting, Pensions, Pension funds, Business consultants, Management consultants, interview, Wiltse, Larry B.

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What's new in state taxation

Article Abstract:

New tax responsibilities and challenges for the corporate tax manager have resulted from recent developments in local and state taxation. Several states have passed laws in the last year that impose a responsibility to collect state sales and-or use taxes from a growing number of out-of-state sellers. States have also joined in reciprocal agreements with other states to share information about interstate sales in order to promote compliance with use tax laws. Tax structures at the local and state level have also had to be adjusted in response to the Tax Reform Act of 1986.

Analysis, Sales tax, State taxation, Use tax, Use taxes

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