The Board also sought comment on whether it should continue to impose
a special capital requirement on section 20 subsidiaries in addition to the Securities and Exchange Commission's (SEC's) net capital rules.
Indeed, piercing the corporate veil to impose
personal liability for penalties for corporate tax reductions raises a plethora of questions about due process of law for employees and the companies by which they are employed.
"The regulation imposes
no affirmative duty on building owners to a tenant/mother is feeding lead paint chips to her child in the hopes of making some quick cash.
ATM operators, if unable to impose
surcharges, may be able to negotiate for an increase in the amounts received from networks, and such an increase could be passed on (via the account-holding bank) to consumers.
a 30% withholding tax on all U.S.-source fixed or determinable, annual or periodical income earned by the foreign insurer (unless reduced or eliminated by a treaty) that is not effectively connected with the conduct of a U.S.
The effect of the West Virginia fuel use tax on Hartley Marine's operations is to impose
a toll or charge for the navigation of the free highways of commerce maintained by the federal government.
In effect, Bonchonsky explained, "this bench has substituted its own judgment for that of the mayor and the City Council, who elected not to impose
an affirmative duty to inspect."
If a "persistent pattern of failure to effectively enforce" such laws is found, those bureaucracies can impose
fines on governments that refuse to take remedial action and can ultimately impose
trade sanctions if the fines aren't paid (or, in the case of Canada, obtain a court order in the Canadian judicial system mandating compliance).
Despite these very positive and welcome improvements, the legislation remains troublesome because it will impose
substantial and costly reporting burdens on compliant taxpayers.
Section 221 required that the FFIEC review the regulatory policies and procedures of the banking agencies and the Department of the Treasury to determine whether they impose
"unnecessary" burden on banking institutions and to identify any revisions that might reduce burden without endangering safety and soundness or without diminishing compliance with or enforcement of consumer laws.
Under interim rules, the Service will impose
a penalty under Sec.
On March 5, 1996, draft legislation was released that will impose
new and substantial information reporting requirements in respect of the foreign affiliates of Canadian taxpayers.