Araco Corporation

• Toyota Boshoku America to Build New Plant in Itawamba County, Mississippi.

... Yoshikawa, Chairman of Toyota Boshoku Corporation, and Kiyoshi "Nate" Furuta, Chairman and CEO of To...In 2004, Toyota Boshoku merged with Araco Corporation and Takanichi Co., Ltd. to become Toyo...

• Business Wire
• August 28, 2007

• California's Central Valley.

Corporate Relocation

... Controls, Toyota Tsusho America, and ARACO Corporation, established a 100,000 square foot man...

• Los Angeles Business Journal
• May 25, 1992

• Business/nonbusiness income distinction subject to challenge.

A survey of state case law on whether proceeds from the sale of business assets should be treated as apportionable business income or nonbusiness income subject to taxation in one jurisdiction reveals differing interpretations of the Uniform Division of Income for Tax Purposes Act. The transactional test and functional test for whether income not from the trade or business is business or nonbusiness income were applied in Pennsylvania. Iowa and Kansas courts focused on the transactional test and eliminated the functional test.

A multistate corporation may be required to pay income tax in all the state... Commonwealth Court decision, Ross-ARACO Corp. v. Commonwealth, 644 A.2d 235 (1994), in whi...

• The Tax Adviser
• Vol. 26 Nbr. 6, June 1995

• When does the sale of corporate assets produce business income for state corporate franchise tax purposes?

Taxpayers must consider two tests for the application of state corporate franchise taxes to business income from sales of corporate assets. States often follow the Uniform Division of Income for Tax Purposes Act, which has a definition of business income, and the tests ascertain if the act's definition applies. One test is transactional and the other is functional. Case law exists for both tests, and the Multistate Tax Commission has regulations which use the functional test to define business income.

... among the various States in which the corporation does business or it is allocated entirely to one o.... In Ross-Araco Corp. v. Commonwealth of Pennsylvania, the taxpaye...

• Tax Executive
• Vol. 47 Nbr. 3, May 1995