What corporate America needs to know about unclaimed property: a primer for the business holder.
From: Tax Executive
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Date: 7/1/2002
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Author: Andreoli, Anthony L.; Cutler, Stephanie; Schaunaman, G. Samuel, II
I. Introduction
Accounting personnel who work "in the trenches" of a company's day-to-day financial operations often grapple with such questions as: "How should I treat uncashed vendor checks and payroll checks?" "Can such amounts be taken into income?" "Must they be reported and paid to a state and, if so, which state is entitled to the unclaimed funds?" The answers lie in the state statutes known as the unclaimed property laws. These statutes governing the disposition of ...
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