NYC Pitches Following MTC Position On Internet Activities
New York City would follow the Multistate Tax Commission's position on when a company's internet activities exceed P.L. 86-272's protections against income taxes under regulations proposed by the city's tax agency.
Modeling Needed To Gauge Private Equity's Interest Deduction
The Republican budget law's revival of a more generous business interest deduction has energized private equity deals that heavily rely on loans, though investors must run detailed financial modeling to measure how much the perk might truly pay off.
French Digital Tax Ruling Puts Spotlight On Trade Tensions
A French court decision that upheld the nation's digital services tax could bolster similar measures in other European Union member states, but legal backing may mean little if countries use DSTs as bargaining chips in tariff negotiations with the United States.
NYC Pitches Following MTC Position On Internet Activities
New York City would follow the Multistate Tax Commission's position on when a company's internet activities exceed P.L. 86-272's protections against income taxes under regulations proposed by the city's tax agency.
Modeling Needed To Gauge Private Equity's Interest Deduction
The Republican budget law's revival of a more generous business interest deduction has energized private equity deals that heavily rely on loans, though investors must run detailed financial modeling to measure how much the perk might truly pay off.
French Digital Tax Ruling Puts Spotlight On Trade Tensions
A French court decision that upheld the nation's digital services tax could bolster similar measures in other European Union member states, but legal backing may mean little if countries use DSTs as bargaining chips in tariff negotiations with the United States.
Federal More
President Donald Trump signed an executive order Friday to begin anticipated tariffs on heavy and medium trucks on Nov. 1, while expanding a program that domestic auto manufacturers are already utilizing for r... (more story)
A New Mexico medical marijuana company said Friday that a federal policy barring cannabis enterprises from taking ordinary business deductions should not apply, and the company is entitled to a refund for overpayment.
The Third Circuit declined Friday to reconsider a panel decision allowing the IRS to pursue a woman's unpaid taxes more than 20 years later — well after the normal three-year deadline — because her return prep... (more story)
Emergency tariffs imposed by President Donald Trump are creating extraordinary economic threats under a law that was intended to protect U.S. retailers from such harm, a Virginia-based electronics company told... (more story)
The federal court system has run out of money and will scale back operations beginning Monday as a result of the ongoing government shutdown, possibly leading to case delays.
Covington & Burling LLP has grown its tax practice in Washington, D.C., with the addition of a former special counsel in the Office of Chief Counsel at the Internal Revenue Service.
An estate challenged $4 million in taxes the Internal Revenue Service said it owes, telling the U.S. Tax Court that the agency made valuation mistakes related to loans for autism research and interests in comp... (more story)
State & Local More
Chicago Mayor Pitches 'Head Tax' Revival, Other Changes
Chicago's mayor has floated a host of tax increases and changes in his budget presentation, including a tax on social media companies and a revival of a city fee based on the number of a company's employees, s... (more story)
Georgia Justices Affirm Stormwater Charge Is Fee, Not Tax
A stormwater utility charge levied by a local government in Georgia is a fee, not a tax, the state Supreme Court said, upholding a trial court's finding that the charge did not violate the state constitution's... (more story)
Taxation With Representation: Latham, Kirkland, Wachtell
In this week's Taxation With Representation, the Artificial Intelligence Infrastructure Partnership, MGX, and BlackRock's Global Infrastructure Partners acquire Aligned Data Centers from Macquarie Asset Manage... (more story)
High Court, Not A Single Justice, Should Decide On Recusal
As public trust in the U.S. Supreme Court continues to decline, the court should adopt a collegial framework in which all justices decide questions of recusal together — a reform that respects both judicial in... (more story)
MTA Wants Truckers' Congestion Pricing Suit Tossed
New York officials have told a Manhattan federal judge that an amended lawsuit alleging congestion pricing tolls wrongfully discriminate against commercial truckers still doesn't offer any new facts suggesting... (more story)
China's Crackdown On Rare Earth Minerals Spooks Importers
In the latest trade salvo between the U.S. and China, stricter Chinese export controls on critical earth minerals that many U.S. manufacturers rely on are causing concern for businesses, which may have difficu... (more story)
Justices Urged To Hear Mich. Tax Foreclosure Case
A property owner has asked the U.S. Supreme Court to weigh in on her case alleging a Michigan county improperly kept the excess proceeds of her tax-foreclosed home sale, arguing the justices should settle a co... (more story)
Md. May Not Enforce Pass-Through Provision In Digital Ad Tax
Maryland is permanently barred from enforcing a provision in the state's digital advertising tax that prevents tech companies from directly passing the amount of tax through to customers, according to an order... (more story)
Morgan Lewis Adds Ex-IRS Special Counsel As DC Partner
A former special counsel at the Internal Revenue Service's chief counsel's office has moved to Morgan Lewis & Bockius LLP's tax-exempt organizations team, where he'll continue working on issues related to char... (more story)
Chicago's mayor has floated a host of tax increases and changes in his budget presentation, including a tax on social media companies and a revival of a city fee based on the number of a company's employees, s... (more story)
A stormwater utility charge levied by a local government in Georgia is a fee, not a tax, the state Supreme Court said, upholding a trial court's finding that the charge did not violate the state constitution's... (more story)
In this week's Taxation With Representation, the Artificial Intelligence Infrastructure Partnership, MGX, and BlackRock's Global Infrastructure Partners acquire Aligned Data Centers from Macquarie Asset Manage... (more story)
As public trust in the U.S. Supreme Court continues to decline, the court should adopt a collegial framework in which all justices decide questions of recusal together — a reform that respects both judicial in... (more story)
New York officials have told a Manhattan federal judge that an amended lawsuit alleging congestion pricing tolls wrongfully discriminate against commercial truckers still doesn't offer any new facts suggesting... (more story)
In the latest trade salvo between the U.S. and China, stricter Chinese export controls on critical earth minerals that many U.S. manufacturers rely on are causing concern for businesses, which may have difficu... (more story)
A property owner has asked the U.S. Supreme Court to weigh in on her case alleging a Michigan county improperly kept the excess proceeds of her tax-foreclosed home sale, arguing the justices should settle a co... (more story)
Maryland is permanently barred from enforcing a provision in the state's digital advertising tax that prevents tech companies from directly passing the amount of tax through to customers, according to an order... (more story)
A former special counsel at the Internal Revenue Service's chief counsel's office has moved to Morgan Lewis & Bockius LLP's tax-exempt organizations team, where he'll continue working on issues related to char... (more story)
International More
UN Shipping Agency Delays Carbon Price Opposed By US
The United Nations' shipping agency agreed Friday to postpone for one year its plan to introduce a global carbon price, which the U.S. government opposes, having called it a "global carbon tax."
EU Still Hopes For Pillar 1 Despite Doubts
The European Union's best chance for resolving how to tax the digital economy is still to use the OECD's Pillar One rather than unilateral measures that risk disputes, the EU's tax director told the European P... (more story)
Newsquest Defends Report On Wage Practices At Welsh Club
An English regional newspaper publisher has defended itself against a Welsh telecommunications businessman's libel claim, saying it accurately reported that one of its companies underpaid its employers.
Economist, Country Officials Call For Taxes On Wealthy
Columbia University professor and economist Joseph Stiglitz met with officials from Spain and Chile on Wednesday at an event that called for tax policies to rein in extreme wealth.
Sabre Says British Airways Must Reimburse For UK Digital Tax
Flight booking giant Sabre sued British Airways over a digital tax bill it says it was required to pay the U.K. on the airline's behalf, claiming the airline was contractually obligated to reimburse Sabre for ... (more story)
Buy.com Founder's $16M Tax Bill Untimely, 10th Circ. Told
The founder of now-defunct Buy.com is challenging a nearly $16 million tax bill before the Tenth Circuit, arguing that the Internal Revenue Service failed to obtain valid consent to extend the statute of limit... (more story)
Six Pension Plans Settle In $2.1B Danish Tax Fraud Case
Six pension plans have settled claims by Denmark's tax agency accusing them of participating in a $2.1 billion scheme that fraudulently claimed refunds on tax withheld from stock dividends, with a New York fed... (more story)
The United Nations' shipping agency agreed Friday to postpone for one year its plan to introduce a global carbon price, which the U.S. government opposes, having called it a "global carbon tax."
The European Union's best chance for resolving how to tax the digital economy is still to use the OECD's Pillar One rather than unilateral measures that risk disputes, the EU's tax director told the European P... (more story)
An English regional newspaper publisher has defended itself against a Welsh telecommunications businessman's libel claim, saying it accurately reported that one of its companies underpaid its employers.
Columbia University professor and economist Joseph Stiglitz met with officials from Spain and Chile on Wednesday at an event that called for tax policies to rein in extreme wealth.
Flight booking giant Sabre sued British Airways over a digital tax bill it says it was required to pay the U.K. on the airline's behalf, claiming the airline was contractually obligated to reimburse Sabre for ... (more story)
The founder of now-defunct Buy.com is challenging a nearly $16 million tax bill before the Tenth Circuit, arguing that the Internal Revenue Service failed to obtain valid consent to extend the statute of limit... (more story)
Six pension plans have settled claims by Denmark's tax agency accusing them of participating in a $2.1 billion scheme that fraudulently claimed refunds on tax withheld from stock dividends, with a New York fed... (more story)