US Coverage
Law360 | The Practice of Law
State Specific Coverage
Law360 Authority | Deep News & Analysis
Newsom's Budget Change Targets Credits, SaaS, LLC Tax
California would make permanent its business tax credit limit, apply the sales tax to digital prewritten software and cut in half the $800 minimum tax for limited liability companies under a revised budget announced Thursday by Democratic Gov. Gavin Newsom.
Tax Pact Group To Pitch Fresh Remote Seller Amnesty Plan
A Streamlined Sales Tax Governing Board work group is nearing completion of a revised proposal that would allow unregistered remote sellers to limit their back sales tax liabilities, a board director said Thursday.
Gov't Asks 6th Circ. To Reverse FedEx's $89M Tax Credit Win
The U.S. government urged the Sixth Circuit to reverse a Tennessee federal court's decision that invalidated foreign tax credit regulations and allowed FedEx an $89 million refund, arguing that the rules reflect Congress' intent to prevent windfalls under the 2017 tax overhaul.
Newsom's Budget Change Targets Credits, SaaS, LLC Tax
California would make permanent its business tax credit limit, apply the sales tax to digital prewritten software and cut in half the $800 minimum tax for limited liability companies under a revised budget announced Thursday by Democratic Gov. Gavin Newsom.
Tax Pact Group To Pitch Fresh Remote Seller Amnesty Plan
A Streamlined Sales Tax Governing Board work group is nearing completion of a revised proposal that would allow unregistered remote sellers to limit their back sales tax liabilities, a board director said Thursday.
Gov't Asks 6th Circ. To Reverse FedEx's $89M Tax Credit Win
The U.S. government urged the Sixth Circuit to reverse a Tennessee federal court's decision that invalidated foreign tax credit regulations and allowed FedEx an $89 million refund, arguing that the rules reflect Congress' intent to prevent windfalls under the 2017 tax overhaul.
Federal More
In this week's Taxation With Representation, Equinox Gold Corp. and Orla Mining Ltd. announce a merger to create a major gold producer, OpenAI plans to form a company to boost adoption of its software across e... (more story)
The Organization for Economic Cooperation and Development plans to publish on Monday a list of countries implementing the global minimum tax that plan to have online portals in place to receive the required in... (more story)
The pressure in-house legal teams face to quickly adopt artificial intelligence tools, combined with budget constraints and the need to evaluate a crowded market of options, sets the stage for general counsel ... (more story)
A former chief of staff to California Gov. Gavin Newsom pled guilty in federal court in Sacramento for her part in a scheme to divert some $225,000 from a dormant political campaign to a former Biden administr... (more story)
A group of family trusts failed Thursday to convince the Federal Circuit to reverse a lower court ruling that held them liable for an $80 million tax bill after being conned by a fraudster who then engaged in ... (more story)
The Senate Finance Committee's top Democrat would like his committee to vote as soon as next month on a bipartisan package that would implement several National Taxpayer Advocate-backed fixes at the Internal R... (more story)
An Ohio man told a district court that the Internal Revenue Service wrongly denied his tax deduction claim for a loss of over $800,000 from a cryptocurrency "pig butchering" scheme despite the extensive docume... (more story)
State & Local More
A Ruling That Defies Logic In New York: SALT In Review
From a ruling on P.L. 86-272 in New York state to the Illinois governor's call to defund his state's independent tax tribunal, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Fidelity Group Can't Claim NY Tech Tax Rate, ALJ Rules
A Fidelity combined group isn't eligible for a lower New York corporate franchise tax rate provided to qualified emerging technology companies because not every member of the group met the criteria for the ben... (more story)
Mo. Resident Seeks To Keep Income Tax Plan Off The Ballot
A proposed Missouri constitutional amendment that could phase out the income tax and expand the sales tax base should be kept off the ballot because it seeks to change multiple articles of the state constituti... (more story)
Colorado Lawmakers OK Bill To Narrow Software Tax Break
Colorado would narrow its sales tax exemption for downloadable software, allowing the break only for software customized for the user or governed by a negotiated license agreement, under legislation passed by lawmakers.
Hologic Tells NH Justices It's One Org.; State Pushes Back
New Hampshire's revenue department and Hologic sparred before the state's justices over whether a capital loss carryback can offset capital gains in a combined group, even if the loss and gain are generated by... (more story)
Colo. Panel Kills Corp. Decoupling Bill Under Veto Threat
Colorado legislation to decouple the state from four of last year's federal corporate tax changes was stalled by a Senate panel at the request of the bill's sponsor, who suggested that Gov. Jared Polis said he... (more story)
Judge Won't Toss Boston Property Tax Retaliation Claims
Boston must face a proposed class action accusing the city of inflating the valuations of some properties after owners appealed their tax bills, a state court judge has ruled.
From a ruling on P.L. 86-272 in New York state to the Illinois governor's call to defund his state's independent tax tribunal, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
A Fidelity combined group isn't eligible for a lower New York corporate franchise tax rate provided to qualified emerging technology companies because not every member of the group met the criteria for the ben... (more story)
A proposed Missouri constitutional amendment that could phase out the income tax and expand the sales tax base should be kept off the ballot because it seeks to change multiple articles of the state constituti... (more story)
Colorado would narrow its sales tax exemption for downloadable software, allowing the break only for software customized for the user or governed by a negotiated license agreement, under legislation passed by lawmakers.
New Hampshire's revenue department and Hologic sparred before the state's justices over whether a capital loss carryback can offset capital gains in a combined group, even if the loss and gain are generated by... (more story)
Colorado legislation to decouple the state from four of last year's federal corporate tax changes was stalled by a Senate panel at the request of the bill's sponsor, who suggested that Gov. Jared Polis said he... (more story)
Boston must face a proposed class action accusing the city of inflating the valuations of some properties after owners appealed their tax bills, a state court judge has ruled.
International More
Italy Study Says Tax Credits Boosted Investment, Not Output
An Italian tax credit program that was intended to support the digitalization of Italian industry raised business investment but failed to translate into meaningful productivity gains, according to a review fr... (more story)
Canada Can't Duck Legal Fees in Ferry Operator's Tax Dispute
Canada is on the hook for more than CA$754,000 ($549,000) in legal fees incurred by a state-owned ferry operator after the Federal Court of Appeal declined its bid to reverse a lower court's awarded costs.
UK Tribunal Partially Allows Claims For Tax Relief On Films
Several partnerships can claim tax relief on the equity-financed portions of their film productions but not debt-financed components designed to inflate their tax relief, a London court found, ordering HMRC to... (more story)
Barrister Loses Bid To Overturn £15K Fine Tied To Tax Row
A London court has maintained a £15,000 ($20,100) fine imposed on a barrister after he sent a barrage of emails accusing HMRC and a caseworker of colluding to sabotage his tax appeal, backing a disciplinary pa... (more story)
Ex-Deputy PM Rayner Says She's Cleared Of Tax Claims
Britain's tax authority has cleared former Deputy Prime Minister Angela Rayner of claims that she dodged taxes on an £800,000 ($1 million) property, according to an interview published Thursday, just as the La... (more story)
Highest Earners Hardest Hit By Pension Tax Change, IFS Says
The highest earners in the private sector will be hit the hardest by the U.K. government's decision to cap tax-free pension salary sacrifices at £2,000 ($2,700), the Institute for Fiscal Studies has said, with... (more story)
Trump 1st-Term Tariff Hikes On China Legal, Feds Tell Justices
President Donald Trump's first administration was well within its legal authority to increase tariffs on Chinese goods under a law utilized to address unfair trading practices, and the U.S. Supreme Court doesn... (more story)
An Italian tax credit program that was intended to support the digitalization of Italian industry raised business investment but failed to translate into meaningful productivity gains, according to a review fr... (more story)
Canada is on the hook for more than CA$754,000 ($549,000) in legal fees incurred by a state-owned ferry operator after the Federal Court of Appeal declined its bid to reverse a lower court's awarded costs.
Several partnerships can claim tax relief on the equity-financed portions of their film productions but not debt-financed components designed to inflate their tax relief, a London court found, ordering HMRC to... (more story)
A London court has maintained a £15,000 ($20,100) fine imposed on a barrister after he sent a barrage of emails accusing HMRC and a caseworker of colluding to sabotage his tax appeal, backing a disciplinary pa... (more story)
Britain's tax authority has cleared former Deputy Prime Minister Angela Rayner of claims that she dodged taxes on an £800,000 ($1 million) property, according to an interview published Thursday, just as the La... (more story)
The highest earners in the private sector will be hit the hardest by the U.K. government's decision to cap tax-free pension salary sacrifices at £2,000 ($2,700), the Institute for Fiscal Studies has said, with... (more story)
President Donald Trump's first administration was well within its legal authority to increase tariffs on Chinese goods under a law utilized to address unfair trading practices, and the U.S. Supreme Court doesn... (more story)