Tax Law360 provides breaking news and analysis on federal, state, and international tax law, with a focus on business enterprises. Coverage includes high-stakes litigation, government enforcement actions, and auditing issues, as well as related policy developments.
A Texas-based software company scored a partial victory in its $7 million lawsuit over taxes and penalties sought by New Jersey when a judge ruled in a decision released Friday that it was unreasonable for the Garden State to deny deductions for software license payments the company made to its corporate parent.
Democrats in the Illinois Senate on Friday passed legislation to tweak workers’ compensation laws in Illinois, continuing on their mission to pass separate parts of a bipartisan negotiated package without Republican votes.
The House Republicans’ plan to exempt exports, but not imports, from taxation may encourage American businesses to bring their offshore operations and profits back home, but companies holding intellectual property overseas would risk severe tax penalties from foreign governments if they try it.
U.S. District Judge William H. Pauley III declined Thursday to absolve an art consultant charged with dodging taxes on a $3.5 million inheritance of contempt for failing to timely retrieve Swiss bank records subject to grand jury subpoenas, setting up a possible Second Circuit fight over her remaining obligations.
DirecTV Inc. won a chance to overturn a New Hampshire town’s decision on taxing an uplink facility there on Friday, with the state’s Supreme Court sending the actual taxable value of the property back to a lower court.