Tax

  • February 17, 2017

    Pa. Court Vacates Ruling On Tax Exemption For Trust

    The Pennsylvania Commonwealth Court Thursday vacated a trial court’s decision that a trust operating a historic building is entitled to a property tax exemption as an institution of purely public charity, finding the lower court did not properly consider the criteria for such charities.

  • February 17, 2017

    ACA Program Isn't An Improper Tax On States, 6th Circ. Says

    The Affordable Care Act’s reinsurance program doesn’t amount to an improper tax on states or violation of the Tenth Amendment, the Sixth Circuit ruled Friday, affirming an Ohio federal judge’s dismissal of the state’s lawsuit challenging the program.

  • February 17, 2017

    Partnership Audit Rule Freeze Causing Confusion For States

    A federal freeze on new and pending regulations is forcing states to delay introducing legislation to conform with a new federal law for auditing partnerships, leaving taxpayers with unanswered questions on if, when and how to amend their partnership agreements.

  • February 17, 2017

    Tax Trial Over Cable Co. Sale Hangs On Diligence

    A Kentucky family suing the IRS to recover $15 million in alleged tax overpayments and civil tax evasion penalties stemming from the sale of their cable company will argue in court that the penalties are unprecedented given their efforts to conform to the law, according to a trial brief filed in Kentucky federal court Thursday.

  • February 17, 2017

    Scholastic Loses $3.3M Georgia Sales Tax Dispute

    Scholastic Inc.'s book clubs unit is still on the hook for $3.3 million in taxes and penalties after the Georgia Tax Tribunal found the company has too much of a “nexus” to the state to argue the commerce clause's reservations for interstate commerce safeguard it from local sales taxes.

  • February 17, 2017

    LA Fitness Tax Row Won't Get Texas High Court Review

    The Texas Supreme Court on Friday declined to hear argument from LA Fitness owner Fitness International Inc. that it was unjustly denied a sales tax refund for stationary gym equipment like treadmills that the company had argued it effectively rented to its customers.

  • February 17, 2017

    Wyo. Advances Bill To Fight Restrictions On Online Sales Tax

    The Wyoming Senate has approved a remote sales tax collection measure designed to challenge a 1992 U.S. Supreme Court decision requiring retailers to have a physical presence in a state to collect transaction taxes.

  • February 17, 2017

    Cay Clubs Ex-CFO Fights Gov't Request To Clarify Order

    A former Florida real estate executive facing charges related to an alleged $300 million Ponzi scheme blasted the government’s request for clarity on a pretrial order, saying Friday he won’t be raising arguments the court has barred.

  • February 17, 2017

    Pa. Appeals Court Will Revisit Case Over Gas Rights

    A Pennsylvania appeals court has agreed to reconsider a December ruling that affirmed Range Resources Corp. has rights to more than 2,800 acres of subsurface gas in Lycoming County in a case that turned on a 1932 tax sale.

  • February 17, 2017

    Taxation With Representation: Weil, Skadden, Kirkland

    In this week’s Taxation With Representation, Japanese telecommunications giant SoftBank Group acquires a private equity firm for $3.3 billion in cash, Hologic buys medical aesthetics company Cynosure for $1.65 billion, and a Texas oil and gas company purchases new assets in North Louisiana for $465 million.

  • February 17, 2017

    9th Circ. Won't Revive Suit Against BofA Over Loan Reports

    The Ninth Circuit on Thursday declined to revive homeowners’ proposed class action alleging that Bank of America violated federal tax law by failing to report capitalized interest payments on mortgages, finding that the homeowners could not show that they were harmed.

  • February 17, 2017

    EXCLUSIVE: UK Seeks Bank Shield From EU Tax Avoidance Law

    The U.K. is pushing for an extended exemption for financial services from European Union tax-avoidance reforms aimed at preventing multinational firms from exploiting disparities between national tax regimes, two EU officials familiar with the situation told Law360 Thursday.

  • February 16, 2017

    King Of Pop's Ex-Manager Says Brands Lined Up Before Death

    Michael Jackson’s former manager Tohme Tohme took the stand at the IRS’ behest Thursday in the Los Angeles trial over the value of the late entertainer’s estate at the time of his death, testifying that Nike, Sony and others had licensing deals in the works when Jackson died.

  • February 16, 2017

    Mo. High Court Rules Fla. Telecom Co. Liable For Sales Tax

    A Florida-based telecommunications company lost its bid for a partial refund of sales taxes in Missouri when the Supreme Court of Missouri ruled that the company had failed to prove that its retail sales in the state were exempt from sales tax.

  • February 16, 2017

    Wash. High Court Upholds Estate Tax On $5.5M In Fed Taxes

    Washington’s high court on Thursday struck down a challenge to estate taxes levied by the state on $5.5 million in federal gift taxes paid by a media mogul in the years before his death, finding that the federal taxes fall within the definition of "Washington taxable estate.”

  • February 16, 2017

    6th Circ. Slams IRS In Retirement Transfers Dispute

    The Sixth Circuit berated the IRS on Thursday while overturning a U.S. Tax Court decision finding a family-owned company liable for tax deficiencies on transfers to retirement accounts, saying that the revenue agency was trying to undo transactions that are perfectly legal.

  • February 16, 2017

    FedEx Can Seek Documents On Illegal Cigarette Shipping

    FedEx can seek documents from New York City it believes may shield the company from claims it illegally and knowingly delivered untaxed cigarettes from a Long Island Native American reservation to the Big Apple, a New York federal judge has ruled.

  • February 16, 2017

    Wash. High Court Rebuffs Florist's Same-Sex Objections

    A Washington florist who refused to serve a same-sex wedding, citing religious objections, violated state anti-discrimination laws and is not protected by the First Amendment, the Washington Supreme Court unanimously ruled Thursday.

  • February 16, 2017

    Prevezon Blasts New Gov't Evidence In $230M Tax Fraud Suit

    Prevezon Holdings Ltd. lashed out Wednesday at a government request to introduce new documents, new witnesses and new discovery requests in a New York federal court lawsuit stemming from a $230 million Russian tax fraud, arguing prosecutors had their chance to bolster their “insufficient case.”

  • February 16, 2017

    'Cultural Services' Tax Exemption Up To EU Members: Court

    A European Court of Justice panel dealt a blow to state-recognized “cultural bodies” Wednesday in holding that the British Film Institute isn't automatically entitled to an exemption from the United Kingdom's value added tax on its film screening tickets.

Expert Analysis

  • In Retrospect

    Relearning The Lessons Of Korematsu's Case

    Randy Maniloff

    Fred Korematsu’s U.S. Supreme Court case challenging President Franklin Roosevelt’s executive order that led to the incarceration of approximately 120,000 people of Japanese ancestry may sound like ancient history. However, Feb. 19 marks the 75th anniversary of the order's signing, and that it’s celebrating its diamond anniversary now is breathtaking timing, says Randy Maniloff of White and Williams LLP.

  • How A General Counsel Should Think About AI: Part 2

    Bruce J. Heiman

    General counsels face the challenging task of understanding how companies can navigate the rules surrounding uses of artificial intelligence. To get smart on AI, general counsels must ask the right questions about areas such as human resources, intellectual property, liability and insurance, say Bruce Heiman and Elana Reman of K&L Gates LLP.

  • How A General Counsel Should Think About AI: Part 1

    Bruce J. Heiman

    Though the Trump administration has yet to make an official statement regarding artificial intelligence, support for AI is consistent with its expressed desire to promote American business. As such, general counsel will inevitably have to navigate what big data and AI mean for compliance with current and future laws and regulations, say Bruce Heiman and Elana Reman of K&L Gates LLP.

  • Saving Lawyers 1 Less Drink At A Time

    Jennifer Gibbs

    Lawyers are likely turning to alcohol to lessen stress and anxiety, to socialize, and even to sleep better. Unfortunately, many are unaware that their nightly pour could be causing or exacerbating the anxiety that is plaguing the legal profession, says Jennifer Gibbs of Zelle LLP.

  • Opinion

    Lawyers Cannot Stay Silent While Trump Belittles The Courts

    Alexandra Wald

    This is not the first time that a president has criticized the judiciary. But what is unique about President Donald Trump's attacks is that they target not just a specific decision, but the judiciary and its decision-making power altogether. Every lawyer, regardless of political persuasion, must speak up, says Alexandra Wald of Cohen & Gresser LLP.

  • Marketing Basics For Solo Practitioners And Small Law Firms

    Matthew Horn

    There is no question that solo practitioners and small law firms need to spend the majority of time on legal work, but in order to achieve sustainable growth, marketing should not be a secondary task “put-off” until you have some free time, says Matthew Horn, founder of Legal Services Link LLC.

  • Demystifying International Extradition

    Amy Jeffress

    There were many high-profile news stories in 2016 about individuals fighting extradition to or from the United States. Given the complexity and sensitivity of the issues involved, extradition is time-consuming, often taking years. The process by which the U.S. evaluates hundreds of extradition requests each year may be unfamiliar to many practitioners, say attorneys with Arnold & Porter Kaye Scholer LLP.

  • Implications Of Closing The 'Carried-Interest Loophole'

    Excerpt from Lexis Practice Advisor
    Robert D. Starin

    Politicians from both major political parties tout closing the “carried-interest loophole” as a primary aspect of their tax reform agendas. Carried-interest legislation, if enacted, would impose questions and challenges not only on private equity firms and their advisers, but on a wide array of businesses, says Robert Starin of K&L Gates LLP.

  • Uniformity Vs. Autonomy In Insurance Regulation: Part 2

    Nicole M. Zayac

    In light of significant developments in the EU such as Brexit, it appears likely that the pendulum is shifting away from expanding the role of the federal government in insurance regulation. This could mean either a return to state autonomy, or increased uniformity fostered by federal deregulation, say Nicole Zayac and David Hauge of Michelman & Robinson LLP.

  • Law Firm Margin Improvement: The Long Game

    Jack Diggle

    For all the lessons learned since 2008, it's surprising that margin management remains so tactical, rather than an ongoing strategic endeavor, for law firms. The firms that will survive and thrive must invest in ongoing margin-improvement capability, which will combine enhanced business- and change-management skills and take a long-term view to drive out the more difficult changes, says Jack Diggle of Elevate Services Inc.