Tax

  • July 21, 2017

    Ohio Can’t Tax Del. Trust Over Stock Sale, Justices Told

    A Delaware trust that netted $18 million from the sale of stock in an Ohio trucking logistics company has asked the Supreme Court to prevent the state of Ohio from slapping it with income taxes, arguing the state lacks taxing authority to do so.

  • July 21, 2017

    Mich. Residents Challenge State's Tax Sales At High Court

    A group of Michigan taxpayers fighting to get some of the proceeds from tax foreclosures on their property appealed to the Supreme Court last week, arguing that Michigan law allows the state to get an unconstitutional windfall from tax sales.

  • July 21, 2017

    Calif. Nutrition Co. Takes Row Over Wash. Tax To High Court

    A California-based nutrition supplement company told the U.S. Supreme Court that a lower court erroneously concluded that its mail-order business in Washington state creates a taxable connection when its wholesale channel did not actually establish or maintain a market for its retail side.

  • July 21, 2017

    Key ACA Repeal Elements Need 60 Votes

    Important parts of Affordable Care Act repeal legislation cannot be approved in the U.S. Senate with a simple majority, dealing a fresh setback to the Republican repeal effort, according to procedural rulings Friday.

  • July 21, 2017

    Christie Rejects 'Airbnb' Tax, Citing Cost To Tourists

    New Jersey Governor Chris Christie on Friday vetoed a bill that would have levied a tax on short-term online rental accommodations such as Airbnb and FlipKey, saying the proposed tax would hurt New Jersey’s economy.

  • July 21, 2017

    Taxation With Representation: Bracewell, Baker, Cleary

    In this week’s Taxation With Representation, Ontario’s partially privatized electricity provider agrees to buy U.S.-based Avista Corp. in a $5.3 billion deal, U.K.-based Reckitt Benckiser inks a $4.2 billion sale of its food business to McCormick, and water-service provider Select Energy Services enters into a stock-for-stock merger deal with Rockwater Energy Solutions.

  • July 21, 2017

    Calif. Realtors Want To Expand Transferable Property Tax Cap

    The California Association of Realtors wants to expand the state’s rule, currently limited by age and county, that allows homeowners to take property tax caps pegged to their house and transfer them to new homes, and the group proposed three different ways to do that Thursday.

  • July 21, 2017

    DC Circuit Reverses Conviction In Tax Prep Fraud Case

    Criticizing the government’s prosecution of a D.C. family tax preparation business, a D.C. Circuit panel tossed the conviction of one of the preparers and remanded the sentence of another on allegations the pair had prepared false tax returns for years on behalf of clients.

  • July 21, 2017

    9th Circ. Won't Rethink Pause Of LA Power Tax Row

    A Ninth Circuit panel unanimously shot down a proposed class of Los Angeles residents’ attempt to restart their suit against the city Wednesday, leaving allegations of illegally collected taxes in California’s state courts.

  • July 20, 2017

    Pa. Court Says State Can't Dismiss Vaping Tax Lawsuit

    A Pennsylvania federal judge shot down the state’s attempt to ditch a challenge to its state tax on e-cigarettes and non-vape-specific components like batteries Thursday, sending the suit brought by a Harrisburg vape shop back to the state’s court system.

  • July 20, 2017

    NJ Water Contractor Gets 2 Years For $1M Kickback Scheme

    A New Jersey federal judge on Thursday handed down a two-year prison term to a former contractor for his role in a nearly $1 million kickback scheme at a defunct Newark water agency, saying the sentence was needed to deter others from engaging in such public corruption.

  • July 20, 2017

    IRS Loss Over Foreign Profit Is Boon For US Middle Market

    A stinging loss for the Internal Revenue Service that occurred when the U.S. Tax Court rejected the agency’s 26-year-old stance on taxing foreign investor profits from partnership interest sales could simplify investment structures and encourage middle-market growth in the U.S.

  • July 20, 2017

    Chicago Gets $18M In Settlement With Hotel Booking Sites

    The city of Chicago has collected $18 million in the settlement of a years-old lawsuit against Expedia Inc., Hotels.com LP and Hotwire Inc. over unpaid hotel taxes, according to a settlement agreement obtained by Law360 on Thursday.

  • July 20, 2017

    US Fights Essar Exec's Bid For Tax Penalty Protection

    The federal government asked a Delaware bankruptcy court Wednesday to deny a bid by the former CEO of Essar Steel Minnesota for protection from the IRS, insisting that the court lacks authority to grant the request.

  • July 20, 2017

    House Panel Approves 2018 Budget Bill

    The House Budget Committee on Wednesday approved a budget resolution for fiscal 2018 that would allow $1.132 trillion for discretionary spending, increasing funding for defense while making significant planned cuts to health care and other mandatory expenditures and pushing for a tax overhaul.

  • July 20, 2017

    Ryan Still Says 2017 The Year For Tax Reform

    Speaker of the House Paul Ryan continued to express optimism Thursday that tax reform can and will happen this year, championing an ambitious series of cuts for businesses and individuals alike even as the GOP-controlled Congress remains mired in its efforts to repeal the Affordable Care Act.

  • July 20, 2017

    IRS Can't Beat Payroll Co.'s FOIA Suit Yet, Judge Rules

    The IRS has more to do to close out a California payroll service’s Freedom of Information Act lawsuit, a federal judge ruled Thursday, saying the IRS needs to show how its search of records responding to the suit was reasonable.

  • July 20, 2017

    Rising Star: Latham's Brian McManus

    Latham & Watkins LLP’s Brian McManus represents companies and individuals navigating high-stakes tax matters, including when he landed a major victory for Scottish Power in a $4 billion fight with the IRS, earning him a spot as one of five tax practitioners under 40 honored by Law360 as Rising Stars.

  • July 20, 2017

    Wealthy Benefit More Under $5T Trump Tax Plan: Think Tank

    The left-leaning Institute on Taxation and Economic Policy on Thursday projected a minimum $4.8 trillion federal revenue reduction over a 10-year period under President Donald Trump’s tax plan that the nonprofit said would give more than three-fifths of all tax cuts to the wealthiest 1 percent of Americans.

  • July 20, 2017

    Health Data Co. Owner Gets 10 Years For Investor, Tax Frauds

    The CEO and founder of health care data company VitalSpring Technologies Inc. will serve 10 years in prison and hand over nearly $58 million in restitution and back taxes after pleading guilty to defrauding his investors and not paying employment taxes, prosecutors said Wednesday.

Expert Analysis

  • The Elephant In The Room: Advancing Women To Partnership

    Anusia Gillespie

    Despite more focus and investment, the numbers continue to show little progress in advancing women to the top tiers of firm leadership. Considering the irreversible nature of the transformation of the market for top talent, it is time to start experimenting and innovating from the core, rather than from the periphery, say Anusia Gillespie and Scott Westfahl of Harvard Law School.

  • How Midsize Law Firms Can Minimize Cybersecurity Threats

    K. Stefan Chin

    It can be challenging for midsize law firms to develop an enterprise cybersecurity program that mitigates the eminent threat of data breach and meets the regulatory and compliance requirements of the firm and its clients. This challenge becomes daunting when considering the steady rise in client audits, say K. Stefan Chin of Peckar & Abramson PC and John Sweeney of Logicforce.

  • Equity And Incentive Compensation Plans For Startups

    Excerpt from Lexis Practice Advisor
    Jotham Stein

    To effectively advise startups, and the investors that frequently finance them, it is imperative to understand startup equity and incentive compensation structures. Jotham Stein of the Law Offices of Jotham S. Stein PC discusses common compensation practices of investor-backed, Kickstarter-funded and bootstrapped startup enterprises.

  • Weekly Column

    Innovating For Wise Juries: Matching Experts

    Stephen Susman

    In the penultimate installment of this series, Stephen Susman, Richard Lorren Jolly and Dr. Roy Futterman of the NYU School of Law Civil Jury Project answer a question on many legal analysts’ minds: What if both sides’ expert witnesses sat in a hot tub discussing the case while a jury watched?

  • Key Factors In Selling Wind Farm Tax Equity Investments

    Jai Khanna

    Recently, a vibrant market has developed for secondary sales of tax equity partnerships that own wind farms in the U.S. However, sellers and purchasers of such membership interests should consider several important points in connection with any sale, say Jai Khanna and Maher Haddad of Baker McKenzie and Paul Vercruyssen, assistant deputy general counsel at Hannon Armstrong.

  • Rebuttal

    The Rise Of Midsize Firms

    Ronald Shechtman

    Recently, this publication featured an op-ed in which one law firm partner contended that midsize firms will be the next casualty of the legal market, due to a supposed inability to compete with BigLaw or boutique firms for business. Though we can expect to see Am Law firms continue to lead the market in megadeals and life-or-death litigations, by all indications midsize is on the rise, says Ronald Shechtman of Pryor Cashman LLP.

  • 5 Questions To Ask Yourself Before Submitting Litigation AFA

    Gregory Lantier

    Outside counsel should be able to articulate why she is proposing an alternative fee arrangement for this matter. If the client has not requested an AFA or the case is unusually difficult to budget with accuracy, this might not be the case to propose an AFA, say attorneys with WilmerHale.

  • How Mobile Apps Can Benefit Your Practice

    Sean Cleary.jpg

    Despite the boom in mobile application development, many lawyers are still reluctant when it comes to using apps in their daily work. Attorney Sean Cleary explores the benefits and shares some recommendations for apps geared toward attorneys.

  • Rebuttal

    The Future Of Litigation Finance Is Analytics

    Eva Shang

    In a recent Law360 guest article, Christopher Bogart of Burford Capital LLC claimed that "while theoretically well designed to find the proverbial needle in a haystack, big data and AI currently lack the ability to do so usefully in a commercial litigation financing context." But AI can manage many of the tasks that litigation financiers would otherwise perform, says Eva Shang, co-founder of Legalist Inc.

  • 2 Bills Would Help Level Playing Field For Tribal Governments

    Kathleen Nilles

    Notwithstanding the fact that Indian tribal governments are recognized sovereign entities by the United States, they are frequently treated less favorably than their state and local government counterparts. This is particularly true with respect to their tax treatment under IRS rulings and the Internal Revenue Code. In the past month, however, Congress has introduced two bills that promote parity for tribal governments, say members... (continued)