State & Local

Why Law Firm ESG Is Likely Here To Stay

Aebra Coe

As backlash to institutional efforts around environmental, social and corporate governance spreads in the U.S., experts say law firms are likely to take a long-term view and continue focusing on ESG principles, even if some of the wording and messaging around those efforts may change.

New Ballot Measures Could Change California Tax Landscape

Maria Koklanaris
Senior Tax Correspondent

A group of California measures that are planned, either by citizen initiative or legislative vote, for inclusion on the November 2024 ballot will compete with each other to put a stark choice before voters: make it easier to raise taxes, or make it more difficult.

Real-Time Partnership Audits Would Give IRS Trove Of Data

David van den Berg

The Internal Revenue Service is seeking feedback on a possible real-time audit program for partnerships, an initiative that if implemented could provide a wealth of valuable information that could be used to increase partnership compliance, practitioners told Law360.

Preparing Your Legal Department For Pillar 2 Compliance

Multinational entities should familiarize themselves with Pillar Two of the Organization for Economic Cooperation and Development’s BEPs 2.0 project and prepare their internal legal tracking systems for related reporting requirements that may go into effect as early as January, says Daniel Robyn at Ernst & Young.

What Large Language Models Mean For Document Review

Courts often subject parties using technology assisted review to greater scrutiny than parties conducting linear, manual document review, so parties using large language models for document review should expect even more attention, along with a corresponding need for quality control and validation, say attorneys at Sidley.

Participating In Living History Makes Me A Better Lawyer

My role as a baron in a living history group, and my work as volunteer corporate counsel for a book series fan association, has provided me several opportunities to practice in unexpected areas of law — opening doors to experiences that have nurtured invaluable personal and professional skills, says Matthew Parker at the Nebraska Department of Health and Human Services.

Another Ark. Tax Cut And Chicago Transit: SALT In Review

From yet another income tax cut in Arkansas to proposed extra funding for Chicago transit, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.

Private Equity Owners Can Remedy Law Firms' Agency Issues

Nonlawyer, private-equity ownership of law firms can benefit shareholders and others vulnerable to governance issues such as disparate interests, and can in turn help resolve agency problems, says Michael Di Gennaro at The Law Practice Exchange.

Kentucky Tax Talk: Taking Up The Dormant Commerce Clause

Attorneys at Frost Brown examine whether the U.S. Supreme Court is likely to review Foresight Coal Sales v. Kent Chandler to consider whether a Kentucky utility rate law discriminates against interstate commerce, and how the decision may affect dormant commerce clause jurisprudence.

TCJA Workarounds And A Misstep In Va.: SALT In Review

From federal SALT deduction workarounds to Virginia's missed opportunity, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.

How Taxpayers Can Prep As Justices Weigh Repatriation Tax

The U.S. Supreme Court might strike down the 2017 federal tax overhaul's corporate repatriation tax in Moore v. U.S., so taxpayers should file protective tax refund claims before the case is decided and repatriate previously taxed earnings that could become entangled in dubious potential Section 965 refunds, say Jenny Austin and Gary Wilcox at Mayer Brown.

Digital Services And Asphalt Production: SALT In Review

From Massachusetts' proposed gross receipts tax on digital providers to a dispute over equipment used to make asphalt in North Carolina, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.

What's Notable In Connecticut's New Cannabis Laws

The Connecticut Legislature recently passed four bills containing cannabis provisions — ranging from applicable tax credits to labor agreement requirements — that may prove to be a mixed bag for state operators, say Sarah Westby and Deanna McWeeney at Shipman & Goodwin.

NJ Justices Clarify Bribery Law Scope, But Questions Remain

The New Jersey Supreme Court’s recent State v. O'Donnell decision clarified that the state’s bribery law unambiguously applies to candidates for public office, but there are still unresolved questions about how the ruling may affect lobbyists, undeclared candidates and political speech, says Scott Coffina at Pietragallo Gordon.

Parsing Tax Implications Of NYC Office Leasing Transactions

Though New York City's tax laws generally do not require negotiated contractual risk allocation in the case of sublease and early lease termination transactions, it is still helpful for counsel to both landlords and tenants to understand the laws' nuances, say attorneys at Lowenstein Sandler.

Digital Biz Purchases And Tax Cuts In Texas: SALT In Review

From the taxing of digital business purchases to proposed tax cuts in Texas, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.