State & Local
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October 25, 2024
Ore. Church Rightly Denied Property Tax Break, Court Says
An Oregon religious organization was correctly denied a property tax exemption after its lease to another tax-exempt organization ended and it failed to reapply for the break before a statutory deadline, the state's tax court ruled.
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October 25, 2024
MVP: Wachtell's Tijana J. Dvornic
Wachtell Lipton Rosen & Katz's Tijana J. Dvornic led the firm's tax team in representing Lumen Technologies in the largest liability management transaction outside of bankruptcy protections, including addressing over $15 billion of existing debt, earning her a spot as one of the 2024 Law360 Tax MVPs.
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October 24, 2024
No Tax Break For Bad Debt Investors, Wash. Justices Say
The Washington State Supreme Court said Thursday that a group of funds that buy and sell distressed credit card debt can't claim a state business tax deduction on investment income because those investments were not incidental to their main business purpose.
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October 24, 2024
Wash. High Court Lets Anti-Tax Ballot Measure Show Impact
Elections officials are permitted to place financial disclosure information next to a Washington state ballot measure that would repeal the state's tax on capital gains, the Washington Supreme Court ruled Thursday, upholding a trial court.
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October 24, 2024
La. Biz Development Office Extends Industrial Tax Break Regs
An emergency rule in Louisiana extended the effectiveness of regulations implementing a recently issued gubernatorial executive order that made several adjustments to the state's industrial tax exemption program.
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October 24, 2024
NY Sales Tax Applies To Some Of Co.'s Brand Services
A Delaware company owes New York sales tax on services it offered that constitute taxable information services, but other services it offered were personal and individual in nature and therefore excluded from tax, an administrative law judge for the state Division of Tax Appeals ruled.
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October 24, 2024
Ohio Board Frees W.Va. Car Dealership From Biz Tax
A Nissan dealership in West Virginia doesn't owe Ohio commercial activity tax despite claims by Ohio's tax department that residents were buying cars there to bring back to the neighboring state, the Ohio Board of Tax Appeals said.
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October 24, 2024
Nationwide Asks Mich. Justices To Skip Unitary Tax Case
Nationwide asked the Michigan Supreme Court to deny the state tax agency's application for review of an appellate court's decision that said the insurance company's entities should file their taxes as a unitary group, saying that ruling was consistent with a plain reading of the state's laws.
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October 24, 2024
Conn. High Court Snapshot: $13M Tax Appeals, Will Dispute
The Connecticut Supreme Court's second term of the 2024-2025 season will commence Monday with a dispute over whether an attorney bungled a will that sought to divide a $845,368 TD Ameritrade account among five beneficiaries, only one of whom received any cash.
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October 24, 2024
Utah Revenue Collection In Fiscal Year 2024 Falls $31M
Utah general revenue collection through fiscal 2024 fell $31 million from fiscal year 2023, according to the Utah State Tax Commission.
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October 24, 2024
Indiana Dept. Clarifies Sales Tax Rules For Charity Auctions
Indiana charity auctions that are conducted by auctioneers are exempt from sales tax if the retail merchant at the auction is a qualified nonprofit, according to an updated bulletin by the state Department of Revenue.
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October 24, 2024
RI Revenue Collection Beat Budget Estimates By $76M
Rhode Island general revenue collection from July through September outpaced forecasts by $76 million, according to the state Department of Revenue.
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October 24, 2024
ND General Revenue Up $369M From Estimate
North Dakota general revenue collection surpassed a forecast by $369 million through the first 15 months of the state's biennium, according to the state Legislative Council.
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October 24, 2024
MVP: Sidley's Rachel D. Kleinberg
Rachel D. Kleinberg, a co-leader of the global tax practice at Sidley Austin LLP, headed up a tax team to represent investors in a consortium that led to the $6.05 billion sale of the NFL's Washington Commanders, earning her a spot as one of the 2024 Law360 Tax MVPs.
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October 24, 2024
Minn. Tax Court Won't Cut Value Of $1M Home
A residential property in Minnesota was correctly valued by a local assessor at about $1 million, the state tax court ruled, saying the owners' sales comparison analysis of the value was insufficient to cast doubt on the county's determination.
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October 23, 2024
Behind The Scenes Of NYC's Film Studio Real Estate Boom
Film and streaming production facilities in New York City are blossoming, spurred on by an explosion in demand for production space from streamers and $7.7 billion in state film tax credits, and attorneys are busy advising on all aspects of financing and developing studios.
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October 23, 2024
COST Urges Justices To Hear IBM, Disney Appeals Of NY Tax
New York's method of taxing IBM and The Walt Disney Co.'s royalties received from foreign affiliates resulted in an unconstitutional discrimination against interstate commerce that warrants U.S. Supreme Court scrutiny, the Council on State Taxation told the justices Wednesday.
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October 23, 2024
Ariz. Court Orders Changes To City Tax Measure Language
Language on a ballot measure in an Arizona city to replace an expiring local sales tax with a new one with a lower rate was misleading, an appeals court said, rejecting the city's statement that the measure would reduce taxes.
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October 23, 2024
Tenn. Revenue Through Sept. Beats Estimate By $103M
Tennessee's revenue collection in August and September totaled $103 million more than a state estimate for that period, the state Department of Finance and Administration reported.
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October 23, 2024
Ark. Tax Appeals Agency OKs Regs To Streamline Procedures
Arkansas adopted amended regulations for the state's recently created Tax Appeals Commission that are intended to streamline the agency's practices and procedures when hearing and deciding tax disputes between taxpayers and the state Department of Finance and Administration, according to a notice published in the state register.
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October 23, 2024
MVP: Sullivan & Cromwell's Eric Wang
Sullivan & Cromwell's S. Eric Wang advised clients on the tax law implications of major deals over the past year, including a transaction that created the largest gas utility company in North America, earning him a spot as one of the 2024 Law360 2024 Tax MVPs.
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October 22, 2024
Netflix, DirecTV Win Mo. Video Fee Dispute After Law Change
A Missouri law enacted this year that exempted streaming and satellite television companies from local video service provider fees blocked a class of cities from pursuing the fees from Netflix, DirecTV and similar companies for prior years, a Missouri circuit judge ruled.
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October 22, 2024
Ohio Court Affirms Owner's Liability For Cleaning Co.'s Taxes
The owner of a cleaning company is liable for the business's unpaid taxes despite his claims that he wasn't involved in the company's day-to-day operations, an Ohio appeals court ruled Tuesday, affirming a decision by the state's tax appeals board.
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October 22, 2024
RI Retailer Failed To Pay Tax On Cigars, State Says
A Rhode Island-based tobacco retailer tried to pass off incorrect invoices in an effort to evade the state's tobacco tax, an administrative hearing officer for the state Division of Taxation said.
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October 22, 2024
Ill. Pushes Individual, Biz Income Tax Deadlines After Storms
Illinois postponed various income tax filing and payment deadlines for people and businesses in parts of the state affected by storms and tornadoes in July, according to a news release published by the state Department of Revenue.
Expert Analysis
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7 Common Myths About Lateral Partner Moves
As lateral recruiting remains a key factor for law firm growth, partners considering a lateral move should be aware of a few commonly held myths — some of which contain a kernel of truth, and some of which are flat out wrong, says Dave Maurer at Major Lindsey.
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DC's Housing Tax Break Proposal: What's In It, What's Missing
Proposed Washington, D.C., rules implementing the Housing in Downtown Tax Abatement program — for commercial property owners who convert properties into residential housing — thoroughly explain the process for submitting an application, but do not provide sufficient detail regarding the actual dollar value of the abatements, says Daniel Miktus at Akerman.
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Location, Location, Location: SALT In Review
From a possible replacing of Florida's property tax to Cincinnati's taxing of remote workers, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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6 Pointers For Attys To Build Trust, Credibility On Social Media
In an era of information overload, attorneys can use social media strategically — from making infographics to leveraging targeted advertising — to cut through the noise and establish a reputation among current and potential clients, says Marly Broudie at SocialEyes Communications.
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A Post-Mortem Analysis Of Stroock's Demise
After the dissolution of 147-year-old firm Stroock late last year shook up the legal world, a post-mortem analysis of the data reveals a long list of warning signs preceding the firm’s collapse — and provides some insight into how other firms might avoid the same disastrous fate, says Craig Savitzky at Leopard Solutions.
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How 3 New Laws Change Calif. Nonprofits' Legal Landscape
Legislation that went into effect on Jan. 1 should be welcomed by California’s nonprofit organizations, which may now receive funding more quickly, rectify past noncompliance more easily and have greater access to the states’ security funding program, say Casey Williams and Brett Overby at Liebert Cassidy.
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SG's Office Is Case Study To Help Close Legal Gender Gap
As women continue to be underrepresented in the upper echelons of the legal profession, law firms could learn from the example set by the Office of the Solicitor General, where culture and workplace policies have helped foster greater gender equality, say attorneys at Ocean Tomo.
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Thinking Big And Soaking The Rich: SALT In Review
From a bold and broad tax plan in Louisiana to proposed legislation targeting the well-to-do in Rhode Island and Michigan, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Reimagining Law Firm Culture To Break The Cycle Of Burnout
While attorney burnout remains a perennial issue in the legal profession, shifting post-pandemic expectations mean that law firms must adapt their office cultures to retain talent, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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High Court Case Could Reshape Local Development Fees
If last month's oral arguments are any indication of how the U.S. Supreme Court will rule in Sheetz v. County of El Dorado, it's unlikely the justices will hold that the essential nexus and rough proportionality tests under the cases of Nollan, Dolan and Koontz apply to legislative exactions, but a sweeping decision would still be the natural progression in the line of cases giving property owners takings claims, says Phillip Babich at Reed Smith.
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Nebraska Should Abandon Proposed Digital Ad Tax
If passed, Nebraska’s recently proposed Advertising Services Tax Act, which would finance property tax relief by imposing a 7.5% gross revenue tax on advertising services, would cause a politically risky shift of tax burdens from landowners to local businesses and consumers, and would most certainly face litigation, say attorneys at McDermott.
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The Legal Industry Needs A Cybersecurity Paradigm Shift
As law firms face ever-increasing risks of cyberattacks and ransomware incidents, the legal industry must implement robust cybersecurity measures and privacy-centric practices to preserve attorney-client privilege, safeguard client trust and uphold the profession’s integrity, says Ryan Paterson at Unplugged.
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As Promised, IRS Is Coming For Crypto Tax Evaders
The IRS is fulfilling its promise to crack down on those who have neglected to pay taxes on cryptocurrency earnings, as demonstrated by recently imposed prison sentences, enforcement initiatives and meetings with international counterparts — suggesting a few key takeaways for taxpayer compliance, say attorneys at BakerHostetler.