State & Local
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September 30, 2024
Mich. General Revenues Through Aug. Down $435M
Michigan's general revenues from October 2023 through August were $435 million below the last fiscal year, according to a monthly report from the state budget office on Monday.
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September 27, 2024
Transfer Pricing Guru On Assisting States, Combined Filing
Ednaldo Silva’s transfer pricing analytics company EdgarStat LLC recently renewed its contract with New Jersey, furthering his decadeslong run of assisting states that aim to curb profit shifting by scrutinizing intercompany transactions. Silva spoke to Law360 about his transfer pricing philosophy and how he envisions combined reporting affecting the field.
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September 27, 2024
Ex-Residents Say Mass. Stretched Law To Tax $4.7M Gain
Massachusetts' taxation of a $4.7 million gain from a stock sale wrongly commingled the business of a former resident taxpayer with that of a company he owned, he and his wife told a state appeals court.
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September 27, 2024
Ex-Mass. State Sen. Says Conviction By All-White Jury Unfair
A former Massachusetts state senator has said his conviction on pandemic unemployment aid and tax fraud charges should be thrown out in part because the jury was all white.
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September 27, 2024
NJ Assembly OKs Assessing Tax Anytime For Fraud Refunds
New Jersey would eliminate a statute of limitations on income tax assessments for erroneous refunds induced by fraud under a bill passed by the state Assembly.
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September 27, 2024
Mich. Bills Seek To Create Aerospace R&D Credits
Michigan would create a research and development tax credit for aerospace and defense businesses, for up to $5 million per taxpayer annually, under bills introduced in the state Senate.
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September 27, 2024
Delta, PacifiCorp Intangibles Taxable, Ore. Tells State Justices
Oregon's tax court was wrong to exempt Delta Air Lines from taxation of its intangible property and was correct to refuse the exemption for energy provider PacifiCorp, the state's tax department told the Oregon Supreme Court.
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September 27, 2024
La. Dept. Says No Tax Due On Casinos' Gifts To Patrons
Louisiana casinos and gambling businesses are not subject to the state's sales and use tax for complimentary items they give to patrons as incentives, the state Department of Revenue said in a notice.
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September 27, 2024
Tenn. Water Treatment Plant's Piping Ruled Tax-Exempt
Tennessee sales and use tax won't apply to contractors' purchases of piping used in the expansion of a municipal water treatment plant, the state Department of Revenue said in a ruling.
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September 27, 2024
Ind. Tax Dept. Says Ky. Truck Driver Wrongly Taxed
A Kentucky truck driver who worked for an Indiana-based company was incorrectly assessed local income tax for the county where the business is located, the Indiana Department of State Revenue said in a letter ruling.
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September 27, 2024
Taxation With Representation: Kirkland, Skadden, Cleary
In this week's Taxation With Representation, Blackstone and Vista Equity Partners acquire Smartsheet Inc., Macquarie Asset Management takes a stake in D.E. Shaw Renewables Investment Group, and Apogee Enterprises Inc. buys UW Interco LLC from Heartwood Partners.
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September 27, 2024
Vt. General Revenue Through Aug. Gets $30M Boost
Vermont's general revenue collection from July through August beat the total from the same period last year by roughly $30 million, according to the state Agency for Administration.
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September 26, 2024
Pa. Supreme Court Upholds Taxes On Like-Kind Exchanges
A group of Pennsylvania real estate partners owe the state personal income tax assessed on their like-kind exchange, Pennsylvania's highest court ruled Thursday, with the majority upholding a lower court finding that the state Department of Revenue correctly issued the assessment.
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September 26, 2024
Colo. Property Tax Deferral Program Could Balloon, Panel Told
Use of a property tax deferral program in Colorado is expected to rise under a recent legislative change opening it to nearly all property owners, the state's treasurer told a legislative commission Thursday, calling the extent of the program's growth difficult to predict.
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September 26, 2024
Ohio Justices Nix Woodland Deduction Rate As Arbitrarily Low
The Ohio Supreme Court ordered the state's tax commissioner Thursday to recompute the value of a deduction for clearing woodlands that factors into assessments of agricultural properties, agreeing with a group of landowners who argued the figure was set arbitrarily low.
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September 26, 2024
Calif. Revives Tax Breaks For Manufacture Property
California reinstated a capital investment incentive program that allows local governments to offer partial property tax abatements for qualified manufacturing facilities and expanded the program to include qualifying projects that make lower initial investments under a bill signed by Democratic Gov. Gavin Newsom.
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September 26, 2024
Pa. Justices Reject New Tax Hearing For Charter School
The Pennsylvania Commonwealth Court erred in sending a charter school's retroactive property tax appeal back to a county board, because the charter school had failed to exhaust statutory remedies, the state Supreme Court ruled Thursday.
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September 26, 2024
NJ Atty Rips AG For 'Grossly Distorted' Power Broker Case
A New Jersey attorney charged in the state's sweeping indictment against power broker George E. Norcross III accused the Attorney General's Office on Thursday of "attempting to criminalize the routine practice of law" with its charges against him.
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September 26, 2024
Ind. Tax Dept. Abates Beverage Co.'s Late Filing Penalty
A penalty assessed to an Indiana beverage company for a late corporate income tax filing will be abated, as the delay wasn't due to willful neglect, the Department of State Revenue said in a letter of finding.
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September 26, 2024
Ind. Couple Wrongly Denied Credit For Ky. Local Income Tax
An Indiana couple was wrongly denied an income tax credit for local income tax paid by one spouse while working in Kentucky, but the couple will continue to owe additional tax, the Indiana Department of State Revenue said in a letter of finding.
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September 26, 2024
NY Appeals Court Casts Doubt On $489M Trump Judgment
Judges on a New York state appeals court expressed skepticism Thursday of a $489 million civil fraud judgment against Donald Trump, his sons, companies and their executives, raising the prospect that the fine awarded to the attorney general could be reduced or vacated.
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September 26, 2024
Ind. S Corp. Not Subject To County Income Tax, Dept. Says
An Indiana S corporation was wrongly assessed county income tax on distributions to its lone, out-of-state shareholder, the Department of State Revenue said, because that shareholder was not employed in the state.
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September 25, 2024
Pa. Panel Says Misspellings Don't Sink Service Of Tax Notice
The misspelling of a landowner's name on a notice of an impending tax sale did not prevent the owner from understanding their property would be auctioned off to cover unpaid taxes, a Pennsylvania appellate court ruled Wednesday.
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September 25, 2024
Remote Sales Tax Compliance Burdens Small Biz, Senate Told
The 2018 Wayfair decision has burdened small businesses with significant compliance costs to collect and remit taxes in thousands of jurisdictions across the U.S., state tax experts told a U.S. Senate subcommittee Wednesday.
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September 25, 2024
IBM Urges Justices To Review NY Tax On Foreign Royalties
New York's system for taxing royalty payments would be unconstitutional if every other jurisdiction adopted it, violating an internal consistency test reaffirmed by a 2015 precedent, IBM told the U.S. Supreme Court in asking it to review and overturn New York's high court ruling that allowed the tax regime.
Expert Analysis
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A Tale Of 2 Trump Cases: The Rule Of Law Is A Live Issue
The U.S. Supreme Court’s decision this week in Trump v. U.S., holding that former President Donald Trump has broad immunity from prosecution, undercuts the rule of law, while the former president’s New York hush money conviction vindicates it in eight key ways, says David Postel at Henein Hutchison.
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Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Less Power To The People: SALT In Review
Starting with a measure that won't appear on the California ballot in November, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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6 Tips For Maximizing After-Tax Returns In Private M&A Deals
With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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Recruitment Trends In Emerging Law Firm Frontiers
BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.
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Money, Money, Money: Limiting White Collar Wealth Evidence
As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
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Firms Must Rethink How They Train New Lawyers In AI Age
As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.
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Think Like A Lawyer: Always Be Closing
When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.