State & Local

  • June 05, 2024

    Ill. Budget Has Higher Cap On NOLs, Sports Betting Tax Hike

    Illinois will extend a cap on corporate net operating loss deductions, increase its sports betting tax and reduce sales tax rebates for retailers under a $53.1 billion fiscal year 2025 budget signed Wednesday by Democratic Gov. J.B. Pritzker.

  • June 05, 2024

    Colo. To Exempt Modular Homes From Sales Tax

    Colorado will exempt new modular home sales from state tax under a bill signed into law by Gov. Jared Polis.

  • June 05, 2024

    Calif. OTA Says Avis Owes $12.6M Tax On Asset Acquisition

    An acquisition by car rental company Avis of an indirect affiliate's vehicle management business does not constitute a merger and is therefore subject to tax, the California Office of Tax Appeals ruled.

  • June 05, 2024

    Colo. To Allow Tax Credit For Employee-Owned Businesses

    Colorado will allow new businesses that are employee-owned to claim an income tax credit for business expenses under a bill signed by Democratic Gov. Jared Polis.

  • June 05, 2024

    NY Gov. Indefinitely Halts Manhattan Congestion Pricing

    New York Gov. Kathy Hochul on Wednesday shelved congestion pricing just weeks before officials were set to implement a fee for vehicles entering Manhattan's busiest corridor, in a dramatic about-face following intense backlash and litigation from residents and business owners grappling with the high cost of living.

  • June 05, 2024

    Hawaii To Adjust Income Tax Brackets, Up Standard Deduction

    Hawaii will adjust its individual income tax brackets and increase its standard deduction to account for inflation and will exempt certain medical services from the state's general excise tax under bills signed by the governor.

  • June 05, 2024

    Minn. Justices Back Doctor's Penalty For Frivolous Tax Claim

    Minnesota's penalty for filing a frivolous tax claim is constitutional, and the penalty as applied to a nonresident doctor and his wife over nearly $1.2 million in undeclared income is also sound, the Minnesota Supreme Court said Wednesday.

  • June 05, 2024

    Win May Embolden IRS Use Of Economic Substance Doctrine

    The IRS' successful wielding of the economic substance doctrine to characterize multinational telecommunications corporation Liberty Global's sophisticated set of intercompany deals as an abusive tax shelter could encourage the agency to apply similar analysis to even the most basic tax transactions.

  • June 05, 2024

    Ohio Senate Bill Seeks To Double Film Tax Credit Cap

    Ohio would double the amount of film and theater production tax credits it can award annually and eliminate its credit for film and theater capital improvement projects under a bill introduced in the state Senate.

  • June 05, 2024

    Colo. To Look At Federal Taxable Income As State Basis

    Colorado is directing its state auditor to evaluate its use of federal taxable income as the basis for state taxable income under legislation signed into law by Gov. Jared Polis.

  • June 04, 2024

    Recreational Marijuana To Be On SD Ballot For 3rd Time

    Recreational marijuana advocates have successfully put a measure on South Dakota's November ballot, giving state voters a third shot at legalizing the drug just two years after they declined to do so.  

  • June 04, 2024

    Mastercard Owes $7.7M In SC Income Tax Case, ALJ Rules

    Mastercard's network, which allows cardholders to buy goods and services and withdraw money, is its income-producing activity, occurs within South Carolina, and thus obligates the company to pay about $7.7 million in taxes, fees and interest, a state administrative law judge ruled in a decision posted Tuesday.

  • June 04, 2024

    NY Senate OKs Tax Break For Mobile Internet Access Gear

    New York would exempt from property tax equipment used for the transmission and switching of radio signals to provide commercial mobile radio service or mobile internet access service under a bill approved by the state Senate.

  • June 04, 2024

    La. Officials Aim To Salvage Redo Of Constitution's Tax Rules

    An effort to open the door for Louisiana's Legislature to make wholesale changes to the state's tax system might take center stage this summer during a tax-focused constitutional convention that could be called after a broader convention was shelved amid concerns about its scope and pace.

  • June 04, 2024

    Calif. Use Tax Applies To Man's Trading Cards, OTA Says

    A California man who bought trading cards from Germany is liable for use tax on the purchase after failing to prove the purchase was made for resale, the state Office of Tax Appeals ruled.

  • June 04, 2024

    Calif. OTA Says Online Retailer Owns LLC Tax Assessment

    A Michigan-based company was doing business in California in 2018 and thus was required to file a return and pay the state's annual limited liability company tax, the state Office of Tax Appeals said.

  • June 04, 2024

    NJ Panel Advances Pilot Program For Prefilled Tax Returns

    New Jersey aims to create a pilot program that would allow the state's tax agency to prepare prefilled personal income tax return forms for certain taxpayers under a bill approved by an Assembly committee.

  • June 04, 2024

    First Citizens Bank Seeks $15M Tax Refund After Bailout

    First Citizens bank is seeking a $15 million refund from the North Carolina Department of Revenue stemming from taxes it paid on a federal bailout it received during the mid-2000s financial crisis, according to a filing in the state court.

  • June 04, 2024

    Pa. Urged To Increase NOL Cap By Chambers Of Commerce

    A group of 70 chambers of commerce in Pennsylvania urged state leaders to increase the state's cap on net operating loss deductions, which is currently capped at 40%.

  • June 04, 2024

    NY Senate OKs 'Noise Tax' On NYC Helicopter Rides

    New York state aims to impose a tax on some helicopter and seaplane rides in New York City in a bid to clamp down on noise pollution as part of a bill passed by the state Senate.

  • June 04, 2024

    Calif. OTA Denies Couple Extra Worthless Stock Deduction

    A California couple failed to demonstrate that they were entitled to a greater income tax deduction for worthless stock than the state Franchise Tax Board allowed, the state Office of Tax Appeals said in an opinion released Tuesday.

  • June 04, 2024

    W.Va. Revenue Through May Up $618M From Estimates

    West Virginia revenue collections from July through May were $618 million over government estimates, according to the state Budget Office.

  • June 04, 2024

    Calif. OTA Rejects Couple's Claim Of Bolivia Residency

    A California couple owes additional state income tax on a retirement account distribution, the state Office of Tax Appeals said in an opinion released Tuesday, rejecting the pair's assertion that they were domiciled in Bolivia at the time.

  • June 04, 2024

    Colo. Orders Disclosure Of Info On Local Property Tax Levies

    Local jurisdictions in Colorado will be required to provide certain information about their property tax levies under legislation signed into law by Democratic Gov. Jared Polis.

  • June 03, 2024

    Treasury Aims To Salvage Corp. Transparency Act At 11th Circ.

    The Corporate Transparency Act is a valid exercise of congressional authority to curb money laundering under the commerce clause and the necessary and proper clause in the Constitution, the U.S. Treasury Department told the Eleventh Circuit on Monday in a bid to restore the law's reporting requirements.

Expert Analysis

  • Think Like A Lawyer: Forget Everything You Know About IRAC

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    The mode of legal reasoning most students learn in law school, often called “Issue, Rule, Application, Conclusion,” or IRAC, erroneously frames analysis as a separate, discrete step, resulting in disorganized briefs and untold obfuscation — but the fix is pretty simple, says Luke Andrews at Poole Huffman.

  • How New EU Tax And Transfer Pricing Rules May Affect M&A

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    Companies involved in mergers and acquisitions may need to adjust fiscal due diligence procedures to ensure they consider potential far-reaching effects of newly implemented transfer pricing measures, such as newly implemented global minimum tax and European Union anti-tax avoidance directives and proposals, says Patrick Tijhuis at BDO.

  • How Firms Can Ensure Associate Gender Parity Lasts

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    Among associates, women now outnumber men for the first time, but progress toward gender equality at the top of the legal profession remains glacially slow, and firms must implement time-tested solutions to ensure associates’ gender parity lasts throughout their careers, say Kelly Culhane and Nicole Joseph at Culhane Meadows.

  • NY Shouldn't Pair 421-a Restoration And Good Cause Eviction

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    The good cause eviction system of rent control should not be imposed in New York, nor should its legislation be tied to renewal of the 421-a tax abatement program, which New York City desperately needs, says Alexander Lycoyannis at Holland & Knight.

  • 7 Common Myths About Lateral Partner Moves

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    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.

  • DC's Housing Tax Break Proposal: What's In It, What's Missing

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    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.

  • Location, Location, Location: SALT In Review

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    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.

  • 6 Pointers For Attys To Build Trust, Credibility On Social Media

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    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.

  • A Post-Mortem Analysis Of Stroock's Demise

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    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.

  • How 3 New Laws Change Calif. Nonprofits' Legal Landscape

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    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.

  • SG's Office Is Case Study To Help Close Legal Gender Gap

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    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.

  • Thinking Big And Soaking The Rich: SALT In Review

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    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.

  • Reimagining Law Firm Culture To Break The Cycle Of Burnout

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    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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