State & Local
-
April 23, 2024
Ky. To Exempt Some EV Charging Stations From Excise Tax
Kentucky will exempt electric vehicle charging stations with a charging capacity of less than 20 kilowatts from the state's excise tax on electric vehicle power under a bill signed by the governor.
-
April 22, 2024
Seattle Property Owners Can't Use COVID To Stop $160M Tax
A Washington appeals court said on Monday that Seattle can keep a $160 million property tax to pay for waterfront improvements, in an opinion that rejected an argument that diminished property values after COVID-19 should force the city to recalculate the tax.
-
April 22, 2024
Pepperidge Farm Says P.L. 86-272 Bars Ill. Tax On NJ Affiliate
Pepperidge Farm asked the Illinois Independent Tax Tribunal to vacate a roughly $944,000 corporate tax assessment, arguing that P.L. 86-272 shielded an out-of-state affiliate's sales-related activities from Illinois income tax.
-
April 22, 2024
Colo. Sales Tax Can't Touch Netflix Subscriptions, Judge Says
A Colorado judge has sided with Netflix Inc. in a fight with the state over whether its streaming service subscriptions are subject to sales tax, finding that because the subscriptions can't be physically touched, they don't fit the law's definition of "tangible" property.
-
April 22, 2024
NY Creates New Affordable Housing, Conversion Tax Breaks
Developers in New York City could qualify for new property tax abatement programs for building affordable housing and converting office buildings into affordable housing units under the New York state budget that Democratic Gov. Kathy Hocul signed into law.
-
April 22, 2024
Iowa Lowers Tax Rates For Captive Insurance Premiums
Iowa will lower the tax rates imposed on some captive insurance companies' reinsurance premiums under a bill signed into law by the governor.
-
April 22, 2024
La. Water Pump Charge Dispute Will Go To Trial
A trial will be needed to decide whether two Louisiana water companies are correct in arguing that a conservation district's charges for pumping water are considered taxes, the state Board of Tax Appeals ruled.
-
April 22, 2024
North Carolina Revenue Through March Up $434M
North Carolina's total revenue collection from July through March was $434 million higher than during the same period last year, according to a report by the state controller office.
-
April 22, 2024
Miss. Tax Collections In March Top Previous Year By $34M
Mississippi collected $34 million more in tax revenue from July through March compared with the same period last year, the state Department of Revenue said.
-
April 22, 2024
Alaska High Court Blocks City From Collecting Back Tax
An Alaskan city that successfully challenged the state's oil and gas property tax system can't assess taxes on the property from the start of the appeal nearly 20 years ago, the state's high court ruled.
-
April 22, 2024
Minn. Tax Panel OKs Corp. Disclosures, Reporting Study
Minnesota would require disclosure of some tax information of large corporations and would examine the state's corporate tax base, including the prospect of worldwide combined reporting, under legislation approved by a House committee.
-
April 22, 2024
Colo. To Forgive Underpayments Caused By State's Bad Info
Colorado will hold vendors harmless for underpayments of sales or use tax caused by errors in a state Department of Revenue information system database under a bill signed by Democratic Gov. Jared Polis.
-
April 22, 2024
Ex-NJ Mayor Used Office To Get Job From Atty, AG Says
The former mayor of Wildwood, New Jersey, has been indicted on new charges accusing him of using his elected position to obtain a job from a city attorney and of not paying state taxes on his earnings from that position, New Jersey Attorney General Matthew J. Platkin announced Monday.
-
April 22, 2024
Colo. Will Standardize Booking Sites' Reporting Requirements
Accommodation intermediaries used to book lodging in Colorado would be treated the same as a marketplace facilitator and won't be required to do additional reporting under a bill signed by Gov. Jared Polis.
-
April 22, 2024
Trump, NY AG Reach Deal To OK $175M Fraud Appeal Bond
Donald Trump's lawyers agreed Monday to bond conditions requiring the former president to give up control of his $175 million cash deposit pending appeal of a $465 million civil fraud judgment, staving off scrutiny from both the New York attorney general and the judge who entered the award.
-
April 22, 2024
NY Offers Tax Credits To News Cos. For Employee Costs
New York will offer income tax credits to independently owned print and broadcast news companies for job creation and retention under a budget bill signed by Gov. Kathy Hochul.
-
April 22, 2024
Mo. Tax Board Says Horse Breeding Farm Is Agricultural Land
A Missouri property used to breed and care for horses that are shown at shows should have been classified as agricultural instead of commercial, the state tax commission ruled.
-
April 22, 2024
Ohio City Tax Applies To Deloitte Remote Worker, Board Says
A former Deloitte employee who lived and worked outside Cincinnati during the coronavirus pandemic is liable for the city's income tax during the period after the Ohio Board of Tax Appeal ruled Monday that recent precedent in a similar case applied.
-
April 22, 2024
Mass. Justices Say For-Profit Biz Can't Duck Billboard Tax
A for-profit advertisement company cannot get a tax exemption for its management of billboards owned by the Massachusetts Bay Transit Authority, the state's high court said Monday.
-
April 22, 2024
Colo. House OKs Ballot Measure On Betting Tax Revenue
Colorado voters would decide whether to let the state keep and spend certain sports betting tax revenue rather than refunding it to casinos under legislation passed by the state House to place the question on the November ballot.
-
April 22, 2024
Okla. To Expand Property, Income Tax Break For Airports
Oklahoma will expand a property and income tax exemption for municipally owned airports in the state under a bill signed by the governor.
-
April 22, 2024
Coverage Recap: Day 1 Of Trump's NY Hush Money Trial
Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments to adult film actress Stormy Daniels ahead of the 2016 election. Here's a full recap from day one.
-
April 19, 2024
Trump On Verge Of Legal History As Full NY Jury Picked
Jury selection wrapped up Friday in the hush money trial of Donald Trump, setting the stage for opening statements to begin on Monday after a New York appeals court denied a last-ditch bid by the former president to delay the unprecedented case.
-
April 19, 2024
Expedia's Win Against La. Hotel Taxes Upheld On Appeal
Expedia and some of its affiliates do not owe Louisiana sales taxes on the full price of accommodation rentals they charged to customers booking through their platforms, a Louisiana appeals court said, upholding a trial court decision.
-
April 19, 2024
Iowa Senate OKs Expedited Transition To Flat Income Tax
Iowa would expedite the state's transition from a graduated individual income tax to a flat income tax and reduce the proposed flat tax rate under a bill the state Senate passed Friday.
Expert Analysis
-
E-Cigarettes And Film Tax Credits: SALT In Review
From excise taxes on e-cigarettes across the land to a study that bolsters doubts about film tax credits, RSM US LLP's David Brunori offers his thoughts on noteworthy state and local tax news.
-
Inside The OECD Transfer Pricing Documentation Guidance
Excerpt from Practical Guidance
The Organization for Economic Cooperation and Development's recently modified documentation guidelines can assist tax administrations in developing requirements for transfer pricing risk assessments and evaluations, and help multinational entity taxpayers demonstrate satisfaction of the arm's-length principle, says Neil Aragones at Lexis Tax.
-
Calif. Tax Board Nonresident Asset Ruling Raises New Issues
The California Franchise Tax Board's recent ruling on whether a nonresident's disposition of a partnership interest gives rise to California-sourced income raises new issues for sourcing gain or loss using partnership apportionment factors where unrealized receivables and inventory are involved, says Eric Coffill at Eversheds Sutherland.
-
Tech Co.'s Suit May Create Hurdles For Research Tax Credits
The recently filed U.S. Tax Court case Perficient v. Commissioner — challenging standards under research credit regulations that determine whether research is funded by any grant or contract — could make it difficult to substantiate research tax credits, say Dennis St. Martin and Kevin Benton at Grant Thornton.
-
A Close Look At The Decentralized Effort To Tax Digital Assets
Clarity on taxation is one of the biggest hurdles to mass adoption of cryptocurrency, and although digital asset innovation has consistently outpaced worldwide government regulation, recent efforts in the U.S. and elsewhere hint at an emerging standard, says Joshua Smeltzer at Gray Reed.
-
Kentucky Tax Talk: Speeding Up Public Service Co. Protests
Public service companies with Kentucky tax liability should consider the recent groundbreaking changes to the state’s protest procedures, particularly if they have protests pending that might be expedited in light of the new legislation, say attorneys at Frost Brown.
-
Notes On Social Equity From A Former Cannabis Regulator
Duane Morris’ Matthew McCarthy, former lead prosecutor in regulatory enforcement actions at the Maryland Medical Cannabis Commission, shares observations on the multifaceted efforts by government and the cannabis business community to build a more equitable industry and foster diverse ownership, highlighting the role of data reporting and community outreach.
-
Watching The Legal Sports Betting Ecosystem Take Shape
The number of U.S. states getting in on the recently legalized $4.29 billion sports-betting industry is on the rise, and stakeholders must be aware that the regulatory scheme looks dramatically different from state to state, say James Johnston and Louis DiLorenzo at Davis+Gilbert.
-
How To Address Research Expenditures Amid Uncertainty
Taxpayers need to prepare for the significant technical and compliance challenges of following Internal Revenue Code Section 174's new rules for experimentation expenditure capitalization and amortization, notwithstanding the rules' unresolved legislative future, say tax advisers at Grant Thornton.
-
Advising A Cannabis Business Amid Patchwork Of Regs
Excerpt from Practical Guidance
As the cannabis industry continues to grow, so does its widely varied patchwork of local, state and federal regulation, and practitioners should familiarize themselves with the specific rules on tax, real estate, intellectual property and banking applicable in the jurisdictions where their clients operate, say Patrick Hines and Fallon Martin at Hodgson Russ.
-
Is NJ's Voluntary Transfer Pricing Initiative Really Voluntary?
The New Jersey Division of Taxation's voluntary transfer pricing audit initiative promises penalty abatement to taxpayers that elect to participate and agree to the division's proposed adjustments, but the effective penalties associated with nonparticipation raise questions about the program's voluntary nature, say attorneys at McDermott.
-
Boardroom Lessons From Shareholders' Diversity Lawsuits
Corporate efforts to promote diversity, equity and inclusion in the workplace are gaining momentum, and shareholder derivative lawsuits offer important lessons on how boards may protect themselves while fostering diverse workforces and safeguarding company goodwill, say attorneys at Covington.
-
Mass. Bills Will Have Broad Impact On Cannabis Industry
Legislation recently passed by both chambers of the Massachusetts Legislature will make sweeping changes to the commonwealth’s cannabis industry, altering everything from municipal agreements to on-site consumption, and improving social equity while reducing businesses' tax burdens, says Cloe Pippin at Foley Hoag.