State & Local
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April 12, 2024
Trump Voir Dire Aims To Keep Ballot Box Out Of The Jury Box
As jury selection begins Monday in the first-ever criminal trial against a former president, experts say both the Manhattan District Attorney's Office and lawyers for Donald Trump will rely on voir dire questioning and social media sleuthing to keep out jurors who'd use their civic duty to "have a stronger vote in the next presidential election."
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April 11, 2024
Biz Owners Tell House Panel Extending Tax Cuts Is Crucial
It is essential that Congress extends provisions of the 2017 tax law that are set to expire in 2025, especially the law's pass-through deduction, business leaders told the House Ways and Means Committee on Thursday.
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April 11, 2024
Mich. Justices Wade Into Due Process Fight Over Tax Appeal
The Michigan Supreme Court will review a dispute over whether a packaging company's tax exemption appeal can be heard by the state's Tax Tribunal, the court said in an order.
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April 11, 2024
Minn. Bill Aims To Expand Sales Tax Break For Baby Products
Minnesota would expand an existing sales and use tax exemption for certain baby products to include all baby products under a bill introduced Thursday in the state Senate.
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April 11, 2024
Maine Eliminates Municipal Property Tax Levy Limits
Maine will no longer set limits on the amount that local municipalities can increase property taxes by each year as part of a law signed by the state's governor.
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April 11, 2024
Minn. Senate Bill Seeks Sales Tax Break For School Supplies
Minnesota would exempt all school supplies from sales and use tax under a bill introduced Thursday in the state Senate.
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April 11, 2024
Proskauer Adds Kirkland Partner For Tax, Estate Issues
Proskauer Rose LLP has added to its private client services department a partner from Kirkland & Ellis LLP who specializes in developing domestic and international tax and estate plans for clients with very high net worth, the firm announced.
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April 11, 2024
NY ALJ Denies Tax Refund For Leased Car Moved To Pa.
A New York resident was correctly denied a partial sales and use tax refund on a leased vehicle for a period after he moved to Pennsylvania, a New York administrative law judge determined Thursday.
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April 11, 2024
Calif. Panel OKs Requiring Disclosure Of Sales Tax Rebates
California would require local jurisdictions to publish agreements that result in direct or indirect payment, diversion or rebate of local sales tax revenue and to disclose information to the state under a bill advanced by the state Assembly's tax panel.
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April 11, 2024
Tenn. Senate Rejects Less Costly Corp. Tax Break Plan
The Tennessee Senate rejected Thursday a less costly House of Representatives version of legislation to reform the state's corporate franchise tax and refund some past payments, sending it back to the House.
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April 11, 2024
Neb. Lawmakers Advance Digital Ad Tax, Property Tax Relief
A proposal by Nebraska's Republican governor to enact a tax on digital advertising and nix some sales tax exemptions to fund property tax relief advanced in the state Legislature, despite calls to postpone the bill.
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April 11, 2024
Ariz. To Create Certification Of 3rd-Party Sales Tax Sourcing
The Arizona Department of Revenue will create a certification process for third-party providers of sales tax sourcing services under legislation signed into law.
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April 11, 2024
Minn. Senate Bill Would Cut Corp. Franchise Tax Rate
Minnesota would cut its corporate franchise tax rate starting in the current tax year under legislation introduced Thursday in the state Senate.
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April 10, 2024
Iowa Lawmakers OK Lowering Captive Insurer Premium Taxes
Iowa would lower the rate of tax imposed on some captive insurance companies' reinsurance premiums under a bill unanimously approved by the state Senate and headed to the governor.
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April 10, 2024
Ky. Gov. Rejects Tax Amnesty Program, Bullion Tax Break
Kentucky's governor vetoed provisions in an omnibus tax bill that would have offered a tax amnesty program and created a sales tax exemption for metal bullion.
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April 10, 2024
Pa. House Bill Seeks Remote Worker Corp. Tax Exemption
Any corporation based outside Pennsylvania would not be required to remit corporate net income tax in the state if the corporation's remote workers worked from the commonwealth less than 50% of the time under a bill introduced in the House Appropriations Committee.
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April 10, 2024
Trump Fails Again To Halt NY Trial Over Claim Judge Is Biased
Donald Trump on Wednesday tried and failed for the third time in as many days to delay his upcoming hush-money trial, after arguing the judge should be removed for supposed bias and that the judge's rules were preventing him from defending himself.
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April 10, 2024
Rhode Island Extends Filing, Payment Deadlines After Storms
Rhode Island will extend some state tax filing and payment deadlines from April to July for people and businesses affected by storms and flooding, the state Division of Taxation said Wednesday.
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April 10, 2024
Pa. House Committee To Consider SALT Cap Workaround
Pennsylvania would allow pass-through entities to elect to be taxed at the entity level as a workaround to the $10,000 federal cap on state and local tax deductions under a bill referred to the House Appropriations Committee.
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April 10, 2024
NC Tax Revenue Collection Through Feb. Down $187M
North Carolina's total revenue from July through February was roughly $187 million below last year's figure, according to a monthly report released by the state controller office.
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April 10, 2024
Md. Digital Ad Tax Rule Illegally Bars Speech, Chamber Says
A provision in Maryland's digital ad tax law barring companies from directly passing the tax through to consumers regulates companies' speech, not just their conduct, violating the First Amendment, business groups told a federal court.
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April 10, 2024
Ex-Trump Finance Chief Weisselberg Jailed For Perjury
A New York state judge on Wednesday sentenced former Trump Organization Chief Financial Officer Allen Weisselberg to five months in jail for lying under oath in the attorney general's civil fraud case against Donald Trump and his business associates, imprisoning a close ally of the former president on the eve of his hush-money trial.
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April 09, 2024
NYC Developers Get $270M In Financing For Brooklyn Project
The Gotham Organization, Monadnock Development and the Christian Cultural Center obtained $270 million in construction financing for the first phase of their mixed-use Innovative Urban Village project in Brooklyn, New York, according to an announcement.
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April 09, 2024
NYC Developers Blame Tax Break Loss For Apartment Slump
The foundation application filings for multifamily housing in New York City declined significantly in March, which signifies a decline that began after the city's 421-A tax break expired in June 2022, the NYC developer trade group Real Estate Board of New York stated.
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April 09, 2024
Ohio Rep. Says Energy Taxes Could Offset Proposed Cuts
Lost revenue resulting from a bill to end Ohio's income and business receipts taxes could come from new or increased taxes on energy production, a sponsor of the legislation told a state House of Representatives panel Tuesday.
Expert Analysis
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Lessons For Federal Lawmakers As Calif. Alters Cannabis Tax
California recently eliminated a cultivation tax that had for years burdened the state’s licensed cannabis market, providing important lessons for federal lawmakers on cumbersome regulations and unduly high taxes as they debate legalization, says Raza Lawrence at Zuber Lawler.
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Texas Tax Talk: Ruling May Erode Pro-Taxpayer Presumption
Following the recent Texas Supreme Court opinion in Hegar v. Health Care Service, the state comptroller may try to limit the utility of a long-standing presumption that ambiguous tax statutes must be construed strictly against the taxing authority and liberally for the taxpayer, say attorneys at Baker Botts.
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MTC Activity And Tax Rebates All Over: SALT In Review
From the highly active Multistate Tax Commission to tax rebates seemingly everywhere, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Emerging SALT Trends For Cryptocurrency And NFTs
Attorneys at Venable discuss trends in state and local tax with respect to cryptocurrency and non-fungible tokens, and the issues for purchasers, sellers and owners in this growing marketplace that SALT authorities must address.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.