State & Local

  • October 28, 2022

    The Cannabis Attorneys Who Take The DEA To Court

    Two attorneys talk to Law360 about the role that impact litigation plays in drug policy reform, what they expect to see from the president's order reviewing marijuana's Schedule I status, and what they really think of the Drug Enforcement Administration lawyers who work across from them.

  • October 28, 2022

    Calif. Rebuffs Tribes' Bid For $1.1M Atty Fee In Gaming Appeal

    California and its governor, Gavin Newsom, say five Native American tribes that earlier this year won a Ninth Circuit decision over their gaming negotiations with the state are not entitled to more than $1.1 million in attorney fees, since federal Indian law offers no such relief.

  • October 28, 2022

    Neb. Top Court Reverses Cut To Farm Property's Valuation

    The Nebraska Supreme Court struck down a ruling that reclassified and lowered the assessments of a farm property, rejecting the owners' argument that most of the property was incorrectly classified by local assessor as irrigated cropland.

  • October 28, 2022

    Taxation With Representation: Sullivan, Latham, Fenwick

    In this week's Taxation With Representation, Myovant Sciences' stock rose after it accepted a deal, JKN Global Media Public Co. Ltd. is purchasing the Miss Universe Organization, Regal Rexnord Corp. will acquire Altra Industrial Motion Corp., and two private equity firms acquired UserTesting.

  • October 28, 2022

    NJ Assembly OKs Biz Costs Deduction For Pot Cos.

    New Jersey would allow cannabis licensees to claim deductions against state income that are equal to disallowed federal deductions under a bill that passed the state's General Assembly on Thursday.

  • October 28, 2022

    Ore. Tax Dept. Seeks To Clarify Capital Loss Deduction Regs

    Oregon would clarify the process for calculating a state capital loss deduction under regulatory amendments proposed by the state Department of Revenue.

  • October 27, 2022

    Trump Org Meets Jury In Fraud Trial, Trump Skeptics Included

    Trump Organization attorneys and New York prosecutors have selected a jury in the criminal tax fraud case against two Trump companies, cobbling together a cross-section of the city including several who voiced negative opinions about the former president.

  • October 27, 2022

    Trump Org. Slams NY AG In Response To $250M Fraud Case

    The New York attorney general's lawsuit accusing former President Donald Trump of a $250 million scheme to defraud banks using misleading financial statements is "politically motivated" and "rides to the rescue" of corporate titans, a slew of Trump entities said in a filing.

  • October 27, 2022

    Ill. Bill Would Delay Motor Fuel Tax Rate Hike Based On CPI

    Illinois would hold off on imposing an increase in the rate of tax on motor fuel based on the change in the consumer price index for six months under a bill introduced in the state House of Representatives.

  • October 27, 2022

    Wash. Corp. Can't Claim Deductions Without Proof, DOR Rules

    A Washington financial institution can't deduct interest received on investments or interest earned on obligations of the federal government after failing to provide documentation of eligibility, the state Department of Revenue ruled.

  • October 27, 2022

    Oil Industry Should Embrace Windfall Taxes, Shell CEO Says

    The fossil fuel industry should accept that it is sensible for governments to impose taxes on windfall profits to alleviate the impact of high energy prices on society's most vulnerable, Shell's CEO said Thursday.

  • October 27, 2022

    Special Master In MoneyGram Case Partially Reverses Opinion

    A special master advising the U.S. Supreme Court on an interstate battle over claim to abandoned MoneyGram checks has partially reversed his earlier opinion on whether federal unclaimed property law governs all the checks, according to an order Law360 obtained Thursday.

  • October 27, 2022

    NY Appeals Court Backs $100M Valuation Of Mall Property

    A New York appeals court upheld a lower court's ruling that a mall property was correctly valued around $100 million over three years, finding on Thursday that the property owner failed to prove that local competition and other factors warranted a lower valuation.

  • October 27, 2022

    Pa. Lawmakers OK Raising Threshold For Estimated Payments

    Pennsylvania would gradually increase the income threshold for making required estimated personal income tax payments and enact amendments to establish economic development tax credits under a bill headed to Democratic Gov. Tom Wolf for consideration.

  • October 27, 2022

    6th Circ. Hesitant To Revive Mich. Home Insurance Spat

    A Sixth Circuit panel on Thursday appeared skeptical of a Detroit homeowner's argument that Liberty Mutual violated Michigan underwriting laws by rescinding a home insurance policy because the home's previous owner failed to pay property taxes.

  • October 27, 2022

    Tenn. Property Tax Assessment Voided Due To Mail Problems

    A rollback assessment on a property that was denied a special land classification was voided by a Tennessee administrative judge because the owner did not receive a timely notice of the disqualification due to mailing issues.

  • October 27, 2022

    Former Faegre Drinker Tax Duo Moves To Flaster Greenberg

    A pair of attorneys specializing in like-kind real estate investment transactions has moved their practice from Faegre Drinker Biddle & Reath LLP to Flaster Greenberg PC's office in the Philadelphia suburbs.

  • October 27, 2022

    La. Man Can Seek Tax Refund On Seized Funds, Court Says

    A Louisiana man's filing of a tax return that claimed an entitlement to a refund after his bank account was seized by the state Department of Revenue was a proper and timely refund request, a state appeals court ruled.

  • October 27, 2022

    DC Completes Fix Of Affordable Housing Tax Break Glitch

    The District of Columbia will limit property tax abatements in an affordable housing program to an amount certified by the mayor under a measure that extends an emergency act fixing a potential error in previous legislation.

  • October 27, 2022

    FinCEN Renews Real Estate Reporting, Expands To Houston

    Title insurance companies are now required to name the people behind corporate entities buying residential real estate in the Texas cities of Houston and Laredo in certain nonfinanced deals, according to the U.S. Department of the Treasury's Financial Crimes Enforcement Network.

  • October 27, 2022

    Wash. Farmer Wins Biz Tax Exemption, Owes Use Tax

    A Washington farmer can claim an exemption from business and occupation taxes on revenue from harvesting and cultivation services, but must pay use tax on certain equipment, the state's tax department said.

  • October 27, 2022

    LA Cannabis Co. Owes $60K For Taxes And Fees, City Says

    A California cannabis company owes the city of Los Angeles about $60,000 for unpaid tax assessments and should be made to pay up after not filing a responsive pleading, a recent filing contends.

  • October 27, 2022

    Wash. Tax Dept. Pegs Law Firm Income To Client Headquarters

    An out-of-state patent law firm's income must be apportioned to of Washington state based on the location of the corporate headquarters of its customers, the state tax department said.

  • October 26, 2022

    Feds Reportedly Investigating Sen. Bob Menendez Again

    Five years after beating the government's corruption case, U.S. Sen. Bob Menendez is facing a new federal investigation, an adviser to the senator confirmed to Law360 on Wednesday.

  • October 26, 2022

    Ore. Floats New Rules For Elective Pass-Through Entity Tax

    Oregon would amend and add new rules to implement the state's elective pass-through entity tax under regulations proposed by the state Department of Revenue.

Expert Analysis

  • DC Taxpayers Face More Scrutiny Under New False Claims Act

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    Business and high-income earners should consider risk-mitigation measures as the recent expansion of the Washington, D.C., False Claims Act to encompass tax-related claims extends the statute of limitations for tax fraud claims, stiffens penalties and incentivizes private citizen whistleblowers, say attorneys at Troutman Pepper.

  • SD Ruling Threatens Marijuana Legalization Momentum

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    A South Dakota state court decision in Thom v. Barnett, invalidating a state constitutional amendment legalizing recreational marijuana, serves as a reminder that legalization efforts at any level could meet some resistance, says David Standa at Locke Lord.

  • Ohio Tax Talk: Don't Neglect The Business Income Deduction

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    While the Ohio business income deduction is frequently forgotten or misunderstood by taxpayers, in part due to conflicting guidance from the Ohio Supreme Court and the Department of Taxation, tax preparers should look to the mechanics of business income to reap the deduction's benefits this tax season, say Christopher Tassone and Edward Rivin at Frost Brown.

  • La. Tax Talk: Fair Market Value, Jeopardy, Inventory Tax Credit

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    Louisiana corporate taxpayers have recently notched a couple of victories against the Louisiana Department of Revenue, including in the fair market valuation and nexus arenas, say attorneys at Kean Miller.

  • 10 State And Local Tax Predictions For 2021

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    Chuck Jones, Lori Stolly and Patrick Skeehan at Grant Thornton forecast the biggest state and local tax issues for 2021 as jurisdictions continue to deal with the economic fallout of the COVID-19 pandemic.

  • How To Reliably Value Income-Producing Real Estate

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    Amid the pandemic-fueled surge in tax appeals and loan workouts, using the income approach to calculate the present worth of a property's future income provides the most reliable indication of value and does not rely on subjective adjustments, say Mark Dunec at FTI Consulting and Anthony DellaPelle at McKirdy Riskin.

  • What's On The Horizon For Unclaimed Property In 2021

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    Unclaimed property professionals who run holder compliance programs should buckle themselves in for what portends to be a perfect storm of legislative, enforcement and litigation contests this year between state administrators and holders, say attorneys at Alston & Bird.

  • 2 Cases Highlight Superpriority Lien Risks For Lenders

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    Two recent decisions from a New York state court and a Nevada federal court reaffirm the importance of lenders paying off superpriority liens, which may extinguish their mortgages or deeds of trust if not swiftly addressed, say Michael O'Donnell and Michael Crowley at Riker Danzig.

  • 5 Significant Louisiana Tax Developments Of 2020

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    Despite being under lockdown for most of 2020, the Louisiana courts and Legislature were very active on tax issues — including the tax treatment of marketplace facilitators, complimentary hotel rooms and out-of-state companies — with both good and bad results for taxpayers, say attorneys at Kean Miller.

  • NY Tax Talk: 2020 In The Rearview

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    Craig Reilly at Hodgson Russ highlights New York City's and state's notable tax updates from the last year — many of them related to budget shortfalls due to COVID-19 — and wishes good riddance to 2020.

  • Kentucky Tax Talk: What's On Next Year's Legislative Agenda

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    As the Kentucky Legislature gears up for its 2021 session, taxpayers should watch out for several proposed changes, including property tax assessment modifications and sector tax breaks, say attorneys at Frost Brown.

  • The Future Of Drug Decriminalization After Oregon

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    Advocates intend to use Oregon's new law decriminalizing personal possession of cocaine, heroin and methamphetamines to achieve similar reforms elsewhere, but unlike marijuana reform, the broader drug decriminalization movement may not prove as popular with other states, says Tom Firestone at Baker McKenzie.

  • Texas Tax Talk: 2021's Legislative Priorities

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    Despite concerns that COVID-19 uncertainty may limit the next Texas legislative session, the Legislature is likely to prioritize property tax proposals including those addressing school district taxes, appraisal comparables and sales tax increases, say Matt Larsen and Derek Young of Baker Botts.

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