State & Local

  • October 26, 2022

    Ore. Dept. Floats Guidance For Administering Psilocybin Tax

    Oregon would provide guidance on the administration of the state's tax on psilocybin, a psychedelic compound found in mushrooms, under regulations proposed by the state Department of Revenue.

  • October 26, 2022

    Tax Authority 2022 Ballot Measure Map

    Next month, citizens across the country will decide the fate of significant tax-related measures when they head to the polls, including closely watched measures seeking to increase personal income tax on millionaires in California and Massachusetts, and to legalize and tax marijuana in numerous states. Here, Law360 Tax Authority has selected the most significant ballot measures up for vote on Nov. 8.

  • October 26, 2022

    Colo. Cities Seek More Retailer Info From State System

    Local Colorado tax jurisdictions could use more information from the state on retailers that apply for the statewide sales tax license, local government officials told the state tax department Wednesday.

  • October 26, 2022

    SD Publishes Explanations For Grocery Tax Repeal Initiatives

    South Dakota's attorney general published draft explanations for two initiatives that could appear on future ballots and would repeal the state's sales tax on groceries, one by changing the state's constitution and the other as an initiated measure.

  • October 26, 2022

    Fla. To Raise Floating Interest Rate On Tax Payments

    Florida will increase its floating interest rate on tax payments by 2 percentage points beginning in 2023, the state Department of Revenue said Wednesday.

  • October 26, 2022

    Ill. OKs Alternative Apportionment For Co.'s Post-Sale Income

    A company could apportion interest and income from the sale of rights to receive future contingent payments in the same manner as it did when apportioning a sale to a third party, the Illinois Department of Revenue said Wednesday.

  • October 26, 2022

    Mass. To Pay $3.5M To Settle NH's Property Tax Claims

    Massachusetts will pay New Hampshire roughly $3.5 million to cover property tax revenue lost by the latter state from land used by the federal government for flood mitigation facilities, the New Hampshire attorney general announced Wednesday.

  • October 26, 2022

    Bank Rebuffs Fixed Records Claims From Cannabis Co.

    Cann Distributors and the cannabis industry banking firm it has accused of withholding its money continue to spar over discovery after their last conflict frustrated the judge overseeing their case, prompting him to warn that "sanctions are going to fly."

  • October 26, 2022

    Colo. Voters To Consider Income Tax Measures

    Colorado voters will vote next month on two measures that would cut the state's corporate and income tax rates and raise revenue by limiting income tax deductions by high-income earners. And Denver residents will be asked whether landlords should be taxed to fund legal representation of those facing eviction. Here, Law360 presents a rundown of three state and local tax ballot measures and how they could affect residents.

  • October 26, 2022

    Pa. Legislature OKs Philly NOL Carryforward Extension

    The net operating loss carryforward period for Philadelphia business taxes would be extended from three years to 20 years under a bill approved by the Pennsylvania Legislature.

  • October 25, 2022

    'Hate' For Trump Weeded Out As Jurors Picked For Fraud Trial

    A Manhattan judge presiding over the criminal fraud trial against the Trump Organization cut potential jurors Tuesday who claimed they could be impartial despite admitting strong negative views of Donald Trump.

  • October 25, 2022

    SC Says Tax Applies To Injectable Meds For Hospitals

    Retail sales of certain injectable medications for use in hospitals or independent surgery centers are not exempt from sales and use tax under the applicable section of state tax law, the South Carolina Department of Revenue said Tuesday.

  • October 25, 2022

    Ex-Uber Exec Asks Court To Uphold His Tax-Free Settlement

    An ex-Uber Technologies executive who declared bankruptcy after admitting to stealing trade secrets from Google asked a California federal court to uphold a decision freeing his settlement with the companies from income taxes, saying the bankruptcy court had authority to determine his bottom-line liability.

  • October 25, 2022

    SC Dept. Clarifies Limits Of Watercraft Motor Sales Taxes

    Purchases of watercraft motors in South Carolina are exempt from local sales and use taxes and have a state sales tax capped at $500, the state Department of Revenue said in an advisory opinion released Tuesday.

  • October 25, 2022

    Ohio High Court Told Remote Work Tax Violates Due Process

    An Ohio law that allowed cities including Cincinnati to tax remote workers at the beginning of the pandemic violates due process protections afforded by the U.S. and Ohio constitutions, one such worker argued to the state's justices.

  • October 25, 2022

    Texas, Miss., La. Urge 5th Circ. To Affirm Win In ARPA Tax Fight

    Texas, Mississippi and Louisiana asked the Fifth Circuit to affirm a judge's injunction barring the federal government from enforcing a provision in the American Rescue Plan Act that prohibits states from using pandemic aid to offset tax cuts.

  • October 25, 2022

    Colo. Real Estate Transfer Fee Proposed For 2023 Ballot

    Colorado would impose a 0.1% fee on real estate transfers to fund programs to promote housing for middle-income residents under a voter initiative proposed for the 2023 ballot.

  • October 25, 2022

    Pa. Senate OKs Conforming To Federal Taxation Of Trusts

    Pennsylvania would require the grantor of a trust-pay tax on income received by a resident trust or on income that a nonresident trust receives from sources in the commonwealth under a bill passed in the state Senate.

  • October 25, 2022

    Akin Gump Adds Two Choate Attys To Tax Practice

    Akin Gump Strauss Hauer & Feld LLP said Tuesday it has added two former Choate Hall & Stewart LLP attorneys to its tax practice, one of whom previously worked for the firm.

  • October 25, 2022

    Pa. Court OKs Settlement In Allstate Sales Tax Class Action

    A Pennsylvania federal court approved a class action settlement over the reimbursement of sales tax to customers with leased vehicles that were totaled.

  • October 24, 2022

    Xerox Urges Texas High Court To Pass On $4.3M Tax Dispute

    Xerox urged the Texas Supreme Court to decline hearing the state comptroller's appeal of a finding that the company qualified for a reduced franchise tax rate offered to businesses that were primarily engaged in wholesale activities and was owed a $4.3 million refund.

  • October 24, 2022

    NJ Bill Seeks To Create Tax Credits For Student Loan Payments

    New Jersey would provide refundable gross income tax credits for qualifying student loan payments under a bill introduced in the state General Assembly.

  • October 24, 2022

    Trump Organization Jury Pool Winnowed As Some Admit Bias

    Jury selection in the criminal case against the Trump Organization began Monday with dozens of potential jurors seeking to excuse themselves and some expressing bias against the former president's company as they left the courthouse.

  • October 24, 2022

    Catching Up With Delaware's Chancery Court

    A cryptocurrency company sues over social media slurs, a celebrity rapper feuds with a distiller over cognac, and a "no glasses" 3D television company gets a new temporary boss. Where else could all this happen but in Delaware's Court of Chancery?

  • October 24, 2022

    Md. Tax Dept. OKs Property Depreciation To Salvage Value

    Maryland will allow depreciation of personal property down to its salvage value under an amended regulation adopted by the state Department of Assessments and Taxation.

Expert Analysis

  • La. Taxpayers Deserve Opportunity To Support Deductions

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    Recently, the Louisiana Department of Revenue has been more aggressive in rejecting legitimate interest expense deductions, but state and federal precedent demonstrate taxpayers should be allowed to prove that interest expenses can be traced to a particular income class, say attorneys at Kean Miller.

  • It's Time To Invalidate Single-Sales Factor For Biz Income Tax

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    The single-sales factor formula for corporate income tax apportionment is a distorted, irrational approach to approximating business activity value, and we predict this method will be deemed unconstitutional in the next decade, say Don Griswold and Marty Dakessian at Dakessian Law.

  • Justices Likely To Shield Treasury From Preemptive Action

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    Recent U.S. Supreme Court oral arguments in CIC Services v. Internal Revenue Service suggest the court will resolve a circuit split by ruling the Anti-Injunction Act shields the U.S. Department of the Treasury from preemptive challenges — bad news for those hoping to challenge unfavorable regulations, says Monte Silver at Silver & Co.

  • Next Steps For Now-Legal Mississippi Medical Marijuana

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    While unlikely to derail Mississippi's rollout of newly legal medical marijuana, a shortage of funds and a state Supreme Court review are among the challenges the state faces as it prepares for summer availability, says Ben Mitchell at Butler Snow.

  • Opportunity Zone Investment Options Should Be Expanded

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    Future opportunity zone legislation should limit the capital gains requirement and broaden tax incentives to allow participation from currently excluded investors with deep connections to community revitalization, says Venroy July at Miles & Stockbridge.

  • 2020 Election May Mark A Turning Point For Marijuana Law

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    Following the November election, the marijuana industry is more likely than ever to accelerate its exponential growth as new state legalizations pressure nearby revenue-hungry states to reform their own laws — and these developments could force changes on the federal level as well, says Tom Firestone at Baker McKenzie.

  • Ohio Tax Talk: Takeaways In Intangible Contract Rights Ruling

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    Ohio taxpayers who generate revenue from sales of certain intangible property and services can learn important lessons from Defender Security v. McClain, a recent state supreme court decision on situsing and documentation, says Christopher Tassone at Frost Brown.

  • Post-Election Financial Services Regulatory Outlook

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    Attorneys at Arnold & Porter explore regulatory expectations for the financial services sector in the wake of the presidential election, including federal agency leadership, banking regulation and agency actions, renewed focus on consumer protection, predictions for fintech, and prospects for a new financial transaction tax.

  • NY Right To Investigate Trump Consulting Fees For Tax Fraud

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    New York authorities correctly put aside political considerations and took the appropriate first step in any tax fraud investigation by seeking bank and corporate records to investigate potential connections between Trump Organization write-offs and income mirrored by Ivanka Trump's consulting company, says Daren Firestone at Levy Firestone.

  • NJ Cannabis Strides Highlight Nearby States' Need To Legalize

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    As New Jersey's ballot measure approving adult-use cannabis gives the state a strong head start in the race to legalization, neighboring states Pennsylvania, New York and Connecticut need to move quickly to follow suit or risk losing out on significant cannabis tax revenue, say attorneys at Saul Ewing.

  • Colo. Tax Vote Offers Insights On Framing Policy

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    Colorado residents’ recent decision to incrementally lower the state income tax rate shows that voters may not consider overarching consequences for infrastructure and services when presented with the opportunity for even a modest tax cut without a specific negative impact, says Trey Rogers of the Denver Metro Chamber of Commerce.

  • Ala. High Court Ruling Jeopardizes Tax Sales Held In Court

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    The Alabama Supreme Court’s recent refusal to reconsider its decision in Stiff v. Equivest Financial — that a tax sale occurring inside the courthouse, and not on the front steps, was void — gives taxpayers ammunition to invalidate an untold number of tax sales across the state, say attorneys at Nelson Mullins.

  • Business Community Mostly Wins On Tax Ballot Measures

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    Thanks to corporate efforts, voters across the country rejected a range of state and local ballot measures that would have raised taxes, with the exception of San Francisco, where a slew of changes will create significant compliance challenges for businesses, say attorneys at Eversheds Sutherland.

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