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Tax

  • August 6, 2014

    4 Flashpoints In SF's Plan To Regulate Airbnb, Others

    As San Francisco officials prepare to weigh in this week on a proposal to regulate users of Airbnb Inc. and other home-sharing sites, several disputes have arisen among zoning regulators, lawmakers and shared-space proponents. From a battle over property owner's rights to tax concerns, here's a breakdown of four of the proposal's provisions that are likely to be the target of intense negotiations.

  • August 6, 2014

    Walgreen's Decision Unlikely To Stem Inversion Tide

    Walgreen Co.'s decision to forgo moving its corporate headquarters overseas to slash its U.S. tax bill is unlikely to stem the popularity of inversions, but experts say the decision reflects the unique problem Walgreen faced as a retailer: how its customers would react.

  • August 6, 2014

    US Tax Court Nixes Penalties In Conservation Easement Row

    The U.S. Tax Court on Wednesday refused to assess penalties against a couple who wrongly claimed a $1.6 million charitable tax deduction for a conservation easement after finding they reasonably relied on their expert’s property appraisal.

  • August 6, 2014

    Ford Unit Wins Review Of NJ Tax Liability Calculations

    The New Jersey Tax Court on Tuesday ordered the state Division of Taxation to recalculate Ford Motor Credit Co.'s corporate tax liabilities for 2002 and 2003, finding that the agency must factor in certain depreciation to the tune of $5.2 billion.

  • August 6, 2014

    Target, Pfizer, Others Voice Support For Gay Marriage

    Target Corp., Pfizer Inc., Amazon.com Inc. and a number of other big-name companies in the hospitality, food and technology industries told the Seventh Circuit on Tuesday that same-sex marriage bans, like those in Wisconsin and Indiana, have forced them to implement employment policies “inconsistent” with maintaining a diverse workforce.

  • August 6, 2014

    Walt Disney Not Interested In Tax Busting Inversion Move

    The Walt Disney Co. is staying put in the U.S. and isn’t interested in doing a corporate inversion deal to lower its tax rate, company CEO Bob Iger told CNBC on Tuesday.

  • August 6, 2014

    Arent Fox Adds Auto Partner To NY Office

    Arent Fox LLP announced Wednesday it has added a partner from Robinson Brog Leinwand Greene Genovese & Gluck PC to strengthen its New York automotive practice with his experience handling regulatory compliance, factory-dealer relations, taxation and the purchase and sale of automotive franchises.

  • August 6, 2014

    Minn. Tax Court Trims Ford Property Assessment

    A Minnesota tax court on Tuesday partially upheld a tax assessor’s estimated market values for the 2007 to 2011 tax years for a former Ford Motor Co. vehicle assembly plant set to be redeveloped as a mixed-use building, but ordered the values of another parcel on the property be decreased by a total of $132.8 million and the real estate taxes adjusted accordingly.

  • August 6, 2014

    Thailand's Oil Co. Wins $3.1M Australian Appeal

    Thailand's national petroleum exploration and production company has won an appeal in Australia in its lawsuit against the country's taxation authority over more than $3.1 million in assessable petroleum income and indemnity for court proceedings. 

  • August 6, 2014

    Mo. Voters Ax $6B Sales Tax Hike To Fund Highway Fixes

    Missouri voters on Tuesday crushed a measure that would have raised the state sales tax by nearly 1 percent for 10 years and generated over $6 billion to fund state and local highways, roads, bridges and transportation projects.

  • August 6, 2014

    Utah Asks High Court To Weigh In On Gay-Marriage Ban

    Utah’s attorney general on Tuesday asked the U.S. Supreme Court to reverse a ruling that struck down its gay-marriage ban, marking the first time the high court has been asked to weigh in on the issue since it found a portion of the Defense of Marriage Act unconstitutional last year.

  • August 6, 2014

    Wachtell Guides Walgreen In $15B Deal for Alliance Boots

    Walgreen Co. confirmed Wednesday it is going through with plans for a $15 billion acquisition of European drugstore chain Alliance Boots GmbH, creating a global pharmacy enterprise, while declining to pursue a so-called corporate inversion that would have moved the Illinois-based drugstore’s tax home outside the U.S.

  • August 5, 2014

    Treasury Working To Bypass Congress On Inversions

    As media and congressional attention intensifies on corporate inversions, the U.S. Department of the Treasury is quietly considering how it can bypass a politically gridlocked Congress and use administrative measures to blunt the transactions' tax advantages, a Treasury representative told Law360 Tuesday.

  • August 5, 2014

    Walgreen To Keep HQ In US, Reject Inversion, Reports Say

    Walgreen Co. is reportedly close to completing a multibillion-dollar acquisition of European drug store chain Alliance Boots GmbH, but will decline an option to move its corporate headquarters from the U.S. to a low-tax jurisdiction overseas following criticism for considering a so-called corporate inversion.

  • August 5, 2014

    Fourth Judge Rules Fla. Gay Marriage Ban Unconstitutional

    Just one day after a Broward County judge deemed Florida's ban on same-sex marriage unconstitutional, a judge in Palm Beach County on Tuesday came to the same conclusion in a case over a will left by a man who had wed his partner in Delaware.

  • August 5, 2014

    Tax Court Isn't Sole Forum For NJ Assessment Row: Court

    A New Jersey appeals court has reversed a lower court's ruling that declined to enforce a settlement agreement between a property owner and the Township of Howell because it had found that the property owner failed to file a timely appeal in tax court.

  • August 5, 2014

    Webster Bank Says Fees Don't Rob Gov't Of Tax Dollars

    Webster Bank NA wants a Colorado federal judge to toss a False Claims Act suit alleging the bank improperly deducted monthly fees from customers' tax-advantaged health savings accounts, arguing in a court filing Tuesday that the fees haven't deprived the government of any money. 

  • August 5, 2014

    Watchdog Finds IRS Doing Solid Job Providing ACA Data

    The Internal Revenue Service is largely providing accurate data to health insurance exchanges to determine eligibility for a tax credit under the Affordable Care Act, a U.S. Department of the Treasury watchdog said in a report made public Tuesday.

  • August 5, 2014

    Son Of Pa. Rep Faces Fraud Charges Over Loan, Tax Lies

    The son of U.S. Congressman Chaka Fattah, D-Pennsylvania, was charged with defrauding banks and the Internal Revenue Service of hundreds of thousands of dollars in a federal indictment unsealed on Tuesday.

  • August 5, 2014

    NJ Must Revisit Biz Tax Calculations For Toyota Leasing Arm

    New Jersey's tax division must recalculate Toyota Motor Credit Corp.'s corporate business tax liabilities for the 2003-2006 tax years after a state tax court found multiple errors in how the state apportioned out-of-state income and handled depreciation gains, according to an opinion released Tuesday.