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Tax

  • October 7, 2014

    Soda Industry Pours Millions Into Calif. Soda Tax Fight

    As the election season approaches, the soda industry is throwing millions of dollars into its fight against proposed sugary drink taxes in San Francisco and Berkeley, California, with the American Beverage Association pouring $7.7 million into its San Francisco battle alone, according to campaign finance records released Monday.

  • October 7, 2014

    McGuireWoods Hires REIT Specialist For Atlanta Office

    McGuireWoods LLP said Monday that it has hired a transactional tax lawyer with significant expertise in real estate investment trusts from an Atlanta firm to beef up its expanding REIT practice in that city.

  • October 7, 2014

    DC Circ. Told US Tax Power Stops At Foreign Retrocessions

    Validus Reinsurance Ltd. on Friday urged the D.C. Circuit to uphold a February district court ruling that the Internal Revenue Service may not collect an excise tax on reinsurance policies between two foreign entities, saying that to do so is outside of the government's constitutional reach.

  • October 7, 2014

    Medtronic Pushes Tax Court For $581M Refund In IP Dispute

    Medtronic Inc. urged the U.S. Tax Court on Monday to determine that its royalty and licensing agreements with its Puerto Rico subsidiary were arm's length deals that shouldn't be included in its taxable income, maintaining that it overpaid its 2005 and 2006 taxes by more than $581 million.

  • October 6, 2014

    ACLU Aims To Lift Stay On Fla. Gay Marriage Ruling

    Following the U.S. Supreme Court's refusal Monday to review seven rulings striking same-sex marriage bans in five states, the Florida chapter of the American Civil Liberties Union said that it will ask a federal judge to lift a stay on his decision finding Florida's ban unconstitutional.

  • October 6, 2014

    Same-Sex Marriage Gets Boost After High Court Inaction

    The U.S. Supreme Court's refusal Monday to enter the fray over same-sex marriage adds momentum to the ongoing push for nationwide legalization by increasing the number of states where it is permitted, but the high court passed up a chance to provide definitive guidance, lawyers say, and will eventually have to weigh in.

  • October 6, 2014

    Lawyers Weigh In On High Court's Same-Sex Marriage Silence

    The U.S. Supreme Court on Monday refused to hear seven petitions seeking review of lower court rulings striking down same-sex marriage bans in five states, preserving decisions that effectively rendered gay marriage legal in Indiana, Wisconsin, Utah, Virginia and Oklahoma. Here, attorneys tell Law360 why the Supreme Court denials are significant.

  • October 6, 2014

    CIT Remands Commerce Mixed-Media Rules In Target Nail Row

    The U.S. Department of Commerce will have to go back to the drawing board for a fourth time on a set of standards it’s trying to write to determine whether tool kits sold by Target Corp. that include China-made nails are subject to a duty order, the Court of International Trade ruled Monday.

  • October 6, 2014

    BakerHostetler Atty's Discipline Records Sought In Tax Case

    A representative of a hedge fund manager alleging that a prominent BakerHostetler partner has a conflict of interest in a $230 million tax fraud case told a New York federal judge on Thursday that the court should publicly release all the materials the firm submitted to a disciplinary committee regarding partner John Moscow.

  • October 6, 2014

    H&R Block's Attempt To Sell Banking Unit Delayed

    H&R Block Inc., attempting to free itself from Federal Reserve rules, said the sale of its banking division is taking longer than expected and will not be done in time for the next tax filing season, blaming a delay in regulatory approval.

  • October 6, 2014

    DOJ Asks High Court To Stay Out Of ACA Subsidy Fight

    The U.S. Department of Justice asked the U.S. Supreme Court not to review a Fourth Circuit decision allowing federal subsidies for Affordable Care Act exchange insurance premiums, saying Friday that the D.C. Circuit’s planned en banc rehearing of a similar case eliminates any need for the high court to step in.

  • October 6, 2014

    Supreme Court Passes On Verizon’s $50M WorldCom Tax Suit

    The U.S. Supreme Court on Monday declined to review the Internal Revenue Service’s imposition of millions in taxes on a bankrupt unit of Verizon Communications Inc. that the telecom giant said could open the door for the agency to apply a decades-old telephone tax to new technology.

  • October 6, 2014

    High Court Declines To Hear Kansas Gas Tax Dispute

    The U.S. Supreme Court on Monday left in place a Kansas high court ruling ordering several oil and gas utilities to pay ad valorem taxes on natural gas that travels through interstate pipelines that pass through the state.

  • October 6, 2014

    In-House Insights From KBR General Counsel Andrew Farley

    We are paying particular attention to attempts to curtail the scope of the attorney-client privilege through the U.S. Securities and Exchange Commission or private lawsuits or to expand the reach and scope of the False Claims Act, says Andrew Farley, executive vice president and general counsel of KBR Inc.

  • October 6, 2014

    High Court Won't Hear Same-Sex Marriage Appeals

    The U.S. Supreme Court on Monday refused to pick up seven petitions over lower court rulings that struck down same-sex marriage bans in five states, leaving intact decisions rendering gay marriage legal in Indiana, Wisconsin, Utah, Virginia and Oklahoma.

  • October 3, 2014

    Orrick Guns For SF Refund Over Partnership Profits Again

    Orrick Herrington & Sutcliffe LLP is once again contesting San Francisco’s voter-approved tax on partnership profit distributions, joining Arnold & Porter LLP and Coblentz Patch Duffy & Bass LLP in seeking about $1 million in tax refunds, according to a complaint filed in state court Thursday.

  • October 3, 2014

    Fla. Tribe Asks High Court To Review Fla. Fuel Tax Ruling

    The Seminole Tribe of Florida has asked the U.S. Supreme Court to take up its case seeking a refund of Florida state fuel excise taxes it has paid, saying the Eleventh Circuit's dismissal has created a circuit split and set dangerous precedent.

  • October 3, 2014

    Taxation With Representation: Cleary, Skadden, Baker

    In this week's Taxation With Representation, Cleary Gottlieb helps Lenovo Inc. score an IBM Inc. unit for $2.1 billion, while Baker & McKenzie helps a Johnson & Johnson entity snap up a viral disease specialist for $1.75 billion.

  • October 3, 2014

    Texas High Court To Mull Tax Exemption For Student Housing

    The Texas Supreme Court on Friday agreed to hear a dispute over whether the Texas Student Housing Authority should be exempt from tax for four years that its dorms housed high school students participating in a university summer program or pay millions of dollars in back taxes.

  • October 3, 2014

    Accountant Pleads Guilty To Hiding Swiss Bank Account

    Forensic accountant and certified fraud examiner Howard Bloomberg pled guilty in Georgia federal court Friday to hiding from the U.S. Treasury Department the fact that he controlled a foreign bank account in Switzerland, the Department of Justice said.