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Tax

  • May 8, 2013

    Calif. Appeals Court Finds Property Tax Law Unconstitutional

    A California appeals court on Tuesday sided with the California State Teachers' Retirement System in a suit seeking the refund of property taxes against Los Angeles County, saying there were two constitutional defects in a the valuation methodology of a tax statute.

  • May 8, 2013

    Entergy Can't Block Vt.'s $13M Plant Levy, 2nd Circ. Hears

    The state of Vermont on Tuesday hit back at Entergy Corp.’s attempt to block a $13 million annual levy imposed on its Vermont Yankee nuclear power plant, telling the Second Circuit that the levy was a tax the state was allowed to impose without federal interference.

  • May 6, 2013

    Senate Passes Bill To Let States Collect Online Sales Tax

    The U.S. Senate on Monday passed the Marketplace Fairness Act of 2013, which would for the first time give state and local governments the ability to collect sales tax on out-of-state, catalog and online sales.

  • May 6, 2013

    Pa. House Votes To Plug Gap Letting Taxes Flow Out Of State

    Pennsylvania lawmakers signed off on legislation Monday aimed at closing a loophole that allows corporations to transfer assets to out-of-state holding companies to minimize tax obligations, even as critics said it would cost Pennsylvania hundreds of millions of dollars in the long run by lowering corporate taxes.

  • May 6, 2013

    Lauryn Hill Gets 3 Months For Ducking $1M In Taxes

    A New Jersey federal judge on Monday sentenced Grammy-winning R&B singer Lauryn Hill to three months in prison for failing to file tax returns and report more than $2.3 million in income, rejecting the prosecution's call for a longer jail term.

  • May 6, 2013

    Mayer Brown Adds Vinson & Elkins Tax Pro In Houston

    Mayer Brown LLP has landed a prominent tax partner from Vinson & Elkins LLP who specializes in energy-related transactions and mergers and acquisitions to join its Houston office, the firm announced Monday.

  • May 3, 2013

    Miami Stadium Bill Dies With Legislative Session's End

    The Florida House of Representatives put up a goal-line stand against the Miami Dolphins' quest for public funding to help pay for a $350 million modernization of Sun Life Stadium, letting critical legislation die without a vote as the state legislature's session ended Friday.

  • May 3, 2013

    Expedia Seeks Retrial After $55M Hotel Tax Judgment

    Expedia Inc., Hotels.com LP and nine others told a Texas federal judge Thursday that a $55 million class action judgment for underpaid hotel occupancy taxes was based on faulty evidence and an incorrect interpretation of the law, and asked for a new trial.

  • May 3, 2013

    IRS Closes Loophole On ACA's Employer Mandate

    The Internal Revenue Service on Friday plugged a loophole that could have let companies skirt the health reform mandate that large employers provide affordable medical benefits, saying businesses that force employees to enroll in excessively expensive plans would be fined as if they hadn't offered coverage at all.

  • May 2, 2013

    Fla. Senate Passes $880M Everglades Restoration Bill

    The Florida Senate voted unanimously Thursday in support of a bill to fund a revised $880 million final phase of work as part of a new plan for restoration of the Everglades utilizing various water treatment strategies.

  • May 2, 2013

    Wellness Programs Won't Help Cos. Avoid ACA Penalties: IRS

    The Internal Revenue Service on Friday is scheduled to announce that most employee wellness programs won’t count toward a health insurance policy’s minimum value that large companies must provide to avoid Affordable Care Act penalties, a blow to businesses that are increasingly incentivizing workers to improve their health.

  • May 2, 2013

    Fla. House Passes Bill To Incentivize Natural Gas Vehicles

    Florida’s Legislature on Thursday passed a bill implementing a new tax structure for natural gas fuels and incentives for the purchase and use of natural gas-fueled vehicles, a move the state’s lawmakers have claimed will bring both economic and environmental benefits.

  • May 2, 2013

    IRS Accused Of Overreach On ACA Exchange Subsidies

    A group of small business owners and individuals on Thursday sued the Internal Revenue Service in Washington federal court, alleging it had unlawfully exposed them to potential penalties through a rule expanding Affordable Care Act insurance subsidies to states that don’t run their own insurance exchanges.

  • May 1, 2013

    H&R Block Hit With Suit Over Tax Refund Delays

    H&R Block Inc. was slapped with a proposed class action in California federal court Wednesday by users of the tax preparation service claiming that errors in the firm’s software led to errors in certain 2012 tax return forms and consequent delays of longer than a month in obtaining tax refunds.

  • May 1, 2013

    Convicted Tax Atty Shreds Klein Doctrine In High Court Bid

    A former Ernst & Young LLP attorney appealed his tax fraud conviction to the U.S. Supreme Court last week, saying the widely used Klein conspiracy doctrine uses an overly broad definition of the term "defraud" and is untenable post-Skilling.

  • May 1, 2013

    Fannie, Freddie Exempt From Md. Transfer Taxes, Judge Says

    A Maryland federal judge on Tuesday threw out a putative class action launched by Montgomery County, Md., that alleged Fannie Mae and Freddie Mac failed to pay real estate transfer taxes, saying the two are exempt from such state and local taxes.

  • April 30, 2013

    Proskauer Can't Get Jeffer Mangels Docs In Tax Shelter Row

    Proskauer Rose LLP failed Tuesday to persuade a California appeals court to order a billionaire investor — who brought a $20 million malpractice suit against Proskauer over tax shelter advice — to produce certain confidential communications he had with Jeffer Mangels Butler & Mitchell LLP.

  • April 30, 2013

    Ruling Shows Limits To NY's Power Over Distant Assets

    New York's high court held Tuesday that state law doesn't require a Canadian bank to hand over $118 million allegedly held by its Caribbean subsidiary to a U.S. commonwealth to settle a former resident's tax bill, a ruling experts said shows a desire to limit the power of Empire State judges over assets not directly subject to state jurisdiction.

  • April 30, 2013

    Oxbow Owner Koch Can't Shake Former Exec's Captivity Suit

    A California federal judge refused Tuesday to dismiss most claims brought by a former Oxbow Carbon & Minerals Inc. executive accusing the company's billionaire owner William Koch of holding him captive after he questioned the legality of an alleged tax evasion plan.

  • April 30, 2013

    Fannie, Freddie Exempt From NJ Transfer Taxes, Judge Rules

    A New Jersey federal judge on Tuesday dismissed a putative class action launched by Cape May County, N.J., alleging that Fannie Mae and Freddie Mac failed to pay transfer taxes on foreclosures in multiple states, agreeing that federal law exempts the mortgage giants from all taxation.