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Calif. Can't Undo Smithfield's $900K Refund, Judge Says
Smithfield Foods is not required to use California's typical method of single-sales-factor apportionment and is entitled to a refund of more than $900,000 in corporate income tax from the state, a California trial judge affirmed.
Pa. Digital Ad Tax Would Close Budget Gaps, Committee Told
Pennsylvania would collect millions in revenue by extending its gross receipts tax to companies that provide digital advertising in the state, the sponsor of a digital ad tax bill told the state's House Finance Committee on Wednesday.
Customs Says First Tariff Refunds Will Be Issued In May
Customs and Border Protection expects the first refunds for tariffs paid under the global regime struck down by the U.S. Supreme Court to be issued May 11, according to an order published at the U.S. Court of International Trade.
Federal More
An important 2016 study revealed significant substance abuse and mental health issues among lawyers, and while the findings helped normalize the conversation around these topics, a decade later, structural ch... (more story)
President Donald Trump's proclamation establishing tariffs on certain pharmaceutical products holds a few areas of ambiguity that companies should review and prepare for before the tariffs come into effect lat... (more story)
A Fort Worth manufacturer already received employee retention tax credits for the first three quarters of 2021, rendering moot its challenge to claw back a refund amount, the IRS told a Texas federal court.
Former U.S. Rep. David Rivera's public opposition to the regime of former Venezuelan President Nicolás Maduro was just a "facade" as he secretly worked on behalf of the government under a $50 million contract ... (more story)
Importers have successfully submitted more than 11.2 million entries to Customs and Border Protection's tariff refund system, and more than 1.7 million imports have been validated and are ready for refunds, a ... (more story)
The U.S. government urged a Florida federal court to uphold a nearly $20 million tax judgment against a dual U.S.-German citizen for undisclosed foreign bank account information, arguing he "slept on his right... (more story)
A New Jersey man convicted of making $40 million from filing false tax returns in a countrywide securities scheme asked the Third Circuit to reconsider affirming his conviction, citing what he described as a c... (more story)
State & Local More
Calif. Billionaire Tax Backers Say They Have 1.6M Signatures
Supporters of a referendum that calls for a 5% tax to be levied once on the wealth of California billionaires said they are closer to getting their measure on the November ballot as they are ready to turn in n... (more story)
Attys, Advocates Call DOJ Pot Rule Historic Shift For Feds
Legal strategies are evolving quickly in the wake of last week's "historic" rescheduling of state-legal medical cannabis, as a group of attorneys and advocates gathered Monday to evaluate the trade-offs of dis... (more story)
Taxation With Representation: Gibson Dunn, Paul Weiss
In this week's Taxation With Representation, Elon Musk's SpaceX strikes a deal with Cursor that could lead to an acquisition of the artificial intelligence startup, building products distributor QXO Inc. buys ... (more story)
Barnes & Thornburg Lands 6 Bradley Arant Attys In Southeast
Barnes & Thornburg LLP announced Thursday that the firm has hired six attorneys from Bradley Arant Boult Cummings LLP for its Atlanta and Palm Beach Gardens, Florida, offices, increasing its capabilities in th... (more story)
Ill. House Passes Bill Aiming To Keep Chicago Bears In-State
The Illinois General Assembly has approved a bill amended to provide more tax incentives for the site of a proposed stadium for the Chicago Bears, who are also considering a stadium offer from neighboring Indiana.
Mich. High Court Fast-Tracks Appeal Over 24% Cannabis Tax
The Michigan Supreme Court has ordered the state's intermediate appeals court to accelerate a closely watched constitutional challenge to the state's 24% cannabis tax that went into effect earlier this year, h... (more story)
Minn. Business Groups Denounce Sales Tax Expansion
Minnesota Gov. Tim Walz's proposal to expand the state's sales tax base to include more services and a social media tax plan would increase costs in the state, several business groups said during a hearing Thursday.
Supporters of a referendum that calls for a 5% tax to be levied once on the wealth of California billionaires said they are closer to getting their measure on the November ballot as they are ready to turn in n... (more story)
Legal strategies are evolving quickly in the wake of last week's "historic" rescheduling of state-legal medical cannabis, as a group of attorneys and advocates gathered Monday to evaluate the trade-offs of dis... (more story)
In this week's Taxation With Representation, Elon Musk's SpaceX strikes a deal with Cursor that could lead to an acquisition of the artificial intelligence startup, building products distributor QXO Inc. buys ... (more story)
Barnes & Thornburg LLP announced Thursday that the firm has hired six attorneys from Bradley Arant Boult Cummings LLP for its Atlanta and Palm Beach Gardens, Florida, offices, increasing its capabilities in th... (more story)
The Illinois General Assembly has approved a bill amended to provide more tax incentives for the site of a proposed stadium for the Chicago Bears, who are also considering a stadium offer from neighboring Indiana.
The Michigan Supreme Court has ordered the state's intermediate appeals court to accelerate a closely watched constitutional challenge to the state's 24% cannabis tax that went into effect earlier this year, h... (more story)
Minnesota Gov. Tim Walz's proposal to expand the state's sales tax base to include more services and a social media tax plan would increase costs in the state, several business groups said during a hearing Thursday.
International More
More UK Businesses Face Crisis Over Taxes, War, Report Says
The number of U.K. businesses near collapse increased by almost 37% with rising taxes ahead of the economic fallout of the Iran war, an insolvency firm warned in a report Wednesday.
Korean Court Cancels $46.6M Of Netflix's Tax Bill, Report Says
Netflix on Tuesday secured the cancellation of 68.7 billion won ($46.6 million) in taxes imposed by the Korean government in a dispute over the characterization of payments to a Dutch subsidiary, in a partial ... (more story)
Budget Tax Raid Fears Spurred Pension Withdrawals
Fears over a tax raid on pensions have led to a surge in Britons cashing out of their long-term savings in the run-up to Budget announcements, a consultancy found Tuesday.
Democratic Sen. Presses Retail Giants On Tariff Refund Plans
The top Democrat on the U.S. Senate small business committee sent letters last week to major retailers and shipping carriers asking whether they planned to pass on to consumers tariff refunds they receive.
Puerto Rican Woman Can't Avoid Filing Taxes, Gov't Says
A Puerto Rican woman to whom the Internal Revenue Service erroneously assigned her employer's tax debt cannot obtain a court order waiving her obligation to file returns, the government told the Puerto Rican f... (more story)
UK Industry Group Calls For Countermeasures To US Tariffs
A U.K. industry group urged the country's government to prepare a "trade bazooka," including a package of countermeasures to safeguard the economy from outside shocks such as U.S. tariffs and the economic fall... (more story)
Pension Overtaxation Bill Still At £44M Despite Reforms
The government was forced to refund £44.1 million ($59.7 million) in overcharged tax on pension income in the first three months of the year, a figure that has remained largely unchanged despite reforms last year.
The number of U.K. businesses near collapse increased by almost 37% with rising taxes ahead of the economic fallout of the Iran war, an insolvency firm warned in a report Wednesday.
Netflix on Tuesday secured the cancellation of 68.7 billion won ($46.6 million) in taxes imposed by the Korean government in a dispute over the characterization of payments to a Dutch subsidiary, in a partial ... (more story)
Fears over a tax raid on pensions have led to a surge in Britons cashing out of their long-term savings in the run-up to Budget announcements, a consultancy found Tuesday.
The top Democrat on the U.S. Senate small business committee sent letters last week to major retailers and shipping carriers asking whether they planned to pass on to consumers tariff refunds they receive.
A Puerto Rican woman to whom the Internal Revenue Service erroneously assigned her employer's tax debt cannot obtain a court order waiving her obligation to file returns, the government told the Puerto Rican f... (more story)
A U.K. industry group urged the country's government to prepare a "trade bazooka," including a package of countermeasures to safeguard the economy from outside shocks such as U.S. tariffs and the economic fall... (more story)
The government was forced to refund £44.1 million ($59.7 million) in overcharged tax on pension income in the first three months of the year, a figure that has remained largely unchanged despite reforms last year.