Mississippi Will Phase Down Income Tax, Boost Gas Tax
Mississippi will phase down its flat individual income tax rate every year until reaching 3% in 2030 and eliminate the tax in the future depending on surplus revenues under a bill the governor signed Thursday.
Pfizer Tops Pharma Tax Avoidance, Senate Dems Say
Pharmaceutical giant Pfizer had no taxable profits in its largest market, the U.S., after booking all its income in jurisdictions including Puerto Rico, Singapore and Ireland, according to a Senate Finance Committee report prepared by panel Democrats that was released Thursday.
UK Industry Groups Raise Alarm Over US Tariff Threat
The Labour government must secure a trade deal with the U.S. government soon to prevent new tariffs hitting the British car industry in early April, industry groups warned Thursday.
Mississippi Will Phase Down Income Tax, Boost Gas Tax
Mississippi will phase down its flat individual income tax rate every year until reaching 3% in 2030 and eliminate the tax in the future depending on surplus revenues under a bill the governor signed Thursday.
Pfizer Tops Pharma Tax Avoidance, Senate Dems Say
Pharmaceutical giant Pfizer had no taxable profits in its largest market, the U.S., after booking all its income in jurisdictions including Puerto Rico, Singapore and Ireland, according to a Senate Finance Committee report prepared by panel Democrats that was released Thursday.
UK Industry Groups Raise Alarm Over US Tariff Threat
The Labour government must secure a trade deal with the U.S. government soon to prevent new tariffs hitting the British car industry in early April, industry groups warned Thursday.
Federal More
A Los Angeles investor lost a bid in California federal court Thursday to recoup more than $500,000 in damages that, he said, stemmed from the IRS' unlawful seizure of his assets to pay off a $7.2 million late-filing penalty.
A former tax and real estate attorney ran a nationwide scheme that helped his customers avoid paying taxes on as much as $840 million in capital gains, the federal government told an Idaho federal court Thursday.
A payroll provider for a maintenance company never passed along interest payments from the Internal Revenue Service related to its clients' pandemic-era relief claims, the company alleged in a proposed class a... (more story)
A split Ninth Circuit panel has refused to block an injunction compelling the Trump administration to reinstate about 16,000 probationary employees to six federal agencies, saying the administration will likel... (more story)
U.S. Supreme Court Justice Sonia Sotomayor cautioned her colleagues during oral arguments Wednesday against using a challenge to the Federal Communications Commission's administration of a broadband subsidy pr... (more story)
The Senate passed legislation Wednesday that would repeal a final U.S. Treasury Department rule implementing additional reporting requirements for decentralized finance brokers such as cryptocurrency platforms... (more story)
The Trump administration responded to an injunction compelling it to rehire over 15,000 fired probationary employees by placing them on leave, not bringing them back to work, a coalition of advocates for the w... (more story)
State & Local More
Colo. Picked For Sundance As Tax Break Advances
The Sundance Film Festival will relocate to Boulder, Colorado, its organizers announced Thursday, as a bill with a tax break to attract the event advanced to the full state Senate.
Mich Justices Restore Toss Of Packaging Co.'s Tax Appeal
A Michigan packaging company's tax exemption appeal was properly dismissed by the state Tax Tribunal over a lack of jurisdiction, the Michigan Supreme Court ruled, overturning an appellate court decision.
Duke Energy Wins $20M In SC Investment Credits On Appeal
Duke Energy can have about $20 million in tax credits that were disallowed by South Carolina's tax agency because the law governing the credits grants a $5 million annual limit, not a $5 million lifetime limit... (more story)
Neb. Bill Amendment Seeks Tax Break For Defense Companies
Nebraska would create a withholding tax credit for defense industry contractors in a bid to attract new companies and their workers under a proposed bill amendment floated during the unicameral Legislature's R... (more story)
Adapting To Private Practice: From Fed. Prosecutor To BigLaw
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredib... (more story)
NBC Had Nexus With Oregon, State Tax Court Affirms
NBCUniversal had substantial nexus with Oregon in tax years 2006 to 2010 through its contracts with seven affiliate stations and is liable for state corporate income tax, the state tax court ruled, rejecting a... (more story)
Medical Pot Center Not Exempt From 2017 Michigan Sales Tax
A Michigan appeals panel has rejected a medical cannabis provisioning center's argument that it was exempt from sales tax in 2017, saying it is not entitled to the same exemption as primary caregivers and coul... (more story)
Youngkin Backs Off More Car Tax Relief, Taxes On Tips
Virginia Gov. Glenn Youngkin has abandoned proposals to credit some residents for car tax payments and eliminate taxes on tips after the Democratic-controlled General Assembly made it clear it would not pass t... (more story)
NJ Says NYC Congestion Pricing Fight Ripe For Decision
The Garden State's legal battle to dismantle New York's congestion pricing program can still advance even while the Metropolitan Transportation Authority fights the federal government's withdrawal of approval ... (more story)
The Sundance Film Festival will relocate to Boulder, Colorado, its organizers announced Thursday, as a bill with a tax break to attract the event advanced to the full state Senate.
A Michigan packaging company's tax exemption appeal was properly dismissed by the state Tax Tribunal over a lack of jurisdiction, the Michigan Supreme Court ruled, overturning an appellate court decision.
Duke Energy can have about $20 million in tax credits that were disallowed by South Carolina's tax agency because the law governing the credits grants a $5 million annual limit, not a $5 million lifetime limit... (more story)
Nebraska would create a withholding tax credit for defense industry contractors in a bid to attract new companies and their workers under a proposed bill amendment floated during the unicameral Legislature's R... (more story)
Making the jump from government to private practice is no small feat, but, based on my experience transitioning to a business-driven environment after 15 years as an assistant U.S. attorney, it can be incredib... (more story)
NBCUniversal had substantial nexus with Oregon in tax years 2006 to 2010 through its contracts with seven affiliate stations and is liable for state corporate income tax, the state tax court ruled, rejecting a... (more story)
A Michigan appeals panel has rejected a medical cannabis provisioning center's argument that it was exempt from sales tax in 2017, saying it is not entitled to the same exemption as primary caregivers and coul... (more story)
Virginia Gov. Glenn Youngkin has abandoned proposals to credit some residents for car tax payments and eliminate taxes on tips after the Democratic-controlled General Assembly made it clear it would not pass t... (more story)
The Garden State's legal battle to dismantle New York's congestion pricing program can still advance even while the Metropolitan Transportation Authority fights the federal government's withdrawal of approval ... (more story)
International More
Gov't Urged To Review State Pension Ahead Of Tax 'Cliff Edge'
The U.K. government must reform the state pension or face a "bizarre tax cliff edge" where benefits exceed personal allowance thresholds, experts warned.
Ex-UBS North America CEO's $4.9M FBAR Deal Gets OK
The former North American CEO for Swiss bank UBS will pay a $4.9 million judgment under a deal approved by a Connecticut federal court Wednesday that resolves the U.S. government's suit alleging he willfully n... (more story)
Australian Budget Includes $11B In Personal Income Tax Cuts
The Australian Labor Party government released plans to further cut personal income taxes by 17.1 billion Australian dollars ($11 billion) over the next five years as part of cost-of-living relief provisions u... (more story)
Carlton Fields Adds Former Tax Law Professor In Atlanta
Carlton Fields has brought on a former tenured professor at Georgia State University College of Law to its team in Atlanta, strengthening its tax and business transactions practices with an attorney experience... (more story)
McDermott Hires Skadden Partner To Lead London Tax Office
McDermott Will & Emery LLP announced Monday that it has chosen a former Skadden Arps Slate Meagher & Flom LLP partner to serve as the new leader of the firm's U.K. tax office in London.
Burden Of Proof Is IRS' For $2.3M Bill, Kyocera Tells Tax Court
The Internal Revenue Service should bear the burden of proof in making adjustments to an amended return filed by electronics-maker Kyocera, the company argued as it urged the U.S. Tax Court to review an IRS no... (more story)
Caribbean Bank, CEO Accused Of Helping In £415M VAT Fraud
A Caribbean bank and its former CEO "knowingly" assisted in the commission of a £415 million ($536 million) value-added tax fraud, the creditors of a company allegedly linked to the scam said on the first day ... (more story)
The U.K. government must reform the state pension or face a "bizarre tax cliff edge" where benefits exceed personal allowance thresholds, experts warned.
The former North American CEO for Swiss bank UBS will pay a $4.9 million judgment under a deal approved by a Connecticut federal court Wednesday that resolves the U.S. government's suit alleging he willfully n... (more story)
The Australian Labor Party government released plans to further cut personal income taxes by 17.1 billion Australian dollars ($11 billion) over the next five years as part of cost-of-living relief provisions u... (more story)
Carlton Fields has brought on a former tenured professor at Georgia State University College of Law to its team in Atlanta, strengthening its tax and business transactions practices with an attorney experience... (more story)
McDermott Will & Emery LLP announced Monday that it has chosen a former Skadden Arps Slate Meagher & Flom LLP partner to serve as the new leader of the firm's U.K. tax office in London.
The Internal Revenue Service should bear the burden of proof in making adjustments to an amended return filed by electronics-maker Kyocera, the company argued as it urged the U.S. Tax Court to review an IRS no... (more story)
A Caribbean bank and its former CEO "knowingly" assisted in the commission of a £415 million ($536 million) value-added tax fraud, the creditors of a company allegedly linked to the scam said on the first day ... (more story)