Md. Tech Groups Praise Cybersecurity Tax Credit Plan
Expanding eligibility for Maryland's cybersecurity tax credit would help more customers use tools from companies in the state to protect their data and information systems, industry representatives and the state's Commerce Department director told legislators Thursday.
What Makes A Good Tax Court Expert? Economists Share Tips
It's not easy being an expert witness in a U.S. Tax Court case. Lawyers ask leading questions and bring up old research; hypothetical scenarios abound, requiring analysis on the fly; and judges have varying levels of expertise, with some seeking detailed explanation and others offended by it.
Tax Court Rejects Aventis' Securitizing Debt Assets
Pharmaceutical giant Aventis Inc. is ineligible for a favorable tax treatment on its securitization of financial assets, the U.S. Tax Court ruled Wednesday, finding the company did not comply with statutory requirements and failed to show it was not the beneficial owner of the assets.
Md. Tech Groups Praise Cybersecurity Tax Credit Plan
Expanding eligibility for Maryland's cybersecurity tax credit would help more customers use tools from companies in the state to protect their data and information systems, industry representatives and the state's Commerce Department director told legislators Thursday.
What Makes A Good Tax Court Expert? Economists Share Tips
It's not easy being an expert witness in a U.S. Tax Court case. Lawyers ask leading questions and bring up old research; hypothetical scenarios abound, requiring analysis on the fly; and judges have varying levels of expertise, with some seeking detailed explanation and others offended by it.
Tax Court Rejects Aventis' Securitizing Debt Assets
Pharmaceutical giant Aventis Inc. is ineligible for a favorable tax treatment on its securitization of financial assets, the U.S. Tax Court ruled Wednesday, finding the company did not comply with statutory requirements and failed to show it was not the beneficial owner of the assets.
Federal More
A former prominent Boston activist was spared from a prison term by a Massachusetts federal judge Thursday at her sentencing for misusing thousands of dollars in donor funds for personal expenses and fraudulen... (more story)
The Eighth Circuit's ruling that Brazilian law prevented the IRS from reallocating income to 3M from its subsidiary in that country "makes no sense" because the law limits only royalties, not other forms of in... (more story)
As the attorney general takes steps to move cannabis from Schedule I to Schedule III of the Controlled Substances Act, operators and advisers should prepare by considering the significant changes this will bri... (more story)
The CEO and minority owner of Charlotte's minor league hockey team is facing tax fraud charges after federal prosecutors in North Carolina said he failed to report more than $4.5 million in income from his cha... (more story)
Semiconductor manufacturer Microsemi has agreed to report $144 million in income from sales to its Irish affiliate but will avoid some tax penalties under the terms of a transfer pricing settlement with the In... (more story)
A coalition of unions, nonprofit organizations and local governments that are challenging the Trump administration's federal worker layoffs and agency reorganizations asked a California federal judge Tuesday f... (more story)
"Spider-Man" star Tobey Maguire told the jury Wednesday in Thomas Goldstein's tax fraud trial that he paid $500,000 for his legal services to another poker player the former SCOTUSblog founder owed money to, r... (more story)
State & Local More
MTC Group Unveils Draft For Partnership Tax Sourcing
The Multistate Tax Commission group working on state taxation of partnerships released a first draft Thursday of a model statute for sourcing partnership income that states could eventually copy.
Mo. Biz Groups Seek Exemptions In Income, Sales Tax Plan
Missouri business representatives voiced concern Wednesday that a proposed constitutional amendment to phase out the personal income tax in exchange for a broader sales tax base doesn't include any exemptions ... (more story)
Cantor Fitzgerald Loses $7.8M NY Tax Case Over Subsidiaries
Cantor Fitzgerald owes $7.77 million in New York City unincorporated business tax revenue because the company incorrectly aggregated the business activities of non-city subsidiaries that brought down its tax b... (more story)
Judges On AI: How Judicial Use Informs Guardrails
U.S. Magistrate Judge Maritza Dominguez Braswell at the U.S. District Court for the District of Colorado discusses why having a sense of how generative AI tools behave, where they add value, where they introdu... (more story)
Tax Group Of The Year: Skadden
Skadden Arps Slate Meagher & Flom LLP's tax practice guided several major cases and deals this past year, including representing drugmaker Amgen Inc. in one of the largest transfer pricing cases litigated last... (more story)
Law360 Seeks Members For Its 2026 Editorial Boards
Law360 is looking for avid readers of our publications to serve as members of our 2026 editorial advisory boards.
Wis. Homeowners Challenge Tribal Tax Ruling At 7th Circ.
A group of Wisconsin homeowners is asking the Seventh Circuit to revive its claims that local political jurisdictions of the Menominee Indian Tribe joined forces to increase the homeowners' tax burden, arguing... (more story)
The Multistate Tax Commission group working on state taxation of partnerships released a first draft Thursday of a model statute for sourcing partnership income that states could eventually copy.
Missouri business representatives voiced concern Wednesday that a proposed constitutional amendment to phase out the personal income tax in exchange for a broader sales tax base doesn't include any exemptions ... (more story)
Cantor Fitzgerald owes $7.77 million in New York City unincorporated business tax revenue because the company incorrectly aggregated the business activities of non-city subsidiaries that brought down its tax b... (more story)
U.S. Magistrate Judge Maritza Dominguez Braswell at the U.S. District Court for the District of Colorado discusses why having a sense of how generative AI tools behave, where they add value, where they introdu... (more story)
Skadden Arps Slate Meagher & Flom LLP's tax practice guided several major cases and deals this past year, including representing drugmaker Amgen Inc. in one of the largest transfer pricing cases litigated last... (more story)
Law360 is looking for avid readers of our publications to serve as members of our 2026 editorial advisory boards.
A group of Wisconsin homeowners is asking the Seventh Circuit to revive its claims that local political jurisdictions of the Menominee Indian Tribe joined forces to increase the homeowners' tax burden, arguing... (more story)
International More
Imported Scooters Not Duty-Free, UK Court Says In Reversal
Mobility scooters imported into the U.K. by two companies should be assessed a 10% duty, a London court ruled, reversing a lower court decision it said labeled the scooters duty-free due to a misapplication of relevant rules.
Fund Managers Should Be Taxed As Workers, HMRC Testifies
Portfolio managers at BlueCrest Capital Management should be taxed as disguised employees because they don't hold wider legal responsibilities at the hedge fund, Britain's tax authority told the U.K. Supreme C... (more story)
SocGen Loses Case Against French Electric Grid Fees
A European Union court upheld fees that French companies must pay to access the country's electric grid, ruling against banking giant Société Générale in holding that the payments don't amount to indirect exci... (more story)
Fund Managers Should Be Taxed As Partners, UK Court Told
Portfolio managers at a hedge fund should be taxed as partners, not disguised employees, because they have significant influence at the partnership, a hedge fund told the U.K. Supreme Court on Wednesday.
Gov't Escapes Bad Faith Sanctions In FBAR Dispute
A New York federal judge declined Wednesday to sanction the U.S. government in its suit against the estate of a businessman over undisclosed offshore bank accounts, holding that his widow failed to show the go... (more story)
Korean Lawmakers Duel Over Trump Tariff Threat Response
President Donald Trump's threat of a tariff hike on South Korea for "not living up to" its trade deal with the U.S. had South Korea's two major parties warring Tuesday over the pact's approval process.
Perrigo Overpaid Tax, Penalties By $89M, Court Finds
Pharmaceutical giant Perrigo overpaid $89.2 million in taxes, penalties and interest during years 2009 through 2012, a Michigan court found in a final judgment issued Tuesday.
Mobility scooters imported into the U.K. by two companies should be assessed a 10% duty, a London court ruled, reversing a lower court decision it said labeled the scooters duty-free due to a misapplication of relevant rules.
Portfolio managers at BlueCrest Capital Management should be taxed as disguised employees because they don't hold wider legal responsibilities at the hedge fund, Britain's tax authority told the U.K. Supreme C... (more story)
A European Union court upheld fees that French companies must pay to access the country's electric grid, ruling against banking giant Société Générale in holding that the payments don't amount to indirect exci... (more story)
Portfolio managers at a hedge fund should be taxed as partners, not disguised employees, because they have significant influence at the partnership, a hedge fund told the U.K. Supreme Court on Wednesday.
A New York federal judge declined Wednesday to sanction the U.S. government in its suit against the estate of a businessman over undisclosed offshore bank accounts, holding that his widow failed to show the go... (more story)
President Donald Trump's threat of a tariff hike on South Korea for "not living up to" its trade deal with the U.S. had South Korea's two major parties warring Tuesday over the pact's approval process.
Pharmaceutical giant Perrigo overpaid $89.2 million in taxes, penalties and interest during years 2009 through 2012, a Michigan court found in a final judgment issued Tuesday.