Tax Court Hears From Eaton's Former Islands Plant Manager
A longtime Eaton Corp. plant manager described for the U.S. Tax Court on Tuesday some of the components and functions of the circuit breakers manufactured in Puerto Rico and the Dominican Republic that the company maintains were so critical to its success.
Fla. Voters Approve Homestead Exemption Increase
Florida voters approved a constitutional amendment Tuesday that will hike the state's homestead exemption and is estimated to reduce property tax revenue by billions of dollars annually.
Calif. LLC Must Report Allocated Income, OTA Says
A California owner of a limited liability company that held an ownership interest in a partnership is required to recognize all the income allocated to it even though the distributions it received are lower than the allocation, the state Office of Tax Appeals said.
Tax Court Hears From Eaton's Former Islands Plant Manager
A longtime Eaton Corp. plant manager described for the U.S. Tax Court on Tuesday some of the components and functions of the circuit breakers manufactured in Puerto Rico and the Dominican Republic that the company maintains were so critical to its success.
Fla. Voters Approve Homestead Exemption Increase
Florida voters approved a constitutional amendment Tuesday that will hike the state's homestead exemption and is estimated to reduce property tax revenue by billions of dollars annually.
Calif. LLC Must Report Allocated Income, OTA Says
A California owner of a limited liability company that held an ownership interest in a partnership is required to recognize all the income allocated to it even though the distributions it received are lower than the allocation, the state Office of Tax Appeals said.
Federal More
The U.S. Tax Court properly dismissed a partnership's bid to challenge the IRS' denial of a $27 million tax deduction for a Georgia conservation easement donation, the agency told the Eleventh Circuit, saying the partnersh...(read more)
Peter Schuur, chair of Debevoise & Plimpton LLP's global tax practice, steered the tax strategy for Warner Bros. Discovery's $110 billion sale to Paramount Skydance, earning him a spot as one of the 2026 Law360 Tax MVPs.
Latham & Watkins LLP has hired a former Morgan Lewis & Bockius LLP partner who spent 16 years with his previous firm working on tax and employee benefits issues.
A Washington federal judge said Monday that an Xbox buyer must arbitrate his claims that Microsoft unjustly pocketed refunds meant for consumers after the U.S. Supreme Court struck down the Trump administration's global ta...(read more)
The skilled manufacturing that took place at Eaton's plants in Puerto Rico and the Dominican Republic from 2011 through 2013 was the critical factor in the success of the company's electrical breaker products business, an ...(read more)
The IRS' nonprofit donor disclosure rule violates organizations' and donors' First Amendment rights, a privacy group told a D.C. federal court, saying the rule is subject to a heightened level of judicial scrutiny that the...(read more)
Michael Cannon, a partner in Gibson Dunn & Crutcher LLP's Dallas office, co-led the tax team advising SpaceX on its pivotal transactions that wrapped up this year, including the largest initial public offering and M&A of a...(read more)
State & Local More
Three incumbent Washington State Supreme Court justices held off challengers in Tuesday's election, and King County Superior Court judges emerged as front-runners for two other open spots on the state high court, according...(read more)
Future proposals to raise Iowa state income taxes will need supermajority approval from lawmakers under a ballot measure passed by voters Tuesday.
The lawyers chosen as Law360's 2026 MVPs stand out from their peers by notching significant achievements in high-stakes litigation, complex global matters and record-setting transactions.
The Colorado Supreme Court Friday affirmed the dismissal of a man's complaint seeking to have an initiative to raise taxes on the state's wealthiest residents removed from the ballot due to some petition entities not regis...(read more)
A hedge fund manager is seeking to recover nearly $40 million in foreign account reporting penalties, telling the U.S. Court of Federal Claims that the IRS violated his due process rights and administrative rules in imposi...(read more)
A challenge to voter-approved local caps on residential property tax hikes in Missouri was struck down by a state circuit court, which found the taxpayers and taxing authorities involved did not have standing to bring the ...(read more)
In close cases where there’s room for discretion, artificial intelligence could challenge judges’ implicit biases by running counterfactual tests at scale — but any judicial use of such tools would need guardrails, say Arn...(read more)
International More
The European Commission decided not to ax a digital services tax proposal in its 2027 work program despite a lack of progress, according to a final version of its agenda for the coming year seen Wednesday by Law360.
The High Court of Australia on Wednesday ruled 6-1 to uphold a ruling that drivers "supply" driving services to rideshare giant Uber, finding the drivers' contracts with the company are relevant contracts under New South W...(read more)
The European Commission plans to withdraw a series of tax initiatives stuck in the legislative pipeline because the bills are not able to secure the support of all member states, according to a draft of its 2027 work progr...(read more)
Multinational companies shouldn't get a free pass on reporting potentially harmful cross-border tax arrangements to European Union countries because they're within the scope of the 15% global minimum tax, an EU lawmaker le...(read more)
A London appeals court struck down HM Revenue & Customs' nearly £3.3 million ($4.4 million) in tax assessments against arcade and bingo hall operators, holding the companies had justifiable grounds for misunderstanding the...(read more)
Member states currently negotiating the European Union's tax simplification proposals should not allow U.S.-headquartered companies operating under the side-by-side agreement of the global minimum tax framework to benefit ...(read more)
A former solicitor and adviser to Bernie Ecclestone, the ex-chief executive of Formula One, pleaded not guilty to tax fraud in London on Tuesday over allegations that he lied to HM Revenue and Customs about his ability to ...(read more)