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Revenue Steady, But States Brace For More Spending
Many states are ending the fiscal year on stable ground when it comes to tax revenue collection, experts said, but the pressure to spend more on social programs after federal cuts presents a long-term challenge for state lawmakers.
Claims Court Nixes GILTI Tax Rules Under Loper Bright
The U.S. Court of Federal Claims invalidated corporate tax regulations that deny amortization deductions tied to certain overseas intangible asset transfers, holding that the rules are the kind of "agency overreach" foreclosed by the U.S. Supreme Court's Loper Bright ruling.
UK Tax Policy To Watch In 2nd Half Of 2026
The U.K. government faces a change of leadership in the second half of the year, opening up the possibility of new tax policy at a time when digital and energy taxation are key issues. Here, Law360 looks at important U.K. tax policy developments to watch during the rest of 2026.
Revenue Steady, But States Brace For More Spending
Many states are ending the fiscal year on stable ground when it comes to tax revenue collection, experts said, but the pressure to spend more on social programs after federal cuts presents a long-term challenge for state lawmakers.
Claims Court Nixes GILTI Tax Rules Under Loper Bright
The U.S. Court of Federal Claims invalidated corporate tax regulations that deny amortization deductions tied to certain overseas intangible asset transfers, holding that the rules are the kind of "agency overreach" foreclosed by the U.S. Supreme Court's Loper Bright ruling.
UK Tax Policy To Watch In 2nd Half Of 2026
The U.K. government faces a change of leadership in the second half of the year, opening up the possibility of new tax policy at a time when digital and energy taxation are key issues. Here, Law360 looks at important U.K. tax policy developments to watch during the rest of 2026.
Federal More
Foley & Lardner LLP has strengthened its corporate bench with a Dallas-based partner who came aboard from Kirkland & Ellis LLP and a Boston-based partner from Goodwin Procter LLP.
A California federal judge on Tuesday sentenced two former executives of a telehealth company who were convicted of operating a $100 million scheme to illegally distribute Adderall over the internet, fining th... (more story)
A D.C. Circuit panel refused on Tuesday to reverse a lower court's judgments against two men in connection to a bribery scheme carried out to evade $2.3 million in business tax obligations, finding a jury inst... (more story)
Three senior Democratic senators are investigating whether several companies with ties to President Donald Trump are benefiting from what they alleged was immunity for him, his family and his businesses in the... (more story)
Exxon asked a Texas federal court to rule that it's owed a $273 million tax refund and $51 million in penalties in a dispute with the U.S. government over the tax treatment of a natural gas deal with Qatar.
The IRS timely issued a notice of adjustment to a partnership claiming a $34 million easement deduction for its donation to a Cleveland historic preservation group, the agency told the U.S. Tax Court, arguing ... (more story)
A political consultant convicted of knowingly failing to register as a foreign agent as she helped draft a $50 million contract involving a former congressman and Venezuela's state-owned oil enterprise continu... (more story)
State & Local More
NC Will Tax Prediction Markets, Nix Break For Data Centers
North Carolina will become the latest state to tax prediction markets, in addition to increasing taxes on sports betting and rolling back a tax break for data centers, under a budget signed by its governor.
Simpson Thacher Adds Energy Tax Partner From Weil In NY
Simpson Thacher & Bartlett LLP announced Tuesday that a former Weil Gotshal & Manges LLP partner has joined the firm's New York office to advise clients on the U.S. tax aspects of energy and infrastructure transactions.
After Tense Terms, Hints Of High Court Harmony With Circuits
Following several U.S. Supreme Court terms teeming with reversals and rebukes of lower appeals courts, the justices this term found fault less often with rulings by circuit judges, who are likely becoming bett... (more story)
The Funniest Moments Of The Supreme Court's Term
When one of the U.S. Supreme Court's most talkative members suddenly struggled to speak, the atmosphere at oral arguments grew increasingly anxious — until the justice deadpanned that it was an advocate's gold... (more story)
The Firms That Won Big At The Supreme Court
This U.S. Supreme Court term featured high-stakes oral arguments on issues including presidential power, immigration and voting regulations. Here's a look at the law firms that argued the most cases and how they fared.
Breaking Down The Vote: The High Court Term In Review
The U.S. Supreme Court's stark ideological divisions were on full display this term, particularly as it issued long-awaited rulings in the last few days of June. Here, Law360 dives into the numbers behind this court term.
NY Professor Loses Appeal Over Pandemic Remote Work Tax
A tax professor who taught at a New York university but lived in Connecticut was taxed legally by New York on days he worked at home while the school was closed during the coronavirus pandemic, a New York appe... (more story)
North Carolina will become the latest state to tax prediction markets, in addition to increasing taxes on sports betting and rolling back a tax break for data centers, under a budget signed by its governor.
Simpson Thacher & Bartlett LLP announced Tuesday that a former Weil Gotshal & Manges LLP partner has joined the firm's New York office to advise clients on the U.S. tax aspects of energy and infrastructure transactions.
Following several U.S. Supreme Court terms teeming with reversals and rebukes of lower appeals courts, the justices this term found fault less often with rulings by circuit judges, who are likely becoming bett... (more story)
When one of the U.S. Supreme Court's most talkative members suddenly struggled to speak, the atmosphere at oral arguments grew increasingly anxious — until the justice deadpanned that it was an advocate's gold... (more story)
This U.S. Supreme Court term featured high-stakes oral arguments on issues including presidential power, immigration and voting regulations. Here's a look at the law firms that argued the most cases and how they fared.
The U.S. Supreme Court's stark ideological divisions were on full display this term, particularly as it issued long-awaited rulings in the last few days of June. Here, Law360 dives into the numbers behind this court term.
A tax professor who taught at a New York university but lived in Connecticut was taxed legally by New York on days he worked at home while the school was closed during the coronavirus pandemic, a New York appe... (more story)
International More
EU Warns Belgium, Bulgaria, Cyprus Over Pillar 2 Delay
The European Union has called on Belgium, Bulgaria and Cyprus to fully adopt information exchange rules that underpin the global minimum tax framework known as Pillar Two.
EU Lawmakers Seek To End VAT Break For Financial Services
The European Parliament moved toward ending financial services' blanket exemption from value-added taxes by voting Tuesday to adopt a report recommending such a shift.
Dental Aligners Not VAT-Exempt, Upper Tribunal Says
Dental aligners are not exempt from value-added tax under a provision aimed at dental prostheses, the Upper Tribunal ruled Tuesday, reversing a decision by a lower tribunal.
European Parliament Panel Rejects Carbon Tax Exemption
The Parliamentary committee responsible for changes to the European Union's carbon tax removed a proposed waiver that would exempt certain goods from the levy during periods of market turmoil.
HMRC Admits New State Pension Tax Errors Over 4 Years
The government has said it accidentally overtaxed millions of Britons for their state pension income over four years, but that the tax ministry is working to ensure the error will not be repeated.
Appeals Court Allows VAT Exemption For Education Services
A London appeals court ruled in favor of three alternative education providers appealing HMRC's denial of a value-added tax exemption for their services, saying Monday that lower tribunals used the wrong test ... (more story)
Stakeholders Push For Expanded Brazil Tariff Exemptions
Industry associations urged the U.S. Trade Representative's Office to expand tariff exemptions for the 25% duty anticipated on Brazilian goods as a result of its alleged unfair trading practices, according to ... (more story)
The European Union has called on Belgium, Bulgaria and Cyprus to fully adopt information exchange rules that underpin the global minimum tax framework known as Pillar Two.
The European Parliament moved toward ending financial services' blanket exemption from value-added taxes by voting Tuesday to adopt a report recommending such a shift.
Dental aligners are not exempt from value-added tax under a provision aimed at dental prostheses, the Upper Tribunal ruled Tuesday, reversing a decision by a lower tribunal.
The Parliamentary committee responsible for changes to the European Union's carbon tax removed a proposed waiver that would exempt certain goods from the levy during periods of market turmoil.
The government has said it accidentally overtaxed millions of Britons for their state pension income over four years, but that the tax ministry is working to ensure the error will not be repeated.
A London appeals court ruled in favor of three alternative education providers appealing HMRC's denial of a value-added tax exemption for their services, saying Monday that lower tribunals used the wrong test ... (more story)
Industry associations urged the U.S. Trade Representative's Office to expand tariff exemptions for the 25% duty anticipated on Brazilian goods as a result of its alleged unfair trading practices, according to ... (more story)