State & Local
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October 01, 2024
Treasury Plans Final Direct Pay Partnership Regs By Year-End
The U.S. Treasury Department is eyeing the end of the year to finalize regulations for development projects to elect out of their partnership tax status to qualify for a direct cash payment of their clean energy tax credits, an official said Tuesday.
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October 01, 2024
Calif. Allows Income Tax Exclusion For Wildfire Payments
California authorized a personal and corporate income tax exclusion for qualified payments received by property owners through a state financial assistance program intended to help mitigate and protect against losses related to wildfires under a bill signed by Democratic Gov. Gavin Newsom.
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October 01, 2024
DC Raises Fiscal 2024 Revenue Estimate By $73M
The District of Columbia increased its estimated revenue collection for the 2024 fiscal year by about $73 million, according to the district's chief financial officer.
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October 01, 2024
Ohio Senate Bill Aims To Allow Tax Payments In Crypto
Ohio would let taxpayers pay state and local taxes and other government fees with cryptocurrency under a bill introduced in the state Senate.
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October 01, 2024
IRS Delays Tax Deadlines In Ill. After July Storms
Taxpayers in seven Illinois counties will have until Feb. 3 to file individual and business tax returns and make payments after portions of the state were hit by severe storms and tornadoes in July, the Internal Revenue Service said Tuesday.
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September 30, 2024
Calif. Lets Cities Exceed 2% Cap On Transactions And Use Tax
California authorized certain local jurisdictions to impose a transactions and use tax for general or specific purposes that exceeds a 2% statutory cap, under a bill signed by Democratic Gov. Gavin Newsom.
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September 30, 2024
Key State And Local Tax Takeaways From September
From IBM and Disney asking the U.S. Supreme Court to tackle their disputes with New York over the taxation of foreign royalties they received to a Michigan court battle over whether insurance companies should file as a unitary group, September provided a busy start to autumn in the state and local tax world. Here, Law360 presents key developments to know from the past month.
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September 30, 2024
Calif. Requires Disclosure Of Local Tax Rebate Agreements
California will require cities and counties to annually disclose to the state Department of Tax and Fee Administration information regarding agreements that result in the direct or indirect payment, transfer, diversion or rebate of local sales and use tax revenue under a bill signed by Democratic Gov. Gavin Newsom.
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September 30, 2024
Colo. Panel Advances Small Biz Property Tax Break
Colorado would reduce personal property taxes of small businesses with an income tax credit under draft legislation endorsed by an interim panel.
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September 30, 2024
Delaware Revenue Receipts Up By $21M Through Aug.
Delaware's revenue receipts from July through August increased by more than $21 million from the same period last fiscal year, according to the state Department of Finance.
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September 30, 2024
W.Va. Bill Seeks Personal Income Tax Cuts At Gov.'s Request
West Virginia would lower its income tax rates for all brackets under a Senate bill introduced Monday in a special legislative session that was called by Gov. Jim Justice in an attempt to cut taxes.
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September 30, 2024
Paychex Tells NY Court Apportionment Reg Ripe For Ruling
Paychex told a New York state court that its challenge to a state apportionment rule is ready for adjudication, with the employment services provider saying it shouldn't have to wait for the conclusion of an audit to bring its dispute to court.
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September 30, 2024
Ex-Jersey Shore Mayor Admits To Benefits Theft, Tax Crimes
The former mayor of Wildwood, New Jersey, has admitted to unlawfully obtaining state health benefits, failing to disclose his outside employment and neglecting to report income from that job on state tax returns, New Jersey Attorney General Matthew J. Platkin and the Office of Public Integrity and Accountability announced Monday.
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September 30, 2024
Idaho Tax Revenue Through Aug. Up $191K From Forecast
Idaho's general revenue collection from July through August outpaced budget estimates by $191,000, according to a report from the state Division of Financial Management.
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September 30, 2024
Ala. Doctor Can't Claim Rural Physician Credit, Tribunal Says
An Alabama doctor cannot claim the state's rural physician tax credit because the community the doctor worked in didn't qualify, the state tax tribunal ruled.
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September 30, 2024
Mich. General Revenues Through Aug. Down $435M
Michigan's general revenues from October 2023 through August were $435 million below the last fiscal year, according to a monthly report from the state budget office on Monday.
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September 27, 2024
Transfer Pricing Guru On Assisting States, Combined Filing
Ednaldo Silva’s transfer pricing analytics company EdgarStat LLC recently renewed its contract with New Jersey, furthering his decadeslong run of assisting states that aim to curb profit shifting by scrutinizing intercompany transactions. Silva spoke to Law360 about his transfer pricing philosophy and how he envisions combined reporting affecting the field.
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September 27, 2024
Ex-Residents Say Mass. Stretched Law To Tax $4.7M Gain
Massachusetts' taxation of a $4.7 million gain from a stock sale wrongly commingled the business of a former resident taxpayer with that of a company he owned, he and his wife told a state appeals court.
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September 27, 2024
Ex-Mass. State Sen. Says Conviction By All-White Jury Unfair
A former Massachusetts state senator has said his conviction on pandemic unemployment aid and tax fraud charges should be thrown out in part because the jury was all white.
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September 27, 2024
NJ Assembly OKs Assessing Tax Anytime For Fraud Refunds
New Jersey would eliminate a statute of limitations on income tax assessments for erroneous refunds induced by fraud under a bill passed by the state Assembly.
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September 27, 2024
Mich. Bills Seek To Create Aerospace R&D Credits
Michigan would create a research and development tax credit for aerospace and defense businesses, for up to $5 million per taxpayer annually, under bills introduced in the state Senate.
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September 27, 2024
Delta, PacifiCorp Intangibles Taxable, Ore. Tells State Justices
Oregon's tax court was wrong to exempt Delta Air Lines from taxation of its intangible property and was correct to refuse the exemption for energy provider PacifiCorp, the state's tax department told the Oregon Supreme Court.
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September 27, 2024
La. Dept. Says No Tax Due On Casinos' Gifts To Patrons
Louisiana casinos and gambling businesses are not subject to the state's sales and use tax for complimentary items they give to patrons as incentives, the state Department of Revenue said in a notice.
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September 27, 2024
Tenn. Water Treatment Plant's Piping Ruled Tax-Exempt
Tennessee sales and use tax won't apply to contractors' purchases of piping used in the expansion of a municipal water treatment plant, the state Department of Revenue said in a ruling.
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September 27, 2024
Ind. Tax Dept. Says Ky. Truck Driver Wrongly Taxed
A Kentucky truck driver who worked for an Indiana-based company was incorrectly assessed local income tax for the county where the business is located, the Indiana Department of State Revenue said in a letter ruling.
Expert Analysis
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Other Views On Administration And Land Tax: SALT In Review
From another take on ranking the states' tax agencies to the latest proposal on a different approach to land values, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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5 Litigation Funding Trends To Note In 2024
Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.
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4 Legal Ethics Considerations For The New Year
As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.
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What The Law Firm Of The Future Will Look Like
As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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4 PR Pointers When Your Case Is In The News
Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.
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10 Considerations For Litigating A New York Tax Case
While some of New York’s recently adopted corporate tax regulations are likely to face legal challenges, aggrieved taxpayers should answer certain questions before deciding to embark on the tax litigation process, say Cyavash Ahmadi and Jeffrey Friedman at Eversheds Sutherland.
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Revenue Agencies At Their Finest: SALT In Review
From a survey of the nation's best departments of revenue to baseball superstar Shohei Ohtani's creative free-agent contract, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Law Firm Strategies For Successfully Navigating 2024 Trends
Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.
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Attorneys' Busiest Times Can Be Business Opportunities
Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.
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How Attorneys Can Be More Efficient This Holiday Season
Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.
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5 Trends To Watch In Property And Casualty Class Actions
In 2023, class action decisions have altered the landscape for five major types of claims affecting property and casualty insurers — total loss vehicle valuation, labor depreciation, other structural loss estimating theories, total loss vehicle tax and regulatory fees, and New Mexico's uninsured and underinsured motorist coverage sale requirements, say Mark Johnson and Mathew Drocton at BakerHostetler.
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A Bold Idea And A Striking Disregard: SALT In Review
From a far-reaching proposal in Nebraska to a Minnesota government agency's disregard of case law, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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5 Traps To Avoid When Selling CRE In Las Vegas Area
When dealing with commercial real estate in Clark County, Nevada — which includes the Las Vegas metro area — even sophisticated sellers may be ensnared by a myriad of tricky issues, ranging from transfer tax nuances to arbitration laws, says Chris Walther at Fennemore Craig.