One Certainty As Tariff Refunds Start: 'There Will Be Litigation'
The launch of the refund process for tariffs struck down by the U.S. Supreme Court marks the start of lengthy and multifaceted court battles as companies fight with consumers — and amongst themselves — about who gets a slice of the $166 billion pie, experts told Law360.
Judge Probes Limits Of NJ's Internet Activity Tax Rules
A New Jersey Tax Court judge grappled Friday with defining how much internet activity state regulations can account for while still adhering to the income tax protections that P.L. 86-272 affords out-of-state businesses.
Grocers' Microcaptive Tax Breaks Wrongly Axed, 7th Circ. Told
Chicagoland grocery chain owners asked the Seventh Circuit to restore the tax benefits tied to their business' microcaptive insurance, arguing that the U.S. Tax Court's decision to disallow those deductions violated a 1945 federal law authorizing state regulation of insurers.
One Certainty As Tariff Refunds Start: 'There Will Be Litigation'
The launch of the refund process for tariffs struck down by the U.S. Supreme Court marks the start of lengthy and multifaceted court battles as companies fight with consumers — and amongst themselves — about who gets a slice of the $166 billion pie, experts told Law360.
Judge Probes Limits Of NJ's Internet Activity Tax Rules
A New Jersey Tax Court judge grappled Friday with defining how much internet activity state regulations can account for while still adhering to the income tax protections that P.L. 86-272 affords out-of-state businesses.
Grocers' Microcaptive Tax Breaks Wrongly Axed, 7th Circ. Told
Chicagoland grocery chain owners asked the Seventh Circuit to restore the tax benefits tied to their business' microcaptive insurance, arguing that the U.S. Tax Court's decision to disallow those deductions violated a 1945 federal law authorizing state regulation of insurers.
Federal More
Federal prosecutors urged a Florida U.S. district judge Thursday to reject an attempt by politician David Rivera and a political consultant to escape charges for allegedly failing to register as foreign agents... (more story)
The establishment this month of the National Fraud Enforcement Division within the U.S. Department of Justice is a significant reorganization that suggests an increase in enforcement activity involving federal... (more story)
In a potential shift away from Public Company Accounting Oversight Board enforcement, the U.S. Securities and Exchange Commission's formation of a new group to investigate and litigate potential violations of ... (more story)
In this week's Taxation With Representation, Elon Musk's SpaceX strikes a deal with Cursor that could lead to an acquisition of the artificial intelligence startup, building products distributor QXO Inc. buys ... (more story)
Barnes & Thornburg LLP announced Thursday that the firm has hired six attorneys from Bradley Arant Boult Cummings LLP for its Atlanta and Palm Beach Gardens, Florida, offices, increasing its capabilities in th... (more story)
Bank of America and EY have agreed to pay $2.5 million to nearly 200,000 people to settle claims in multidistrict litigation over the May 2023 breach of file transfer application MOVEit, according to a motion for settlement.
A Connecticut grand jury has charged an in-state businessman allegedly $2.5 million in debt to the Internal Revenue Service and a North Carolina man with engineering a series of financial transactions to keep ... (more story)
State & Local More
Ill. House Passes Bill Aiming To Keep Chicago Bears In-State
The Illinois General Assembly has approved a bill amended to provide more tax incentives for the site of a proposed stadium for the Chicago Bears, who are also considering a stadium offer from neighboring Indiana.
Mich. High Court Fast-Tracks Appeal Over 24% Cannabis Tax
The Michigan Supreme Court has ordered the state's intermediate appeals court to accelerate a closely watched constitutional challenge to the state's 24% cannabis tax that went into effect earlier this year, h... (more story)
Minn. Business Groups Denounce Sales Tax Expansion
Minnesota Gov. Tim Walz's proposal to expand the state's sales tax base to include more services and a social media tax plan would increase costs in the state, several business groups said during a hearing Thursday.
DOJ Final Order Loosens Rules For State-Legal Medical Pot
The U.S. Department of Justice published a final order Thursday loosening federal restrictions on medical marijuana products that fall within the ambit of state-regulated programs or have approval from the U.S... (more story)
Mitigating Multistate Risks As California Expands Tax Reach
Though California's new sourcing rules and extension of the pass-through entity election have created uncertainty, practitioners should file protective returns to respect the law's ambiguity and take certain o... (more story)
MTC Nearing Completion Of Yearslong Digital Tax Project
As a white paper from a Multistate Tax Commission work group studying how to harmonize state rules for taxing digital products nears completion, the group has chosen several key areas that states could focus o... (more story)
Ariz. House OKs Making Tax Dept. Report New Stances
Arizona would require its tax department to notify state lawmakers before adopting interpretations of tax statutes that would "adversely affect" taxpayers under legislation approved by the state House on Tuesday.
The Illinois General Assembly has approved a bill amended to provide more tax incentives for the site of a proposed stadium for the Chicago Bears, who are also considering a stadium offer from neighboring Indiana.
The Michigan Supreme Court has ordered the state's intermediate appeals court to accelerate a closely watched constitutional challenge to the state's 24% cannabis tax that went into effect earlier this year, h... (more story)
Minnesota Gov. Tim Walz's proposal to expand the state's sales tax base to include more services and a social media tax plan would increase costs in the state, several business groups said during a hearing Thursday.
The U.S. Department of Justice published a final order Thursday loosening federal restrictions on medical marijuana products that fall within the ambit of state-regulated programs or have approval from the U.S... (more story)
Though California's new sourcing rules and extension of the pass-through entity election have created uncertainty, practitioners should file protective returns to respect the law's ambiguity and take certain o... (more story)
As a white paper from a Multistate Tax Commission work group studying how to harmonize state rules for taxing digital products nears completion, the group has chosen several key areas that states could focus o... (more story)
Arizona would require its tax department to notify state lawmakers before adopting interpretations of tax statutes that would "adversely affect" taxpayers under legislation approved by the state House on Tuesday.
International More
Cyprus Proposes Reduced Rates In EU Tobacco Tax Bill
Cyprus has proposed lower European Union excise duties on tobacco products such as cigars in an effort to find a compromise on an amended tobacco tax bill, according to the proposal seen by Law360.
Tax Barrister Suspended After Failed Libel Claim
A tax barrister has been suspended from practice until 2027, the bar regulator has said, following the failure of his £8 million ($10.8 million) libel claim against former Clifford Chance LLP partner Dan Neidle.
Lender's COVID Boom Bars $5M Worker Credit Claim, US Says
A mortgage lender isn't entitled to a $5 million refund for denied COVID-19 worker tax credits because the company's true business was never halted by a government order, the U.S. government told a California ... (more story)
Belgian Lawmakers Push Gov't For 3% Digital Services Tax
Belgian lawmakers have introduced a bill to create a 3% digital services tax on revenue that large multinational corporations derive from the country, pushing the governing coalition to follow through on a ple... (more story)
Hungary CPAC Funding Probe Could Implicate US Entities
A Hungarian anti-corruption investigation into claims that the former prime minister used taxpayer funds to support the Conservative Political Action Conference could include potential cross-border political a... (more story)
HMRC Defends Court's Power To Resolve Exit Tax Dispute
A U.K. tribunal didn't overstep its authority by interpreting legislation to allow taxpayers to pay an exit tax in deferred payment plans to comply with the European Union's rights to free establishment, HM Re... (more story)
EU Advocate General Approves Of Denmark VAT Group Limit
The EU's value-added tax rules allow Denmark to combat tax avoidance by requiring a VAT-exempt company to solely own another company for them to register jointly for VAT, a European Court of Justice advocate g... (more story)
Cyprus has proposed lower European Union excise duties on tobacco products such as cigars in an effort to find a compromise on an amended tobacco tax bill, according to the proposal seen by Law360.
A tax barrister has been suspended from practice until 2027, the bar regulator has said, following the failure of his £8 million ($10.8 million) libel claim against former Clifford Chance LLP partner Dan Neidle.
A mortgage lender isn't entitled to a $5 million refund for denied COVID-19 worker tax credits because the company's true business was never halted by a government order, the U.S. government told a California ... (more story)
Belgian lawmakers have introduced a bill to create a 3% digital services tax on revenue that large multinational corporations derive from the country, pushing the governing coalition to follow through on a ple... (more story)
A Hungarian anti-corruption investigation into claims that the former prime minister used taxpayer funds to support the Conservative Political Action Conference could include potential cross-border political a... (more story)
A U.K. tribunal didn't overstep its authority by interpreting legislation to allow taxpayers to pay an exit tax in deferred payment plans to comply with the European Union's rights to free establishment, HM Re... (more story)
The EU's value-added tax rules allow Denmark to combat tax avoidance by requiring a VAT-exempt company to solely own another company for them to register jointly for VAT, a European Court of Justice advocate g... (more story)