Partnership Says Data Centers Should Not Trigger $24M In Tax
A partnership's acquisition of data centers and improvements to a damaged building should not have triggered $24 million in additional taxes, it told the U.S. Tax Court in challenging adjustments by the Internal Revenue Service.
Philly Mayor Pitches Delivery Tax, Local Tax On Remote Sales
Philadelphia would impose a retail delivery tax on goods delivered, make changes to remote sellers' local sales tax requirement, increase the city's hotel tax and make other tax changes under a $7 billion 2027 budget proposed Thursday by the city's mayor.
Microsoft, Michigan Settle Cost-Share Receipts Tax Fight
Microsoft and Michigan reached a settlement over the company's challenge to the state's tax treatment of its cost-sharing agreement receipts with foreign affiliates, according to a dismissal order entered Thursday by the state's Tax Tribunal.
Partnership Says Data Centers Should Not Trigger $24M In Tax
A partnership's acquisition of data centers and improvements to a damaged building should not have triggered $24 million in additional taxes, it told the U.S. Tax Court in challenging adjustments by the Internal Revenue Service.
Philly Mayor Pitches Delivery Tax, Local Tax On Remote Sales
Philadelphia would impose a retail delivery tax on goods delivered, make changes to remote sellers' local sales tax requirement, increase the city's hotel tax and make other tax changes under a $7 billion 2027 budget proposed Thursday by the city's mayor.
Microsoft, Michigan Settle Cost-Share Receipts Tax Fight
Microsoft and Michigan reached a settlement over the company's challenge to the state's tax treatment of its cost-sharing agreement receipts with foreign affiliates, according to a dismissal order entered Thursday by the state's Tax Tribunal.
Federal More
In this week's Taxation With Representation, uniform maker Cintas Corp. acquires workwear company UniFirst Corp., Controlled Thermal Resources Holdings Inc. plans to go public by merging with a special purpose... (more story)
U.S. Customs and Border Protection is making progress developing a system for importers to claim refunds for the global tariff regime struck down by the U.S. Supreme Court, an official told the U.S. Court of I... (more story)
The IRS and the parent of Pizza Hut, KFC and Taco Bell agreed that the company's total deductions for domestic production activities during 2013-2015 were $1.6 million — roughly 15% of the $10.7 million the co... (more story)
The owner of a broadcasting company whose deal to sell $75 million in assets fell through is headed to settlement negotiations with the federal government over $18 million in taxes related to his father's esta... (more story)
A Puerto Rico magistrate judge recommended denying a taxpayer's bid to block the IRS from assessing her tax liabilities while the agency's clerical errors that she alleges remain unresolved, holding that she f... (more story)
Sidley Austin LLP has hired a former Weil Gotshal & Manges LLP tax partner, who joined the firm in New York.
Costco shoppers are owed back the higher costs they paid as a result of President Donald Trump's global tariffs that the nation's highest court has since declared unlawful, according to a putative consumer cla... (more story)
State & Local More
NM Decouples From Parts Of Federal Tax Bill, Enacts Budget
New Mexico will spend $11.1 billion for its 2027 fiscal year and decouple from certain corporate income tax provisions of the federal tax and policy law enacted in July under a budget and omnibus tax bill sign... (more story)
Mo. House Passes Income Tax Phaseout Plan
A Missouri constitutional amendment to phase out the state's income tax and replace the lost revenue through a broader sales tax base passed the House of Representatives on Thursday and will next head to the Senate.
May Vote On $4B Oregon Transit Plan Gets Court's OK
An Oregon judge rejected an effort to prevent the state from moving a referendum on most of a $4 billion transportation funding package from November to May, saying lawmakers had authority under the state cons... (more story)
Congestion Pricing Fight In 2nd Circ. Turns On Jurisdiction
The Second Circuit asked Thursday whether New York City congestion pricing is a tax or a toll, with one judge suggesting that a challenge to the program from two Empire State counties could land in state court... (more story)
Fiserv Arm Freed From $3.4M Fla. Tax Bill In Sourcing Fight
A Fiserv entity didn't conduct enough activities in Florida to source income generated from online billing payment services to the state, a Florida state court found, voiding a roughly $3.4 million income tax ... (more story)
Minn. Biz Groups Make Case For Mirroring Fed. Tax Breaks
Minnesota business groups urged a state House panel Wednesday to support legislation to conform the state to provisions enhancing corporate tax deductions and credits in last year's federal budget legislation.
Ariz. Panel OKs Plan To Need Supermajorities For Fee Hikes
Arizona voters would decide whether to require at least two-thirds support from lawmakers for fee increases under a resolution advanced Wednesday by the state House Ways and Means Committee.
New Mexico will spend $11.1 billion for its 2027 fiscal year and decouple from certain corporate income tax provisions of the federal tax and policy law enacted in July under a budget and omnibus tax bill sign... (more story)
A Missouri constitutional amendment to phase out the state's income tax and replace the lost revenue through a broader sales tax base passed the House of Representatives on Thursday and will next head to the Senate.
An Oregon judge rejected an effort to prevent the state from moving a referendum on most of a $4 billion transportation funding package from November to May, saying lawmakers had authority under the state cons... (more story)
The Second Circuit asked Thursday whether New York City congestion pricing is a tax or a toll, with one judge suggesting that a challenge to the program from two Empire State counties could land in state court... (more story)
A Fiserv entity didn't conduct enough activities in Florida to source income generated from online billing payment services to the state, a Florida state court found, voiding a roughly $3.4 million income tax ... (more story)
Minnesota business groups urged a state House panel Wednesday to support legislation to conform the state to provisions enhancing corporate tax deductions and credits in last year's federal budget legislation.
Arizona voters would decide whether to require at least two-thirds support from lawmakers for fee increases under a resolution advanced Wednesday by the state House Ways and Means Committee.
International More
Reeves Says Energy Windfall Tax May Not Apply By Late 2027
The U.K.'s energy profits levy is expected to no longer apply to oil and gas operations in the North Sea in the last quarter of 2027, especially if the current Middle East crisis de-escalates and energy prices... (more story)
Cos. Ask Court To Toss Trump's Revamped Global Tariffs
Two companies are challenging President Donald Trump's revamped global tariff regime, telling the U.S. Court of International Trade that the circumstances required to justify the regime cannot exist.
Dairy Giant Loses Bid For UK Tax Deductions On IP Transfers
A London court on Wednesday dismissed a European dairy giant's appeal seeking corporate tax deductions for intellectual property transferred to the partnership by its corporate members.
Tax Court Ruling Signals Cross-Border Loan Scrutiny
The U.S. Tax Court’s recent decision in Aventis v. Commissioner compounds ongoing regulatory focus on debt originations and should prompt practitioners to assess their existing cross-border lending structures ... (more story)
EU Refers Spain To Top Court For Inaction On VAT Directives
Spain will be referred to the European Union's top court for failing to incorporate two legal directives on value-added tax into Spanish law by a December 2024 deadline, the EU's executive arm said Wednesday.
Barrister's Libel Claim Against Neidle Dismissed As SLAPP
A judge has struck out a barrister's £8 million ($11 million) libel claim against Dan Neidle, ruling on Wednesday that the case had no chance of succeeding and amounted to a strategic legal claim designed to s... (more story)
Exxon Wins $27M Deduction In Canadian Tax Dispute
The Tax Court of Canada backed Exxon Mobil's bid for a CA$36.2 million ($26.7 million) income deduction for expenses tied to an abandoned Alaskan pipeline project, holding that the company incurred the costs w... (more story)
The U.K.'s energy profits levy is expected to no longer apply to oil and gas operations in the North Sea in the last quarter of 2027, especially if the current Middle East crisis de-escalates and energy prices... (more story)
Two companies are challenging President Donald Trump's revamped global tariff regime, telling the U.S. Court of International Trade that the circumstances required to justify the regime cannot exist.
A London court on Wednesday dismissed a European dairy giant's appeal seeking corporate tax deductions for intellectual property transferred to the partnership by its corporate members.
The U.S. Tax Court’s recent decision in Aventis v. Commissioner compounds ongoing regulatory focus on debt originations and should prompt practitioners to assess their existing cross-border lending structures ... (more story)
Spain will be referred to the European Union's top court for failing to incorporate two legal directives on value-added tax into Spanish law by a December 2024 deadline, the EU's executive arm said Wednesday.
A judge has struck out a barrister's £8 million ($11 million) libel claim against Dan Neidle, ruling on Wednesday that the case had no chance of succeeding and amounted to a strategic legal claim designed to s... (more story)
The Tax Court of Canada backed Exxon Mobil's bid for a CA$36.2 million ($26.7 million) income deduction for expenses tied to an abandoned Alaskan pipeline project, holding that the company incurred the costs w... (more story)