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States' Prediction Market Tax Moves Set Up Federalism Fight
States have a growing interest in regulating and taxing prediction markets, but the federal government is stepping in, setting up a preemption conflict in real time, tax professionals said.
Apportionment Fights Likely To Persist After High Court Pass
Florida's unsuccessful bid to have the U.S. Supreme Court review a special apportionment rule in California highlights the discontent businesses have expressed against a patchwork of state apportionment methods and could signal that more such disputes are on the horizon.
Amgen Can't Amend Petition To Address Potential Double Tax
Drugmaker Amgen isn't entitled to amend its petition to protect against possible double taxation after an eight-week trial and briefing in its income-allocation case already have been completed, the U.S. Tax Court said, noting that the trial concluded in January 2025.
States' Prediction Market Tax Moves Set Up Federalism Fight
States have a growing interest in regulating and taxing prediction markets, but the federal government is stepping in, setting up a preemption conflict in real time, tax professionals said.
Apportionment Fights Likely To Persist After High Court Pass
Florida's unsuccessful bid to have the U.S. Supreme Court review a special apportionment rule in California highlights the discontent businesses have expressed against a patchwork of state apportionment methods and could signal that more such disputes are on the horizon.
Federal More
A former committee staff director for U.S. Sen. Tim Scott, R-S.C., has been hired at K&L Gates LLP, the firm announced Wednesday, following her time as a senior vice president with a bipartisan government rela... (more story)
A hiring startup that supplies workers to train artificial intelligence models for OpenAI, Anthropic and Meta urged a Texas federal judge to send a proposed class action alleging worker misclassification to in... (more story)
A real estate investment trust can be an attractive business model for data centers, but complying with federal REIT rules is tricky for properties with digital infrastructure, given their unique needs, accord... (more story)
The Fifth Circuit denied the U.S. government's request for the full court to review a three-judge panel's April opinion finding the tax code's ban on distilling whiskey at home unconstitutional after another a... (more story)
Plaintiffs challenging what they call President Donald Trump's proposed $1.8 billion "slush fund" in Virginia and Washington, D.C., federal court on Tuesday expressed doubt that the administration's plan to pa... (more story)
A former congressman urged a Florida federal court to overturn a jury verdict finding him guilty of secretly lobbying for Venezuela's leftist regime for $50 million, arguing several missteps by the court resul... (more story)
Several bills under discussion in the House would clarify tax rules for digital assets and address gaps in the current tax system, stakeholders told the House Ways and Means Committee on Tuesday ahead of an ex... (more story)
State & Local More
RI Lawmakers Approve $15B Budget With Tax On Millionaires
Rhode Island lawmakers passed a $15.2 billion budget proposal including a surtax on income over $1 million that would increase during the next three years, sending it to the governor.
Tenn. Remittance Tax Is Unconstitutional, Fintech Group Says
A top fintech industry organization sued Wednesday to block an impending new Tennessee tax on outgoing international money transfers, challenging what the trade group contends is an unconstitutional toll on th... (more story)
States Grapple With Sourcing Taxes On College NIL Pay
Sourcing income paid to student athletes has become a complex endeavor for states, athletes and their representatives amid different kinds of income and a patchwork of state policies, tax professionals said Tuesday.
Insurance Co. Wins New Look At $11M Wash. Tax Bill
A Washington appeals court panel agreed Tuesday to partially reconsider its March reversal of a tax award of nearly $11 million to a title insurance provider, announcing it had withdrawn the previous decision ... (more story)
Fiserv Unit Urges Ohio Justices To Rule In Sales Tax Case
The Ohio Supreme Court should rule on the remaining sales tax issues in a Fiserv subsidiary's case, despite the Board of Tax Appeals remanding the case to the tax commissioner for further analysis, the subsidi... (more story)
Neb. Tax Board Upholds Hotel's $1.8M Valuation
Nebraska's tax board upheld the $1.8 million valuation of a hotel, saying that testimony from the property owner's corporate officer didn't warrant cutting its appraisal by more than $1 million.
NHL Team Plans Move To New Arena In Dallas Suburb
The Plano, Texas, City Council has approved a letter of intent with the Dallas Stars on plans to build the NHL team a new arena, signaling a move from the downtown Dallas arena where they have played since 2001.
Rhode Island lawmakers passed a $15.2 billion budget proposal including a surtax on income over $1 million that would increase during the next three years, sending it to the governor.
A top fintech industry organization sued Wednesday to block an impending new Tennessee tax on outgoing international money transfers, challenging what the trade group contends is an unconstitutional toll on th... (more story)
Sourcing income paid to student athletes has become a complex endeavor for states, athletes and their representatives amid different kinds of income and a patchwork of state policies, tax professionals said Tuesday.
A Washington appeals court panel agreed Tuesday to partially reconsider its March reversal of a tax award of nearly $11 million to a title insurance provider, announcing it had withdrawn the previous decision ... (more story)
The Ohio Supreme Court should rule on the remaining sales tax issues in a Fiserv subsidiary's case, despite the Board of Tax Appeals remanding the case to the tax commissioner for further analysis, the subsidi... (more story)
Nebraska's tax board upheld the $1.8 million valuation of a hotel, saying that testimony from the property owner's corporate officer didn't warrant cutting its appraisal by more than $1 million.
The Plano, Texas, City Council has approved a letter of intent with the Dallas Stars on plans to build the NHL team a new arena, signaling a move from the downtown Dallas arena where they have played since 2001.
International More
British Airways Owes £5.8M Tax Over Hotel Stays, HMRC Says
Britain's tax authority urged a London tribunal Wednesday to rule that British Airways is liable for around £5.8 million ($7.8 million) in tax over hotel rooms provided to cabin crew on back-to-back flights.
Trust Did Not Hold Taxable Loan, Aussie High Court Says
The Australia High Court rejected Australian revenue authorities' bid to tax nearly AU$1.7 million ($1.2 million) that a real estate company held in a trust, ruling Wednesday that the money did not constitute ... (more story)
KC Says HMRC Tried To 'Cancel' Him In £2M Evasion Case
A senior tax barrister told a court Wednesday that HM Revenue and Customs prosecuting him for evading almost £2 million ($2.7 million) in tax was its way of "canceling" a person the tax authority found "extrem... (more story)
VAT Group Members Need Own Carveout, EU Court Says
Grouped companies classed as a single entity for value-added tax payments should still be considered separately in a determination of their eligibility for certain VAT exemptions, a European Union court said Wednesday.
CIT Judge Skeptical Of Gov't's IEEPA Refund Appeal
A U.S. Court of International Trade judge spent much of an hour-plus hearing Tuesday attempting to talk the federal government out of appealing his order requiring immediate refunds of President Donald Trump's... (more story)
The Law360 400: A Look At The Top 100 Firms
The race to build the legal industry's largest law firm accelerated in 2025, with major firms leaning on mergers, lateral hiring and strategic expansion to climb the ranks of the Law360 400.
Barclays Wins Bid To Appeal Denial Of £800M Tax Deduction
A lower tribunal made errors and must reconsider its ruling against Barclays Bank and in favor of Britain's tax authority regarding an £800 million ($1.1 billion) corporate tax deduction dating back to a deal ... (more story)
Britain's tax authority urged a London tribunal Wednesday to rule that British Airways is liable for around £5.8 million ($7.8 million) in tax over hotel rooms provided to cabin crew on back-to-back flights.
The Australia High Court rejected Australian revenue authorities' bid to tax nearly AU$1.7 million ($1.2 million) that a real estate company held in a trust, ruling Wednesday that the money did not constitute ... (more story)
A senior tax barrister told a court Wednesday that HM Revenue and Customs prosecuting him for evading almost £2 million ($2.7 million) in tax was its way of "canceling" a person the tax authority found "extrem... (more story)
Grouped companies classed as a single entity for value-added tax payments should still be considered separately in a determination of their eligibility for certain VAT exemptions, a European Union court said Wednesday.
A U.S. Court of International Trade judge spent much of an hour-plus hearing Tuesday attempting to talk the federal government out of appealing his order requiring immediate refunds of President Donald Trump's... (more story)
The race to build the legal industry's largest law firm accelerated in 2025, with major firms leaning on mergers, lateral hiring and strategic expansion to climb the ranks of the Law360 400.
A lower tribunal made errors and must reconsider its ruling against Barclays Bank and in favor of Britain's tax authority regarding an £800 million ($1.1 billion) corporate tax deduction dating back to a deal ... (more story)