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Justices Asked To Resolve Cannabis Dormant Commerce Split
A California litigator's campaign of lawsuits alleging that state and local cannabis regulatory regimes violate the U.S. Constitution's dormant commerce clause has culminated in a petition for a writ of certiorari which appeared on the U.S. Supreme Court's docket Tuesday.
Tax Court Limits Sysco's Deductions After Varian Ruling
The U.S. Tax Court limited the deductions that Sysco Corp. can take on repatriated income, holding Monday that the food services giant failed to distinguish its case from Varian Medical Systems Inc.'s failed bid for identical deductions in an earlier ruling.
Lawsuits Challenge New Ill. Taxes On Digital Ads, Social Media
Newly enacted taxes in Illinois on digital advertising and social media platforms violate federal law and the U.S. Constitution and should be struck down, an industry group charged in a pair of lawsuits in state court.
Justices Asked To Resolve Cannabis Dormant Commerce Split
A California litigator's campaign of lawsuits alleging that state and local cannabis regulatory regimes violate the U.S. Constitution's dormant commerce clause has culminated in a petition for a writ of certiorari which appeared on the U.S. Supreme Court's docket Tuesday.
Tax Court Limits Sysco's Deductions After Varian Ruling
The U.S. Tax Court limited the deductions that Sysco Corp. can take on repatriated income, holding Monday that the food services giant failed to distinguish its case from Varian Medical Systems Inc.'s failed bid for identical deductions in an earlier ruling.
Lawsuits Challenge New Ill. Taxes On Digital Ads, Social Media
Newly enacted taxes in Illinois on digital advertising and social media platforms violate federal law and the U.S. Constitution and should be struck down, an industry group charged in a pair of lawsuits in state court.
Federal More
The U.S. Tax Court incorrectly overstepped state insurance regulators in holding that an ophthalmology practice's microcaptive insurance arrangements lacked economic substance, an eye doctor and his wife told ... (more story)
The Fifth Circuit upheld the U.S. Small Business Administration's denial of a Texas law firm's bid for forgiveness of a Paycheck Protection Program loan of about $249,000 due to the firm's failure to disclose ... (more story)
A Connecticut federal judge Monday sentenced a former Moses & Singer LLP partner to 10 months of imprisonment and ordered him to pay more than $3.1 million for failing to file personal income tax returns, the ... (more story)
A California federal judge has dismissed TurboTax distributor Intuit Inc. and several of its partners from a proposed class action alleging their process for distributing tax refund advance loans comes with hi... (more story)
Disaster victims would be allowed to deduct qualified losses above $500 per disaster without having to itemize under bipartisan legislation signed into law by President Donald Trump.
President Donald Trump said Sunday that the U.S. is planning to remove tariffs on whiskey imported from Ireland.
The Internal Revenue Service asked the Sixth Circuit to affirm a Tennessee federal court's ruling that a set of revised IRS rules requiring taxpayers to disclose some microcaptive insurance arrangements doesn'... (more story)
State & Local More
What To Expect From Colorado's New Artist Co. Structure
Colorado's newly established class of artist companies, or A-Corps, provides a useful structure for small-scale ventures, but challenges could arise for more complex business plans, and limitations on investor... (more story)
NY AG, CFTC Tussle Over Prediction Markets, Gambling Laws
The U.S. Commodity Futures Trading Commission on Monday asked a New York federal judge to find that the federal regulator has exclusive jurisdiction over prediction markets and put a stop to efforts by the sta... (more story)
Md. Seeks Review Of Court Ruling Scrapping Digital Ad Tax
Maryland's comptroller is appealing state tax court rulings that struck down the state's digital advertising tax, according to filings in state circuit court.
Wis. Justices Decline To Review StubHub's $8.5M Tax Bill
The Wisconsin Supreme Court declined StubHub's petition for review of an appellate court decision that found the company liable for about $8.5 million in sales tax on tickets sold through its online platform.
SF Vacancy Tax Barred By Calif. Law, Appeals Court Affirms
San Francisco's voter-approved tax on vacant residential units penalizes property owners for keeping those off the rental market and thus violates California law, a state appeals court panel ruled, upholding a trial court.
Prediction Markets Ask Justices To Settle Sports Wager Split
Crypto.com on Friday became the third party to call on the U.S. Supreme Court to address the closely-watched circuit split on prediction market regulation, challenging a Ninth Circuit decision that allowed Nev... (more story)
Fox Rothschild Adds Berger Singerman Estate Pro In Miami
Fox Rothschild LLP has deepened its tax and wealth planning department with a Miami-based partner who came aboard from Berger Singerman LLP.
Colorado's newly established class of artist companies, or A-Corps, provides a useful structure for small-scale ventures, but challenges could arise for more complex business plans, and limitations on investor... (more story)
The U.S. Commodity Futures Trading Commission on Monday asked a New York federal judge to find that the federal regulator has exclusive jurisdiction over prediction markets and put a stop to efforts by the sta... (more story)
Maryland's comptroller is appealing state tax court rulings that struck down the state's digital advertising tax, according to filings in state circuit court.
The Wisconsin Supreme Court declined StubHub's petition for review of an appellate court decision that found the company liable for about $8.5 million in sales tax on tickets sold through its online platform.
San Francisco's voter-approved tax on vacant residential units penalizes property owners for keeping those off the rental market and thus violates California law, a state appeals court panel ruled, upholding a trial court.
Crypto.com on Friday became the third party to call on the U.S. Supreme Court to address the closely-watched circuit split on prediction market regulation, challenging a Ninth Circuit decision that allowed Nev... (more story)
Fox Rothschild LLP has deepened its tax and wealth planning department with a Miami-based partner who came aboard from Berger Singerman LLP.
International More
EU States Resist Taxing Electricity No More Than Natural Gas
Many European Union member states are opposed to a draft regulation that would require them to keep tax rates on electricity no higher than on natural gas and to adopt a tax framework supporting electricity mo... (more story)
UK Minister Pledges To Protect Pensioners From Tax
Britain will shield pensioners from being hit with taxes if the state pension rises above the basic income tax threshold as projected, a minister said Tuesday.
EU Lawmakers Back Carbon Tax For Finished Steel Goods
The European Parliament voted Tuesday to approve a proposal to extend the carbon border tax to more than 450 finished goods, tightening rules for high-carbon imports into the European Union.
EU Presidency Presses Sweden On Tobacco Taxation Bill
The presidency of the Council of the European Union is focused on tackling political issues in bilateral talks, notably with Sweden, to advance a bill on the bloc's tobacco taxation rules, an EU official told ... (more story)
City Of London Urges Tax Restraint To Protect Growth
The Labour government shouldn't risk growth by raising taxes on financial and professional services at a time when the economy is fragile, the City of London Corp. said Monday.
Fed. Circ. Scrutinizes Presumptive Date In Turkish Rebar Row
A Federal Circuit panel on Friday looked to clarify the effect of the U.S. Department of Commerce's presumption that invoice dates are generally the best option for determining dates of sale during duty invest... (more story)
European Commission Sends India Trade Deal To EU Council
The European Commission on Friday presented a "landmark" free trade agreement with India to the Council of the European Union for final approval, with the deal set to eliminate Indian tariffs on almost all EU goods.
Many European Union member states are opposed to a draft regulation that would require them to keep tax rates on electricity no higher than on natural gas and to adopt a tax framework supporting electricity mo... (more story)
Britain will shield pensioners from being hit with taxes if the state pension rises above the basic income tax threshold as projected, a minister said Tuesday.
The European Parliament voted Tuesday to approve a proposal to extend the carbon border tax to more than 450 finished goods, tightening rules for high-carbon imports into the European Union.
The presidency of the Council of the European Union is focused on tackling political issues in bilateral talks, notably with Sweden, to advance a bill on the bloc's tobacco taxation rules, an EU official told ... (more story)
The Labour government shouldn't risk growth by raising taxes on financial and professional services at a time when the economy is fragile, the City of London Corp. said Monday.
A Federal Circuit panel on Friday looked to clarify the effect of the U.S. Department of Commerce's presumption that invoice dates are generally the best option for determining dates of sale during duty invest... (more story)
The European Commission on Friday presented a "landmark" free trade agreement with India to the Council of the European Union for final approval, with the deal set to eliminate Indian tariffs on almost all EU goods.