Minneapolis Hilton Wins $70M Cut To Tax Value
The Minnesota Tax Court has lowered the assessed values of a Hilton hotel in Minneapolis for each of four years, including by $70 million for 2017, adopting the owner's method for parsing the hotel's tangible and intangible assets.
Treasury Floats Plan To Scrap Look-Through Rules
The U.S. Treasury Department proposed regulations Monday that would remove rules that allow revenue officials to, in a manner of speaking, look through the corporate owners of real estate investment entities to determine whether they are domestically controlled.
NYC Pitches Following MTC Position On Internet Activities
New York City would follow the Multistate Tax Commission's position on when a company's internet activities exceed P.L. 86-272's protections against income taxes under regulations proposed by the city's tax agency.
Minneapolis Hilton Wins $70M Cut To Tax Value
The Minnesota Tax Court has lowered the assessed values of a Hilton hotel in Minneapolis for each of four years, including by $70 million for 2017, adopting the owner's method for parsing the hotel's tangible and intangible assets.
Treasury Floats Plan To Scrap Look-Through Rules
The U.S. Treasury Department proposed regulations Monday that would remove rules that allow revenue officials to, in a manner of speaking, look through the corporate owners of real estate investment entities to determine whether they are domestically controlled.
NYC Pitches Following MTC Position On Internet Activities
New York City would follow the Multistate Tax Commission's position on when a company's internet activities exceed P.L. 86-272's protections against income taxes under regulations proposed by the city's tax agency.
Federal More
The U.S. Treasury Department should clarify how developers can demonstrate new supplier certification compliance for some clean energy tax credits retooled by the Republican budget law, practitioners said Mond... (more story)
Latin American countries, especially Brazil, are concerned that the deal announced by the Group of Seven countries in June exempting U.S. multinationals from a globally agreed 15% minimum tax gives the U.S. an... (more story)
The CEO of a defunct tax-compliance startup lied to investors as she raised $13 million for her company, overstating its revenues by almost 900 times and falsely claiming she was a certified public accountant,... (more story)
The International Emergency Economic Powers Act has never been used until President Donald Trump to impose tariffs, and nowhere does the law provide that explicit authority, a dozen states, several small busin... (more story)
The U.S. Supreme Court let stand Monday the repeat indictment of a health clinic manager for what the Second Circuit called a massive, yearslong scheme to submit false claims to Medicare and Medicaid, effectiv... (more story)
President Donald Trump signed an executive order Friday to begin anticipated tariffs on heavy and medium trucks on Nov. 1, while expanding a program that domestic auto manufacturers are already utilizing for r... (more story)
A New Mexico medical marijuana company said Friday that a federal policy barring cannabis enterprises from taking ordinary business deductions should not apply, and the company is entitled to a refund for overpayment.
State & Local More
NY AG Reaches Deal With Accounting Firm Over Data Breaches
A certified public accounting firm has agreed to pay $60,000 and improve its data security to resolve the New York attorney general's claims that it failed to adequately protect unencrypted Social Security num... (more story)
Calif. Agency Has To Follow Refund Order, State Justices Told
The California Department of Tax and Fee Administration should not have been allowed to challenge a state Office of Tax Appeals order granting a tobacco company an excise tax refund, a tax education organizati... (more story)
Chicago Mayor Pitches 'Head Tax' Revival, Other Changes
Chicago's mayor has floated a host of tax increases and changes in his budget presentation, including a tax on social media companies and a revival of a city fee based on the number of a company's employees, s... (more story)
Georgia Justices Affirm Stormwater Charge Is Fee, Not Tax
A stormwater utility charge levied by a local government in Georgia is a fee, not a tax, the state Supreme Court said, upholding a trial court's finding that the charge did not violate the state constitution's... (more story)
Electronic Co. Tells Justices Trump Tariffs Are The Emergency
Emergency tariffs imposed by President Donald Trump are creating extraordinary economic threats under a law that was intended to protect U.S. retailers from such harm, a Virginia-based electronics company told... (more story)
Taxation With Representation: Latham, Kirkland, Wachtell
In this week's Taxation With Representation, the Artificial Intelligence Infrastructure Partnership, MGX, and BlackRock's Global Infrastructure Partners acquire Aligned Data Centers from Macquarie Asset Manage... (more story)
High Court, Not A Single Justice, Should Decide On Recusal
As public trust in the U.S. Supreme Court continues to decline, the court should adopt a collegial framework in which all justices decide questions of recusal together — a reform that respects both judicial in... (more story)
MTA Wants Truckers' Congestion Pricing Suit Tossed
New York officials have told a Manhattan federal judge that an amended lawsuit alleging congestion pricing tolls wrongfully discriminate against commercial truckers still doesn't offer any new facts suggesting... (more story)
China's Crackdown On Rare Earth Minerals Spooks Importers
In the latest trade salvo between the U.S. and China, stricter Chinese export controls on critical earth minerals that many U.S. manufacturers rely on are causing concern for businesses, which may have difficu... (more story)
A certified public accounting firm has agreed to pay $60,000 and improve its data security to resolve the New York attorney general's claims that it failed to adequately protect unencrypted Social Security num... (more story)
The California Department of Tax and Fee Administration should not have been allowed to challenge a state Office of Tax Appeals order granting a tobacco company an excise tax refund, a tax education organizati... (more story)
Chicago's mayor has floated a host of tax increases and changes in his budget presentation, including a tax on social media companies and a revival of a city fee based on the number of a company's employees, s... (more story)
A stormwater utility charge levied by a local government in Georgia is a fee, not a tax, the state Supreme Court said, upholding a trial court's finding that the charge did not violate the state constitution's... (more story)
Emergency tariffs imposed by President Donald Trump are creating extraordinary economic threats under a law that was intended to protect U.S. retailers from such harm, a Virginia-based electronics company told... (more story)
In this week's Taxation With Representation, the Artificial Intelligence Infrastructure Partnership, MGX, and BlackRock's Global Infrastructure Partners acquire Aligned Data Centers from Macquarie Asset Manage... (more story)
As public trust in the U.S. Supreme Court continues to decline, the court should adopt a collegial framework in which all justices decide questions of recusal together — a reform that respects both judicial in... (more story)
New York officials have told a Manhattan federal judge that an amended lawsuit alleging congestion pricing tolls wrongfully discriminate against commercial truckers still doesn't offer any new facts suggesting... (more story)
In the latest trade salvo between the U.S. and China, stricter Chinese export controls on critical earth minerals that many U.S. manufacturers rely on are causing concern for businesses, which may have difficu... (more story)
International More
Directors Jailed For £20M Fraud Involving Fake VAT Claims
Six company directors were sentenced Monday for their role in a £20 million ($27 million) tax fraud involving a wholesale electrical appliance business that deliberately understated how much value-added tax wa... (more story)
UN Shipping Agency Delays Carbon Price Opposed By US
The United Nations' shipping agency agreed Friday to postpone for one year its plan to introduce a global carbon price, which the U.S. government opposes, having called it a "global carbon tax."
Covington Adds Former IRS Special Counsel In DC
Covington & Burling LLP has grown its tax practice in Washington, D.C., with the addition of a former special counsel in the Office of Chief Counsel at the Internal Revenue Service.
EU Still Hopes For Pillar 1 Despite Doubts
The European Union's best chance for resolving how to tax the digital economy is still to use the OECD's Pillar One rather than unilateral measures that risk disputes, the EU's tax director told the European P... (more story)
Newsquest Defends Report On Wage Practices At Welsh Club
An English regional newspaper publisher has defended itself against a Welsh telecommunications businessman's libel claim, saying it accurately reported that one of its companies underpaid its employers.
Economist, Country Officials Call For Taxes On Wealthy
Columbia University professor and economist Joseph Stiglitz met with officials from Spain and Chile on Wednesday at an event that called for tax policies to rein in extreme wealth.
Sabre Says British Airways Must Reimburse For UK Digital Tax
Flight booking giant Sabre sued British Airways over a digital tax bill it says it was required to pay the U.K. on the airline's behalf, claiming the airline was contractually obligated to reimburse Sabre for ... (more story)
Six company directors were sentenced Monday for their role in a £20 million ($27 million) tax fraud involving a wholesale electrical appliance business that deliberately understated how much value-added tax wa... (more story)
The United Nations' shipping agency agreed Friday to postpone for one year its plan to introduce a global carbon price, which the U.S. government opposes, having called it a "global carbon tax."
Covington & Burling LLP has grown its tax practice in Washington, D.C., with the addition of a former special counsel in the Office of Chief Counsel at the Internal Revenue Service.
The European Union's best chance for resolving how to tax the digital economy is still to use the OECD's Pillar One rather than unilateral measures that risk disputes, the EU's tax director told the European P... (more story)
An English regional newspaper publisher has defended itself against a Welsh telecommunications businessman's libel claim, saying it accurately reported that one of its companies underpaid its employers.
Columbia University professor and economist Joseph Stiglitz met with officials from Spain and Chile on Wednesday at an event that called for tax policies to rein in extreme wealth.
Flight booking giant Sabre sued British Airways over a digital tax bill it says it was required to pay the U.K. on the airline's behalf, claiming the airline was contractually obligated to reimburse Sabre for ... (more story)