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Smithfield Gets Mass. Tax Bill Cut Over Finnigan Calculation
Massachusetts' application of a so-called Finnigan adjustment to Smithfield Packaged Meats Corp.'s sales receipts indirectly taxed income in violation of federal law, a state board said in a decision released Monday, cutting a corporate tax bill for the company by about half.
Atty Hopes AI Tool Can Make Tax Court More Accessible
An attorney has developed an artificial intelligence-powered tool that aims to give practitioners a new window into the U.S. Tax Court's sprawling docket with analyses of judge and attorney workloads, daily opinion summaries and real-time case updates. Michael Coverstone, counsel at Kostelanetz LLP, spoke to Law360 about what it can do.
Insurance Co. Loses Appeal Over Dividend Tax Restitution
An insurance company can't rely on an earlier test case to extend limits for seeking restitution on taxes paid on dividends because the test case has since been overruled, the U.K.'s top court ruled Monday.
Federal More
U.S. District Judge Alan Albright of the Western District of Texas examines how artificial intelligence could transform a court's ability to deal with administrative work and organize materials when preparing ... (more story)
A U.S. Court of Federal Claims judge allowed a California-based health and life insurance services company to amend its complaint to address questions about whether it qualified as an eligible employer to clai... (more story)
A Washington, D.C., federal judge dismissed charges accusing a man of tax evasion in years he worked overseas, agreeing with him that D.C. court wasn't the proper venue because an essential element of the alle... (more story)
A Silicon Valley company specializing in semiconductor process control told the U.S. Tax Court that the Internal Revenue Service wrongly denied it a deduction of at least $60.9 million for dividends received f... (more story)
President Donald Trump's proposed 50% tariffs on select Canadian imports could be a negotiation tactic, but given the ongoing tension between the U.S. and Canada, trade lawyers are bracing for the possibility ... (more story)
President Donald Trump's latest tariff covering most imports to the U.S. is yet another instance of the president attempting to establish an illegal global tariff regime, a pair of companies told the U.S. Cour... (more story)
In this week's Taxation With Representation, Brookfield Asset Management acquires Aypa Power from funds managed by Blackstone Energy Transition Partners, Brookfield and Canada Pension Plan Investment Board buy... (more story)
State & Local More
Ala. Court Upholds Denial Of Film Production Tax Breaks
The denial of Alabama tax incentives claimed by a film production was not subject to judicial review under the state's law on administrative procedures, a state appeals court said Friday, affirming the actions... (more story)
Ensuring Eligibility For Data Center Sales Tax Breaks
As states compete to lure data centers, sales tax exemptions are an important component of many incentive packages — but companies must ensure that projects not only qualify for exemptions on paper, but also c... (more story)
Fighting The Good Fight Against A Bad Rule: SALT In Review
From a continuing challenge to a New York regulation on interstate commerce to Washington state voters' chance to repeal a tax on millionaires, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Kate Hudson Activewear Customer Drops Tariff Refund Claim
A customer of Kate Hudson's activewear business Fabletics has dropped her claim for refunds of global tariffs she alleged the actress's company passed on to customers before the U.S. Supreme Court found them illegal.
Inside Differing State Approaches To Prediction Market Taxes
As states adopt divergent approaches to prediction market platforms through both legislation and litigation, and the landscape is anything but settled, the emerging patchwork of state taxes on prediction marke... (more story)
NY Panel Rejects Paychex Challenge To Apportionment Rules
Paychex can't proceed in state court with claims against New York tax rules that pertain to certain expense reimbursements to professional employer organizations, an appeals court ruled Thursday, saying it mus... (more story)
Mass. Court Affirms License Loss In Lotto Ticket Scheme
An intermediate appellate court in Massachusetts on Wednesday affirmed the permanent revocation of lottery sales licenses for two convenience store owners who allegedly played significant roles in a scheme to ... (more story)
The denial of Alabama tax incentives claimed by a film production was not subject to judicial review under the state's law on administrative procedures, a state appeals court said Friday, affirming the actions... (more story)
As states compete to lure data centers, sales tax exemptions are an important component of many incentive packages — but companies must ensure that projects not only qualify for exemptions on paper, but also c... (more story)
From a continuing challenge to a New York regulation on interstate commerce to Washington state voters' chance to repeal a tax on millionaires, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
A customer of Kate Hudson's activewear business Fabletics has dropped her claim for refunds of global tariffs she alleged the actress's company passed on to customers before the U.S. Supreme Court found them illegal.
As states adopt divergent approaches to prediction market platforms through both legislation and litigation, and the landscape is anything but settled, the emerging patchwork of state taxes on prediction marke... (more story)
Paychex can't proceed in state court with claims against New York tax rules that pertain to certain expense reimbursements to professional employer organizations, an appeals court ruled Thursday, saying it mus... (more story)
An intermediate appellate court in Massachusetts on Wednesday affirmed the permanent revocation of lottery sales licenses for two convenience store owners who allegedly played significant roles in a scheme to ... (more story)
International More
UK Court Cuts Penalties, Upholds Bans Over Pensions Advice
A U.K. appeals court upheld the Financial Conduct Authority's decision to ban a company director and pensions adviser from the financial services sector but reduced the watchdog's penalty assessment, holding M... (more story)
World Cup National Bodies Get IRS Filing Requirement Waived
The Internal Revenue Service will waive a filing requirement for tax-exempt national soccer associations that participated in this year's FIFA World Cup if they lack income connected to the U.S. other than pri... (more story)
DVLA Accused Of Defying Ban To Seal £133M Egis Contract
A debt collector told a London court Friday that the Driver and Vehicle Licensing Agency awarded a £133 million ($177 million) vehicle tax enforcement contract to rival Egis despite a procurement challenge tha... (more story)
Local Councils Object To Administering UK Mansion Tax
Local authorities should not have to administer the U.K. government's mansion tax targeting expensive properties because it will damage local accountability and confuse residents over who is responsible for th... (more story)
Author Trust Royalties Are Capital, Not Income, UK Court Says
Royalty payments accrued in a family trust for the grandchildren of the author of the "Thomas the Tank Engine" books should be considered capital for trust law purposes instead of income, a London court found,... (more story)
Owner Of Dissolved UK Biz Allowed To Fight Capital Gains Tax
A London court declined to toss a taxpayer's challenge to a capital gains tax bill on a £1.6 million ($2.1 million) payout he made before liquidating his company, while dismissing his claims of double taxation... (more story)
USTR Sets Large Canadian Tariff Quotas For Sugar Products
The U.S. will allocate a large portion of its fiscal 2027 tariff rate quotas for refined sugar products and certain sugar-containing goods to Canada, according to a notice published Wednesday by the office of ... (more story)
A U.K. appeals court upheld the Financial Conduct Authority's decision to ban a company director and pensions adviser from the financial services sector but reduced the watchdog's penalty assessment, holding M... (more story)
The Internal Revenue Service will waive a filing requirement for tax-exempt national soccer associations that participated in this year's FIFA World Cup if they lack income connected to the U.S. other than pri... (more story)
A debt collector told a London court Friday that the Driver and Vehicle Licensing Agency awarded a £133 million ($177 million) vehicle tax enforcement contract to rival Egis despite a procurement challenge tha... (more story)
Local authorities should not have to administer the U.K. government's mansion tax targeting expensive properties because it will damage local accountability and confuse residents over who is responsible for th... (more story)
Royalty payments accrued in a family trust for the grandchildren of the author of the "Thomas the Tank Engine" books should be considered capital for trust law purposes instead of income, a London court found,... (more story)
A London court declined to toss a taxpayer's challenge to a capital gains tax bill on a £1.6 million ($2.1 million) payout he made before liquidating his company, while dismissing his claims of double taxation... (more story)
The U.S. will allocate a large portion of its fiscal 2027 tariff rate quotas for refined sugar products and certain sugar-containing goods to Canada, according to a notice published Wednesday by the office of ... (more story)