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Keysight Invalidates IRS Rule On GILTI, Abbott Says
A 2019 rule on the calculation of global intangible low-taxed income that the IRS relied on to allocate $8 million to Abbott Laboratories in 2020 is invalid, the company said, citing a recent ruling by the U.S. Court of Federal Claims.
Md. Justices Remand Utility's $2.4M Sales Tax Refund Ruling
Equipment purchased by a Maryland utility was exempt from sales tax, the state Supreme Court ruled Friday while remanding the case for the lower court to consider the timeliness of the company's refund request that led to a tax court judgment of $2.4 million plus interest.
EU Countries Split On Pillar 2 Multinationals' Reporting Breaks
European Union countries are deeply divided on proposals from the European Commission to exempt Pillar 2 companies from certain rules that aim to prevent tax abuse, EU officials told Law360.
Keysight Invalidates IRS Rule On GILTI, Abbott Says
A 2019 rule on the calculation of global intangible low-taxed income that the IRS relied on to allocate $8 million to Abbott Laboratories in 2020 is invalid, the company said, citing a recent ruling by the U.S. Court of Federal Claims.
Md. Justices Remand Utility's $2.4M Sales Tax Refund Ruling
Equipment purchased by a Maryland utility was exempt from sales tax, the state Supreme Court ruled Friday while remanding the case for the lower court to consider the timeliness of the company's refund request that led to a tax court judgment of $2.4 million plus interest.
EU Countries Split On Pillar 2 Multinationals' Reporting Breaks
European Union countries are deeply divided on proposals from the European Commission to exempt Pillar 2 companies from certain rules that aim to prevent tax abuse, EU officials told Law360.
Federal More
The D.C. Circuit has upheld the maximum prison sentence handed down in the case of an IRS contractor who pled guilty to leaking President Donald Trump's tax returns, along with thousands of others, ruling Frid... (more story)
An energy company that the U.S. Tax Court allowed to give up the normal carryback period for its net operating losses without waiving the 10-year period for specified liability losses wants the court to amend ... (more story)
In this week's Taxation With Representation, Uber Technologies Inc. buys food delivery company Delivery Hero SE, engineering group ABB Ltd. acquires flow technology company Rotork PLC, and Eli Lilly and Co. bu... (more story)
Online tax return filers who alleged Google's tracking tool effectively eavesdropped on their confidential tax information asked a California federal judge to certify several classes in their suit against the search giant.
Congress needs to take steps to create a tax structure for the digital asset market, two of President Donald Trump's picks to serve in U.S. Treasury Department posts told the Senate Finance Committee during a ... (more story)
Senate Democrats on Thursday once again reintroduced a cannabis legalization bill that would remove the drug entirely from the ambit of the Controlled Substances Act and impose a tax-and-regulate scheme akin t... (more story)
Ashurst Perkins Coie announced Thursday that it has bolstered its tax practice with a Los Angeles-based partner who came aboard from Stradling Yocca Carlson & Rauth PC.
State & Local More
Conn. Justices Bar Town From Killing Errant Forest Tax Break
A Connecticut municipal assessor did not have the authority to terminate a property tax break for forest use that was erroneously granted, the state Supreme Court said Friday, suggesting that state lawmakers c... (more story)
Wash. Income Tax Challenge Qualifies For Ballot
A Washington state initiative that would bar taxation of individual income and, in turn, repeal a recently approved high-earner tax has received enough signatures to appear on the November 2026 ballot, the Sec... (more story)
Skill Games, Grinch Bots: A Midyear Pa. Legislation Review
Two major rulings from the Pennsylvania Supreme Court have left it up to the Legislature to address "skill games" and second-degree murder sentences, while other pending bills would tackle a long-standing chal... (more story)
Being A Magician Makes Me A Better Lawyer
The skills I've developed as a lifelong magician have translated directly into tangible benefits in the courtroom because performing magic and trying cases both live at the intersection of psychology, storytel... (more story)
New Tactics In The Data Center Wars: Incentives, Moratoriums
A rising tide of public opposition and scrutiny of artificial intelligence has culminated in several states repealing tax incentives for data centers and one state enacting the nation's first moratorium, promp... (more story)
Title Co. Can't Keep Tax Refund, Wash. Panel Rules 2nd Time
A Washington appeals panel handed a win again to the state Department of Revenue, reversing a lower court order that the department owed an $11 million tax refund to a title insurance and settlement services company.
Minn. Tax Court Right On $108M Building Value, Justices Told
The Minnesota Tax Court operated within its discretion to give 80% weight to Hennepin County's appraisal of a Minneapolis office building and 20% to the owner's, the county told the state Supreme Court, urging... (more story)
A Connecticut municipal assessor did not have the authority to terminate a property tax break for forest use that was erroneously granted, the state Supreme Court said Friday, suggesting that state lawmakers c... (more story)
A Washington state initiative that would bar taxation of individual income and, in turn, repeal a recently approved high-earner tax has received enough signatures to appear on the November 2026 ballot, the Sec... (more story)
Two major rulings from the Pennsylvania Supreme Court have left it up to the Legislature to address "skill games" and second-degree murder sentences, while other pending bills would tackle a long-standing chal... (more story)
The skills I've developed as a lifelong magician have translated directly into tangible benefits in the courtroom because performing magic and trying cases both live at the intersection of psychology, storytel... (more story)
A rising tide of public opposition and scrutiny of artificial intelligence has culminated in several states repealing tax incentives for data centers and one state enacting the nation's first moratorium, promp... (more story)
A Washington appeals panel handed a win again to the state Department of Revenue, reversing a lower court order that the department owed an $11 million tax refund to a title insurance and settlement services company.
The Minnesota Tax Court operated within its discretion to give 80% weight to Hennepin County's appraisal of a Minneapolis office building and 20% to the owner's, the county told the state Supreme Court, urging... (more story)
International More
EU Launches Electricity Tax Plan To Spur Clean Fuel Shift
The European Union has unveiled an initiative that will require member states to tax electricity at a lower rate than natural gas to support the bloc's climate goals.
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen Snapchat and Dolby press on with a fresh infringement claim in their ongoing patent battle, The Telegraph face an intellectual property claim by a photo archive, a group of int... (more story)
German Court Convicts Former Banker In €320M Cum-Ex Case
A former banker at an Australian firm was convicted Thursday by a German court of attempting €320 million ($366 million) in tax evasion as part of a cum-ex dividend scandal, a court spokesperson told Law360.
USTR Broadens Exemptions Ahead Of 25% Brazil Tariff
A 25% tariff on Brazilian goods will begin next week with an expanded exemption list following public comments on the action, U.S. Trade Representative Jamieson Greer announced.
Belgian Energy Revenue Cap Is Lawful, EU Court Adviser Says
An adviser to the European Union's top court backed Belgium's application of a bloc-wide mechanism for capping revenue collected by certain energy companies, concluding Thursday that the levy didn't deviate fr... (more story)
HMRC Resists Port Co.'s Claim To Broader Tax Allowances
HM Revenue & Customs pushed back Thursday against Liverpool's port operator over its claims that the construction costs of a quay wall qualify for capital allowances, arguing before the Upper Tribunal that the... (more story)
Frozen Thresholds Drag 10M UK Pensioners Into Paying Tax
The number of U.K. pensioners paying income tax has risen by three million in the five years since earning thresholds were frozen, government figures have revealed.
The European Union has unveiled an initiative that will require member states to tax electricity at a lower rate than natural gas to support the bloc's climate goals.
The past week in London has seen Snapchat and Dolby press on with a fresh infringement claim in their ongoing patent battle, The Telegraph face an intellectual property claim by a photo archive, a group of int... (more story)
A former banker at an Australian firm was convicted Thursday by a German court of attempting €320 million ($366 million) in tax evasion as part of a cum-ex dividend scandal, a court spokesperson told Law360.
A 25% tariff on Brazilian goods will begin next week with an expanded exemption list following public comments on the action, U.S. Trade Representative Jamieson Greer announced.
An adviser to the European Union's top court backed Belgium's application of a bloc-wide mechanism for capping revenue collected by certain energy companies, concluding Thursday that the levy didn't deviate fr... (more story)
HM Revenue & Customs pushed back Thursday against Liverpool's port operator over its claims that the construction costs of a quay wall qualify for capital allowances, arguing before the Upper Tribunal that the... (more story)
The number of U.K. pensioners paying income tax has risen by three million in the five years since earning thresholds were frozen, government figures have revealed.