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11th Circ. Judges Question Coke's View Of IRS As Arbitrary
Judges for the Eleventh Circuit probed attorneys for Coca-Cola and the government Thursday about whether the IRS was arbitrary in abandoning its position in a closing agreement the beverage company had relied on for decades to calculate its transfer prices with related foreign suppliers.
Ky. Justices Say City Groups Can't Pursue Airbnb Taxes
An organization that represents several municipalities in Kentucky doesn't have standing to seek a declaratory judgment that Airbnb is subject to local transient room taxes, the state Supreme Court said Thursday, reversing a lower court.
Uber Fights Ohio Receipts Tax On Captive Insurer Premiums
Uber asked the Ohio Board of Tax Appeals to exclude a captive insurer's premiums from the ride-hailing company's gross receipts that are subject to Ohio tax, arguing state law bars the premiums from being included in its tax base.
11th Circ. Judges Question Coke's View Of IRS As Arbitrary
Judges for the Eleventh Circuit probed attorneys for Coca-Cola and the government Thursday about whether the IRS was arbitrary in abandoning its position in a closing agreement the beverage company had relied on for decades to calculate its transfer prices with related foreign suppliers.
Ky. Justices Say City Groups Can't Pursue Airbnb Taxes
An organization that represents several municipalities in Kentucky doesn't have standing to seek a declaratory judgment that Airbnb is subject to local transient room taxes, the state Supreme Court said Thursday, reversing a lower court.
Uber Fights Ohio Receipts Tax On Captive Insurer Premiums
Uber asked the Ohio Board of Tax Appeals to exclude a captive insurer's premiums from the ride-hailing company's gross receipts that are subject to Ohio tax, arguing state law bars the premiums from being included in its tax base.
Federal More
Convicted SCOTUSblog founder Tom Goldstein and federal prosecutors are clashing again over their dramatically divergent sentencing recommendations, with the defense accusing the government of presenting a "one... (more story)
A North Carolina woman who owned a tax return preparation business will be ordered to pay just under $13.9 million after she pled guilty to conspiring to prepare false tax returns, according to a press release... (more story)
A clinic manager who paid patients in gift cards is challenging her six-year prison sentence, telling the Fourth Circuit on Thursday that a federal judge failed to consider other mitigating factors when senten... (more story)
A Delaware bankruptcy judge said Thursday he will confirm Spanish-language radio station operator Spanish Broadcasting System's Chapter 11 plan once he gets the final draft of its plan documents, largely overr... (more story)
The IRS is "embracing" artificial intelligence to help with taxpayer compliance, such as using the technology to detect patterns and identify fraud, while at the same time working with guardrails to protect pr... (more story)
The European Union granted final approval Thursday to its modified version of a trade deal with the U.S. that will cut tariff rates on U.S. goods, albeit with guardrails.
The U.S. Tax Court will launch a law school outreach initiative this year in which the court will hold a session at a school to strengthen engagement with taxpayers and help cultivate future tax professionals,... (more story)
State & Local More
A Tax Costly To Everyone, Sooner Or Later: SALT In Review
From Pennsylvania's move toward a gross receipts tax on digital advertisers to news of yet another Fortune 500 company leaving New Jersey, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
MTC Broadcast Rule Updates Draw No Public Input At Hearing
A Multistate Tax Commission proposal to update the intergovernmental agency's broadcasting regulation to address sourcing of revenue from streaming and internet content didn't draw any comments from the public... (more story)
Mass. Gov. Pauses New Data Center Sales Tax Breaks
Massachusetts will pause new applications for the state's sales tax exemption for data centers, Gov. Maura Healey announced Thursday, releasing a framework for energy, water and economic considerations around ... (more story)
Mich. Panel Says Detroit Schools Can't Use Tax For Bond Debt
The Detroit Public Schools Community District and its predecessor have lost a bid to continue collecting an operating tax after an emergency loan is paid off, with an appellate court panel finding state law do... (more story)
Kentucky Is Latest State To Catch CFTC Prediction Market Suit
The Commodity Futures Trading Commission has hit back against Kentucky regulators with a suit defending its jurisdiction over event contracts, after the state brought enforcement actions against several predic... (more story)
Kalshi Sues Ill. Officials Over Sports Event Contracts Law
Kalshi sued Illinois Gov. J.B. Pritzker and other top state officials in Illinois federal court Tuesday to block the enforcement of a new law that requires prediction-market exchanges offering sports event con... (more story)
Colo. Transportation Funding Shift Qualifies For Ballot
A Colorado proposal to shift hundreds of billions of dollars in state funds toward road and highway projects has received the signatures required to appear on the November statewide ballot, election officials said.
From Pennsylvania's move toward a gross receipts tax on digital advertisers to news of yet another Fortune 500 company leaving New Jersey, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
A Multistate Tax Commission proposal to update the intergovernmental agency's broadcasting regulation to address sourcing of revenue from streaming and internet content didn't draw any comments from the public... (more story)
Massachusetts will pause new applications for the state's sales tax exemption for data centers, Gov. Maura Healey announced Thursday, releasing a framework for energy, water and economic considerations around ... (more story)
The Detroit Public Schools Community District and its predecessor have lost a bid to continue collecting an operating tax after an emergency loan is paid off, with an appellate court panel finding state law do... (more story)
The Commodity Futures Trading Commission has hit back against Kentucky regulators with a suit defending its jurisdiction over event contracts, after the state brought enforcement actions against several predic... (more story)
Kalshi sued Illinois Gov. J.B. Pritzker and other top state officials in Illinois federal court Tuesday to block the enforcement of a new law that requires prediction-market exchanges offering sports event con... (more story)
A Colorado proposal to shift hundreds of billions of dollars in state funds toward road and highway projects has received the signatures required to appear on the November statewide ballot, election officials said.
International More
Irish Watchdog Backs Infrastructure Boost To Stem Tax Flight
Ireland can encourage foreign-owned multinationals to keep their activities in the country by improving its infrastructure, thereby sheltering tax receipts, an economist at Ireland's independent fiscal watchdog said Friday.
Burnham Adviser Says He Should Steer Clear Of Wealth Tax
Labour leadership contender Andy Burnham should not support wealth taxes, including a hike in the capital gains tax, because such measures don't raise a significant amount of money, one of his advisers said.
Trade Group Calls For Pension Tax Breaks Tied To Investment
Members of pension plans should receive billions of pounds in government tax relief only if more of their retirement savings are invested in U.K. companies to revive economic growth, a trade group has said.
Gibraltar Tax Probe Can't Be Challenged Yet, EU Adviser Says
A baby formula manufacturer cannot yet challenge a European Commission investigation into whether Gibraltar's government granted the business illegal tax advantages, a senior adviser at the European Court of J... (more story)
Footwear Brand Owner Asks To Abate $378K Tax Penalty
The Canadian owner of a footwear brand asked a Nevada federal court to abate a $378,000 penalty for failing to pay employment taxes, arguing that he was prevented from paying by a since-delicensed lender withh... (more story)
UK Gov't Plans 22% Charge On Stock Interest Held In ISAs
The Labour government is planning a 22% charge on interest gained on stocks and shares in individual savings accounts as part of overhauling rules for these tax-free saving options widely used to save for buyi... (more story)
White & Case, Laytons Sued For £2M Over Flawed Tax Advice
A lettings agency has accused White & Case and Laytons of causing it more than £2.6 million ($3.4 million) in tax liabilities after the law firms allegedly failed to identify that an offshore trust structure w... (more story)
Ireland can encourage foreign-owned multinationals to keep their activities in the country by improving its infrastructure, thereby sheltering tax receipts, an economist at Ireland's independent fiscal watchdog said Friday.
Labour leadership contender Andy Burnham should not support wealth taxes, including a hike in the capital gains tax, because such measures don't raise a significant amount of money, one of his advisers said.
Members of pension plans should receive billions of pounds in government tax relief only if more of their retirement savings are invested in U.K. companies to revive economic growth, a trade group has said.
A baby formula manufacturer cannot yet challenge a European Commission investigation into whether Gibraltar's government granted the business illegal tax advantages, a senior adviser at the European Court of J... (more story)
The Canadian owner of a footwear brand asked a Nevada federal court to abate a $378,000 penalty for failing to pay employment taxes, arguing that he was prevented from paying by a since-delicensed lender withh... (more story)
The Labour government is planning a 22% charge on interest gained on stocks and shares in individual savings accounts as part of overhauling rules for these tax-free saving options widely used to save for buyi... (more story)
A lettings agency has accused White & Case and Laytons of causing it more than £2.6 million ($3.4 million) in tax liabilities after the law firms allegedly failed to identify that an offshore trust structure w... (more story)