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State & Local Tax Takeaways From May
From a New York opinion on federal preemption of a state rule to an argument on income-producing activity in South Carolina and a New Hampshire dispute over capital loss carrybacks in a combined group, May was a busy month for state and local tax cases. Here, Law360 looks at these and other highlights from the past month.
Foreign Gov't Income Regs Aren't Retroactive, Treasury Says
The U.S. Treasury Department published guidance Friday clarifying that 2025 proposed rules regarding foreign sovereign wealth fund investment in the U.S. would not apply retroactively to the existing holdings of foreign governments.
Trump Ordered To Respond To Claims IRS Deal Was Fraud
President Donald Trump must respond to allegations made by a group of former federal judges that his settlement with the U.S. Department of Justice resolving his $10 billion suit against the Internal Revenue Service defrauded the court, the Florida federal judge who presided over the case said Friday.
State & Local Tax Takeaways From May
From a New York opinion on federal preemption of a state rule to an argument on income-producing activity in South Carolina and a New Hampshire dispute over capital loss carrybacks in a combined group, May was a busy month for state and local tax cases. Here, Law360 looks at these and other highlights from the past month.
Foreign Gov't Income Regs Aren't Retroactive, Treasury Says
The U.S. Treasury Department published guidance Friday clarifying that 2025 proposed rules regarding foreign sovereign wealth fund investment in the U.S. would not apply retroactively to the existing holdings of foreign governments.
Trump Ordered To Respond To Claims IRS Deal Was Fraud
President Donald Trump must respond to allegations made by a group of former federal judges that his settlement with the U.S. Department of Justice resolving his $10 billion suit against the Internal Revenue Service defrauded the court, the Florida federal judge who presided over the case said Friday.
Federal More
A Florida federal judge ordered the arrest of an expatriate U.S.-German citizen for failing to appear at a hearing to discuss civil sanctions over his failure to pay a nearly $20 million tax judgment for not d... (more story)
A political consultant convicted alongside ex-Florida Rep. David Rivera asked for a new trial Friday, arguing that the government "did not come close to proving" that she was guilty of willfully failing to reg... (more story)
The owner of a blood-testing laboratory was sentenced to more than four years in federal prison after evading $11.2 million in taxes by using an accomplice to illegally collect Medicare reimbursements made to ... (more story)
Battery energy storage systems have become essential infrastructure for data center development — but as trade, energy and tax policies continue to shift, companies operating in this space must understand the ... (more story)
The owner of a Florida renewable fuel company was sentenced to 18 months in prison followed by two years of supervised release for a scheme that generated more than $7 million in fraudulent fuel tax credits, t... (more story)
In this week's Taxation With Representation, Fertitta Entertainment acquires Caesars Entertainment, Eli Lilly and Co. buys three companies involved in vaccine development, and nuclear energy company Newcleo Lt... (more story)
The Delaware Chancery Court’s recent decision in Fortis Advisors v. Krafton to treat a CEO’s artificial intelligence chats as substantive evidence is being read as a discovery warning to litigators, but there ... (more story)
State & Local More
Ohio Justices Reject School Boards' Tax Appeal Claims
An Ohio law that bars school boards from appealing decisions involving valuations of properties they don't own or lease to the state Board of Tax Appeals doesn't allow them to bring those cases to county court... (more story)
Pa. Temporarily Drops Business Income Rule Proposal
A regulation that the Pennsylvania Department of Revenue proposed to outline what constitutes apportionable business income has been rescinded after years of concerns raised by stakeholders.
A Playground Of Unsound Tax Policy: SALT In Review
From the California governor's proposed taxing of software sales to a Minnesota bill that targets executive pay, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Philly Hotel Tax Proposal Reduced In Tentative Agreement
Philadelphia would increase its hotel tax rate by six-tenths of a percentage point, down from the originally proposed 2-percentage-point increase in the city's budget proposal, after a tentative agreement was ... (more story)
Tax Highlights From Georgia's 2026 Legislative Session
Georgia's two-year legislative cycle recently concluded with the enactment of several significant tax bills that reflect efforts to modernize tax policy in response to evolving economic priorities, and a broad... (more story)
Minn. Adds Property Tax Break, Adopts Federal Changes
Minnesota will conform with recent federal corporate tax changes, extend its workaround of the cap on deductions for state and local tax payments and provide property and vehicle tax breaks under an omnibus bi... (more story)
Studying Foreign Languages Makes Me A Better Lawyer
Studying Italian and Japanese has shown me that learning a new language can benefit a legal career in several ways, including by demonstrating the importance of approaching problems from a fresh perspective an... (more story)
An Ohio law that bars school boards from appealing decisions involving valuations of properties they don't own or lease to the state Board of Tax Appeals doesn't allow them to bring those cases to county court... (more story)
A regulation that the Pennsylvania Department of Revenue proposed to outline what constitutes apportionable business income has been rescinded after years of concerns raised by stakeholders.
From the California governor's proposed taxing of software sales to a Minnesota bill that targets executive pay, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Philadelphia would increase its hotel tax rate by six-tenths of a percentage point, down from the originally proposed 2-percentage-point increase in the city's budget proposal, after a tentative agreement was ... (more story)
Georgia's two-year legislative cycle recently concluded with the enactment of several significant tax bills that reflect efforts to modernize tax policy in response to evolving economic priorities, and a broad... (more story)
Minnesota will conform with recent federal corporate tax changes, extend its workaround of the cap on deductions for state and local tax payments and provide property and vehicle tax breaks under an omnibus bi... (more story)
Studying Italian and Japanese has shown me that learning a new language can benefit a legal career in several ways, including by demonstrating the importance of approaching problems from a fresh perspective an... (more story)
International More
UK Farmers Call For Carbon Tax Break Despite Gov't Denials
A farmers group issued a call Friday for a carbon tax exemption on fertilizer, while the U.K.'s Labour government denied reports that it's holding talks on such a concession on the carbon border regime.
New Zealand Aims To Loosen Tax Rules On Offshore Shares
New Zealand's government aims to loosen tax rules on offshore equity holdings, issue quarterly payments for research and development tax credits, introduce a levy on banks to cover regulatory costs and tighten... (more story)
States Say Fed. Circ. Should Keep Tariff Block During Appeal
The Federal Circuit shouldn't stay an injunction blocking the collection of Section 122 tariffs from two businesses and Washington state while the federal government appeals the trade court ruling because the ... (more story)
HMRC Got £6.3B In Small-Biz, Individual Probes, Data Shows
Britain's tax authority recovered £6.3 billion ($8.4 billion) in extra tax from investigations into small businesses and individuals in 2025, up by around £1 billion in a year, according to data released by an... (more story)
EU Withholds Some Funds From Malta Over Tax Reform Delay
The European Union is holding back €38.17 million ($44.49 million) in support funds for Malta as the Mediterranean archipelago has not yet implemented a reform tackling aggressive tax planning practices, the E... (more story)
IRS Asked To Quickly Release Fuel Credit Emissions Model
Energy companies and farm representatives urged the IRS on Wednesday to expedite the release of an updated greenhouse gas emissions model reflecting the 2025 budget law's changes, saying the guidance is needed... (more story)
Court Orders CBP Commish To Testify In Tariff Refund Suit
The U.S. Court of International Trade requested that U.S. Customs and Border Protection Commissioner Rodney S. Scott appear during a hearing scheduled for early next month to discuss the agency's plans for ref... (more story)
A farmers group issued a call Friday for a carbon tax exemption on fertilizer, while the U.K.'s Labour government denied reports that it's holding talks on such a concession on the carbon border regime.
New Zealand's government aims to loosen tax rules on offshore equity holdings, issue quarterly payments for research and development tax credits, introduce a levy on banks to cover regulatory costs and tighten... (more story)
The Federal Circuit shouldn't stay an injunction blocking the collection of Section 122 tariffs from two businesses and Washington state while the federal government appeals the trade court ruling because the ... (more story)
Britain's tax authority recovered £6.3 billion ($8.4 billion) in extra tax from investigations into small businesses and individuals in 2025, up by around £1 billion in a year, according to data released by an... (more story)
The European Union is holding back €38.17 million ($44.49 million) in support funds for Malta as the Mediterranean archipelago has not yet implemented a reform tackling aggressive tax planning practices, the E... (more story)
Energy companies and farm representatives urged the IRS on Wednesday to expedite the release of an updated greenhouse gas emissions model reflecting the 2025 budget law's changes, saying the guidance is needed... (more story)
The U.S. Court of International Trade requested that U.S. Customs and Border Protection Commissioner Rodney S. Scott appear during a hearing scheduled for early next month to discuss the agency's plans for ref... (more story)