State & Local

Expert Analysis

• Digital Taxation Is Necessary, But Tough To Manage

  

  The U.S. government has started to tackle complex new tax laws as the digital economy continues to grow, but this demands guidelines that will facilitate the growth while protecting investors and the government's finances, say attorneys at Cadwalader.

• Whistleblowers Will Be Key To Curbing Cannabis Fraud In NY

  

  As New York begins accepting license applications for its legal marijuana market, qui tam suits brought by whistleblowers under the New York False Claims Act will be a valuable tool for safeguarding the integrity of the developing industry, especially with regard to combating tax fraud, say Max Rodriguez and Sidney Cobb at Pollock Cohen.

• Tax Cuts Proposed In Fla., Vetoed In Calif.: SALT In Review

  

  From Florida's proposed $1.1 billion in tax cuts to the California governor's veto of a business exemption, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.

• On And Off The Books: SALT In Review

  

  From a ruling in South Carolina on the taxing of a bookseller's membership club sales to Louisiana's consideration of repealing its income taxes, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.

• Third-Party Sellers And A Redistribution Tax: SALT In Review

  

  From a Pennsylvania ruling on third-party sellers to an Oregon proposal that would tax businesses and give the money to citizens, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.

• 3rd Time May Be The Charm For Florida Cannabis Legalization

  

  After two unsuccessful attempts at legalizing adult-use cannabis in Florida, strong electoral support combined with significant financial backing for a recently approved constitutional ballot initiative may finally result in success, say Ashlee Tising and Jonathan Robbins at Akerman.

• What AML Bill Could Mean For Firms, Funds And FinCEN

  

  If passed, an amendment within Congress’ annual defense bill would expand the list of institutions subject to anti-money laundering regulations, from law firms to investment funds, creating potential rulemaking and enforcement challenges for the Financial Crimes Enforcement Network, say attorneys at Arnold & Porter.

• Kentucky Tax Talk: What's Next For Bourbon Barrel Revenue

  

  By creating the Bourbon Barrel Taxation Task Force to help Kentucky regain a competitive edge in the state’s signature industry, the General Assembly has recognized the need to lessen the burden on distillers without causing detrimental harm to local revenue, say attorneys at Frost Brown.

• Tax Credits For Empty Garages In Calif.: SALT In Review

  

  RSM's David Brunori offers his thoughts on noteworthy state and local tax news, starting with California's planned tax credits for households without cars.

• CORRECTED: New Tax Credits For Renewables Should Offer Investors Relief

  

  The Inflation Reduction Act's changes to tax credits for renewable energy projects should finally liberate tax equity investors from the restraints of the complex and onerous federal anti-abuse regime, says Kay Hobart at Parker Poe. Correction: Because of an editing error, a previous version of this article incorrectly characterized tax enforcement regimes in North Carolina and other states. This error has been corrected.

• P.L. 86-272 And Tax Cuts Here And There: SALT In Review

  

  From California's interpretation of P.L. 86-272 to calls for tax cuts in Idaho and North Dakota, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.

• Unpacking The New Stock Buyback Tax And Its Exceptions

  

  Xenia Garofalo and Kyle Colonna at Eversheds Sutherland discuss provisions of the recently enacted tax on corporate stock repurchases, how its exceptions may be applied and what companies should consider when evaluating the cost of new or existing programs.

• Mass. Retroactivity, Still, And Calif. Gases: SALT In Review

  

  From Massachusetts' continuing pursuit of a retroactive tax to a California proposal to fight greenhouse gas emissions at the expense of the wealthy, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.