State & Local
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May 16, 2024
Pact's Biz Group Drops W.Va. Streaming Tax Compliance Fight
The Streamlined Sales Tax Governing Board's business group on Thursday dropped its allegations that West Virginia's tax on streaming services threw it out of compliance with the interstate tax simplification compact that the board oversees.
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May 16, 2024
NJ Lets Some School Districts Hike Property Taxes Above Cap
New Jersey will allow school districts that experienced cuts in state school aid to request increases in local property tax levies above previously permitted amounts without voter approval under a bill signed by Gov. Phil Murphy.
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May 16, 2024
Calif. Digital Tax Clears Key Hurdle, Will Go To Full Senate
A bill calling for California to levy its 7.25% state sales and use tax on large online companies with digital advertising revenue above $2.5 billion passed a key Senate committee Thursday and will go to the full state Senate.
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May 16, 2024
Tax Pact Votes Down Nexus Recommendation For Gross Sales
A proposed recommendation from the Streamlined Sales Tax Governing Board for states to use gross sales to measure whether a remote seller crossed a state's economic nexus threshold fell two votes shy of final approval Thursday.
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May 16, 2024
Colo. To Charge Oil, Gas Fees Based On Spot Prices
Colorado will levy new fees on oil and gas producers based on the spot price of a barrel of oil or natural gas under legislation signed into law Thursday by Gov. Jared Polis.
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May 16, 2024
CBRE Biz's Software Liable For NY Sales Tax, Judge Rules
A facilities management business owned by CBRE is liable for New York sales tax on its bundled services, which included sales of prewritten software, an administrative law judge said in a determination released Thursday.
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May 16, 2024
Iowa To Give Tax Break For Gains From Livestock Sales
Iowa taxpayers that make more than half of their income from farming will be able to exclude the capital gains from sales of cattle or horses from income under a bill signed by the governor.
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May 16, 2024
Ohio House Panel OKs Sales Tax Change For Delivery Cos.
Companies that deliver goods in Ohio would be able to obtain a waiver to opt out of being considered a seller in order to avoid double taxation under a bill approved by the state House Ways and Means Committee.
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May 16, 2024
BCLP Sues St. Louis Over City Taxes On Partners' Income
Bryan Cave Leighton Paisner LLP is suing St. Louis, Missouri, after the Midwestern city accused the firm of being delinquent on nearly $275,000 in earnings taxes, contending the municipality unlawfully taxed partners who don't live in the city, according to its court filing.
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May 16, 2024
Okla. Revenue Through April Beat Estimates By $285M
Oklahoma's general revenue collection from July through April exceeded budget forecasts by $285 million, according to a monthly report by the state Office of Management and Enterprise Services.
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May 16, 2024
Miss. Revenue Collection Through April Up $51M
Mississippi revenue collection from July through April was up $51 million from last fiscal year, according to a monthly report by the state Department of Revenue.
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May 16, 2024
Biden Admin Proposes To Loosen Restrictions On Marijuana
President Joe Biden on Thursday announced that his administration has formally recommended relaxing restrictions on marijuana, marking the most significant federal policy shift on cannabis since the drug was criminalized more than 50 years ago.
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May 15, 2024
State Digital Goods Sourcing Proposal Clears Early Hurdle
States could apply the highest, lowest or a blended state and local tax rate inside a five-digit ZIP code area to sales of digital goods when buyers aren't required to provide their full address under a proposal given preliminary approval Wednesday by the Streamlined Sales Tax Governing Board.
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May 15, 2024
Minn. Tax Court OKs Trim To Restaurant Property's Value
A Minnesota restaurant property should have its valuation lowered after the property owner provided a more reliable appraisal report, the state Tax Court ruled.
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May 15, 2024
Md. Tax Court Affirms Denial Of Credit For Townhouses
A Maryland real estate developer was correctly denied a tax credit for townhouses built in Baltimore, as the credit is limited to certain multifamily buildings, the state tax court ruled.
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May 15, 2024
Colo. Will Extend Property Tax Assessment Rate Cuts
Colorado will extend its current temporary property tax rate reductions into 2024 and will lower tax rates for future years under a bill signed by Democratic Gov. Jared Polis.
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May 15, 2024
Pardoned NJ Atty Suspended Over Tax, Fraud Convictions
A former Gilmore & Monahan PA partner — who was convicted of failing to pay payroll taxes and lying on a loan application, and was pardoned by then-President Donald Trump — has received a two-year suspension from practicing law in New Jersey, though it will be largely offset by a previous suspension he served, according to a Wednesday order.
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May 15, 2024
RI Tax Division Says Biz Flouted Deal, Owes Full Sales Tax
A Rhode Island business breached the terms of a settlement agreement with the state's Division of Taxation over unpaid sales and use tax, making it liable to pay the full amount rather than the reduced sum, an administrative hearing officer said.
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May 15, 2024
Ariz. Court Sides With Solar Farm On Tax Credits In Valuation
Arizona's tax department wrongly excluded deferred investment credits from the calculation of a solar energy facility's property valuation, a state appeals court ruled, saying the credits should be considered by the department at the time they are claimed.
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May 15, 2024
Colo. To Conform To MTC Standards For Corp. Tax Reporting
Colorado will conform its method for determining the makeup of a combined corporate group with Multistate Tax Commission standards under legislation signed by Democratic Gov. Jared Polis.
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May 15, 2024
Ala. Tribunal Says Ally Financial Units Can't File As Group
Ally Financial and its subsidiaries did not meet the requirements to file a consolidated return and are therefore not eligible for a refund of excise tax or adjustments to net operating losses and final assessments, the Alabama Tax Tribunal ruled.
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May 15, 2024
Colo. Cuts 2024 Income Tax Rate, Changes Refund Method
Colorado will temporarily lower its flat income tax rate and could reduce the rate in future years if certain revenue surpluses are reached under legislation signed into law by Gov. Jared Polis.
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May 15, 2024
Ill. Revenues Beat Budget Forecasts By $388M
Illinois' total general fund revenue for July through April exceeded budget projections by $388 million, the state Office of Management and Budget reported.
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May 15, 2024
Neb. Net Receipts Through April Beat Forecasts By $139M
Nebraska's net receipts from July through April were $139 million higher than projections, according to a monthly report by the state Department of Revenue published Wednesday.
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May 15, 2024
Conn. Net Revenue Through April Up $618M From Last Year
Connecticut's net revenue from July through April was $618 million ahead of last year, according to a monthly report by the state Department of Revenue Services.
Expert Analysis
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5 Litigation Funding Trends To Note In 2024
Over the next year and beyond, litigation funding will continue to evolve in ways that affect attorneys and the larger litigation landscape, from the growth of a secondary market for funded claims, to rising interest rates restricting the availability of capital, says Jeffery Lula at GLS Capital.
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4 Legal Ethics Considerations For The New Year
As attorneys and clients reset for a new year, now is a good time to take a step back and review some core ethical issues that attorneys should keep front of mind in 2024, including approaching generative artificial intelligence with caution and care, and avoiding pitfalls in outside counsel guidelines, say attorneys at HWG.
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What The Law Firm Of The Future Will Look Like
As the legal landscape shifts, it’s become increasingly clear that the BigLaw business model must adapt in four key ways to remain viable, from fostering workplace flexibility to embracing technology, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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4 PR Pointers When Your Case Is In The News
Media coverage of new lawsuits exploded last year, demonstrating why defense attorneys should devise a public relations plan that complements their legal strategy, incorporating several objectives to balance ethical obligations and advocacy, say Nathan Burchfiel at Pinkston and Ryan June at Castañeda + Heidelman.
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10 Considerations For Litigating A New York Tax Case
While some of New York’s recently adopted corporate tax regulations are likely to face legal challenges, aggrieved taxpayers should answer certain questions before deciding to embark on the tax litigation process, say Cyavash Ahmadi and Jeffrey Friedman at Eversheds Sutherland.
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Revenue Agencies At Their Finest: SALT In Review
From a survey of the nation's best departments of revenue to baseball superstar Shohei Ohtani's creative free-agent contract, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Law Firm Strategies For Successfully Navigating 2024 Trends
Though law firms face the dual challenge of external and internal pressures as they enter 2024, firms willing to pivot will be able to stand out by adapting to stakeholder needs and reimagining their infrastructure, says Shireen Hilal at Maior Consultants.
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Attorneys' Busiest Times Can Be Business Opportunities
Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.
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How Attorneys Can Be More Efficient This Holiday Season
Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.
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5 Trends To Watch In Property And Casualty Class Actions
In 2023, class action decisions have altered the landscape for five major types of claims affecting property and casualty insurers — total loss vehicle valuation, labor depreciation, other structural loss estimating theories, total loss vehicle tax and regulatory fees, and New Mexico's uninsured and underinsured motorist coverage sale requirements, say Mark Johnson and Mathew Drocton at BakerHostetler.
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A Bold Idea And A Striking Disregard: SALT In Review
From a far-reaching proposal in Nebraska to a Minnesota government agency's disregard of case law, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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5 Traps To Avoid When Selling CRE In Las Vegas Area
When dealing with commercial real estate in Clark County, Nevada — which includes the Las Vegas metro area — even sophisticated sellers may be ensnared by a myriad of tricky issues, ranging from transfer tax nuances to arbitration laws, says Chris Walther at Fennemore Craig.
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How Clients May Use AI To Monitor Attorneys
Excerpt from Practical Guidance
Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.