State & Local
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April 16, 2024
NY Budget Deal Revives 421a Credit In Housing Supply Push
New York Gov. Kathy Hochul said state lawmakers have agreed to the terms of a state budget reviving an expired affordable housing tax credit, backing office-to-residential conversions and taking other steps to combat New York City's housing affordability crisis.
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April 16, 2024
Va. Gov. Youngkin Appoints Atty As State Tax Commissioner
Virginia's newly appointed tax commissioner is an attorney who previously worked for the U.S. Treasury Department, Republican Gov. Glenn Youngkin has announced.
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April 16, 2024
Iowa Lawmakers OK Two-Thirds Approval For Tax Bills
Iowa would require corporate or income tax increases or the creation of new taxes on income to be passed with a two-thirds legislative vote under a proposed constitutional amendment sent to the governor for approval.
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April 16, 2024
Maine Updates State Tax Law Conformity To Federal Code
Maine conformed state tax law to the Internal Revenue Code as amended through Dec. 31, 2023, under a bill signed by the governor.
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April 16, 2024
Kansas Tax Omnibus, Income Rate Changes Head To Gov.
Kansas would alter its income tax brackets, decrease its bank privilege tax, exempt the first $100,000 of a residential property's appraised value and exempt Social Security income from tax under a bill sent to the governor.
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April 16, 2024
BigLaw Attys Among First 7 Jurors Picked In Trump's NY Trial
Two BigLaw attorneys on Tuesday were among seven people sworn in as jurors in Donald Trump's Manhattan hush money trial, which could proceed to opening statements as soon as Monday.
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April 16, 2024
Ind. Property Owner Denied Tax Break For Charities
The owner of an Indiana building was correctly denied a property tax exemption as his application for the tax break was filed late and he failed to show the building was used for a charitable purpose, the state Board of Tax Review said.
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April 16, 2024
Pa. House OKs Tax-Free Rollovers From Education Savings
Pennsylvania would provide for tax-free rollovers from eligible tax-advantaged education savings accounts to some individual retirement accounts under a bill passed by the state House of Representatives.
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April 15, 2024
Ind. Tax Board Hikes Home Value Based On Purchase Price
The Indiana Board of Tax Review increased the valuation of a couple's home based on its purchase price after finding that a sales comparison analysis by the property owners was insufficient to justify a lower value.
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April 15, 2024
Neb. Revenue Collection Climbs To $311M Over Estimates
Nebraska general fund receipts for July through March were $311 million, or 5.8%, more than a budget projection, according to a monthly report by the state Department of Revenue published Monday.
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April 15, 2024
Detroit Fire Safety 'Tax' Case Heads To Mich. Justices
The Michigan Supreme Court will hear a challenge to Detroit's fire safety inspection fees, taking up an appeal from a pipe fitter's proposed class action alleging that the charges amounted to unlawful taxes.
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April 15, 2024
Wis. Gov. Picks Department Of Revenue Secretary
A new secretary of the Wisconsin Department of Revenue has been appointed by the governor and will begin April 29, the governor announced in a news release Monday.
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April 15, 2024
9th Circ. To Hear Hunter Biden Appeal In Criminal Tax Case
The Ninth Circuit will hear Hunter Biden's argument that a California federal judge wrongly rejected requests by his defense team to toss a criminal tax case that Biden has claimed is politically motivated and vindictive, according to a notice filed Monday.
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April 15, 2024
Okla. Revenue Through March Beats Estimate By $249M
Oklahoma collected $249 million more in general revenue from July through March than was predicted in a budget estimate, according to data published by the state Office of Management and Enterprise Services.
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April 15, 2024
Ga. General Fund Receipts Through March Down $116M
Georgia general fund receipts from July through March were down $116 million from the same period last fiscal year, the state's Department of Revenue reported.
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April 15, 2024
Stressed About The Trump Trial? Imagine How The Attys Feel
A trial-of-the-century moment like Donald Trump's New York criminal case heaps singular attention and pressure on the lawyers involved — and a commensurate need for smart stress relief tactics during months of prep, lawyers who have taken on landmark cases say.
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April 15, 2024
Trump Accused Of Witness Threats As Jury Selection Begins
The Manhattan district attorney's office on Monday asked the judge overseeing Donald Trump's hush money trial to find Trump in contempt for flouting the court's gag order barring witness intimidation, on day one of jury selection in the first criminal trial of a former U.S. president.
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April 12, 2024
Trump Can't Derail Hush Money Trial Over Media Saturation
A New York judge overseeing Donald Trump's hush money case on Friday rejected another of the former president's bids to derail trial next week, waving off his complaints that prejudicial media coverage has tainted the jury pool.
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April 12, 2024
NJ Gives Counties Power To Up Tax After Paying Off Debt
New Jersey will allow counties greater authority to impose property taxes after retiring debts under a bill signed into law by Democratic Gov. Phil Murphy.
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April 12, 2024
NJ Tax Court Awards Refunds To Web-Based Services Co.
The New Jersey Tax Court on Friday awarded a web-based services company more than a half a million dollars in refunds, saying the company's use of market-based sourcing to compute the numerator of its state receipts fraction was valid.
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April 12, 2024
Ohio March Revenue Falls 9.6% Below Estimates
Ohio general revenue for March was $171 million, or 9.6%, below estimates, the state Office of Budget and Management reported, attributing the change to large income tax refunds.
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April 12, 2024
Miss. Justices Told Gas Co.'s Freight Charges Subject To Tax
A natural gas transportation company operating in Mississippi was required to pay use tax on freight charges paid to a third party when it purchased items, the state Department of Revenue told the state's high court.
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April 12, 2024
State Tax Positions On Internet Activities Face Key Test In NY
Litigation challenging a New York regulation outlining when certain online activities by out-of-state businesses exceed a 1950s-era federal statute's protections against state income taxes could clarify how much latitude states have to interpret the law for the modern economy.
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April 12, 2024
Trump Trial's Anonymous Jury Signals Sacrifice Of Service
As jury selection begins Monday in the criminal trial of former president Donald Trump, the panel's identities will remain shielded from the public and the media. So-called anonymous juries are relatively new and rare, but they're being used more and more for high-profile cases in an age of doxxing and political polarization.
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April 12, 2024
La. Board Says Private Foundation Buildings Are Tax-Exempt
The Louisiana tax appeals board ruled that four buildings owned by a private foundation and leased to commercial tenants are exempt from property tax, as they support research opportunities at the University of New Orleans.
Expert Analysis
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Kentucky Tax Talk: Speeding Up Public Service Co. Protests
Public service companies with Kentucky tax liability should consider the recent groundbreaking changes to the state’s protest procedures, particularly if they have protests pending that might be expedited in light of the new legislation, say attorneys at Frost Brown.
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Notes On Social Equity From A Former Cannabis Regulator
Duane Morris’ Matthew McCarthy, former lead prosecutor in regulatory enforcement actions at the Maryland Medical Cannabis Commission, shares observations on the multifaceted efforts by government and the cannabis business community to build a more equitable industry and foster diverse ownership, highlighting the role of data reporting and community outreach.
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Watching The Legal Sports Betting Ecosystem Take Shape
The number of U.S. states getting in on the recently legalized $4.29 billion sports-betting industry is on the rise, and stakeholders must be aware that the regulatory scheme looks dramatically different from state to state, say James Johnston and Louis DiLorenzo at Davis+Gilbert.
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How To Address Research Expenditures Amid Uncertainty
Taxpayers need to prepare for the significant technical and compliance challenges of following Internal Revenue Code Section 174's new rules for experimentation expenditure capitalization and amortization, notwithstanding the rules' unresolved legislative future, say tax advisers at Grant Thornton.
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Advising A Cannabis Business Amid Patchwork Of Regs
Excerpt from Practical Guidance
As the cannabis industry continues to grow, so does its widely varied patchwork of local, state and federal regulation, and practitioners should familiarize themselves with the specific rules on tax, real estate, intellectual property and banking applicable in the jurisdictions where their clients operate, say Patrick Hines and Fallon Martin at Hodgson Russ.
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Is NJ's Voluntary Transfer Pricing Initiative Really Voluntary?
The New Jersey Division of Taxation's voluntary transfer pricing audit initiative promises penalty abatement to taxpayers that elect to participate and agree to the division's proposed adjustments, but the effective penalties associated with nonparticipation raise questions about the program's voluntary nature, say attorneys at McDermott.
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Boardroom Lessons From Shareholders' Diversity Lawsuits
Corporate efforts to promote diversity, equity and inclusion in the workplace are gaining momentum, and shareholder derivative lawsuits offer important lessons on how boards may protect themselves while fostering diverse workforces and safeguarding company goodwill, say attorneys at Covington.
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Mass. Bills Will Have Broad Impact On Cannabis Industry
Legislation recently passed by both chambers of the Massachusetts Legislature will make sweeping changes to the commonwealth’s cannabis industry, altering everything from municipal agreements to on-site consumption, and improving social equity while reducing businesses' tax burdens, says Cloe Pippin at Foley Hoag.
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Critiques Of NY Tax Whistleblower Bill Are Untenable
Amending the New York False Claims Act to allow whistleblower actions against those who fail to file tax returns will combat invisible fraud and return stolen revenue to the state, and recent objections that the pending bill to do this would dangerously expand the act do not pass muster, say Neil Getnick and Courtney Finerty-Stelzner at Getnick & Getnick.
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Ohio Tax Talk: Unpacking The New Property Tax Procedures
New procedures for challenging real property tax valuations in Ohio may reduce tax revenue for political subdivisions and school districts, but are also likely to help boost development in the state and streamline its real estate tax, say Yazan Ashrawi and Raghav Agnihotri at Frost Brown.
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Calif. Supermajority Ruling May Change Local Tax Landscape
The California Supreme Court's 2017 decision in California Cannabis Coalition v. City of Upland, which provided an easy path to pass special taxes while avoiding the Constitution's supermajority voting requirements, may lead to a rise in taxes that benefit specific populations, as more special tax initiatives are introduced at a local level, say Timothy Gustafson and John Ormonde at Eversheds Sutherland.
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Kentucky Tax Talk: Unpacking The 2022 Legislative Session
Individual Kentuckians will feel the changes made this legislative session as cuts to state income tax increase their net pay, while new sales taxes make many purchases more expensive, a change unlikely to help or hurt most Kentucky businesses, say attorneys at Frost Brown.
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Crypto Investors May Face Increasing State FCA Tax Liability
Cryptocurrency investors who fail to report the state tax consequences of transactions are poised to encounter increased civil or criminal legal exposure as a growing number of states bring tax fraud under the purview of their whistleblower statutes, say attorneys at Brownstein Hyatt.