State & Local
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April 19, 2024
Va. General Revenue Collection Through March Grew $1.2B
Virginia general fund revenue collection in July through March was up roughly $1.2 billion from the same period in the previous fiscal year, according to a report from the Department of Accounts.
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April 19, 2024
Calif. Revenues Through March Down $5.6B From Estimates
California's total receipts from July through March were $5.6 billion lower than expected in the governor's 2024-25 budget, according to the monthly report by the state controller.
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April 19, 2024
NY Lawmakers Approve Overhauling Cannabis Tax System
New York is slated to scrap its potency-based tax system for adult-use cannabis and replace it with a more streamlined wholesale tax structure in June under a budget-related bill approved by state lawmakers.
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April 19, 2024
Mo. House OKs Sales Tax Exemption For Nuclear Facility
Missouri would give a sales tax exemption for the purchases of tangible personal property used to build a nuclear facility located in Kansas City under a bill passed in the House of Representatives.
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April 19, 2024
NY Tax Dept. Says Collections Through March Tumble $6B
New York tax collections from April 2023 through March fell $6 billion compared to the previous period, according to a report from the state Department of Taxation and Finance.
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April 19, 2024
Trump's Trial Is Unprecedented. Attys On Juries? Not So Much
With two BigLaw attorneys tapped for the jury box in Donald Trump's first-in-history criminal case, Law360 spoke to trial vets who said their own experience in this tables-turned situation shows lawyers can make for highly engaged jurors under the right circumstances.
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April 19, 2024
Polsinelli Adds Shareholder To Tax Credit Practice In Dallas
An attorney who spent more than a decade developing a niche practice specializing in tax credit financing has moved her practice to Polsinelli PC's Dallas office after five years at Munsch Hardt Kopf & Harr PC.
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April 19, 2024
The Week In Trump: NY Trial And A High Court Date Loom
Despite a few snags, jury selection for Donald Trump's hush money trial in Manhattan unfolded relatively quickly, clearing the way for opening statements Monday in the historic case as the former president prepped for a U.S. Supreme Court debate over his supposed immunity.
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April 19, 2024
Taxation With Representation: Kirkland, Cleary, O'Melveny
In this week's Taxation With Representation, Resideo Technologies Inc. announced plans to buy Snap One Holdings Corp., APi Group said it bought an elevator maintenance company, Prysmian said it agreed to purchase Encore Wire, and Sayari said it closed on an investment from TPG.
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April 19, 2024
Self-Immolation Near Trump Trial Prompts Security Review
The New York Police Department is reviewing security protocols for former President Donald Trump's first criminal trial after a fatal incident in which a man set himself on fire across the street from the Manhattan courthouse where the proceeding was taking place Friday, underscoring safety concerns.
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April 19, 2024
Colo. Panel Nixes Short-Term Rental Tax Boost Plan
A Colorado measure to reclassify properties used for short-term rentals so they would be taxed at a higher rate was rejected by a Senate panel.
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April 18, 2024
Neb. Gov. Plans To Call For Session To Revive Digital Tax
Nebraska's Republican governor said he plans to call for a special session of the state's unicameral Legislature to address tax reform after his proposal to tax advertising services, including digital advertisers, and broaden the sales tax base to fund property tax relief died on the floor Thursday.
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April 18, 2024
Co.'s Shoe Sales Warrant Partial Refund, Ohio Justices Told
An apparel company reiterated to the Ohio Supreme Court on Thursday that it is not subject to gross receipts tax on receipts from the sale of goods that an in-state distribution center transports to retail stores outside Ohio.
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April 18, 2024
Peacock Says Maryland Digital Ad Tax Violates Internet Law
Maryland's digital advertising tax violates the commerce clause of the U.S. Constitution and the Internet Tax Freedom Act, streaming giant Peacock TV LLC told the Maryland Tax Court on Thursday in one of several related cases pending before the court.
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April 18, 2024
La. Remote Seller Entity Ups Ante In Sales Tax System Battle
Louisiana's remote sellers commission is seeking to intervene in a constitutional challenge against the state's sales tax system, elevating the profile of the litigation that alleges Louisiana's varying state and local tax rules are overly burdensome for out-of-state businesses.
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April 18, 2024
Trump Again Seeks Delay In Fla., Says Attys Tied Up In NY
Counsel for Donald Trump in the ex-president's federal classified documents case in Florida again asked on Thursday to extend disclosure deadlines, contending that their client would be prejudiced without more time while some of them defend Trump in his hush money case in New York.
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April 18, 2024
Ga. Corp., Personal Income Tax Rates Dropping To 5.39%
Domestic and foreign companies doing business in Georgia will continue to pay the same tax rate as individuals, but both corporate and personal rates will fall, according to a tax package signed Thursday by Republican Gov. Brian Kemp.
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April 18, 2024
Miss. Reenacts Income Tax Credit For Railroad Expenditures
Mississippi reenacted an income tax credit for qualified railroad reconstruction or replacement expenditures under a bill signed by the governor.
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April 18, 2024
Jury Of 12 Picked For Trump Hush Money Case In NY
A jury of 12 New Yorkers was selected Thursday for the hush money trial of former President Donald Trump on charges he falsified business records to keep news of an extramarital affair from damaging his 2016 electoral prospects.
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April 18, 2024
Mich. Treasury Dept. Clarifies Homestead Property Tax Credit
Michigan's Treasury Department clarified when a homestead property tax credit applies to property that is contiguous to a property owner's home.
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April 17, 2024
EV Tax Credit Restrictions, Trade Bills Advance In House
The House Ways and Means Committee advanced several trade bills Wednesday that would impose more restrictions for new electric vehicles to qualify for a federal tax credit, assert congressional authority in agreements with foreign governments, and renew the country's largest and oldest trade preferences program.
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April 17, 2024
Ga. Updates Guidance On Tax Credit For Education Gifts
Georgia's Department of Revenue issued updated guidance on a qualified education donation tax credit via amendments to state income tax regulations, the department said in a notice published Wednesday.
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April 17, 2024
Okla. Lawmakers OK Use Of Images For Property Inspections
Oklahoma would allow county assessors to inspect property remotely using aerial images taken from airplanes after an initial in-person inspection under a bill passed by the state House of Representatives and headed to the governor.
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April 17, 2024
Okla. Lawmakers OK Wider Tax Break For Municipal Airports
Oklahoma would expand a property and income tax exemption for municipally owned airports in the state under a bill passed by the state Senate and headed to the governor.
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April 17, 2024
Tax Challenge Viable In Court, Philip Morris Tells NC Justices
A North Carolina administrative court has the power to find a state tax law unconstitutional, tobacco company Philip Morris USA has told the state Supreme Court in its attempt to avoid a more than $300,000 franchise tax bill.
Expert Analysis
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How And Why Your Firm Should Implement Fixed-Fee Billing
Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.
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How Law Firms Can Use Account-Based Marketing Strategies
Amid several evolving legal industry trends, account-based marketing can help law firms uncover additional revenue-generating opportunities with existing clients, with key considerations ranging from data analytics to relationship building, say Jennifer Ramsey at stage LLC and consultant Gina Sponzilli.
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Strategic Succession Planning At Law Firms Is Crucial
Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.
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Potential Calamities, Greatly Exaggerated: SALT In Review
From fears of judicial upheaval to a tax break for space travel, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Maximizing Law Firm Profitability In Uncertain Times
As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.
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Preparing Your Legal Department For Pillar 2 Compliance
Multinational entities should familiarize themselves with Pillar Two of the Organization for Economic Cooperation and Development’s BEPs 2.0 project and prepare their internal legal tracking systems for related reporting requirements that may go into effect as early as January, says Daniel Robyn at Ernst & Young.
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What Large Language Models Mean For Document Review
Courts often subject parties using technology assisted review to greater scrutiny than parties conducting linear, manual document review, so parties using large language models for document review should expect even more attention, along with a corresponding need for quality control and validation, say attorneys at Sidley.
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Participating In Living History Makes Me A Better Lawyer
My role as a baron in a living history group, and my work as volunteer corporate counsel for a book series fan association, has provided me several opportunities to practice in unexpected areas of law — opening doors to experiences that have nurtured invaluable personal and professional skills, says Matthew Parker at the Nebraska Department of Health and Human Services.
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Another Ark. Tax Cut And Chicago Transit: SALT In Review
From yet another income tax cut in Arkansas to proposed extra funding for Chicago transit, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Private Equity Owners Can Remedy Law Firms' Agency Issues
Nonlawyer, private-equity ownership of law firms can benefit shareholders and others vulnerable to governance issues such as disparate interests, and can in turn help resolve agency problems, says Michael Di Gennaro at The Law Practice Exchange.
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Kentucky Tax Talk: Taking Up The Dormant Commerce Clause
Attorneys at Frost Brown examine whether the U.S. Supreme Court is likely to review Foresight Coal Sales v. Kent Chandler to consider whether a Kentucky utility rate law discriminates against interstate commerce, and how the decision may affect dormant commerce clause jurisprudence.
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TCJA Workarounds And A Misstep In Va.: SALT In Review
From federal SALT deduction workarounds to Virginia's missed opportunity, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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How Taxpayers Can Prep As Justices Weigh Repatriation Tax
The U.S. Supreme Court might strike down the 2017 federal tax overhaul's corporate repatriation tax in Moore v. U.S., so taxpayers should file protective tax refund claims before the case is decided and repatriate previously taxed earnings that could become entangled in dubious potential Section 965 refunds, say Jenny Austin and Gary Wilcox at Mayer Brown.