Tax

High Court Religious Tax Credit Ruling Won't Bar State Choice

The U.S. Supreme Court's recent decision in Espinoza v. Montana, which allowed use of state scholarship funds for religious education, signals the court's support for some state independence in controlling permissible use of public funds for religious purposes, says James Layton of Tueth Keeney.

Captive Insurance May Help In A Pandemic, But Caution Is Key

Although captive insurance can help address some of the traditional coverage gaps exposed by the current COVID-19 crisis, three Tax Court cases from recent years illustrate the Internal Revenue Service's hostility toward the entities, says Patrick McCann at Chamberlain Hrdlicka.

CARES Act Reanimates Sale-Leaseback Tax Benefits

Sale-leaseback transactions have new life thanks to the CARES Act's net operating loss changes, which give participants an opportunity to reduce effective tax rates, accelerate refunds and, in some cases, deduct 100% of their rental payments, say William Rohrer and Maximilian Viski-Hanka at Duane Morris.

Opinion

Time To Consider Percentage Rental Agreements For Lawyers

It has long been the law that attorneys cannot use percentage rental agreements because doing so would constitute an impermissible sharing of fees with nonlawyers, but such arrangements can help lawyers match expenses with revenues in lean times like now, say Peter Jarvis and Trisha Thompson at Holland & Knight.

Altera Could Bolster State Transfer Pricing Scrutiny

The reasoning of the Ninth Circuit's Altera v. Commissioner decision — which the U.S. Supreme Court recently declined to review — could provide state tax authorities with an argument for additional discretion when challenging transfer pricing arrangements between affiliated entities, say attorneys at Eversheds Sutherland.

Okla. High Court Marijuana Ruling Provides Preemption Guide

The reasoning in the Oklahoma Supreme Court's recent decision finding no conflict between federal law prohibiting the sale and use of marijuana and a potential state law allowing these actions may serve as a road map for other state courts faced with similar issues, say Justin Stern and Joseph Pangaro at Duane Morris.

What You Say In Online Mediation May Be Discoverable

Mediation conducted online with participants in different states makes it harder to determine where communications were made, increasing the risk that courts will apply laws of a state that does not protect mediation confidentiality, say mediators Jeff Kichaven and Teresa Frisbie and law student Tyler Codina.

10 Tips For A Successful Remote Arbitration Hearing

As I learned after completing a recent international arbitration remotely, with advance planning a video hearing can replicate the in-person experience surprisingly well, and may actually be superior in certain respects, says Kate Shih at Quinn Emanuel.

High Court's SEC Enforcement Ruling Has Tax Consequences

In light of the U.S. Supreme Court's recent decision in Liu v. Securities and Exchange Commission, taxpayers whose pre-Tax Cuts and Jobs Act disgorgement deductions were rejected should consider contesting the Internal Revenue Service's determination, say attorneys at Chamberlain Hrdlicka.

Opinion

To Achieve Diversity, Law Firms Must Reinvent Hiring Process

If law firms are truly serious about making meaningful change in terms of diversity, they must adopt a demographically neutral, unbiased hiring equation that looks at personality traits with greater import than grades and class rank, says Thomas Latino at Florida State University College of Law.

Cybersecurity Steps For Law Firms Amid Heightened Risks

With large swaths of the population indoors and primarily online, cybercriminals will be able to exploit law firms more easily now than ever before, but some basic precautions can help, says Joel Wallenstrom at Wickr.

Congress Could Still Pass Cannabis Legislation In 2020

While the odds are admittedly against pro-cannabis legislation moving forward in Congress this year, the latest pandemic relief bill currently pending in the Senate might offer an unexpected opportunity for progress, say attorneys at King & Spalding.

VAT Cuts Won't Save Economies, Will Burden Businesses

Although value-added tax cuts may seem attractive for governments looking to stimulate economies in the wake of the pandemic, their implementation costs and inefficiencies can cause significant trouble for businesses, says Richard Asquith of Avalara.

Opinion

Republicans Keep Confirming Unqualified Judicial Nominees

What emerges from the group of 200 federal judges confirmed by the Senate under President Donald Trump is a judiciary stacked with young conservative ideologues, many of whom lack basic judicial qualifications, says Sen. Dianne Feinstein, D-Calif., ranking member of the Senate Judiciary Committee.

Tips For Crafting The Perfect Law Firm Alert

As lawyers have had more time to write in recent weeks, the number of law firm alerts has increased massively, but a lot of them fail to capture readers and deliver new business, says Richard Torrenzano at The Torrenzano Group.