Colo. House Panel Narrowly OKs Sundance Film Credit Bill
Colorado would enact a $34 million tax credit to attract the Sundance Film Festival under legislation passed by a House committee over concerns it provides undue benefit to one community and one entity.
4th Circ. Says LeClairRyan Founder May Duck Tax Liability
Defunct law firm LeClairRyan PLLC's operating agreement did not bar founder Gary LeClair from jumping ship in time to potentially dodge massive tax bills tied to the firm's collapse, the Fourth Circuit ruled Friday.
Former Top Congressional Investigator Leaves Lasting Legacy
Elise J. Bean, former chief counsel for the U.S. Senate Permanent Subcommittee on Investigations, is remembered for leading landmark bipartisan congressional probes, which exposed massive tax and financial scandals with findings that helped pave the way for game-changing legislation.
Colo. House Panel Narrowly OKs Sundance Film Credit Bill
Colorado would enact a $34 million tax credit to attract the Sundance Film Festival under legislation passed by a House committee over concerns it provides undue benefit to one community and one entity.
4th Circ. Says LeClairRyan Founder May Duck Tax Liability
Defunct law firm LeClairRyan PLLC's operating agreement did not bar founder Gary LeClair from jumping ship in time to potentially dodge massive tax bills tied to the firm's collapse, the Fourth Circuit ruled Friday.
Former Top Congressional Investigator Leaves Lasting Legacy
Elise J. Bean, former chief counsel for the U.S. Senate Permanent Subcommittee on Investigations, is remembered for leading landmark bipartisan congressional probes, which exposed massive tax and financial scandals with findings that helped pave the way for game-changing legislation.
Federal More
A Manhattan federal judge blocked the access of Elon Musk and staffers of his temporary Department of Government Efficiency to U.S. Department of the Treasury payment systems Saturday and ordered them to destr... (more story)
The U.S. government defended the Corporate Transparency Act in the Fifth and Fourth Circuits on Friday, urging the former to reverse a Texas federal judge's nationwide injunction on the law and the latter to a... (more story)
Senate Finance Committee ranking member Ron Wyden questioned Friday whether U.S. Treasury Department lawyers were misleading and evasive when they said members of Elon Musk's U.S. DOGE Service Temporary Organi... (more story)
A former Massachusetts state senator was sentenced to 18 months in prison Friday after being convicted of fraudulently collecting pandemic unemployment benefits and failing to report consulting income he was a... (more story)
A customs broker pled guilty Friday in California federal court to evading $1.5 million in taxes and overcharging clients about $5.4 million in import duty fees as part of a plea agreement he reached with the ... (more story)
Former NFL player Bill Romanowski and wife Julie had their Chapter 11 bankruptcy case converted to a Chapter 7 on Friday, after a California judge called a filing from the couple seeking the case's dismissal f... (more story)
Republican U.S. senators have filed a bill that would bar cannabis companies from taking business deductions even if cannabis is taken off of Schedule 1 of the Controlled Substances Act.
State & Local More
RI Digital Ad Tax Plan Invites Legal Challenges, COST Says
Rhode Island's proposal to create a tax on digital advertising revenues over $1 billion would face similar constitutional concerns that have plagued the similar Maryland tax, the Council on State Taxation told... (more story)
Taxation With Representation: Kirkland, Latham, Skadden
In this week's Taxation With Representation, Triumph Group goes private via Berkshire Partners and Warburg Pincus affiliates, alternative asset manager TPG buys Altus Power, Globus Medical buys Nevro Corp., an... (more story)
Accountant-Owned Law Firms Could Blur Ethical Lines
KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervisin... (more story)
Illinois Judge Extends Hold On Swipe Fee Law To More Banks
An Illinois federal judge on Thursday expanded a preliminary injunction against Illinois' controversial swipe fee law, adding out-of-state banks to the list of financial institutions shielded from having to co... (more story)
Baker McKenzie Partner Rejoins Firm From Apple
Baker McKenzie announced that a former partner specializing in trade and customs law has rejoined the firm after serving as principal counsel and the lead adviser on global trade matters for Apple.
Detroit Public School District Can't Get Quick Tax Ruling
A Michigan judge has refused to issue an order guaranteeing in the short term that Detroit Public Schools can keep collecting a property tax to pay down debt, finding on Wednesday the debt-burdened school dist... (more story)
Kan. Senate OKs Cap On Property Value Increases
Kansas would limit annual increases to a property's taxable value to 3% through a constitutional amendment under a resolution advanced Thursday by the Senate.
Conn. Gov. Pitches $350M Corporate Tax Boost In Budget
Connecticut would make changes to its corporate taxes that would raise nearly $350 million over two years under the governor's budget proposal, which would also provide property tax relief for residential owners.
AI Will Soon Transform The E-Discovery Industrial Complex
Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated ... (more story)
Rhode Island's proposal to create a tax on digital advertising revenues over $1 billion would face similar constitutional concerns that have plagued the similar Maryland tax, the Council on State Taxation told... (more story)
In this week's Taxation With Representation, Triumph Group goes private via Berkshire Partners and Warburg Pincus affiliates, alternative asset manager TPG buys Altus Power, Globus Medical buys Nevro Corp., an... (more story)
KPMG’s recent application to open a legal practice in Arizona represents the first overture by an accounting firm to take advantage of the state’s relaxed law firm ownership rules, but enforcing and supervisin... (more story)
An Illinois federal judge on Thursday expanded a preliminary injunction against Illinois' controversial swipe fee law, adding out-of-state banks to the list of financial institutions shielded from having to co... (more story)
Baker McKenzie announced that a former partner specializing in trade and customs law has rejoined the firm after serving as principal counsel and the lead adviser on global trade matters for Apple.
A Michigan judge has refused to issue an order guaranteeing in the short term that Detroit Public Schools can keep collecting a property tax to pay down debt, finding on Wednesday the debt-burdened school dist... (more story)
Kansas would limit annual increases to a property's taxable value to 3% through a constitutional amendment under a resolution advanced Thursday by the Senate.
Connecticut would make changes to its corporate taxes that would raise nearly $350 million over two years under the governor's budget proposal, which would also provide property tax relief for residential owners.
Todd Itami at Covington discusses how generative artificial intelligence will reshape the current e-discovery paradigm, replacing the blunt instrument of data handling with a laser scalpel of fully integrated ... (more story)
International More
US To Appeal Block On Corporate Transparency Act
The federal government plans to challenge an order preventing it from enforcing the Corporate Transparency Act's reporting requirements for businesses, following the U.S. Supreme Court's pause of another natio... (more story)
Israeli Law Firm Allowed To Amend Suit Against GILTI Regs
A D.C. federal court on Wednesday let the owner of an Israeli law firm amend his challenge of regulations for the U.S. tax on global intangible low-taxed income, a provision of the 2017 tax overhaul.
Ryanair Loses €1B TAP State Aid Challenge
Low-cost Irish airline Ryanair has lost yet another attempt to stop state aid from being delivered to its rivals in the airline industry after a European Union court on Wednesday batted away its challenge to a... (more story)
Unpacking The Legal Foundation Of Trump's New Trade War
President Donald Trump's recent executive orders and proclamations regarding emergencies at the U.S. border are based on statutory powers enabling a president to address extraordinary external threats — and co... (more story)
When Innovation Overwhelms The Rule Of Law
In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light s... (more story)
EU Sets Out Actions For E-Commerce Import Rules
The European Commission said Wednesday it is raising customs controls on low-value imports flowing into the European Union via online retailers and marketplaces hosting non-European traders.
Lloyds Denied £3.8M Deduction From Closing Ireland Location
HM Revenue & Customs correctly rejected a £3.8 million ($4.8 million) deduction for cross-border tax relief claimed by a subsidiary of Lloyds Banking Group that another subsidiary incurred by closing its locat... (more story)
The federal government plans to challenge an order preventing it from enforcing the Corporate Transparency Act's reporting requirements for businesses, following the U.S. Supreme Court's pause of another natio... (more story)
A D.C. federal court on Wednesday let the owner of an Israeli law firm amend his challenge of regulations for the U.S. tax on global intangible low-taxed income, a provision of the 2017 tax overhaul.
Low-cost Irish airline Ryanair has lost yet another attempt to stop state aid from being delivered to its rivals in the airline industry after a European Union court on Wednesday batted away its challenge to a... (more story)
President Donald Trump's recent executive orders and proclamations regarding emergencies at the U.S. border are based on statutory powers enabling a president to address extraordinary external threats — and co... (more story)
In an era where technology is rapidly evolving and artificial intelligence is seemingly everywhere, it’s worth asking if the law — both substantive precedent and procedural rules — can keep up with the light s... (more story)
The European Commission said Wednesday it is raising customs controls on low-value imports flowing into the European Union via online retailers and marketplaces hosting non-European traders.
HM Revenue & Customs correctly rejected a £3.8 million ($4.8 million) deduction for cross-border tax relief claimed by a subsidiary of Lloyds Banking Group that another subsidiary incurred by closing its locat... (more story)