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State And Local Tax Cases To Watch In 2nd Half Of 2026
From Mastercard's appeal of a South Carolina decision that income-producing activity occurred within the state to JetBlue's argument that Florida's method of taxing airline income unconstitutionally leads to double taxation, there will be plenty of state and local tax cases to watch in the second half of 2026. Here, Law360 looks at cases to keep an eye on in the next six months.
Attys Seek Clarity, Carveouts In NYC 2nd-Home Tax Rules
Practitioners implored the New York City Department of Finance on Thursday to clarify certain elements of the agency's proposed rules for a tax on high-value second homes, including addressing whether purchasers may have leeway during renovations and how changes of ownership during the year will be evaluated.
Pillar 2 Carveouts Won't Undercut Global Tax, Official Says
The integrity of the 15% global minimum tax system will not be undermined by a host of nations gaining access to provisions that exempt them from certain obligations, the tax head at the Organization for Economic Cooperation and Development said Thursday.
State And Local Tax Cases To Watch In 2nd Half Of 2026
From Mastercard's appeal of a South Carolina decision that income-producing activity occurred within the state to JetBlue's argument that Florida's method of taxing airline income unconstitutionally leads to double taxation, there will be plenty of state and local tax cases to watch in the second half of 2026. Here, Law360 looks at cases to keep an eye on in the next six months.
Attys Seek Clarity, Carveouts In NYC 2nd-Home Tax Rules
Practitioners implored the New York City Department of Finance on Thursday to clarify certain elements of the agency's proposed rules for a tax on high-value second homes, including addressing whether purchasers may have leeway during renovations and how changes of ownership during the year will be evaluated.
Pillar 2 Carveouts Won't Undercut Global Tax, Official Says
The integrity of the 15% global minimum tax system will not be undermined by a host of nations gaining access to provisions that exempt them from certain obligations, the tax head at the Organization for Economic Cooperation and Development said Thursday.
Federal More
The Fourth Circuit will not rethink its decision last month affirming the convictions of two St. Louis attorneys accused of engineering a $22 million tax avoidance scheme.
Sidley Austin LLP announced Thursday that five Clifford Chance LLP attorneys have joined the firm's global finance and tax practices in New York and Washington, D.C.
A partnership that donated over 73 acres in Butler County, Missouri, to a conservation group told the U.S. Tax Court it properly deducted $55.6 million for the gift, saying the value was based on the analysis ... (more story)
The IRS should update regulations that would allow digital asset brokers to provide statements electronically to remove operational hurdles and designate more effective communication methods, such as in-app me... (more story)
For wind and solar projects that sprinted to begin construction before the accelerated placed-in-service deadline of July 4, project owners must now assemble and maintain documentation to qualify the project a... (more story)
The estate of a man who co-owned a Massachusetts shopping center challenged a $40.8 million deficiency assessment in the U.S. Tax Court, saying the IRS wrongly determined that a 2012 sale of his interest in th... (more story)
Foley & Lardner LLP has strengthened its corporate bench with a Dallas-based partner who came aboard from Kirkland & Ellis LLP and a Boston-based partner from Goodwin Procter LLP.
State & Local More
Colo. County's Mill Increases Unconstitutional, Court Told
A Colorado county violated the state's constitution by continuing to increase its property tax mill without voter approval and failing to reduce the levy or refund taxpayers when excess revenue was collected, ... (more story)
Mich. Asks State Justices To Skip Energy Co.'s $8M Tax Fight
Michigan's tax agency urged the state Supreme Court to reject an energy company's appeal of $8 million in tax on its wholesale sales of electricity, arguing that a lower court correctly relied on a contractual... (more story)
Minn. Tax Court Weighs Tower Sale Prices In Value Dispute
The Minnesota Tax Court will consider recent purchase prices for the Wells Fargo Center in Minneapolis, along with a discounted cash flow analysis, in a hundred-million-dollar tax valuation dispute over the office tower.
Judge Limits Wayne County Surplus Property Tax Settlements
Former property owners seeking surpluses from Wayne County tax foreclosure proceedings got a partial restriction of the county's settlement practices when a Michigan federal judge ruled Tuesday that former own... (more story)
NC Will Tax Prediction Markets, Nix Break For Data Centers
North Carolina will become the latest state to tax prediction markets, in addition to increasing taxes on sports betting and rolling back a tax break for data centers, under a budget signed by its governor.
DC Circ. Backs Tax Bribery Convictions Despite Jury Error
A D.C. Circuit panel refused on Tuesday to reverse a lower court's judgments against two men in connection to a bribery scheme carried out to evade $2.3 million in business tax obligations, finding a jury inst... (more story)
Simpson Thacher Adds Energy Tax Partner From Weil In NY
Simpson Thacher & Bartlett LLP announced Tuesday that a former Weil Gotshal & Manges LLP partner has joined the firm's New York office to advise clients on the U.S. tax aspects of energy and infrastructure transactions.
A Colorado county violated the state's constitution by continuing to increase its property tax mill without voter approval and failing to reduce the levy or refund taxpayers when excess revenue was collected, ... (more story)
Michigan's tax agency urged the state Supreme Court to reject an energy company's appeal of $8 million in tax on its wholesale sales of electricity, arguing that a lower court correctly relied on a contractual... (more story)
The Minnesota Tax Court will consider recent purchase prices for the Wells Fargo Center in Minneapolis, along with a discounted cash flow analysis, in a hundred-million-dollar tax valuation dispute over the office tower.
Former property owners seeking surpluses from Wayne County tax foreclosure proceedings got a partial restriction of the county's settlement practices when a Michigan federal judge ruled Tuesday that former own... (more story)
North Carolina will become the latest state to tax prediction markets, in addition to increasing taxes on sports betting and rolling back a tax break for data centers, under a budget signed by its governor.
A D.C. Circuit panel refused on Tuesday to reverse a lower court's judgments against two men in connection to a bribery scheme carried out to evade $2.3 million in business tax obligations, finding a jury inst... (more story)
Simpson Thacher & Bartlett LLP announced Tuesday that a former Weil Gotshal & Manges LLP partner has joined the firm's New York office to advise clients on the U.S. tax aspects of energy and infrastructure transactions.
International More
EU Withholding Rules Curbing Investment, Says Tax Lead
The European Union needs to improve withholding tax rules for investment funds to generate more capital for businesses, although progress is restricted by ownership rules, a senior EU official said Thursday.
Austria's Bank VAT Break Was State Aid, EU Top Court Says
The European Union's top court ruled Thursday against an Austrian law that provided a value-added tax exemption for certain transactions in the banking and insurance sectors, holding that the tax break functio... (more story)
EU, South Africa Meet To Discuss Clean Energy Trade Deal
South African and European officials began an intergovernmental dialogue Thursday to continue implementation efforts on the green energy trade deal signed last year, with particular focus on the kinds of busin... (more story)
HMRC Secures 260 Convictions For Tax Dodging In 2025-26
The U.K.'s tax authority secured 260 convictions out of 300 prosecutions in criminal tax cases in fiscal year 2025-26, it said Thursday in its annual report.
Irish Reps Must Step Away From Biz Tax Talks, Academics Say
The Irish delegation currently leading the Council of the European Union must give up its role as head broker on EU corporate tax negotiations, a group of academics said in an open letter Thursday.
London Gallery Beats HMRC Charges Over Russia Sanctions
A London art gallery was cleared of criminal wrongdoing on Thursday as a judge ruled that it did not breach a ban on sending goods to Russia by trying to ship a painting to an art collector leaving Moscow.
EU's Top Court Rules Out Joint VAT Liability In Greek Case
A person classified as liable for paying value-added taxes in one European Union member country owed by an entity established in another member country cannot also be held jointly and severally liable for thos... (more story)
The European Union needs to improve withholding tax rules for investment funds to generate more capital for businesses, although progress is restricted by ownership rules, a senior EU official said Thursday.
The European Union's top court ruled Thursday against an Austrian law that provided a value-added tax exemption for certain transactions in the banking and insurance sectors, holding that the tax break functio... (more story)
South African and European officials began an intergovernmental dialogue Thursday to continue implementation efforts on the green energy trade deal signed last year, with particular focus on the kinds of busin... (more story)
The U.K.'s tax authority secured 260 convictions out of 300 prosecutions in criminal tax cases in fiscal year 2025-26, it said Thursday in its annual report.
The Irish delegation currently leading the Council of the European Union must give up its role as head broker on EU corporate tax negotiations, a group of academics said in an open letter Thursday.
A London art gallery was cleared of criminal wrongdoing on Thursday as a judge ruled that it did not breach a ban on sending goods to Russia by trying to ship a painting to an art collector leaving Moscow.
A person classified as liable for paying value-added taxes in one European Union member country owed by an entity established in another member country cannot also be held jointly and severally liable for thos... (more story)