State & Local
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July 02, 2024
Calif. OTA Upholds Apportionment Method On $85M Gain
California's Franchise Tax Board applied the correct apportionment method to a nonresident's $85 million income, the state Office of Tax Appeals said, upholding an additional tax assessment of $650,000.
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July 02, 2024
W.Va. Revenues For Fiscal Year Top Forecast By $590M
West Virginia's general fund collections in fiscal year 2024 were $590 million ahead of budget estimates, the State Budget Office said in a preliminary report.
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July 02, 2024
Mass. Panel Won't Cut Tax Value Over Denied Building Permits
The owner of commercial property in Massachusetts failed to show that local denials of building permits impacted the tax value of the property, a state panel said in a decision released Tuesday, rejecting the owner's appeal of a local assessment.
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July 02, 2024
Ark. June Revenue Drops From Previous Year, Dept. Says
Arkansas net available general revenue for the month of June fell 2.5% below the previous year's collections, the state Department of Finance and Administration said Tuesday.
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July 02, 2024
Pennsylvania Ends Fiscal Year Above Revenue Estimates
Pennsylvania's revenue for the 2023-24 fiscal year was 1.9% above the state's revenue estimates, the state Department of Revenue announced.
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July 02, 2024
Mass. Panel OKs Penalty For Filing Estate Tax 7 Years Late
A Massachusetts estate is liable for about $258,000 in penalties and interest for filing a required tax return seven years late, a state panel said in a decision released Tuesday.
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July 01, 2024
GoDaddy Shareholders Balk At Further Chancery Delay
A special litigation committee that GoDaddy Inc. created in September 2023 in response to shareholder litigation over an $850 million tax asset buyout has 30 days to convince a Delaware Chancery Court judge that it is conducting a good-faith investigation and cooperating with the suing shareholders.
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July 01, 2024
Ill. Tax Applies To Re-Renters Of Hotel Rooms, Dept. Says
Illinois will impose an occupation tax on people who re-rent hotel rooms in the state as part of recently enacted omnibus legislation, the state Department of Revenue said.
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July 01, 2024
Calif. Ballot Measure Seeks Nix Of Tax Hike Threshold Change
California would scrap part of a ballot initiative that would have reduced the threshold needed for local governments to pass special taxes for public infrastructure and affordable housing projects under another ballot measure passed by legislators.
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July 01, 2024
Sealed Mich. Tax Panel Docs Protected From FOIA, Court Says
Confidential Michigan Tax Tribunal proceedings are shielded from public-records requests, a state appeals court ruled, rejecting the tribunal's claim that it's required to disclose confidential information unless it's exempt from release under the state's Freedom of Information Act.
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July 01, 2024
Calif. Allows Biz Tax Credit Refunds After Limitation Period
California will let taxpayers subject to a temporary business tax credit cap imposed by the state's recently enacted budget tax law elect to receive a refund for credits they otherwise could have claimed for the limitation period under a bill signed by Gov. Gavin Newsom.
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July 01, 2024
Womble Bond Adds Int'l Tax Partner In Houston Office
Womble Bond Dickinson has added a partner to its corporate and securities group in Houston who will focus on tax law and cross-border transactions, the firm announced.
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July 01, 2024
NJ Tax Court Sends E-Cig Tax Dispute To Trial
A trial is needed to determine whether an e-cigarette company destroyed its nicotine cartridges in order to reduce its audit liability and whether those trashed cartridges could still be taxed, the New Jersey Tax Court ruled.
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July 01, 2024
Nelson Mullins Adds 9-Attorney Tax Team In Houston
Nelson Mullins Riley & Scarborough LLP announced Monday that five partners and four other tax attorneys have joined its new Houston office from Chamberlain Hrdlicka White Williams & Aughtry, including a former Texas Supreme Court justice.
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July 01, 2024
Longtime IRS Trial Atty Joins Jones Day In NY
An attorney who spent his entire career at the IRS has moved to private practice at Jones Day, the firm said on Monday.
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June 28, 2024
NJ Lawmakers OK Corp. Tax Hike, Expansion Of Tax Credits
New Jersey would reinstate the nation's highest corporate income tax rate on large corporations, offer tax incentives for capital investments from artificial intelligence companies and relax employee location requirements for businesses to receive tax breaks, under legislation lawmakers passed Friday alongside the state's budget.
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June 28, 2024
Mont. Tax Dept. Adopts Updated Regs For Water's-Edge Filers
Montana will carry out recently enacted legislation that eliminated a requirement for a so-called water's-edge return to include income and apportionment factors from corporate affiliates incorporated in a now-defunct list of tax havens under regulatory updates adopted by the state Department of Revenue.
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June 28, 2024
Key State And Local Tax Takeaways From June
As state legislatures hurried to pass bills and finish sessions before the end of the fiscal year, and courts handed down several key decisions, June was a consequential month in the state tax world. Here, Law360 presents key state and local tax developments to know from the past month.
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June 28, 2024
Ohio Tax Applies To Quest Testing Kit Purchases, Board Says
Two Quest Diagnostics subsidiaries are not eligible for a refund of sales tax paid on testing kits, reagents and hormones because those items are not drugs exempt from tax, the Ohio Board of Tax Appeals said Friday.
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June 28, 2024
Mass. Senate OKs $5B Housing Bill Without Local-Option Tax
Massachusetts would authorize about $5 billion in bonding authority to promote housing under legislation passed by the state Senate that leaves out a local-option real estate transfer fee sought by Democratic Gov. Maura Healey.
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June 28, 2024
Fla. Won't Require Short-Term Ad Platforms To Remit Tax
Florida Gov. Ron DeSantis vetoed a bill that would have required short-term rental advertising platforms to collect and remit transient rental tax on bookings made through the platform.
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June 28, 2024
Vt. General Revenues Through May Up $41M From Last Year
Vermont's general fund revenue from July through May exceeded last year by roughly $41 million, according to a report by the state Agency of Administration.
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June 28, 2024
Mich. Revenues Through May Fall $530M From Last Year
Michigan's general fund revenues from October through May were down $530 million compared with the same period last fiscal year, the State Budget Office reported Friday.
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June 28, 2024
Taxation With Representation: Kirkland, Vinson, Skadden
In this week's Taxation with Representation, Aareal Bank AG and Advent International sell a property management and maintenance software company, Webtoon Entertainment Inc. and Tamboran Resources Corp. price initial public offerings, SM Energy Company acquires oil and gas assets, and Nokia sells Alcatel Submarine Networks to the French state.
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June 27, 2024
IRS To Offer Combined Filing For Energy Investment Credits
The Internal Revenue Service will let clean energy project owners that are claiming investment tax credits for more than 200 facilities file the claims with a single form, an agency official said Thursday.
Expert Analysis
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An Unsound Silence: SALT In Review
From the U.S. Supreme Court's silence on an apportionment ruling to the latest assault on streaming services, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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A Year-End Look At Florida's Capital Investment Tax Credit
Notwithstanding the Walt Disney Co.’s feud with Gov. Ron DeSantis this year, Florida's capital investment tax credit will continue to make the state a favored destination for large corporations, particularly in light of the new federal alternative minimum tax and the Pillar Two top-up tax, says Alan Lederman at Gunster.
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Understanding Discovery Obligations In Era Of Generative AI
Excerpt from Practical Guidance
Attorneys and businesses must adapt to the unique discovery challenges presented by generative artificial intelligence, such as chatbot content and prompts, while upholding the principles of fairness, transparency and compliance with legal obligations in federal civil litigation, say attorneys at King & Spalding.
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The Case For Post-Bar Clerk Training Programs At Law Firms
In today's competitive legal hiring market, an intentionally designed training program for law school graduates awaiting bar admission can be an effective way of creating a pipeline of qualified candidates, says Brent Daub at Gilson Daub.
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Ohio Voters Legalize Cannabis — What Comes Next?
This month, voters approved a citizen-initiated statute that legalizes marijuana for recreational use in Ohio, but the legalization timeline could undergo significant changes at the behest of the state's lawmakers, say Daniel Shortt and David Waxman at McGlinchey Stafford.
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Bezos On The Move: SALT In Review
From billionaire Jeff Bezos' impending relocation to an important transfer pricing case in Louisiana, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Mo. Solar Projects Need Clarity On Enterprise Zone Tax Relief
In Missouri, enhanced enterprise zones offer tax abatements that could offset the cost of solar project infrastructure, but developers must be willing to navigate uncertainty about whether the project is classified as real property, say Lizzy McEntire and Anna Kimbrell at Husch Blackwell.
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AI Can Help Lawyers Overcome The Programming Barrier
Legal professionals without programming expertise can use generative artificial intelligence to harness the power of automation and other technology solutions to streamline their work, without the steep learning curve traditionally associated with coding, says George Zalepa at Greenberg Traurig.
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Preparing Law Students For A New, AI-Assisted Legal World
As artificial intelligence rapidly transforms the legal landscape, law schools must integrate technology and curricula that address AI’s innate challenges — from ethics to data security — to help students stay ahead of the curve, say Daniel Garrie at Law & Forensics, Ryan Abbott at JAMS and Karen Silverman at Cantellus Group.
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General Counsel Need Data Literacy To Keep Up With AI
With the rise of accessible and powerful generative artificial intelligence solutions, it is imperative for general counsel to understand the use and application of data for myriad important activities, from evaluating the e-discovery process to monitoring compliance analytics and more, says Colin Levy at Malbek.
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Kentucky Tax Talk: Clash Over Industrial Supplies Exemption
Recent legislative testimony in Kentucky may cause another battle over the state's sales tax exemptions for industrial supplies, even though the testimony appears to mischaracterize the impact of a major state court ruling that upheld the exemptions, say attorneys at Frost Brown.
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Navigating Discovery Of Generative AI Information
As generative artificial intelligence tools become increasingly ubiquitous, companies must make sure to preserve generative AI data when there is reasonable expectation of litigation, and to include transcripts in litigation hold notices, as they may be relevant to discovery requests, say Nick Peterson and Corey Hauser at Wiley.
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Finding Focus: Strategies For Attorneys With ADHD
Given the prevalence of ADHD among attorneys, it is imperative that the legal community gain a better understanding of how ADHD affects well-being, and that resources and strategies exist for attorneys with this disability to manage their symptoms and achieve success, say Casey Dixon at Dixon Life Coaching and Krista Larson at Stinson.