State & Local
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November 20, 2024
NY Says Couple Can't Carry Forward Charitable Deduction
A New York couple cannot carry over a deduction for a charitable donation to subsequent tax years as there is nothing in the state's statutes that allows for such a move, the state's tax department said.
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November 20, 2024
Boston Mayor Touts Property Tax Relief Bill Before Panel
Massachusetts lawmakers should allow Boston to adjust its property tax calculations to stabilize the share borne by residences, mitigating an impending tax hike, and boost a business personal property tax exemption, Boston's mayor told a legislative panel Wednesday.
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November 20, 2024
La. Total Revenue In Oct. Falls $242M From Last Year
Louisiana revenue in October fell $242 million from the total for the same month last year, according to a report from the state Department of Revenue.
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November 20, 2024
Neb. Revenue Collection Through Oct. Matches Estimate
Nebraska's total net revenue from July through October was level with estimates, according to the state Department of Revenue.
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November 20, 2024
NY Resident Owes Tax On Bonuses For Work Out Of State
A New York resident who lived out of the country until late 2018 owes state and New York City tax on bonuses and stock units that were paid in 2019 for work done in prior years, the state tax agency said.
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November 20, 2024
Ill. Revenue Through Oct. Beats Forecast By $415M
Illinois' general revenue collection from July through October outpaced a government forecast by $415 million, according to the state Office of Management and Budget.
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November 20, 2024
Va. Furniture Retailer Correctly Taxed, Commissioner Rules
A Virginia furniture retailer that entered a lease agreement with a vendor for the use of product-imaging equipment but failed to remit the required sales and use tax was correctly issued an assessment, the state tax commissioner ruled.
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November 19, 2024
MTC Form Aims To Placate Tax Leery Post-Wayfair Sellers
The Multistate Tax Commission hopes to finalize a form that certifies that marketplace facilitators will collect taxes on behalf of marketplace sellers, a commission director announced Tuesday, saying the document would assuage concerns from sellers who are reluctant to halt their tax responsibilities.
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November 19, 2024
MTC Partnership Group Eyes Sourcing Of Business Income
The Multistate Tax Commission group working on the state taxation of partnerships pondered Tuesday how to source the business income of partnerships, especially those with complex structures.
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November 19, 2024
States Should Revisit Biz HQ Sourcing Rules, MTC Attys Say
States should rethink the concept of sourcing nonbusiness income to where a multistate company is commercially domiciled, Multistate Tax Commission attorneys suggested Tuesday, saying the expansion of remote work has made it more difficult to pin down where some companies' operations are headquartered.
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November 19, 2024
Ohio Board OKs Income Approach In Two Theater Valuations
Two Ohio movie theaters should be valued using the income approach to valuation applied by a county appraiser, the state tax board said in separate rulings involving two counties.
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November 19, 2024
NJ Senate Bill Floats Tax Credits For AI Apprenticeships
New Jersey would provide individual and corporation income tax credits to employers that offer apprenticeships in the artificial intelligence industry under a bill introduced in the state Senate.
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November 19, 2024
Ind. Revenue Through Oct. Falls $243M Short Of Forecast
Indiana general revenue collection from July through October underperformed an estimate by $243 million, according to the state Budget Agency.
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November 19, 2024
Microsoft Asks Ore. Tax Court To Revisit Repatriation Finding
The Oregon Tax Court was wrong in its analysis of Microsoft Corp.'s taxable income in the state when it rejected the company's proposals for alternative treatment of its repatriated foreign earnings, the company said.
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November 19, 2024
NY Tax Collections Through Oct. Up $14B, Department Says
New York's total tax collection from April through October grew $14.13 billion compared with the same period last fiscal year, according to the state Department of Taxation and Finance.
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November 19, 2024
La. Lays Out Documentation Rules For Gains Deductions
Entities that claim a net capital gains deduction in Louisiana need to file copies of their last two returns in the state or states where the income was reported if the gains are over $250,000, the Louisiana Department of Revenue said in a regulation.
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November 19, 2024
Va. Revenue Through Oct. Grows $732M
Virginia's general revenue collection from July through October was $732 million higher than it was during the same period last fiscal year, according to the state Department of Revenue.
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November 19, 2024
Key Takeaways From 2024 In Unclaimed Property Law
Michigan's highest court is set to decide whether the state waited too long to demand that Disney and a restaurant company remit unclaimed property, one of several major developments that could have a role in reshaping a continuously growing field of practice for state tax lawyers. Here, Law360 presents key takeaways from 2024 in unclaimed property law.
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November 18, 2024
Mo. Bank Properly Valued At $1.1M, Commission Rules
A Missouri property that is owned and operated by a bank branch was properly valued at $1.1 million, the state's tax commission ruled, saying the bank's appraiser was not persuasive in her argument that the value should be lowered to $725,000.
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November 18, 2024
Apple, Google Implore Md. Court To End Digital Ad Tax
The Maryland Tax Court doesn't need further evidentiary hearings to reach a decision to strike down the state's digital advertising tax, Peacock, Google and Apple told the court.
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November 18, 2024
Countries Eye Certain Tax Credits To Get Leg Up Under Pillar 2
The international minimum tax agreement known as Pillar Two is changing how countries compete for corporate investment, in part by prompting some governments to retool their tax credit systems in ways that could edge out jurisdictions with fewer resources.
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November 18, 2024
Honolulu Property Class Is Constitutional, Court Affirms
A special Honolulu property class did not violate the state and country's equal protection clause, as a group of consolidated property owners alleged, because the property class served a legitimate policy purpose, the state Intermediate Court of Appeals has affirmed.
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November 18, 2024
Mo. Tax Commission Upholds Storage Facility's $7.4M Value
A Missouri storage facility was properly valued at $7.4 million because the real estate company that owned the facility failed to prove the value should be lowered to $2.7 million, the state tax commission said.
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November 18, 2024
IRS Sinks Arizona's Challenge To Federal Tax On Rebates
A federal judge dismissed Arizona's challenge to the Internal Revenue Service's position that rebates the state paid to taxpayers with dependents in 2023 were subject to federal tax, saying the state lacked standing to bring the case.
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November 18, 2024
Tobacco Co. Asks Justices To Review Ore. Out-Of-State Tax
Actions in Oregon by the wholesale customers of an out-of-state tobacco company do not invalidate the protections in federal law against state taxation, the company told the U.S. Supreme Court, seeking review of an Oregon Supreme Court decision.
Expert Analysis
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Loper Bright Limits Federal Agencies' Ability To Alter Course
The U.S. Supreme Court's recent decision to dismantle Chevron deference also effectively overrules its 2005 decision in National Cable & Telecommunications Association v. Brand X, greatly diminishing agencies' ability to change regulatory course from one administration to the next, says Steven Gordon at Holland & Knight.
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Maryland 'Rain Tax' Ruling May Offer Hope For Tax Credits
A Maryland state appellate court's recent decision in Ben Porto v. Montgomery County echoes earlier case law upholding controversial stormwater charges as a valid excise tax, but it also suggests that potential credits to reduce property owners' liability could get broader in scope, says Alyssa Domzal at Ballard Spahr.
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Lawyers Can Take Action To Honor The Voting Rights Act
As the Voting Rights Act reaches its 59th anniversary Tuesday, it must urgently be reinforced against recent efforts to dismantle voter protections, and lawyers can pitch in immediately by volunteering and taking on pro bono work to directly help safeguard the right to vote, says Anna Chu at We The Action.
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How To Grow Marketing, Biz Dev Teams In A Tight Market
Faced with fierce competition and rising operating costs, firms are feeling the pressure to build a well-oiled marketing and business development team that supports strategic priorities, but they’ll need to be flexible and creative given a tight talent market, says Ben Curle at Ambition.
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Rock Climbing Makes Me A Better Lawyer
Rock climbing requires problem-solving, focus, risk management and resilience, skills that are also invaluable assets in my role as a finance lawyer, says Mei Zhang at Haynes and Boone.
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Think Like A Lawyer: Dance The Legal Standard Two-Step
From rookie brief writers to Chief Justice John Roberts, lawyers should master the legal standard two-step — framing the governing standard at the outset, and clarifying why they meet that standard — which has benefits for both the drafter and reader, says Luke Andrews at Poole Huffman.
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Shake-Ups For Courts In Different Fields: SALT In Review
From the end of Chevron deference in the courts to the planned sale of the NBA's reigning champion, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Kentucky Tax Talk: Appeals Court Revisits Leases' Tax Effects
With better facts and greater emphasis on the Kentucky Constitution, Walgreen Co. may succeed in its latest Kentucky Court of Appeals challenge to a tax assessor's method of valuing leaseholds on real property for purposes of determining ad valorem tax, say Mark Sommer and Elizabeth Ethington at Frost Brown Todd.
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Lead Like 'Ted Lasso' By Embracing Cognitive Diversity
The Apple TV+ series “Ted Lasso” aptly illustrates how embracing cognitive diversity can be a winning strategy for teams, providing a useful lesson for law firms, which can benefit significantly from fresh, diverse perspectives and collaborative problem-solving, says Paul Manuele at PR Manuele Consulting.
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Now More Than Ever, Lawyers Must Exhibit Professionalism
As society becomes increasingly fractured and workplace incivility is on the rise, attorneys must champion professionalism and lead by example, demonstrating how lawyers can respectfully disagree without being disagreeable, says Edward Casmere at Norton Rose.
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Reading Between The Lines Of Justices' Moore Ruling
The U.S. Supreme Court's recent Moore v. U.S. decision, that the Internal Revenue Code Section 965 did not violate the 16th Amendment, was narrowly tailored to minimally disrupt existing tax regimes, but the justices' various opinions leave the door open to future tax challenges and provide clues for what the battles may look like, say Caroline Ngo and Le Chen at McDermott.
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A Midyear Forecast: Tailwinds Expected For Atty Hourly Rates
Hourly rates for partners, associates and support staff continued to rise in the first half of this year, and this growth shows no signs of slowing for the rest of 2024 and into next year, driven in part by the return of mergers and acquisitions and the widespread adoption of artificial intelligence, says Chuck Chandler at Valeo Partners.
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Another Crack In The Shield: SALT In Review
From the latest assault on a federal shield against taxing out-of-state businesses to an update on beer taxes, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.