State & Local
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January 21, 2025
Ill. Senate Bill Seeks Tax Deduction For OT Wages
Illinois would create an individual income tax deduction for overtime wages under a bill introduced in the state Senate.
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January 21, 2025
Ariz. General Fund Revenue $244M Above Projections
Arizona's total general fund collection from July through December surpassed budget estimates by $244 million, according to the state's Joint Legislative Budget Committee.
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January 21, 2025
Md. Bill Seeks High Earner Tax, Water's-Edge Reporting
Maryland would impose a new tax rate on high earners, adopt combined water's-edge corporate tax reporting and lower its corporate tax rate under legislation introduced in the House of Delegates to enact proposals by the governor.
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January 21, 2025
Tribal Tax Status Regs Leave Energy Credit Access Up In Air
While recently proposed regulations would provide long-awaited clarity that enterprises wholly owned by Native American tribes are exempt from federal taxes, the rules leave glaring questions open about whether tribes can access clean energy tax credits through business structures like joint ventures.
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January 21, 2025
Ariz. Gov. Seeks Extension Of Low-Income Housing Tax Credit
Arizona would extend its low-income housing tax credit for six years under the fiscal year 2026 budget proposal by Gov. Katie Hobbs.
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January 21, 2025
RI Gov. Proposes Digital Ad Tax, R&D Credit Expansion
Rhode Island would levy a tax on digital advertisement services and double the number of years businesses can claim research and development expense tax credits as part of the governor's fiscal year 2026 budget proposal.
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January 21, 2025
Hawaii Bill Seeks Tax Credit For Wind-Resistant Retrofitting
Hawaii would create an income tax credit for up to $40,000 for the cost of wind-resistant retrofitting of a home under a bill introduced in the state House of Representatives.
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January 21, 2025
Hawaii House Bill Would Offer Deduction For Tips
Tipped employees in Hawaii would be able to deduct the amount made in tips from their taxable income under a bill introduced in the state House of Representatives.
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January 21, 2025
Illinois Senate Bill Seeks Income Tax Deduction For Tips
Illinois would create an income tax deduction for gratuities that are included in a taxpayer's federal adjusted gross income under a bill introduced in the state Senate.
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January 21, 2025
NY Tax Collection Through Dec. Up $5B, Dept. Says
New York's total state tax collection from July through December was roughly $5 billion higher than during the same period last fiscal year, according to the state Department of Taxation and Finance.
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January 21, 2025
Hawaii Bill Would Reduce Some Income Taxes In Oahu
Hawaii would reduce income taxes for residents of one part of the island of Oahu under a two-year pilot program in legislation proposed in the state House of Representatives.
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January 21, 2025
Justices Decline To Review NY Tax On IBM, Disney Royalties
The U.S. Supreme Court declined Tuesday to hear claims from Disney and IBM that New York's former method of taxing royalty payments from foreign affiliates resulted in unconstitutional discrimination against interstate commerce.
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January 17, 2025
Law360 Names Practice Groups Of The Year
Law360 would like to congratulate the winners of its Practice Groups of the Year awards for 2024, which honor the attorney teams behind litigation wins and significant transaction work that resonated throughout the legal industry this past year.
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January 17, 2025
Law360 Names Firms Of The Year
Eight law firms have earned spots as Law360's Firms of the Year, with 54 Practice Group of the Year awards among them, steering some of the largest deals of 2024 and securing high-profile litigation wins, including at the U.S. Supreme Court.
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January 17, 2025
Wash. Bill Would End B&O Tax Credit, Add Gains Tax Credit
Washington state would replace a credit for business and occupation taxes due on a sale or exchange that also is subject to the state's capital gains tax with a credit for taxes on gains that also are subject to B&O taxes, under a bill introduced in the state Senate.
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January 17, 2025
COST Pans Maine's Receipt Sourcing Change For Cos.
Maine's plan to change its apportionment methodology from sourcing business receipts where services are received to where they are acquired or experienced overreaches from what lawmakers had originally intended, the Council on State Taxation said Friday.
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January 17, 2025
Hawaii Bill Would Increase Capital Gains Tax On Some Filers
Hawaii would increase the state's capital gains tax for nonresidents and foreign taxpayers under a bill introduced in the state House of Representatives.
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January 17, 2025
Hawaii Bill Would Bar Excise Tax On Assistance-Eligible Food
Hawaii would exempt food that is eligible for purchase using assistance programs from the state excise tax under a bill introduced in the state House of Representatives.
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January 17, 2025
Minn. Gov. Calls For Trimming Sales Tax, Adding It To Services
Minnesota would shave its sales tax rate but apply it to professional services under a biennial budget proposal by Gov. Tim Walz.
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January 17, 2025
Hawaii House Bill Seeks Higher Tax Rate, Exemption Level
Hawaii would exempt single filers with $100,000 or less in taxable income from the state's income tax and increase the top tax rate under a bill filed in the state House of Representatives.
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January 17, 2025
Hawaii Bill Seeks To Make Renter Tax Credit Permanent
Hawaii would make its renters tax credit permanent and change the credit's amounts under a bill introduced in the state House of Representatives.
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January 17, 2025
Hawaii Bill Would End Mortgage Deduction For 2nd Homes
Hawaii would put an end to its state tax deduction for mortgage interest on second homes under a bill introduced in the state Senate.
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January 17, 2025
Hawaii House Bill Seeks Worldwide Combined Reporting
Hawaii would impose a mandatory worldwide combined reporting system for corporations effective next year under a bill filed in the state House of Representatives.
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January 17, 2025
Minn. Sen. Bill Seeks Sales Tax Break For Food Service Gear
Minnesota would exempt food service preparation equipment from sales and use taxes under legislation introduced in the state Senate.
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January 17, 2025
Minn. Senate Bill Would Repeal Healthcare Provider Taxes
Minnesota would eliminate its 1.8% tax on various healthcare providers and services under legislation introduced in the state Senate.
Expert Analysis
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A Tale Of 2 Trump Cases: The Rule Of Law Is A Live Issue
The U.S. Supreme Court’s decision this week in Trump v. U.S., holding that former President Donald Trump has broad immunity from prosecution, undercuts the rule of law, while the former president’s New York hush money conviction vindicates it in eight key ways, says David Postel at Henein Hutchison.
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Industry Self-Regulation Will Shine Post-Chevron
The U.S. Supreme Court's Loper decision will shape the contours of industry self-regulation in the years to come, providing opportunities for this often-misunderstood practice, says Eric Reicin at BBB National Programs.
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Less Power To The People: SALT In Review
Starting with a measure that won't appear on the California ballot in November, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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6 Tips For Maximizing After-Tax Returns In Private M&A Deals
With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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Recruitment Trends In Emerging Law Firm Frontiers
BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.
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Money, Money, Money: Limiting White Collar Wealth Evidence
As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.
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Firms Must Rethink How They Train New Lawyers In AI Age
As law firms begin to use generative artificial intelligence to complete lower-level legal tasks, they’ll need to consider new ways to train summer associates and early-career attorneys, keeping in mind the five stages of skill acquisition, says Liisa Thomas at Sheppard Mullin.
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Think Like A Lawyer: Always Be Closing
When a lawyer presents their case with the right propulsive structure throughout trial, there is little need for further argument after the close of evidence — and in fact, rehashing it all may test jurors’ patience — so attorneys should consider other strategies for closing arguments, says Luke Andrews at Poole Huffman.