State & Local
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June 04, 2024
NJ Panel Advances Pilot Program For Prefilled Tax Returns
New Jersey aims to create a pilot program that would allow the state's tax agency to prepare prefilled personal income tax return forms for certain taxpayers under a bill approved by an Assembly committee.
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June 04, 2024
First Citizens Bank Seeks $15M Tax Refund After Bailout
First Citizens bank is seeking a $15 million refund from the North Carolina Department of Revenue stemming from taxes it paid on a federal bailout it received during the mid-2000s financial crisis, according to a filing in the state court.
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June 04, 2024
Pa. Urged To Increase NOL Cap By Chambers Of Commerce
A group of 70 chambers of commerce in Pennsylvania urged state leaders to increase the state's cap on net operating loss deductions, which is currently capped at 40%.
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June 04, 2024
NY Senate OKs 'Noise Tax' On NYC Helicopter Rides
New York state aims to impose a tax on some helicopter and seaplane rides in New York City in a bid to clamp down on noise pollution as part of a bill passed by the state Senate.
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June 04, 2024
Calif. OTA Denies Couple Extra Worthless Stock Deduction
A California couple failed to demonstrate that they were entitled to a greater income tax deduction for worthless stock than the state Franchise Tax Board allowed, the state Office of Tax Appeals said in an opinion released Tuesday.
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June 04, 2024
W.Va. Revenue Through May Up $618M From Estimates
West Virginia revenue collections from July through May were $618 million over government estimates, according to the state Budget Office.
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June 04, 2024
Calif. OTA Rejects Couple's Claim Of Bolivia Residency
A California couple owes additional state income tax on a retirement account distribution, the state Office of Tax Appeals said in an opinion released Tuesday, rejecting the pair's assertion that they were domiciled in Bolivia at the time.
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June 04, 2024
Colo. Orders Disclosure Of Info On Local Property Tax Levies
Local jurisdictions in Colorado will be required to provide certain information about their property tax levies under legislation signed into law by Democratic Gov. Jared Polis.
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June 03, 2024
Treasury Aims To Salvage Corp. Transparency Act At 11th Circ.
The Corporate Transparency Act is a valid exercise of congressional authority to curb money laundering under the commerce clause and the necessary and proper clause in the Constitution, the U.S. Treasury Department told the Eleventh Circuit on Monday in a bid to restore the law's reporting requirements.
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June 03, 2024
Missouri Judge OKs Cannabis Tax By Both City And County
Both a city in Missouri and the county that surrounds it can collect a tax on marijuana dispensaries, a state circuit judge found.
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June 03, 2024
RI Panel OKs Providence Unrestricted Property Tax Rates
Rhode Island would allow the city of Providence to adopt a classification system that allows for unrestricted tax rates for the city's property classes under a bill moved to the Senate floor for consideration.
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June 03, 2024
Pa. Bill Seeks Broader Discount For Timely Sales Tax Filers
Pennsylvania would expand a discount for businesses that file sales and use tax on time under a bill introduced in the state Senate.
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June 03, 2024
Ohio Floats Draft Rule For Administration Of Cannabis Tax
Ohioans who pay cannabis tax would be able to file for a refund of erroneously paid taxes by filling out a form with the state tax commissioner, the Department of Taxation clarified in a draft rule.
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June 03, 2024
Colo. Creates Income Tax Credit For Eligible Care Workers
Colorado is creating an income tax credit for care workers totaling $1,200 for individuals and $2,400 for joint filers starting next year as part of a bill signed by Democratic Gov. Jared Polis.
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June 03, 2024
DC Settles Tax Fraud Suit Against Tech Co. Founder For $40M
The District of Columbia will collect $40 million from the founder of a technology and bitcoin holding company to settle a whistleblower complaint that alleged tax fraud, the district's attorney general said Monday.
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June 03, 2024
Taxes Take Center Stage In Pot Industry Amid Fed. Policy Shift
The federal government's move to loosen restrictions on cannabis is expected to trigger a wave of mergers and acquisitions structured as asset deals in the industry, especially among struggling retail operations willing to restructure in order to raise profits and lower their tax liabilities.
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June 03, 2024
Conn. To Require Interest Waivers For Some Delinquent Taxes
Connecticut will require municipal tax collectors to waive interest on delinquent property taxes when the delinquency is determined to be due to a mistake by a tax collector or assessor and not the taxpayer's fault under a bill signed by the governor.
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June 03, 2024
Ohio Property Sale Price Not Timely Enough To Raise Value
An Ohio property made up of four lots was properly valued and should not have its value increased based on a 2017 sale, because the sale was not timely, the state Board of Tax Appeals ruled.
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June 03, 2024
La. Tax Board Granted Authority To Call Virtual Hearings
The Louisiana Board of Tax Appeals is now able to hold virtual hearings under a bill signed by the governor.
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June 03, 2024
Minn. Tax Court Lowers Home Value Over Native Burial Mound
The valuation of a lakeside parcel including a legally protected Native American burial mound must be lowered because a split of the property as envisioned by assessors would have been unlikely to gain the needed approvals, the Minnesota Tax Court said.
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June 01, 2024
Blockbuster Summer: 10 Big Issues Justices Still Must Decide
As the calendar flips over to June, the U.S. Supreme Court still has heaps of cases to decide on issues ranging from trademark registration rules to judicial deference and presidential immunity. Here, Law360 looks at 10 of the most important topics the court has yet to decide.
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May 31, 2024
Fla. To Allow Reimbursement Of Trust Owners For Taxes Paid
Florida will allow fiduciaries to reimburse owners of certain trusts for income taxes paid under a bill signed by Republican Gov. Ron DeSantis.
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May 31, 2024
Colo. Establishes Middle-Income Housing Tax Credits
Colorado is creating a pilot program to provide a tax credit for developers of housing aimed at middle-income residents under a bill signed into law by Gov. Jared Polis.
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May 31, 2024
Water Services Co. Asks NJ Court For $1.3M Sales Tax Refund
A water services company told the New Jersey Tax Court it was wrongly denied a sales and use tax refund of nearly $1.3 million, saying its claims were timely filed and the transactions at issue were not taxable.
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May 31, 2024
Calif. High Court Affirms Biz Transfer Was Ownership Change
A California corporation that transferred its ownership of two grocery stores to a trust that held all the corporation's voting stock constituted a change in the properties' ownership, allowing their assessed value to be doubled to $10 million, the state's top court affirmed.
Expert Analysis
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5 Trends To Watch In Property And Casualty Class Actions
In 2023, class action decisions have altered the landscape for five major types of claims affecting property and casualty insurers — total loss vehicle valuation, labor depreciation, other structural loss estimating theories, total loss vehicle tax and regulatory fees, and New Mexico's uninsured and underinsured motorist coverage sale requirements, say Mark Johnson and Mathew Drocton at BakerHostetler.
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A Bold Idea And A Striking Disregard: SALT In Review
From a far-reaching proposal in Nebraska to a Minnesota government agency's disregard of case law, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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5 Traps To Avoid When Selling CRE In Las Vegas Area
When dealing with commercial real estate in Clark County, Nevada — which includes the Las Vegas metro area — even sophisticated sellers may be ensnared by a myriad of tricky issues, ranging from transfer tax nuances to arbitration laws, says Chris Walther at Fennemore Craig.
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How Clients May Use AI To Monitor Attorneys
Excerpt from Practical Guidance
Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.
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The Pop Culture Docket: Judge D'Emic On Moby Grape
The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.
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Breaking Down High Court's New Code Of Conduct
The U.S. Supreme Court recently adopted its first-ever code of conduct, and counsel will need to work closely with clients in navigating its provisions, from gift-giving to recusal bids, say Phillip Gordon and Mateo Forero at Holtzman Vogel.
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Legal Profession Gender Parity Requires Equal Parental Leave
To truly foster equity in the legal profession and to promote attorney retention, workplaces need to better support all parents, regardless of gender — starting by offering equal and robust parental leave to both birthing and non-birthing parents, says Ali Spindler at Irwin Fritchie.
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'Manufacturing' Amid Mass. Adoption Of Single-Sales Factor
Massachusetts’ recent adoption of single-sales-factor apportionment will benefit companies that have a greater in-state physical presence, reinforce the importance of understanding market-sourcing rules, and reduce the manufacturing classification's importance to tax apportionment, though the classification continues to be significant to other aspects of taxation, say attorneys at McDermott.
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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.