Tax

  • May 29, 2024

    NY Jury Eyes Trump Tower 'Conspiracy' As Deliberations Start

    Jurors in Donald Trump's criminal hush money trial ended their first day of deliberations Wednesday without a verdict, as the panel appeared to home in on testimony about a key 2015 meeting where the alleged scheme was hatched.

  • May 29, 2024

    Kansas Gov. Sets June Special Session On Taxes

    The Republican-led Kansas Legislature will meet in a special session June 18 to consider tax relief legislation, the state's governor said Wednesday, calling for compromise following her veto of a bill to reduce income tax rates.

  • May 29, 2024

    Colombian Court Affirms Fossil Fuel Tax Break Must Stay

    The Constitutional Court of Colombia affirmed its decision to strike down a law denying fossil fuel companies the ability to offset corporate income tax liabilities with deductions for royalty payments despite a severe impact to public finances, the country's president said.

  • May 29, 2024

    Ind. Tax Court Says Hotel In Construction Was Fairly Assessed

    An Indiana hotel that was under construction in 2010 was properly assessed despite claims that the county assessor had not assessed all unfinished commercial properties equally, the state tax court ruled.

  • May 29, 2024

    Baker McKenzie Grows Tax Practice With Ex-KPMG Adviser

    Baker McKenzie announced the hiring of an experienced Chicago-based tax adviser as a principal who most recently spent sixteen and a half years at Big Four accounting firm KPMG.

  • May 29, 2024

    Colo. Creates Tax Credit For Creative Industries Infrastructure

    Colorado established a state income tax credit for capital improvement projects that support creative industries, under legislation signed by Gov. Jared Polis.

  • May 29, 2024

    Coverage Recap: Day 1 Of Deliberations In Trump's NY Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from the first day of deliberations Wednesday.

  • May 29, 2024

    Treasury Details Which Tech Would Get Clean Energy Credits

    Treasury released proposed rules Wednesday outlining which technologies would qualify for new zero-emission energy tax credits, saying wind, solar and geothermal are among those that would make the cut.

  • May 29, 2024

    Three EU Countries Urge Tax Reform To Boost Investment

    Three smaller European Union countries, Austria, Croatia and Slovenia, are backing tax reforms in the 27-country bloc to support investment in capital markets, including exemptions from capital gains tax for long-term retail investment products, according to a joint declaration.

  • May 28, 2024

    Google, Meta Can Arbitrate H&R Block User's Tax Data Suit

    A California federal judge on Friday ruled that a man who was previously instructed to arbitrate his proposed class action alleging that H&R Block shared private data must also arbitrate claims against Google and Meta Platforms Inc., saying the allegations against the two technology companies are closely connected to those against H&R Block.

  • May 28, 2024

    Trump Atty Calls Cohen 'MVP Of Liars' As NY Trial Closes

    Donald Trump's counsel repeatedly assailed the credibility of star witness Michael Cohen Tuesday in a final pitch to the New York jury that will decide whether to convict the former president of falsifying business records, calling Cohen "an MVP of liars" and "the human embodiment of reasonable doubt."

  • May 28, 2024

    Biz Groups Back BofA In Merger Interest Tax Fight At 4th Circ.

    Business groups told the Fourth Circuit on Tuesday that they supported Bank of America in its fight against a North Carolina federal court ruling that found the bank wasn't entitled to net the interest on the tax liabilities of Merrill Lynch after the two companies merged.

  • May 28, 2024

    Ex-NRA CFO Settles NY AG Suit Before Phase-Two Trial

    The National Rifle Association's former chief financial officer has reached a settlement with the New York attorney general's office ahead of the second phase of a trial over claims the group and its executives misused donor money, among other alleged misconduct.

  • May 28, 2024

    Wisconsin Atty Gets 5½ Years For $2.3M Fraud, Tax Evasion

    An attorney licensed in Wisconsin has been sentenced to 5½ years in federal prison and ordered to pay around $2.3 million in restitution for her involvement in multiple fraud schemes, the U.S. Department of Justice announced Tuesday.

  • May 28, 2024

    Coverage Recap: Day 17 Of Trump's NY Hush Money Trial

    Law360 reporters are providing live updates from the Manhattan criminal courthouse as Donald Trump goes on trial for allegedly falsifying business records related to hush money payments ahead of the 2016 election. Here's a recap from day 17.

  • May 28, 2024

    Tax Lawyer Rejoins Mayer Brown In DC From Latham

    Mayer Brown LLP has rehired a tax partner from Latham & Watkins LLP, who joins the firm in Washington, D.C., to continue working with clients to best utilize renewable energy tax credits, the firm announced Tuesday.

  • May 28, 2024

    9th Circ. Won't Touch IRS Bid For Tax Liability On Bookie

    A bookie who pled guilty to helping run an illegal sports gambling ring out of Peru can't escape his ensuing $100,000 tax liability under a Ninth Circuit ruling that declined to expunge his conviction after he argued the taxes are disproportionately punishing.

  • May 28, 2024

    Colo. Creates Tax Credits For Agricultural Stewardship

    Colorado farms and ranches that use certain agricultural stewardship practices will be eligible for tax credits of up to $300,000 under legislation signed into law by Gov. Jared Polis.

  • May 24, 2024

    5 Themes That Could Determine Trump's NY Criminal Trial

    With closing arguments set for Tuesday morning in Donald Trump's New York hush money case and deliberations on the horizon, here's a look at the themes that have dominated the historic, monthlong trial so far.

  • May 24, 2024

    Biden's Judicial Impact And What's Left On The Wish List

    President Joe Biden secured confirmation of his 200th federal judge Wednesday and has transformed the judiciary by picking more women and people of color than any other president. But the upcoming election season could derail his hopes of confirming many more judges.

  • May 24, 2024

    Court Upholds Limit To Award In Ecopetrol, Texas Co. Dispute

    An arbitration tribunal was within its authority to limit the number of years and the amount that a Houston-based oil company had to reimburse Colombia's state-owned entity, Ecopetrol, for the value-added tax liability of a subsidiary while owned by the company, a New York federal judge determined.

  • May 24, 2024

    CohnReznick Adds Tax Planning Partner From Mazars

    CohnReznick LLP added a top accountant and tax partner from Mazars USA LLP to its roster of tax professionals, the firm announced.

  • May 24, 2024

    IRS Corrects Notice On Bonus Energy Tax Credit Safe Harbors

    The Internal Revenue Service and U.S. Department of the Treasury issued a correction Friday to a notice providing additional safe harbors that clean energy project developers can use to qualify for bonus tax credits for domestically sourcing their steel and aluminum parts.

  • May 23, 2024

    NC Justices Back Manufacturer Tax Break For Contractor

    The North Carolina Supreme Court on Thursday backed a $130,000 tax break for an asphalt maker, upholding a lower court's decision that the company qualified for an exemption reserved for manufacturers even though it sold just a small portion of its product.

  • May 23, 2024

    Ill. Justices OK $28M Tax Value Appeal Without Payment

    A power company's property in Illinois was not required to pay disputed property taxes before appealing a valuation, the Illinois Supreme Court affirmed Thursday, upholding a reduction in the assessment of about $28 million.

Expert Analysis

  • Industry Must Elevate Native American Women Attys' Stories

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    The American Bar Association's recent research study into Native American women attorneys' experiences in the legal industry reveals the glacial pace of progress, and should inform efforts to amplify Native voices in the field, says Mary Smith, president of the ABA.

  • A Year-End Look At Florida's Capital Investment Tax Credit

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    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.

  • Understanding Discovery Obligations In Era Of Generative AI

    Excerpt from Practical Guidance
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    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.

  • The Case For Post-Bar Clerk Training Programs At Law Firms

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    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.

  • IRS Proposal May Help Clarify Donor-Advised Fund Excise Tax

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    Recently proposed regulations provide important clarifications of the Internal Revenue Code's excise tax on donor-advised fund distributions by providing detailed definitions of key terms and addressing some of the open issues related to their operation and administration, say attorneys at Morgan Lewis.

  • Ohio Voters Legalize Cannabis — What Comes Next?

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    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.

  • Opinion

    A Telecom Attorney's Defense Of The Chevron Doctrine

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    The Chevron doctrine, which requires judicial deference to federal regulators, is under attack in two U.S. Supreme Court cases — and while most telecom attorneys likely agree that the Federal Communications Commission is guilty of overrelying on it, the problem is not the doctrine itself, says Carl Northrop at Telecommunications Law Professionals.

  • Attorneys Have An Ethical Duty To Protect The Judiciary

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    The tenor of public disagreement and debate has become increasingly hostile against judges, and though the legislative branch is trying to ameliorate this safety gap, lawyers have a moral imperative and professional requirement to stand with judges in defusing attacks against them and their rulings, says Deborah Winokur at Cozen O'Connor.

  • Mo. Solar Projects Need Clarity On Enterprise Zone Tax Relief

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    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.

  • AI Can Help Lawyers Overcome The Programming Barrier

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    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.

  • What To Expect After Colo. Nixes Special Standing Rules

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    Two recent Colorado Supreme Court decisions have abandoned a test to preclude standing in lawsuits challenging government decisions brought by subordinate government entities, which will likely lead to an admixture of results, including opening the door to additional legal challenges between government entities, says John Crisham at Crisham & Holman.

  • Preparing Law Students For A New, AI-Assisted Legal World

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    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.

  • General Counsel Need Data Literacy To Keep Up With AI

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    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.

  • Kentucky Tax Talk: Clash Over Industrial Supplies Exemption

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    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.

  • Navigating Discovery Of Generative AI Information

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    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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