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Tax
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July 29, 2024
ECJ Nixes Swedish Dividends Tax On Foreign Pension Funds
Sweden can't collect a withholding tax on dividends distributed by Swedish companies to public pension funds abroad while exempting its own public funds because that is inconsistent with European Union law requiring the free movement of capital, the European Court of Justice said Monday.
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July 29, 2024
Clean Energy Tax Credit Sales Could Hit $25B, Report Says
Total sales of clean energy tax credits could reach as high as $20 billion to $25 billion this year, signaling a flourishing marketplace for credit sales authorized by the 2022 climate law, according to a midyear report released Monday by a climate tech startup firm.
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July 29, 2024
DC Taxes Due From Property Transfer Prior To Sale
A business that sold a commercial property in Washington, D.C., was properly assessed back taxes for a 2007 merger with a subsidiary, the District of Columbia Court of Appeals ruled.
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July 29, 2024
'Survivor' Winner Says He's Vulnerable In $3M Tax Battle
The winner of the first "Survivor" television season told a Rhode Island federal court Monday that the government was unfairly painting him as flouting nearly $3.3 million in federal tax liabilities stemming from his $1 million cash prize, saying he was "ill-equipped to battle prosecutors."
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July 29, 2024
EU's Highest Court Upholds Disclosure Law
The European Union's highest court on Monday upheld the bloc's law requiring tax advisers to report potentially aggressive cross-border tax arrangements, rejecting a challenge from Belgian tax attorneys who said their country's implementation of the EU's DAC6 law violated European law.
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July 26, 2024
Off The Bench: NBA Signs Mega Deals, Jerry Jones Settles
In this week's Off The Bench, the NBA signed $77 billion worth of telecast and streaming deals while longtime league broadcaster TNT challenged the decision, Jerry Jones' suit against his alleged daughter settled while jurors were at lunch, and Pennsylvania's high court agreed to hear an appeal relating to Pittsburgh's jock tax, a fee applied to nonresident professional athletes.
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July 26, 2024
G20 Declines To Back Brazil's Plan For A Minimum Wealth Tax
Finance ministers from the Group of 20 nations declined to back Brazil's proposal for an agreement on individual wealth taxation similar to the global corporate minimum tax, instead issuing a statement Friday that opted for softer language about cooperation.
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July 26, 2024
Biz Groups Call Corp. Transparency Act Unconstitutional
The U.S. government has failed to show how the Corporate Transparency Act meets narrow exceptions to the Fourth Amendment's search warrant requirements, a group of small businesses told a Michigan federal court Friday in contending that the statute is unconstitutional.
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July 26, 2024
Ind. Tax Court Says Tax Cap Acre Limitation Unconstitutional
The Indiana Constitution doesn't permit a fixed 1-acre limitation on land eligible for the state's 1% property tax cap, the state tax court said, siding with a couple who argued their entire property qualified for the cap.
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July 26, 2024
Two Admit Trying To Bribe IRS Official On China's Behalf
Two people admitted to secretly acting on behalf of the Chinese government and bribing an undercover agent in connection with a scheme to revoke the tax-exempt status of U.S. participants in a spiritual practice banned in China, according to New York federal court filings.
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July 26, 2024
Uber Accused Of Illegally Charging Tax On Delivery Fees
Uber illegally collects sales tax on food delivery fees in Florida, a customer claimed in a proposed class action removed to federal court, saying the company cannot charge the tax if customers have the option of picking up the order themselves.
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July 26, 2024
Ohio McDonald's Properly Valued At $1.9M, Board Says
An Ohio McDonald's was properly valued at $1.9 million by the county appraiser, the state Board of Tax Appeals ruled Friday, rejecting the business's bid to have the value lowered to $1.18 million.
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July 26, 2024
Taxation With Representation: Wachtell, Polsinelli, Kirkland
In this week's Taxation With Representation, T-Mobile partners with KKR to acquire Metronet, Exclusive Networks gets a takeover offer, KKR buys Instructure Holdings Inc., and Bally's Corp. merges with The Queen Casino & Entertainment Inc.
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July 26, 2024
EU Frees Up €1.5B Of Frozen Russian Assets To Aid Ukraine
The European Union's executive branch said Friday that it is freeing up €1.5 billion ($1.6 billion) of revenue generated from immobilized Russian assets to aid Ukraine in defending itself against the Russian invasion.
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July 25, 2024
Trump Judge Won't Exit Over 'Nothingburger' Atty Encounter
The New York judge who ordered Donald Trump to pay $465 million in penalties in his civil fraud case Thursday rejected the former president's demand that he step down from the case, saying a brief hallway encounter with an attorney acquaintance was a "nothingburger" that did not influence his decision.
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July 25, 2024
DA Says Trump Immunity Ruling Doesn't Affect NY Convictions
Manhattan District Attorney Alvin Bragg told a New York judge Thursday that the U.S. Supreme Court's presidential immunity ruling has no bearing on Donald Trump's conviction in his hush-money case since the charges relate to unofficial acts.
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July 25, 2024
Conn.'s Added Tax On Warranties Called Double Taxation
The Connecticut state tax commissioner's levy of an additional tax on extended vehicle warranties connected to out-of-state vehicle sales is double taxation because the warranties are already taxed by the buyer's home state, a Connecticut-based auto wholesaler told a state trial court.
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July 25, 2024
Ohio Board Incorrectly Calculated Land, Improvement Value
An Ohio warehouse property had its land value incorrectly increased to $1.2 million, from $715,000, a state appeals court ruled Thursday after finding no evidence was presented that warranted a change in its value.
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July 25, 2024
Ex-Conn. Tax Official Cites 'Just Cause' To Challenge Firing
A former high-level legal director at the Connecticut Department of Revenue Services has asked the state's intermediate appellate court to reverse her termination, saying the agency, an employment review board and a state trial court judge all failed to apply "just cause" standards to her firing as a managerial worker.
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July 25, 2024
Senate Confirms First Tax Court Judge Since 2020
The U.S. Senate on Thursday confirmed a U.S. Tax Court judge for the first time since 2020.
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July 25, 2024
Clark Hill Adds Tax And Estate Atty From Plunk Smith In Texas
A former Plunk Smith PLLC senior associate jumped to Clark Hill in Collin County, Texas, to serve as a member in the tax and estate planning practice, the firm announced Thursday.
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July 25, 2024
IRS, Zaxby's Co-Founder To Settle $43M Easement Suit
The Internal Revenue Service agreed to settle a $43 million valuation dispute over a conservation easement donated by the co-founder of the Zaxby's restaurant chain and his wife, prompting a Georgia federal court Thursday to cancel next month's anticipated jury trial.
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July 25, 2024
Vanguard Opposes Investors' Cert. Bid In Tax Liability Suit
A group of investors accusing Vanguard of violating its fiduciary duties by triggering a sell-off of assets that left smaller investors with massive tax bills shouldn't be granted class certification, the asset manager told a Pennsylvania federal court.
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July 25, 2024
Illinois Gov. Pritzker Touts State's Pot Law As Equity Model
Illinois Gov. J.B. Pritzker on Thursday spoke to a conference of cannabis attorneys and touted his state's recreational marijuana market as a model for equity in business ownership and criminal justice reform that other jurisdictions could follow.
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July 25, 2024
Ore. Court Won't Toss Law Capping Taxable Home Values
A homeowner's attempt to lower the taxable value of his property was denied by the Oregon Tax Court, which said it did not have the authority to determine whether a law capping annual taxable value increases for some properties was unconstitutional.
Expert Analysis
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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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IRS Proposal May Help Clarify Donor-Advised Fund Excise Tax
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.
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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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Opinion
A Telecom Attorney's Defense Of The Chevron Doctrine
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.
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Attorneys Have An Ethical Duty To Protect The Judiciary
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.
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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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What To Expect After Colo. Nixes Special Standing Rules
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.
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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.
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How Fla. Bankruptcy Ruling May Affect Equity Owners
A Florida bankruptcy court’s recent ruling in Vital Pharmaceuticals — which rejected the Third Circuit’s Majestic Star decision that determined a bankrupt corporation’s flow-through status was not protected by the automatic stay — may significantly affect how equity owners can mitigate the impact of flow-through structures in bankruptcy, say Eric Behl-Remijan and Natasha Hwangpo at Ropes & Gray.
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What Ariz. Ruling Means For Taxation Of Digital Services
The Arizona Supreme Court recently declined to review ADP v. Arizona Department of Revenue, letting stand a state appeals court's ruling that software as a service is a taxable rental of tangible personal property, essentially granting the department of revenue power to tax all digital services, say Karen Lowell and Pat Derdenger at Lewis Roca.