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Business Taxes

Cooley LLP

Proposed Tax Legislation Would Permit Immediate Deduction of Domestic R&E Expenditures for Limited Period

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On May 22, 2025, the US House of Representatives passed the “One Big Beautiful Bill Act” (OBBBA), which includes a temporary suspension of the amortization requirement for domestic research and experimentation (R&E)...more

Amundsen Davis LLC

Does My Company Qualify for Wisconsin’s Voluntary Disclosure Program?

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Taxes and their applicable laws can be confusing for even the most savvy businesspeople. For any number of reasons, businesses and individuals fall out of compliance with tax reporting requirements and become exposed to...more

Whiteford

Client Alert: Inside the One Big Beautiful Bill Crucial Tax Updates for Individuals, Business Owners, and Nonprofits

Whiteford on

On May 22, 2025, the House of Representatives passed H.R. 1-119th Congress (2025-2026), titled as the “One, Big, Beautiful Bill Act” (the “Act”), a budget bill that, among other things, addresses soon to sunset provisions of...more

Baker Botts L.L.P.

"The One Big Beautiful Bill" Key Tax Takeaways

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On May 22, 2025, the House passed the legislation entitled “The One Big Beautiful Bill” (the “BBB”). The BBB makes permanent, extends and, in certain cases, modifies, a number of provisions from the 2017 Tax Cuts and Jobs Act...more

Orrick, Herrington & Sutcliffe LLP

Washington State enacts provisions to allow companies to deduct interchange fees

On May 20, the governor of Washington State signed into law HB 2020 which amends the state’s tax laws to exclude interchange fees from the business and occupation tax. The legislation stemmed from a lawsuit where a company...more

Skadden, Arps, Slate, Meagher & Flom LLP

The One Big Beautiful Bill Act: An Initial Analysis of Key Tax Proposals

On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act (OBBBA). Tax-related proposals contained in the OBBBA would extend or make permanent select corporate, international and individual tax...more

Steptoe & Johnson PLLC

Tax Reform is Underway

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Will America celebrate the Fourth of July with the passage of major tax reform? On May 22, House Republicans passed the “One Big Beautiful Bill Act” under the budget reconciliation process. This marks a significant milestone...more

A&O Shearman

Summary of key provisions in House reconciliation bill

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On May 22, 2025, the U.S. House of Representatives narrowly passed the House budget reconciliation bill (H.R. 1) (the “House Bill”) by a party-line vote of 215 – 214. The House Bill, which includes significant tax law...more

Sullivan & Worcester

How REITs are Impacted by the “One Big Beautiful Bill Act”

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The U.S. House of Representatives, by a one-vote margin, passed the “One Big Beautiful Bill Act” (the “House Bill”) early in the morning on May 22, 2025. The House Bill has yet to be considered by the U.S. Senate and will...more

Stoel Rives LLP

2025 Washington Tax Legislation Wrap-up

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Faced with a projected $16 billion deficit over the next four years, Washington Governor Bob Ferguson formally signed into law on May 20, 2025, a $78 billion 2025-2027 state biennial operating budget and a final tax package...more

Bradley Arant Boult Cummings LLP

Alabama Legislature Wraps Up Productive Session on Business Tax Bills

The Alabama Legislature adjourned sine die near midnight on May 14, 2025, with the final legislative meeting day bogged down with filibusters by certain senators. Fortunately, a spate of tax bills had already passed both the...more

Holland & Knight LLP

Podcast - Betty… ¿y si nos vamos a la reorganización?

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En este episodio de "A Lo Legal En Par Minutos", el socio Edwin Cortés y Natalia Cuberos, abogada corporativa, conversan sobre la insolvencia empresarial utilizando ejemplos de la telenovela "Betty la Fea". Explican cómo, en...more

Eversheds Sutherland (US) LLP

The worst of the worst: Washington expands its B&O and sales taxes

On May 20, 2025, the last day for bill signing, Washington Governor Ferguson signed two key tax bills that expand the sales tax to include additional services and increase the rates of the (awful) business and occupation...more

Ballard Spahr LLP

WA Estate and Capital Gains Tax Changes Under SB 5813

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Facing a projected budget deficit of $12 to $16 billion, Governor Bob Ferguson signed several bills into law this week which will significantly increase taxes in Washington State. An overview of the increases to Business and...more

Pillsbury Winthrop Shaw Pittman LLP

Breaking Down the “Big, Beautiful Bill”: Priorities and Provisions in the Proposed 2025 Federal Income Tax Legislation

This Pillsbury alert provides an overview of the “Big Beautiful Bill” (BBB) as passed by the House Ways & Means Committee on Sunday, May 18, 2025. The overview breaks the bill into three main sections: Changes Affecting...more

Ballard Spahr LLP

Washington State Passes Significant Tax Increases Affecting Both Businesses and Consumers

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Sweeping legislative changes are reshaping Washington state’s tax landscape. On May 20, 2025, Washington’s governor signed legislation significantly increasing the Business and Occupation (B&O) tax, sales tax, and more,...more

Eversheds Sutherland (US) LLP

Tax Bytes: Week of May 19, 2025

Welcome to this week’s edition of Tax Bytes. Our team of tax lawyers is actively monitoring for federal and international tax developments and issues of note. Each week we pull together the items we deem most important to...more

Proskauer - Tax Talks

The One Big Beautiful Bill: Tax Reform 2025

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On May 18, 2025, the House Budget Committee approved the legislation entitled, “The One, Big, Beautiful Bill” (the “House Bill”). The bill is expected to be revised by the House Rules Committee before being sent to the House...more

Eversheds Sutherland (US) LLP

House confirms favorable modifications to three key business tax provisions

On May 12, 2025, the Republicans on the House Committee on Ways and Means released a draft bill showing their tax plan for the budget reconciliation legislation. The legislation will likely undergo significant changes as it...more

Proskauer - Tax Talks

The One Big Beautiful Bill: SALT Deduction Workarounds Under Fire

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On May 12, 2025, House Republicans unveiled a comprehensive 389-page package of tax provisions, setting the stage for a significant tax bill to be debated in the coming weeks. Dubbed the “One Big Beautiful Bill,” this...more

Pillsbury Winthrop Shaw Pittman LLP

The “Big, Beautiful Bill” Starts to Come into Focus: U.S. Ways & Means Committee Releases Proposed 2025 Federal Income Tax...

On May 9, 2025, the House Ways & Means Committee released its initial draft of President Trump’s “big, beautiful bill.” The bill will set the stage for extending the tax cuts enacted in 2017 as part of President Trump’s first...more

Eversheds Sutherland (US) LLP

Eversheds Sutherland SALT Scoreboard – Quarter 1, 2025

This is the first edition of the Eversheds Sutherland SALT Scoreboard for 2025. Since 2016, we have tallied the results of what we deem to be significant taxpayer wins and losses and analyzed those results. Our entire SALT...more

International Lawyers Network

Establishing a Business Entity in New Zealand (Updated)

TYPES OF BUSINESS ENTITIES - There are various entities available in New Zealand from which a business can be operated. The most commonly adopted entities are: 1. Company (including Incorporated Joint Venture (JVC))...more

Cadwalader, Wickersham & Taft LLP

IRS Shifts Position on Basis-Shifting Regulations

On April 17, the Internal Revenue Service issued a notice announcing its plans to withdraw a set of controversial regulations, finalized in January of this year, aimed at transactions designed to shift tax basis in...more

Ballard Spahr LLP

Finally Received the Employee Retention Credit? Now What? A Guide to ERC Income Tax Consequences

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It appears that the flood gates have opened and that the IRS is finally processing and paying claims for the employee retention credit (ERC) en masse. After waiting a very long time (often years) with no contact from the IRS,...more

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