News & Analysis as of November 15, 2024

Tax Revenues

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Moore Thoughts: An Incremental Opinion from the U.S. Supreme Court

Holland & Knight LLP on 6/27/2024

The U.S. Supreme Court on June 20, 2024, ruled 7-2 that Section 965 of the Internal Revenue Code, as revised by the law known as the Tax Cuts and Jobs Act, is constitutional. The issue presented to the Court in Moore v....more

Internal Revenue Service Alters Its View on Section 355 Spin-Offs

Jones Day on 5/8/2024

The Internal Revenue Service ("IRS") recently issued important guidance identifying new positions the IRS is considering on critical aspects of tax-free spin-offs, and significantly expanding the information that taxpayers...more

PA DOR Issues Guidance On Like-Kind Exchanges

McNees Wallace & Nurick LLC on 10/7/2022

On September 27, 2022, the Pennsylvania Department of Revenue (“DOR”) issued a revision of Personal Income Tax Bulletin 2006-07 (the “Bulletin”), which confirms that recent Pennsylvania legislation reversed longstanding...more

US Treasury Issues Guidance on the ARPA Claw-Back Provision

McDermott Will & Emery on 5/13/2021

Earlier this week, the US Department of the Treasury (Treasury) issued formal guidance regarding the administration of the American Rescue Plan Act of 2021 (ARPA) claw-back provision. The guidance (Interim Final Rule)...more

Oregon’s New Corporate Activity Tax

Foster Garvey PC on 6/5/2019

We are taking a break from our multi-post coverage of Opportunity Zones to address a recent, significant piece of Oregon tax legislation. On May 16, 2019, Governor Kate Brown signed into law legislation imposing a new...more

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