In a decision with troubling potential implications, a Massachusetts appellate court held that a nonresident individual was subject to Commonwealth income tax on capital gain from the sale of his stock in the corporation that...more
Founders and executives with equity compensation need to be prepared for state tax exposure, even in states where they do not live. In a landmark decision that reverberates beyond Massachusetts, the Massachusetts Appeals...more
At $13.99 million for 2025, the federal estate tax exclusion is the largest it has ever been, but it will be reduced by half in 2026, which you can read more about in this advisory....more
You are probably aware that many employers are discarding the fully flexible, remote work policies that were forced upon them – as “nonessential” businesses – during the COVID-19 pandemic[i] and which they retained as an...more
The Internal Revenue Service (“IRS”) and the Treasury Department on October 21, 2024, issued final regulations under Sections 3405(a) and 3405(b) of the Internal Revenue Code of 1986, as amended (“Code”). (The IRS had issued...more
Following the release of a memo last month detailing upcoming regulations, the Massachusetts Board of Registration in Pharmacy released its long-awaited regulatory changes for non-resident pharmacy licensure last week by...more
The term “resident” is defined differently for US federal income tax purposes and US federal estate and gift tax purposes. The mismatch in the US resident status under the two tax regimes often gives rise to problems. Thus,...more
Until recently, Massachusetts was the only state that did not maintain a licensing regime for nonresident pharmacies (i.e., out-of-state pharmacies shipping drugs into the state). On December 6, 2024, the Massachusetts Board...more
KEY FACTS OF REAL ESTATE ACQUISITIONS UNDER COSTA RICAN LAW - General - Real estate law in Costa Rica is governed by the principles established in the Costa Rican Civil Code for acquiring, selling, and disposing of...more
On November 19, 2024, the Massachusetts Board of Registration in Pharmacy (the “Board”) published several memoranda that described the impending non-resident pharmacy licensure requirements and the anticipated timeline for...more
In June 2024, the UAE introduced Cabinet Decision No. 43/2024, establishing a comprehensive framework for handling non-resident foreigners caught in possession of narcotic drugs or psychotropic substances while entering the...more
On November 12, the Kentucky attorney general (AG) issued a formal opinion, concluding that the Kentucky Board of Pharmacy lacks the authority to regulate nonresident pharmacists beyond what is specified in KRS Chapter 315....more
The Kentucky Attorney General published a formal opinion yesterday confirming that the Board of Pharmacy cannot require the licensure of pharmacists who reside outside of the Commonwealth of Kentucky. The proposed...more
A recent post on this blog previewed the issues raised in the case of Govatos v. Murphy related to the residency requirement in the New Jersey Medical Aid in Dying for the Terminally Ill Act. ...more
The National Taxpayer Advocate 2023 Annual Report to Congress highlights how Taxpayers abroad are underserved and continue to face challenges in meeting their U.S. tax obligations. As a result, the National Taxpayer Advocate...more
Prior to 31 March 2023 an application could be made for an “Economic Investment Certificate” by non-Bermudian individuals who invested at least BM$2.5 million in the island. The certificate was valid for a five years, after...more
As far back as I can remember, the end of August has always elicited a sense of dread comparable to what many schoolchildren, and a fair number of adults, experience every Sunday afternoon. In retrospect, I cannot say that...more
As a result of the COVID-19 pandemic, many states and localities tried to continue taxing nonresident employees who stopped working from their employer’s location and began working from home in another jurisdiction. The...more
The Economic Substance Act 2018 (the “Act”)1 requires Bermuda-based entities that are carrying on a “relevant activity” in a relevant financial period and entities claiming “non-resident entity” status under the Act to file...more
On March 14, 2024, the New York Court of Appeals held that nonresident prospective employees who seek employment opportunities in New York State or New York City and are denied due to discriminatory conduct are eligible to...more
New York’s highest court, settling a long-standing question dividing state and federal courts, has held that the New York State and City anti-discrimination statutes apply to non-residents who apply for jobs that would be...more
The Ohio Supreme Court upheld the right of Ohio municipalities to tax wages earned by employees working outside the municipality from home during the COVID-19 pandemic. Schaad v. Alder Slip Opinion No. 2024-Ohio-525 (Feb. 14,...more
On February 14, 2024, in Schaad v. Alder, the Supreme Court of Ohio upheld the constitutionality of a temporary Ohio law allowing municipalities where a principal place of business was located to collect income tax from...more
In a decision of potential importance to arbitral award creditors and debtors, the US Court of Appeals for the Fifth Circuit recently reversed a federal district court decision confirming an English arbitral award on the...more
The Federal Decree-Law No. 47/2022 on the Taxation of Corporations and Businesses (Corporate Tax Law), establishes the legislative framework for imposing federal tax on corporations and business profits in the UAE. This...more