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Taxation

Hogan Lovells

Carried interest schemes for asset managers

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During the last decade, the shape and source of capital flows and investment have fundamentally shifted. Private capital continues to flow into all asset classes including real estate, infrastructure, private credit, and...more

Jenner & Block

Illinois Supreme Court Rules in Favor of City of Rolling Meadows in Tax Jurisdiction Case

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In a unanimous opinion delivered by Justice O'Brien, the Illinois Supreme Court affirmed that the Illinois Department of Revenue (IDOR) has exclusive jurisdiction over sales tax misallocation disputes between municipalities....more

Dentons

Iowa 2025 Legislative Session Week 9

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The Iowa Legislature returned after the first funnel deadline in Week 8 and the pace shifted as the Iowa House and Senate spent more time on floor debate and attention shifted to Ways and Means and Appropriations bills and...more

Eversheds Sutherland (US) LLP

San Francisco’s proposed regulation imitates California’s proposed regulation

In November 2024, voters approved Proposition M which provided for an overhaul of San Francisco’s gross receipts tax. Proposition M changed the allocation and apportionment rules for most industries, generally requiring that...more

Mayer Brown

Europe Daily News, 12 March 2025

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COMPETITION - Prior notification of a concentration (Case M.11746 - DSV / Schenker) - Prior notification of a concentration (Case M.11911 - ETA / SPL / SP Mobility)...more

Miller Canfield

Are Wages for Research Credit Purposes Limited to “Reasonableness?”

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Smith v. Commissioner, a pending research credit case in the United States Tax Court, presents an issue of first impression: Is a partner’s self-employment income in a partnership allowable as a qualified research expense...more

Mayer Brown

Europe Daily News, 11 March 2025

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COMPETITION - Non-opposition to a notified concentration (Case M.11819 - Audi / Qatar Holding / Sauber Hodling) - Commission carries out unannounced antitrust inspections in the non-alcoholic drinks sector and asks for...more

Kilpatrick

5 Key Takeaways | The Latest Twists and Challenges in Sales Tax, Use Tax, and Income Tax Laws

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Kilpatrick’s Jordan Goodman recently joined other thought leaders at the ABA-IPT Advanced State Income, Advanced Sales/Use, and Advanced Property Tax Seminar in New Orleans where he co-presented on the latest twists in sales...more

Mayer Brown

STF Establishes Non-Incidence of ISS on Commissioned Manufacturing Activities

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The Brazilian Supreme Court (STF) decided that the Tax on Services’ (ISS) non-levy on toll commissioned manufacturing activities, whenever these activities refer to the intermediary activities of a production cycle. The...more

Bricker Graydon LLP

The Possible Repeal of the Tax Exemption of Municipal Bond Interest

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You may have heard recently about proposals for Congress to remove the exclusion from gross income of interest on state and local bonds, usually referred to as “repealing the tax exemption on municipal bonds.”  This issue...more

McCarter & English, LLP

Proposed Corporation Business Tax Regulations, Proposing Sweeping Changes, Published in ‘New Jersey Register’

On February 18, the New Jersey Division of Taxation published proposed corporation business tax (CBT) regulations that incorporate changes associated with 2023 reform legislation, as well as additional changes intended to...more

Mayer Brown

Europe Daily News, 28 February 2025

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COMPETITION - Prior notification of a concentration (Case M.11786 - Mondi / Schumacker Packaging (German & Dutch & UK Business)) Prior notification of a concentration (Case M.11867 - Daikin / Copeland / C-D Compression...more

Miller Canfield

Comments Solicited on Michigan Research Credit Draft Notice

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The Michigan Department of Treasury released a draft of a notice regarding the new research and development credit. ...more

Cadwalader, Wickersham & Taft LLP

The New UK Reserved Investor Fund: RIFs and QAHCs Create an Ambitious UK Structuring Toolkit

Introduction - After a long gestation, the much heralded new UK fund structure, the Reserved Investor Fund (“RIF”) is finally expected to be available from 19 March 2025....more

Eversheds Sutherland (US) LLP

Tax Bytes: Week of March 3, 2025

Tax developments - The validity of the 245A DRD for indirectly owned foreign corporations - On January 21, 2025, the IRS filed a motion for summary judgment asking the Tax Court to hold that Sysco Corporation (Sysco)...more

Adams and Reese LLP

Does a Drink Menu Have to Show Taxes in Tennessee?

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Lots of folks have been asking of late, “Do I have to show taxes in drink prices?” No. The law gives taxpayers two options....more

Frantz Ward LLP

Proposed Senate Bill 86 Seeks to Regulate Hemp Beverages and Intoxicating Hemp Products Differently

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Ohio lawmakers are moving to tighten hemp regulations following Governor Mike DeWine’s call to “regulate intoxicating hemp” and close legal gaps that may allow the marketing and sale of hemp products to minors. Senators Shane...more

Husch Blackwell LLP

New Mexico Rules That Anesthesia Services Can Be Purchased Exempt for Resale

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New Mexico’s gross receipts tax (what the state calls its sales tax) is generally imposed on receipts derived by the seller from performing services in the state; however, a resale of the services is not generally taxable if...more

Allen Barron, Inc.

The Trend to Integrate Legal, Tax, Accounting, Business and Financial Advisory Services: the KPMG Arizona Gambit

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It has always been prudent to search for firms who can integrate legal, tax, accounting and business advisory services. While there are few such genuine providers across the United States they do exist, and the KPMG Arizona...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 18 - February 2025

The Georgia General Assembly returned in a frenzy on Tuesday with lawmakers and lobbyists rushing between back-to-back committee meetings in the morning and afternoon on a legislative day bifurcated by a 1 p.m. convening....more

Pillsbury - SeeSalt Blog

Technology Transfer Agreements: An Update on Latest Developments in California

The California Department of Tax and Fee Administration (CDTFA or Department) hosted its third workshop (Workshop III) on December 9, 2024, to discuss and receive input on technology transfer agreements (TTAs)....more

Rivkin Radler LLP

New York Sales Tax: When a Responsible Person Acts Irresponsibly

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Late last year, the Office of the State Comptroller (the “OSC”) estimated that sales and use tax receipts would increase by 2.3% in the SFY 2024-2025. The OSC also projected that collections from sales and use taxes would...more

Mayer Brown

ICMS Levy in the Transfer of Goods: STF Concludes Trial on Theme 1,367 of General Repercussion and Effects of Modulation of ADC 49...

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On February 4, 2025, and by unanimous vote, the Brazilian Supreme Court’s (STF) Plenary confirmed that the non-levy of ICMS will only apply from the 2024 fiscal year, with the exception of administrative and judicial...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - February 2025 - The External Revenue Service: A Bureaucratic Overreach or Necessary Reform?

President Donald Trump made headlines when he announced an External Revenue Service (ERS) agency to collect tariff incomes. The announcement sparked a heated debate among trade experts, economists, and business leaders. But,...more

Awatif Mohammad Shoqi Advocates & Legal...

The 2025 E-Invoicing Rollout in the UAE

The UAE government has taken steps to move towards a fully digitized tax system by adopting E-Invoices. The E-invoicing process will be mandatory for all business to business (B2B) and business to government (B2G)...more

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