State & Local
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January 23, 2025
Ind. House Bill Would End State Income Tax In 2026
Indiana would eliminate its flat income tax as of 2026 under a bill introduced in the state House of Representatives.
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January 23, 2025
Ind. House Bill Floats Exemption For RVs Used Out Of State
Indiana would exempt from its gross retail tax purchases of recreational vehicles and cargo trailers that are moved out of the state for registration and use as part of a bill introduced in the state House of Representatives.
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January 23, 2025
Ill. Bill Seeks Redevelopment Zones With Lower Tax Rates
Illinois would authorize local governments to designate community redevelopment zones with reduced retailers' occupation and use tax rates under a bill introduced in the state Senate.
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January 22, 2025
'Unicorn Prosecution' Could Upend Legal Practice, Court Told
Brown & Connery LLP partner William Tambussi told a New Jersey state judge Wednesday that the entire practice of law in the Garden State rests on his impending decision on the charges against him in the state's sweeping racketeering case targeting power broker George E. Norcross III, arguing that a lawyer has never been prosecuted for routine legal work.
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January 22, 2025
GOP, Dems From High-Tax States Push To Kill SALT Cap
Republican and Democratic lawmakers from high-tax states said Wednesday that raising or eliminating the $10,000 cap on the state and local tax deduction would be essential to gaining their support for a bill to renew expiring Tax Cuts and Jobs Act tax breaks.
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January 22, 2025
Idaho Lawmakers OK Updated Conformity To Federal Tax Law
Idaho would conform the state's income tax law to changes made to the Internal Revenue Code that affect the 2024 tax year under a bill passed by the state Legislature and headed to the governor.
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January 22, 2025
GOP Again Floats Reciprocal Taxes In Affront To Global Deal
Republicans on the House Ways and Means Committee on Wednesday renewed their proposal for reciprocal taxes against countries that participate in an international minimum tax agreement, following up on President Donald Trump's rejection of the global accord.
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January 22, 2025
Kan. House Bill Would Create Film Production Credit
Kansas would offer an income tax credit for qualifying film production under a bill introduced in the state House of Representatives.
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January 22, 2025
Minn. Panel Advances Limit On Tax Reassessments
Minnesota would limit the authority of its tax department to issue revised assessments after providing erroneous information relied on by taxpayers under legislation advanced Wednesday by a state Senate committee.
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January 22, 2025
Hawaii Bill Aims To Cut Emissions By Increasing Oil Tax
Hawaii would gradually raise the rate of its tax on petroleum in an attempt to curb greenhouse gas emissions under a bill introduced in the state House of Representatives.
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January 22, 2025
Wyden Urges National Standard For Hemp Regulation
Sen. Ron Wyden, D-Ore., rallied on Wednesday for his bill that would beef up regulation of products with hemp-derived cannabinoids in order to protect consumers, particularly children.
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January 22, 2025
NY Assembly Bill Would Double Threshold For Mansion Tax
New York would double the threshold at which properties incur an additional state 1% real estate transfer tax as part of a bill filed in the Assembly.
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January 22, 2025
Maine Bill Seeks New Income Tax Brackets On Higher Income
Maine would raise income tax thresholds and create three new tax brackets, including a new top bracket levying an 8.2% tax on income over $500,000, under a bill introduced in the state House of Representatives.
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January 22, 2025
Hawaii House Bill Floats Tax Surcharge On Vacant Homes
Hawaii would establish an excise tax surcharge on vacant residential homes under a bill introduced in the state House of Representatives.
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January 22, 2025
Hawaii House Bill Seeks Increase In Capital Gains Tax
Hawaii would increase its tax on capital gains to 9% under a bill introduced in the state House of Representatives.
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January 22, 2025
Hawaii Floats Tax Credit For Some Insurers Of Condos
Hawaii would allow insurers that cover the full insurable value of a condominium to claim an insurance premium tax credit under a bill introduced in the state House of Representatives.
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January 22, 2025
Ind. Budget Bill Would Exempt Tip Income From Tax
Indiana would exempt income earned from tips from personal income tax under a budget bill introduced in the state House of Representatives.
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January 22, 2025
Mich. Changes Deadline For Flow-Through Entity Election
Michigan changed when taxpayers electing to pay the state's tax on flow-through entities must file the election with the state Department of Treasury and how such taxpayers can avoid penalties and interest under a bill signed by Democratic Gov. Gretchen Whitmer.
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January 22, 2025
Hawaii House Bill Seeks To End Income Tax
Hawaii would end its state income tax under a bill introduced in the state House of Representatives.
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January 22, 2025
Md. Bill Seeks To Add Digital Ad Tax To Appeals Process
Maryland would authorize the same appeals process for digital advertising tax assessments as it does for most other taxes under legislation introduced Wednesday in the House of Delegates.
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January 22, 2025
Hawaii House Bill Would Mandate Combined Reporting
Hawaii would mandate worldwide combined reporting under a bill introduced in the state House of Representatives.
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January 22, 2025
Ariz. Bill Seeks Ballot Measure To Cut Income Tax Rate
Arizona would ask voters in 2026 whether to cut the state's flat income tax rate from 2.5% to 2% under a House resolution.
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January 22, 2025
Minn. Bill Seeks Cap On Property Value Increases
Minnesota would impose a 3% annual cap on the increase in the assessed market value of a residential property under legislation in the state Senate.
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January 22, 2025
Minn. Bill Would Expand Sales Tax Break For Baby Items
Minnesota would expand its existing sales and use tax exemption for baby products to include car seats, cribs and changing tables under legislation introduced in the state Senate.
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January 22, 2025
Minn. Senate Bill Seeks Income Tax Break For Med Costs
Minnesota would allow its tax filers to subtract uncompensated medical care and health insurance costs from their state taxable income under legislation introduced in the state Senate.
Expert Analysis
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Strategic Succession Planning At Law Firms Is Crucial
Senior partners' reluctance to retire, the rise of the nonequity partner tier and generational differences in expectations are all contributing to an increasing number of departures from BigLaw, making it imperative for firms to encourage retirement among senior ranks and provide clearer leadership pathways to junior attorneys, says Laura Leopard at Leopard Solutions.
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Potential Calamities, Greatly Exaggerated: SALT In Review
From fears of judicial upheaval to a tax break for space travel, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Maximizing Law Firm Profitability In Uncertain Times
As threats of an economic downturn loom, firms can boost profits by embracing the power of bottom-line management and creating an ecosystem where strategic financial oversight and robust timekeeping practices meet evolved client relations, says Shireen Hilal at Maior Strategic Consulting.
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Preparing Your Legal Department For Pillar 2 Compliance
Multinational entities should familiarize themselves with Pillar Two of the Organization for Economic Cooperation and Development’s BEPs 2.0 project and prepare their internal legal tracking systems for related reporting requirements that may go into effect as early as January, says Daniel Robyn at Ernst & Young.
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What Large Language Models Mean For Document Review
Courts often subject parties using technology assisted review to greater scrutiny than parties conducting linear, manual document review, so parties using large language models for document review should expect even more attention, along with a corresponding need for quality control and validation, say attorneys at Sidley.
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Participating In Living History Makes Me A Better Lawyer
My role as a baron in a living history group, and my work as volunteer corporate counsel for a book series fan association, has provided me several opportunities to practice in unexpected areas of law — opening doors to experiences that have nurtured invaluable personal and professional skills, says Matthew Parker at the Nebraska Department of Health and Human Services.
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Another Ark. Tax Cut And Chicago Transit: SALT In Review
From yet another income tax cut in Arkansas to proposed extra funding for Chicago transit, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Private Equity Owners Can Remedy Law Firms' Agency Issues
Nonlawyer, private-equity ownership of law firms can benefit shareholders and others vulnerable to governance issues such as disparate interests, and can in turn help resolve agency problems, says Michael Di Gennaro at The Law Practice Exchange.
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Kentucky Tax Talk: Taking Up The Dormant Commerce Clause
Attorneys at Frost Brown examine whether the U.S. Supreme Court is likely to review Foresight Coal Sales v. Kent Chandler to consider whether a Kentucky utility rate law discriminates against interstate commerce, and how the decision may affect dormant commerce clause jurisprudence.
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TCJA Workarounds And A Misstep In Va.: SALT In Review
From federal SALT deduction workarounds to Virginia's missed opportunity, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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How Taxpayers Can Prep As Justices Weigh Repatriation Tax
The U.S. Supreme Court might strike down the 2017 federal tax overhaul's corporate repatriation tax in Moore v. U.S., so taxpayers should file protective tax refund claims before the case is decided and repatriate previously taxed earnings that could become entangled in dubious potential Section 965 refunds, say Jenny Austin and Gary Wilcox at Mayer Brown.
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Digital Services And Asphalt Production: SALT In Review
From Massachusetts' proposed gross receipts tax on digital providers to a dispute over equipment used to make asphalt in North Carolina, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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What's Notable In Connecticut's New Cannabis Laws
The Connecticut Legislature recently passed four bills containing cannabis provisions — ranging from applicable tax credits to labor agreement requirements — that may prove to be a mixed bag for state operators, say Sarah Westby and Deanna McWeeney at Shipman & Goodwin.