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Tax
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November 07, 2024
Ariz. Textile Launderer Denied Manufacturing Tax Break
An Arizona company that launders, sanitizes and rents textiles to the healthcare industry was correctly denied a use tax exemption because it was not a manufacturing or processing operation eligible for the break, an Arizona appeals court said Thursday.
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November 07, 2024
Ariz. OKs Property Tax Credits For Unattended Nuisances
Arizona property owners affected by public nuisances that local governments fail to address could qualify for tax refunds under Proposition 312, a ballot measure approved by state voters.
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November 07, 2024
Mass. Court Affirms Nix Of Property Tax Appeal Citing Blight
A Massachusetts homeowner's request for a property tax abatement because of local blight was properly rejected by a state tax board because the owner did not pay the tax at issue as required, the state appeals court ruled Tuesday.
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November 07, 2024
ECJ Says VAT Applies To Land Prepared For Building
Land with foundations to build residential housing is subject to value-added tax as a supply of land in the European Union, the European Court of Justice said Thursday in a dispute between Denmark's tax authority and a real estate company.
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November 07, 2024
Ex-Cop, Brother Admit Energy Contract Kickback Scheme
A former Massachusetts police officer and his electrician brother pled guilty Wednesday to paying off employees of a utility ratepayer-funded energy savings program administrator who steered $36 million in contracts their way, federal prosecutors said Thursday.
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November 07, 2024
Transparency Act Should Exclude Housing Co-Ops, Court Told
A group of housing cooperatives asked a Michigan federal judge to grant them an exemption from the "dragnet" Corporate Transparency Act, claiming the disclosure requirements will deter members from serving on boards that govern affordable housing developments.
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November 07, 2024
Trump's Victory Muddles NY Sentencing: 'No Playbook Here'
The fate of President-elect Donald Trump's criminal conviction in New York remains unclear following his resounding electoral victory Tuesday night, as last-minute motions, a pending decision on presidential immunity and appeals may derail or delay a punishment slated to be handed down before Thanksgiving.
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November 06, 2024
Chicago Pol Urges Narrow Reading Of False Statement Law
The U.S. Supreme Court should narrowly interpret the federal statute barring people from using false statements to influence certain financial institutions because backing the government's broad reading could expose borrowers to criminal liability that was never intended, former Chicago alderman Patrick Daley Thompson argued Wednesday.
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November 06, 2024
Venue For Fla. County Suit Against Funder Getting New Look
A Florida appellate court ruled Wednesday that Palm Beach County can't use the "sword-wielder" exception to deny a funding agency's choice of court in a lawsuit over the authority to levy property taxes, saying the agency has proved it's a governmental entity entitled to a home venue privilege.
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November 06, 2024
After Electoral Defeats, Cannabis Advocates Eye Next Steps
Cannabis industry advocates and reform activists struck a note of cautious optimism Wednesday following an expected Republican electoral sweep of the federal government, while opponents of legalization touted the defeat of multiple statewide ballot measures as proof of their position that marijuana reform efforts were losing support.
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November 06, 2024
Browns Won't Stop Ohio From Joining Stadium Dispute
The Cleveland Browns told an Ohio federal court that it has no problem with the state joining the City of Cleveland in facing down the NFL team's suit, which claims that a state law unconstitutionally impedes the team's plan to move to a new stadium.
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November 06, 2024
Ex-Exec Says Do-Nothing ComEd Jobs A Favor To Madigan
A former Commonwealth Edison executive testified Wednesday that several subcontractors the utility kept on the payroll for years did little to no work and were hired as a favor for former Illinois House Speaker Michael Madigan, bolstered by a series of recordings he captured while cooperating with the government.
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November 06, 2024
Feds Look To Halt Vitamin Co. Payouts Amid $1.4M Tax Fight
A couple who bought a vitamin supplement company shouldn't continue to get payments from the business amid a suit claiming they're liable for a previous owner's $1.4 million tax lien, the U.S. Department of Justice told a Connecticut federal court Wednesday.
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November 06, 2024
NJ Authorizes Sharing Property Tax Info To Calculate Credits
New Jersey authorized the sharing of taxpayers' unredacted property tax information to calculate tax credits as part of a property tax relief program under a bill signed by Democratic Gov. Phil Murphy.
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November 06, 2024
Ga. Justices Signal Newly Chartered City Likely To Survive
The Supreme Court of Georgia appeared unlikely Wednesday to declare a newly created metro Atlanta city illegitimate, casting doubt on the notion that the simultaneous creation of a special tax district alongside the city violated the state's constitution.
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November 06, 2024
EU Court Won't Toss Commission's Tax Clawback In Portugal
A European Union court on Wednesday tossed two challenges to a European Commission ruling that Portugal must claw back tax breaks provided to companies with no local economic activity because that ran counter to commission-approved policies.
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November 06, 2024
Clerk Targeted During Trump Civil Trial Is Elected Judge
A law clerk under New York Supreme Court Justice Arthur Engoron who faced death threats after being singled out by now President-elect Donald Trump during his civil fraud trial last year has been elected as a judge.
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November 06, 2024
What To Know About Ga.'s Vote To Create A State Tax Court
Law360 Pulse takes a close look at the new state tax court approved by Peach State voters in Tuesday's election.
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November 06, 2024
Minn. Justices Spare Drug Wholesaler From Tax On Rebates
A Minnesota drug wholesaler does not owe tax on money it rebated to customers under contractual agreements, the state Supreme Court ruled Wednesday, upholding a tax court ruling.
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November 06, 2024
Tax Court To Rethink $1.9M Deduction Denial Post-Chevron
The U.S. Tax Court agreed to reconsider its denial of a $1.9 million tax break for farming sought by a Texas couple, saying it will examine whether a subsequent U.S. Supreme Court ruling overturning long-standing deference to federal agencies invalidates regulations at issue in the case.
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November 05, 2024
Trump Victory Boosts GOP Push To Extend 2017 Tax Law
Former President Donald Trump's projected reelection early Wednesday gave GOP lawmakers a strong boost in their efforts to renew major parts of the 2017 tax law that will expire next year, further dimming Democrats' hopes of promoting tax fairness by increasing rates on wealthy corporations and individuals.
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November 05, 2024
Trump Has Official Immunity. What About His Aides?
Whether the U.S. Supreme Court's decision on presidential immunity extends to subordinates who follow a president's orders has become a more pressing question in the wake of Donald Trump's projected election win, according to legal experts.
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November 05, 2024
An Early Look At Trump's Supreme Court Shortlist
With former President Donald Trump projected to win the 2024 presidential election and the Republicans' success in securing the U.S. Senate majority, Trump may now get the chance to appoint two more justices to the U.S. Supreme Court, cementing the court's conservative tilt for decades to come.
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November 05, 2024
The Firms With An Inside Track To A New Trump Admin
Law firms that have represented Donald Trump and the Republican Party on everything from personal legal woes to election-related lawsuits could see the risks of that work pay dividends as Trump is projected to secure a second term in office.
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November 05, 2024
Voters Pass Medicaid Tax In Calif., Support IVF Coverage In Ill.
A tax on managed care organizations in California and an Illinois advisory question supporting access to in vitro fertilization won voter approval Tuesday as state-level ballot measures were set to shape healthcare policy across the country, according to unofficial election returns.
Expert Analysis
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3 Ways Agencies Will Keep Making Law After Chevron
The U.S. Supreme Court clearly thinks it has done something big in overturning the Chevron precedent that had given deference to agencies' statutory interpretations, but regulated parties have to consider how agencies retain significant power to shape the law and its meaning, say attorneys at K&L Gates.
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After Chevron
Since the U.S. Supreme Court overturned the Chevron deference standard in June, this Expert Analysis series has featured attorneys discussing the potential impact across 37 different rulemaking and litigation areas.
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Opinion
Atty Well-Being Efforts Ignore Root Causes Of The Problem
The legal industry is engaged in a critical conversation about lawyers' mental health, but current attorney well-being programs primarily focus on helping lawyers cope with the stress of excessive workloads, instead of examining whether this work culture is even fundamentally compatible with lawyer well-being, says Jonathan Baum at Avenir Guild.
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Series
Skiing And Surfing Make Me A Better Lawyer
The skills I’ve learned while riding waves in the ocean and slopes in the mountains have translated to my legal career — developing strong mentor relationships, remaining calm in difficult situations, and being prepared and able to move to a backup plan when needed, says Brian Claassen at Knobbe Martens.
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Tracking Implementation Of IRA Programs As Election Nears
As the Biden administration races to cement key regulations implementing the Inflation Reduction Act, a number of the law's programs and incentives are at risk of delay or repeal if Republicans retake control of Congress, the White House or both — so stakeholders should closely watch ongoing IRA implementation and guidance, say attorneys at Squire Patton.
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Unpacking The Circuit Split Over A Federal Atty Fee Rule
Federal circuit courts that have addressed Rule 41(d) of the Federal Rules of Civil Procedure are split as to whether attorney fees are included as part of the costs of a previously dismissed action, so practitioners aiming to recover or avoid fees should tailor arguments to the appropriate court, says Joseph Myles and Lionel Lavenue at Finnegan.
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Takeaways From Justices' Redemption Insurance Decision
The U.S. Supreme Court’s recent decision in Connelly v. U.S. examines how to determine the fair market value of shares in a closely held company for estate tax purposes, and clarifies how life insurance held by the company to enable redemption of a decedent’s shares affects that calculation, says Evelyn Haralampu at Burns & Levinson.
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6 Tips For Maximizing After-Tax Returns In Private M&A Deals
With potential tax legislation likely to spur a surge in private business sales, sellers can make the most of after-tax proceeds with strategies that include price allocation and qualified investment options, say Isaac Grossman and Daniel Studin at Morrison Cohen.
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After A Brief Hiccup, The 'Rocket Docket' Soars Back To No. 1
The Eastern District of Virginia’s precipitous 2022 fall from its storied rocket docket status appears to have been a temporary aberration, as recent statistics reveal that the court is once again back on top as the fastest federal civil trial court in the nation, says Robert Tata at Hunton.
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Factors For London Cos. To Consider If Adding US Listings
Recent reports of a continuing valuation gap between London and New York have resulted in some London-listed companies considering U.S. listings to gain an increased investor base, but with various obligations and implications involved in such a move, organizations should consider whether there is a real benefit from trading there, say lawyers at Winston & Strawn.
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Recruitment Trends In Emerging Law Firm Frontiers
BigLaw firms are facing local recruitment challenges as they increasingly establish offices in cities outside of the major legal hubs, requiring them to weigh various strategies for attracting talent that present different risks and benefits, says Tom Hanlon at Buchanan Law.
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Series
Glassblowing Makes Me A Better Lawyer
I never expected that glassblowing would strongly influence my work as an attorney, but it has taught me the importance of building a solid foundation for your work, learning from others and committing to a lifetime of practice, says Margaret House at Kalijarvi Chuzi.
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What DOL Fiduciary Rule Means For Private Fund Managers
Attorneys at Ropes & Gray discuss how the U.S. Department of Labor's recently released final fiduciary rule, which revises the agency's 1975 regulation, could potentially cause private fund managers' current marketing practices and communications to be considered fiduciary advice, and therefore subject them to strict prohibitions.
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Money, Money, Money: Limiting White Collar Wealth Evidence
As courts increasingly recognize that allowing unfettered evidence of wealth could prejudice a jury against a defendant, white collar defense counsel should consider several avenues for excluding visual evidence of a lavish lifestyle at trial, says Jonathan Porter at Husch Blackwell.
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How Associates Can Build A Professional Image
As hybrid work arrangements become the norm in the legal industry, early-career attorneys must be proactive in building and maintaining a professional presence in both physical and digital settings, ensuring that their image aligns with their long-term career goals, say Lana Manganiello at Equinox Strategy Partners and Estelle Winsett at Estelle Winsett Professional Image Consulting.