Tax

  • January 07, 2025

    Oilfield Services Firm Flowco Set to Drill Down On $392M IPO

    Oilfield equipment and services provider Flowco Holdings Inc. on Tuesday launched plans for an estimated $392 million initial public offering, represented by Sidley Austin LLP and underwriters' counsel Latham & Watkins LLP, marking the latest company to join the new year's IPO pipeline.

  • January 07, 2025

    Ex-Ill. Speaker Madigan Testifies In His Racketeering Trial

    Former Illinois House Speaker Michael Madigan took the stand in his own defense Tuesday, testifying that he neither traded his public office for private gain nor demanded or accepted anything valuable in exchange for his official action, adding that he was "very angry" to learn that people who he'd recommended for jobs did little to no work.

  • January 07, 2025

    'Unflattering' Story Not Defamatory, Gannett Says

    A tax firm's defamation suit against USA Today should be tossed, the newspaper's owner told Texas justices Monday, arguing that a 2021 investigative series was not defamatory even if its "gist" was "unflattering."

  • January 07, 2025

    H&R Block Accused Of Negligence In Data Breach

    An H&R Block user who claims cybercriminals disseminated his personal information on the dark web, after a data breach at the tax preparation firm, accused the company in a proposed class action of failing to properly protect consumer data.

  • January 07, 2025

    Mont. Bill Floats Mine, Data Center Property Tax Changes

    Montana would lower the property tax rate imposed on metal mines, certain agricultural land and railroads but raise the rate on data center property as part of a bill introduced in the state Senate.

  • January 07, 2025

    Cos. Seek Pause Of Retention Credit Processing In Litigation

    Two companies that helped clients obtain pandemic-era employee retention tax credits asked Arizona federal district court Tuesday to pause the IRS' use of a system for automatically processing claims, saying harm caused by this process cannot be remedied after litigation.

  • January 07, 2025

    ND Gov. Pitches Property Tax Reform In Annual Address

    North Dakota would cap local property tax increases at 3% and double a major exemption under a plan pitched by the state's new governor that he said would eliminate the tax on many primary residences in the next decade.

  • January 07, 2025

    Mont. Bill Seeks Review Process For Tax-Exempt Property

    Montana would require the state Department of Revenue to create a program to review property that is exempt from taxation under a bill introduced in the state House of Representatives.

  • January 07, 2025

    Developer Says Mass. Stalling $15M Brownfields Tax Credit

    The developer of a 3.5-acre luxury condo and apartment complex in Boston's Seaport District is accusing the state of improperly second-guessing the work of its licensed environmental remediation consultant to deny a $15.3 million brownfields tax credit, then dragging its feet on an administrative appeal.

  • January 07, 2025

    No Problem With $217M Dam Repair Tax, Mich. Panel Says

    A Michigan appellate panel on Monday said a $217 million special assessment levied on property owners for dam repairs and lake level restoration after devastating 2020 floods was established through a legally sound process, ruling the owners were never entitled to have a pseudo-judicial review of the tax.

  • January 07, 2025

    Trump Can't Halt Sentencing In NY Case, Appeals Judge Says

    A New York appellate judge Tuesday declined to freeze proceedings in Donald Trump's criminal hush money case, clearing the way for the president-elect to be sentenced as scheduled on Friday following his guilty verdict and just days before his inauguration.

  • January 06, 2025

    Trump Selects Long Island Judge For EDNY's Top Prosecutor

    President-elect Donald Trump, who was born in Queens, has picked a Long Island state court judge to serve as the next U.S. attorney for the Eastern District of New York, according to an announcement made Monday on Truth Social.

  • January 06, 2025

    New Rules Won't Lift Political Clouds Over Hydrogen Projects

    The Biden administration's new rules to make hydrogen production tax credits more accessible for project developers and investors may not move the needle much for the industry given President-elect Donald Trump's vow to at least partially repeal the statute that created the credits.

  • January 06, 2025

    Newsom Says No New Taxes, No Deficit, In Early Budget Look

    California Gov. Gavin Newsom pledged Monday not to raise taxes in the upcoming budget cycle for the state, while providing an early look at a $322 billion budget that differs from the previous two years by not having a deficit.

  • January 06, 2025

    Pa. Licensing Law For Vape-Makers Flawed, Panel Finds

    Part of Pennsylvania's law regulating licenses for e-cigarette manufacturers is unconstitutional because it gives legislative power to the state's Department of Revenue, an appellate court has ruled in an issue of first impression.

  • January 06, 2025

    Ill. Bill Aims To Extend Affordable Housing Tax Break Deadline

    Illinois would allow some owners of affordable rental housing until the end of 2037 to apply for a reduction in their property's assessed value for tax purposes as part of a bill introduced in the state Senate.

  • January 06, 2025

    Convicted Atty Who 'Lost Everything' Fights To Keep License

    A Philadelphia-based personal injury attorney who was convicted for not paying income tax on more than $8 million in revenue he earned and for failing to pay almost $60,000 in payroll taxes argued Monday he should not permanently lose his ability to practice law in New Jersey.

  • January 06, 2025

    Proskauer Adds New Funds Partners In NY, DC

    Proskauer Rose LLP announced Monday it has rung in the new year by adding two new partners to its private funds group, with the addition of a tax expert from Schulte Roth & Zabel LLP in New York and a regulatory specialist from the SEC in Washington, D.C.

  • January 06, 2025

    US Wants More Time To Counter Altria's $106M Tax Refund Bid

    Tobacco giant Altria's complaint seeking a $106 million tax refund related to its interests in beverage company Anheuser-Busch requires more research to counter in the event a Virginia federal court decides it can move forward, the U.S. government said in requesting time for potential discovery.

  • January 06, 2025

    France's New Finance Minister Hints At Capital Gains Hike

    The newly formed French government is open to raising the capital gains tax as part of concessions in talks to settle the country's budget for 2025, the finance minister said Monday.

  • January 06, 2025

    Trudeau Steps Down As US-Canada Trade Tensions Simmer

    Canadian Prime Minister Justin Trudeau announced Monday that he will resign as the leader of the country's Liberal Party, setting off a process to replace him as head of state in the coming months.

  • January 06, 2025

    Judge Denies Trump's Request To Delay Jan. 10 Sentencing

    A New York state judge on Monday denied Donald Trump's request to suspend his Jan. 10 sentencing in his hush money case as the president-elect simultaneously appealed the court's refusal to throw out the charges based on presidential immunity.

  • January 03, 2025

    Honeygrow Accused Of Taxing Bottled Water At Pa. Location

    Philadelphia-based restaurant chain Honeygrow unjustly profited from charging 6% sales tax for bottled water at one of its locations in violation of Pennsylvania law, a new class action lawsuit filed in state court alleged.

  • January 03, 2025

    Treasury Unveils Flexible Final Regs For Hydrogen Tax Credit

    The U.S. Treasury Department released final rules Friday for hydrogen production tax credits that allow fuel produced using nuclear-generated electricity or methane to qualify for the incentive, making the regulations more flexible than what was proposed last year.

  • January 03, 2025

    NY Judge To Sentence Trump Jan. 10 But Says Prison Unlikely

    A New York state judge said Friday he will sentence Donald Trump on Jan. 10 after rejecting his motion to dismiss his hush money conviction in light of his status as president-elect, but suggested a prison term is highly unlikely.

Expert Analysis

  • Exploring Venue Strategy For Trump-Era Regulatory Litigation

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    Litigation will likely play a prominent role in shaping policy outcomes during the second Trump administration, and stakeholders have several tools at their disposal to steer regulatory litigation toward more favorable venues, say attorneys at Covington.

  • Series

    Playing Esports Makes Me A Better Lawyer

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    Competing in a global esports tournament at Wimbledon last year not only fulfilled my childhood dream, but also sharpened skills that are essential to my day job, including strategic thinking, confidence and networking, says AJ Schuyler at Jackson Lewis.

  • How Changes In State Gift Card Laws May Affect Cos. In 2025

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    2024 state legislative movements around the escheatment of unused gift card balances and consumer fraud protections should prompt issuers to consider whether changes in company domicile or blanket cash-back policies are needed in the new year, say attorneys at Alston & Bird.

  • An Associate's Guide To Career Development In 2025

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    As the new year begins, associates at all levels should consider establishing career metrics, fostering key relationships and employing other specific strategies to help move through the complexities of the legal profession with confidence and emerge as trailblazers, say EJ Stern and Amanda George at Fractional Law Firm.

  • Series

    Fixing Up Cars Makes Me A Better Lawyer

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    From problem-solving to patience and adaptability to organization, the skills developed working under the hood of a car directly translate to being a more effective lawyer, says Christopher Mdeway at Kaufman Dolowich.

  • Opinion

    A New Tax On Employers Could Help Curb Illegal Immigration

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    To better enforce the law against hiring immigrants unauthorized to work in the U.S., Congress should enact a punitive excise tax on compensation paid to such immigrants and amend the False Claims Act to allow qui tam actions against employers for failure to pay such tax, says Ajay Gupta at Moore Tax Law Group.

  • Making The Pitch To Grow Your Company's Legal Team

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    In a compressed economy, convincing the C-suite to invest in additional legal talent can be a herculean task, but a convincing pitch — supported by metrics and cost analyses — may help in-house counsel justify the growth of their team, say Elizabeth Smith and Roger Garceau at Major Lindsey.

  • Justices May Find Gov't Can Keep Fraudulent Transfer Benefit

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    Based on the justices' questions at the recently argued U.S. v. Miller, the Supreme Court appears prepared to hold that the U.S. — unlike any other creditor — is permitted to retain the benefits of a fraudulent transfer to the detriment of other bankruptcy creditors, says Kevin Morse at Clark Hill.

  • Opinion

    Tax Court Should Update Framework For Defining Insurance

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    ​​​​​​​The U.S. Tax Court's unnecessary determination in Royalty Management Insurance v. Commissioner that a fraudulent transaction did not contain the hallmarks of a legitimate insurance transaction applies an outdated analysis that threatens the captive insurance sector and illustrates the need for a more modern framework to define true insurance, says Matthew Queen at the Queen Firm.

  • When US Privilege Law Applies To Docs Made Outside The US

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    As globalization manifests itself in disputes over foreign-created documents, a California federal court’s recent trademark decision illustrates nuances of both U.S. privilege frameworks and foreign evidentiary protections that attorneys must increasingly bear in mind, say attorneys at Hunton.

  • Impact Of Corporate Transparency Act Ambiguity On Banks

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    Even though banks generally needn't file beneficial ownership information reports, financial institutions must continue to monitor the status of the Corporate Transparency Act and understand its requirements in case the nationwide injunction that was issued against the CTA earlier this month is overturned, say attorneys at Armstrong Teasdale.

  • What 2024 Trends In Marketing, Comms Hiring Mean For 2025

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    The state of hiring in legal industry marketing, business development and communications over the past 12 months was marked by a number of trends — from changes in the C-suite to lateral move challenges — providing clues for what’s to come in the year ahead, says Ben Curle at Ambition.

  • Series

    Group Running Makes Me A Better Lawyer

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    The combination of physical fitness and community connection derived from running with a group of business leaders has, among other things, helped me to stay grounded, improve my communication skills, and develop a deeper empathy for clients and colleagues, says Jessica Shpall Rosen at Greenwald Doherty.

  • Opinion

    6 Changes I Would Make If I Ran A Law School

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    Reuben Guttman at Guttman Buschner identifies several key issues plaguing law schools and discusses potential solutions, such as opting out of the rankings game and mandating courses in basic writing skills.

  • The Current State Of Play Around Corporate Transparency Act

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    Although a Texas court preliminarily enjoined enforcement of the Corporate Transparency Act and paused an impending Dec. 31 reporting deadline, multiple states have similar requirements, so companies should continue to monitor compliance obligations regardless of the CTA's constitutionality, say attorneys at Simpson Thacher.

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