The California Franchise Tax Board (“FTB”) recently issued a revised draft regulation regarding the procedures for a taxpayer to petition for alternative apportionment under section 25137(d), title 18 of the California Code...more
On May 23, 2019, the California Department of Tax and Fee Administration (DTFA) held an interested parties meeting to discuss proposed amendments to the sales and use tax regulations related to the recently enacted California...more
IMPORTANT SALT CONSIDERATIONS IN M&A: ARE YOU EXPOSED FOR SALT? -
Right now, we are seeing a lot of deal activity. 2018 was the third busiest year ever for mergers and acquisitions (“M&A”), with more than $3.8 trillion...more
The New Jersey Tax Court held yesterday, February 27, 2019, in a precedential published opinion that a royalty payor was not required to add back any portion of the royalties that it paid to a related licensor under the...more
The Tax Court of New Jersey released its state tax addback decision in Daimler Investments US Corporation v. Director, Division of Taxation on January 31, 2019. The Tax Court agreed with our assertion that amounts Daimler...more
Words Matter: Complying with State Tax Laws -
Statutes mean what they say. As the late Justice Scalia once quipped, the proper role of the courts “is to apply the text, not to improve upon it.” However, revenue departments...more
The Virginia Supreme Court granted the Company’s petition for rehearing and confirmed that the Department of Revenue’s interpretations that are not contained in regulations are entitled to no weight. ...more
There is a new governor in town and his name is Phil Murphy. And like President Trump, New Jersey Gov. Murphy has taxes on his mind.
During his days as a candidate and now as New Jersey governor, Phil Murphy has been...more
In a 4-3 decision, the Virginia Supreme Court held that the subject-to-tax safe harbor to the royalty addback was ambiguous and applies only to the extent that the royalties are actually taxed by another state. In addition,...more
When must state apportionment be fair? Always. If a state’s normal apportionment formula is operating unfairly with respect to your company, you need to consider the alternatives. The United States Supreme Court has...more
In This Issue:
- Where’s Walden? Finding Protection under the Due Process Clause
- Upcoming Speaking Engagements
- CFCs and Subpart F Income in a California Water’s-Edge Election and What’s Wrong with the Apple...more
In This Issue:
“Occasional Sales” and Single Sales Factor Apportionment in California; Upcoming Speaking Engagements; State Taxation of Financial Institutions; Applying the True Object Test to Determine the Taxability...more
In response to numerous inquiries for copies of our Transcript of ruling and argument following our August 22, 2013 alert, of the New Jersey Tax Court’s bench ruling that the Division of Taxation may not apply dual nexus...more