Administrative Law, Tax Law, Business Organization

Administrative Law Judge Affirms Holding on Alabama SRLY Rule

by Christopher Grissom, James Long | Bradley Arant Boult Cummings LLP on 2/26/2013

On August 15, 2012, Chief Administrative Law Judge Bill Thompson issued his long-awaited SRLY ruling, holding that an Alabama consolidated group was entitled to carry forward certain net operating losses (“NOLs”) incurred...more

How Tobin Tax and certain regulatory duties affect Block Trades in Italy

by Iacopo Canino, Ferigo Foscari, Michael Immordino, Alessandro Seganfreddo | White & Case LLP on 1/17/2013

Italian Law No. 228 dated December 24, 2012, which approved the 2013 budget, contemplates, among others, a new tax applicable to certain financial transactions (the “Tobin Tax”). The Tobin Tax will apply to transactions,...more

Some Federal, State, & Employment, Tax Considerations When Deciding on A Business Entity (LLC, Corporation or Sole Proprietorship)

by Scott Legal Services, P.C. on 1/15/2013

The amount of taxes that you have to pay is one of the key reasons that individuals select one business entity type over another. The term “tax” though is a bit too general for a business as “tax” could refer to federal tax,...more

Congress Extends Exclusion for Investors in Qualified Small Businesses

by Baker, Donelson, Bearman, Caldwell &... on 1/15/2013

Among the taxpayer-favorable aspects of the American Taxpayer Relief Act of 2012 (Act), the 100 percent exclusion from gross income of gain on the sale of Qualified Small Business Stock (QSBS), provided for in section 1202 of...more

UK Tax Law Changes May Affect Fund Industry

by Proskauer Rose LLP on 1/8/2013

Recently proposed changes in UK law could affect private investment funds that operate or have partners, employees or investments in the UK. Many of the proposed changes are included in the draft Finance Bill 2013, which was...more

‘Fiscal Cliff’ Legislation Temporarily Extends Key Provisions for Businesses

by Robert Clary II, Elizabeth Lewis, Martin Milner | McDermott Will & Emery on 1/7/2013

As part of legislation enacted in early 2013 to avert the so-called “fiscal cliff,” Congress temporarily extended several beneficial tax provisions for businesses, including the research credit, the active financing exception...more

Union Friendly - Using Collectively Bargained Pension Plans to Maximize Pension Contributions for Closely Held Business Owners

by Gerald Nowotny on 1/7/2013

Overview - In the “old days” business owners and employees were able to have good pension plans that did not depend upon the fate of the stock market, i.e. defined benefit plans. We have all heard the stories of New...more

IRS Issues Regulations on Type III Supporting Organizations

by Ropes & Gray LLP on 1/7/2013

Effective December 28, 2012, the IRS published final regulations on the qualification requirements for “Type III” supporting organizations (SOs), and issued temporary regulations that establish a payout requirement for...more

Doing Business In Arizona - A Legal Guide

Contents: Part I: A Brief Factual Look at Arizona: - Population and Job Growth - Personal Income - Exports - Leading Industries - Location - Business Costs - Labor Force - Education -...more

Investment Management Legal + Regulatory Update -- December 2012

by Luke T. Bagley, Jay G. Baris, Steven J. Bleiberg, Thomas M. Devaney, Kelley A. Howes, Robert E. Putney, III, Isabelle Sajous | Morrison & Foerster LLP on 12/18/2012

In This Issue: Regulatory Updates - FSOC, FSB Turn Up Heat on SEC on Money Market Fund Reforms; SEC Staff: Beware of BDC Joint Transactions; SEC Reports 3,000 Whistles Blown in FYI 2012; Over 1500 Private Fund Advisers...more

The Top 10 Things That Every Business Owner Should Do At Year-End

by Scott Legal Services, P.C. on 12/14/2012

As a business owner, all year you have likely been running around acting as manager, developer, business generator, marketer, human resource manager and administrative assistant. Given the numerous roles, it is often tough...more

Commentary on October 24, 2012: Notice of Ways and Means Motion Relating to Tax Matters - Restrictive Covenants

by Osler, Hoskin & Harcourt LLP on 11/5/2012

Rules relating to restrictive covenants have been subject to an initial announcement on October 7, 2003 and were followed by a more complete set of rules initially released on February 27, 2004 (See Osler Update, March 9...more

Commentary on October 24, 2012: Notice of Ways and Means Motion Relating to Tax Matters - Insurance Corporations

by Osler, Hoskin & Harcourt LLP on 11/2/2012

Except with respect to one proposal in respect of policy reserves for segregated life insurance policies, most of the changes to section 138 of the Act and Part XIV of the Income Tax Regulations are clarifying changes or...more

CRA Provides Update on Audit Priorities and Activities

by Dentons on 11/1/2012

At the Canadian Tax Foundation’s recent Ontario Tax Conference (October 29-30), the Canada Revenue Agency provided an update on its current audit priorities and activities as part of the conference’s “Tax Administration...more

BVI & Cayman Funds Round-Up: From FATCA to Fund Directors

by Harney Westwood & Riegels on 10/30/2012

Legislative Update - In the BVI, the BVI Business Companies Act has been amended to take into account a number of improvements and enhancements and to address a number of proposals that BVI practitioners had...more

New Law Requires Department of Revenue to Adopt "Rules" on Combined Reporting

by Brooks Pierce on 10/25/2012

Originally published in Tax Assessments, N.C. Bar Association - October 1, 2012. This summer, the North Carolina General Assembly revised our state’s “forced combination” corporate income tax statutes for the third time...more

Proposition 218’s Ban On Tax Increases Without Voter Approval Does Not Apply To Annexations

by Kronick, Moskovitz, Tiedemann & Girard on 10/17/2012

In Citizens Association of Sunset Beach v. Orange County Local Agency Formation Commission (--- Cal.Rptr.3d ----, Cal.App. 4 Dist., October 5, 2012), a California Court of Appeal considered whether Proposition 218’s ban on...more

Gillette Reinstated. If Compact is Elected, LCUP Penalty Shouldn't Apply

by Reed Smith on 10/10/2012

The First Appellate District of the California Court of Appeal has once again held that California taxpayers may avail themselves of the Multistate Tax Compact (the Compact) election, which allows for taxpayers to file...more

A Close Shave: California Court of Appeal Rules on Multistate Compact Election

by Sutherland Asbill & Brennan LLP on 10/3/2012

On October 2, 2012, the California Court of Appeal issued an opinion on rehearing in The Gillette Company et al. v. Franchise Tax Board, reversing in full the trial court’s decision in favor of the Franchise Tax Board (FTB)....more

Act 55 Charitable Exemption Standards Undermined Further

by McNees Wallace & Nurick LLC on 9/25/2012

The usefulness of the objective Charitable Exemption Standards set out in Act 55 of 1997, the Purely Public Charity Act, seems to have been further undermined by a recent Commonwealth Court decision. As discussed in our May...more

Tax Topics - September 2012

by Dentons on 9/24/2012

In This Issue: - "Mark Higgins Rallying (a Firm) V. The Commussioners for Her Majesty's Revenue and Customs - A Guide to Management and Control” . . . 1 - Parliament Returns from Summer Recess . . . 4 -...more

New Jersey VDA Program—Attractive Terms for IHCs

by Reed Smith on 9/24/2012

New Jersey has announced a new voluntary disclosure initiative for companies that own intangibles. If your intangible holding company (“IHC”) didn’t come forward previously, it should seriously consider coming forward now....more

Enactment of the French Second Amending Finance Act for 2012: Key Corporation Tax Measures

by K&L Gates LLP on 9/21/2012

The French Second Amending Finance Act for 2012 was adopted by the French Parliament on July 31, 2012 and was enacted on August 17, 2012 [the "Act"]. The core objective of the Act is to reduce the government deficit below...more

Sutherland Salt Shaker - Vol. 3, No. 4 - September 2012

by Sutherland Asbill & Brennan LLP on 9/20/2012

In This Issue: - Oregon DOR Out of Luck on SOL - SALT PET OF THE MONTH - To Be or Not to Be ASP: South Carolina’s Treatment of Bundled Services - Administrative Convenience Justifies Inequality in Tax Forgiveness...more

CA’s 20% LCUP Penalty Shouldn’t Apply to Compact Elections Under Gillette

by Reed Smith on 9/11/2012

Friday, Reed Smith partner and former FTB Chief Counsel Brian Toman submitted a written request for consideration at the FTB's meeting yesterday for the FTB to interpret the 20 percent Large Corporate Understatement Penalty...more

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Administrative Law › Tax Law › Business Organization