Read Civil Procedure updates, alerts, news, and legal analysis from leading lawyers and law firms:
Legal Rights When Moving - Interview of Larry Bodine on Better Kansas City KCTV 5
Larry Bodine's Interview on News 4 Jax (WJX4)
Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
Does Canada Need a New Uniform Arbitration Law?
Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
Serving Legal Documents Through Social Media
Supreme Court Closes CAFA Loophole in Standard Fire v. Knowles
Bill on Bankruptcy: Sigmund Freud, Marx Brothers, Bernie Madoff
Viewer's Guide to Gay Marriage Oral Arguments
Arbitration - An Alternative to Litigation for Dispute Resolution
Weekly Brief: 78% of Law Schools Ignore ABA Rule
Bill on Bankruptcy: Secret Madoff Agreement May Harm Victims
Street Legal Cars
Newsbreak: Surprising Results in Three Cases
Will The Debt Ceiling Standoff End Up In Court?
Newtown Shootings Could Give Rise to More Litigation, Says Pinsky
Bill on Bankruptcy: Big Surprises For AMR, MF Global Creditors
Grassley: HSBC Should Face Criminal Charges
Bill on Bankruptcy: Patriot Coal Case Kicked From Manhattan To St. Louis
A California Superior Court has issued a decision with significant impact on financial services. In the case, Harley-Davidson, Inc. v. Franchise Tax Board, San Diego Superior Court Judge Joel Pressman held that...more
Most states will suspend or involuntarily dissolve a corporation if it does not pay local taxes or fees. Such suspensions and dissolutions can typically be reversed after the corporation files to be restored and pays any back...more
Welcome to the first of a new series of quarterly updates from Reed Smith on state tax developments in Illinois. Every three months we will be giving you updates on the key cases and administrative releases, as well as...more
In a petition recently filed in the U.S. Tax Court, a taxpayer has challenged the Internal Revenue Service (IRS) regulation that provides that the IRS can reallocate income between affiliates even when foreign law prohibits...more
Since 1995, the Large Corporation Rules found in subsections 165(1.11), 169(2.1) and 152(4.4) of the Income Tax Act (Canada) have applied to discourage large corporations from objecting to tax assessments as a means of...more
Cyprus has been in the spotlight recently due to the negotiations with what has become known as the troika (the International Monetary Fund, the European Central Bank and the European Commission)...more
Piercing the Corporate Veil: VTB Capital plc v. Nutritek International Corp and Others  UKSC 5 - In a recent case, the United Kingdom Supreme Court unanimously refused to pierce the corporate veil in order to treat an...more
Danielle Bourhis et al. v. John Lord et al.
Supreme Court of California (March 4, 2013)
Under the Revenue and Tax Code, a suspended corporation forfeits its corporate powers, rights and privileges by failing to pay...more
On January 8, 2013, we published a newsletter (a copy of which can be found here) detailing the Franchise Tax Board's ("FTB") questionable legal and policy decision to begin collecting on a retroactive basis approximately...more
The state, of course, likes to see corporations pay their taxes. When a corporation fails to do so, “the corporate powers, rights and privileges of a domestic taxpayer may be suspended, and the exercise of the corporate...more
Decisions regarding executive compensation fall squarely within the discretion of a public company’s board of directors. Recently, however, plaintiffs’ firms have been trying to invade the board’s purview by bringing...more
The Supreme Court has given judgment in a long awaited case on whether or not legal advice given by accountants is privileged. The case is R (on the application of Prudential plc and another) (Appellants) v Special...more
The California Franchise Tax Board (FTB) recently issued FTB Notice 2012-03, stating that the FTB will disallow the exclusion or deferral of gain under California's qualified small business stock (QSBS) statute for all tax...more
On January 14, 2013, the Delaware Supreme Court affirmed a trial court's denial of attorneys' fees in connection with a corporate waste claim filed against corporate board members for the board's decision to pay certain...more
On January 8, the Supreme Court of the United States heard oral arguments in Gabelli v. S.E.C., 133 S. Ct. 97 (2012) on the question: By when must the government initiate an action to enforce a civil fine, penalty, or...more
In this memorandum opinion, the Delaware Court of Chancery denied motions to dismiss for lack of subject matter jurisdiction, failure to state a claim upon which relief could be granted, and improper venue. ...more
The Federal Court of Appeal has dismissed the taxpayer’s appeal in Morguard Corporation v The Queen.
Justice Sharlow wrote for the panel which also included Justice Evans and Justice Stratas. She agreed with the...more
Is a “break fee” received in return for withdrawing from a takeover bid a capital receipt or an income receipt?
That was the issue before a panel of the Federal Court of Appeal (“FCA”) on November 20, 2012 in Morguard...more
Tomorrow morning (November 20, 2012), the Federal Court of Appeal is scheduled to hear an appeal by Morguard Corporation (“Morguard”, formerly operating as Acktion Corporation), regarding the taxation of a “break fee”...more
In what circumstances may the Superior Court of Quebec correct a written instrument that does not reflect the parties’ intent? That is the question that was considered by the Supreme Court of Canada on November 8, 2012 on...more
In This Issue:
Appellate Court Holds “Reconstitution” of Housing Cooperative Is Not Subject to City Transfer Tax; Trial Court Upholds Retroactive Application of 2010 Statutory Amendment; Tribunal Holds S Corporation...more
Facts & Law:
A. Income taxes must be assessed within 3 years of the later of the date the return is filed or the due date of the return.
B. However, the assessment period remains open indefinitely “in the...more
In This Issue:
To Be Or Not To Be: Nonbusiness Income; Upcoming 2012 Speaking Engagements; The Unitary Business Principle Applies to More Than Corporate Net Income Taxes: Reynolds Metals Company v. Department of...more
On April 26, 2012, Justice J.E. Hershfield of the Tax Court of Canada heard arguments in Nuclear Waste Management Organization v. The Queen in respect of a reassessment under the Canada Pension Plan (the “Plan”). In written...more
Originally published in Journal of Taxation - June 2012.
This article focuses on the Tax Court’s curious opinion last year in Renkemeyer, Campbell & Weaver, LLP v. Commissioner of Internal Revenue. In this case of first...more
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