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Read need-to-know updates, commentary, and analysis on Communications & Media issues written by leading professionals.

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The new administration is working on a tax plan that would slash corporate tax rates to 15 percent and doing so with a hastiness that could jeopardize House Republicans’ ability to make the cuts permanent....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

China’s infamous shadow banking industry—an $8.5 trillion marketplace that’s sprung up in reaction to the government’s “campaign against financial leverage”—is back and bigger than ever these days....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Former AIG chief Hank Greenberg and his co-defendant, AIG’s former CFO, reached an “unexpected” settlement last week with NY officials. The duo will fork over about $10 million in bonuses payments and admit that they...more

Your daily dose of financial news - The Brief – 8.31.16

by Robins Kaplan LLP on

Continual rejections worked for Hershey in fending off Mondelez’s takeover bid. The Deal Professor thinks that Tronc faces considerable risks in following the same strategy with Gannett’s repeated overtures....more

New York Issues DFS Permits

Just days after a New York State’s Daily Fantasy Sports law was passed, the New York Gaming Commission announced it has issued temporary permits to 5 DFS operators. The companies are DraftKings, FanDuel, Yahoo, Fantasy Draft...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update

by Reed Smith on

Is Pennsylvania bringing back its tax on “computer-related services”? Pennsylvania’s new “Netflix” tax (enacted as part of Act 84 of 2016) covers more than just digital downloads and streaming services. Effective August 1,...more

Pennsylvania Enacts Tax Bill as Part of Budget Package

by Reed Smith on

Pennsylvania has enacted tax law changes projected to generate $752M in new revenue. The changes include severe restrictions on the vendor sales tax discount for timely filing, imposition of sales tax on digital downloads and...more

Naming Rights, Sponsorships, Advertising and Other Private Business Use Relating to Texas Public High School Stadiums and Other...

In addition to building some of the nation's largest high school football stadiums, Texas public school districts are following a national trend – the sale of naming rights to football stadiums and other district facilities....more

Sprint FCA Case Denied Certiorari by U.S. Supreme Court

by Reed Smith on

On May 31, 2016, the U.S. Supreme Court denied certiorari in a challenge by Sprint Nextel Corp. (“Sprint”) to a False Claims Act (“FCA”) lawsuit by New York state against it for sales taxes not collected and remitted on...more

Florida Supreme Court: Origin Sourcing for Sales Tax is Constitutional

by Reed Smith on

The Florida Supreme Court upheld the imposition of a sales tax obligation on an in-state florist for all of its worldwide sales regardless of delivery destination. This “origin sourcing” method of determining transactions...more

FCC Chairman Previews Proposed Regulations for Implementing New TCPA Exemptions

by Ballard Spahr LLP on

A recent letter from Federal Communications Commission (FCC) Chairman Tom Wheeler describes the regulations being considered by the FCC for implementing new Telephone Consumer Protection Act (TCPA) exemptions for calls made...more

E-Commerce: Do I have an obligation to collect state sales tax?

by Bryan Cave on

When making sales or conducting business on the internet, it is easy to overlook state sales tax. Whether you make a sale of tangible property online, on the phone, by fax, via a purchase order, or other medium, you are...more

Burr Alert: New Tennessee Reporting Requirements for Banks and Online Payment Networks

by Burr & Forman on

With the start of the 2016 tax reporting season, taxpayers making certain payments to a person or entity with a Tennessee address may find that Tennessee has added to the number of information returns they need to file....more

Your daily dose of financial news The Brief – 11.20.15

by Robins Kaplan LLP on

The US Treasury Department and IRS are joining forces to address corporate tax inversions with the introduction of new measures aimed at “curtailing companies’ ability to avoid United States tax rates if they move to...more

IRS Proposed Tax Regulations Aimed at Fee Waiver Arrangements

by DLA Piper on

The Treasury Department and the Internal Revenue Service have issued proposed regulations addressing disguised payment for services of a partner, including the proper tax treatment of fee waiver arrangements commonly used by...more

Goodwill and Section 1031 Exchanges Do Not Mix Well

by Garvey Schubert Barer on

The goodwill of a business can never be exchanged for the goodwill of another business. Goodwill is not like kind property. Treasury Regulation 1.1031(a)-2(c)(2) makes that crystal clear, providing: "The goodwill or...more

Crowdfunding: Update From the CRA

by Dentons on

In a short technical interpretation (CRA Document 2015-0579031I7 “Crowdfunding” (April 1, 2015)), the CRA has restated its views on the tax treatment of amounts raised via crowdfunding arrangements. The CRA stated that...more

Ontario’s 2015 Budget Makes Changes to Cultural Tax Credits

by Dentons on

The Ontario government released its 2015 Budget on April 23, 2015 – and it makes some significant changes to Ontario’s cultural tax credit regime, including the elimination of the sound recording tax credit. (Please note that...more

Cuba Today

by Cozen O'Connor on

One week ago, I visited Cuba with a delegation from the American Bar Association’s International Law Section. During our visit, we met with government officials, attorneys, law professors, foreign businessmen, journalists...more

2015: A New Agenda for Europe

by K&L Gates LLP on

Every year, the European Commission (the Commission) adopts a plan of action for the next 12 months. The Work Programme for 2015 is the first one to be presented by the Juncker Commission. It translates into concrete actions...more

Tax Challenges Raised by the Digital Economy

by K&L Gates LLP on

On September 16, 2014, the Organisation for Economic Cooperation and Development (“OECD”) released a report on Action 1 of the OECD/G20 Base Erosion and Profit Shifting Project (also known as the “BEPS” project) titled...more

Base Erosion and Profit Shifting: The Australian Perspective

by K&L Gates LLP on

In July 2013, the G20 Finance Ministers, including Australia, fully endorsed the base erosion and profit shifting (BEPS) Action Plan. As a result of the Action Plan, the Australian government encouraged a new commitment to...more

The Lame Duck Has Arrived: What To Expect

by Mintz Levin - ML Strategies on

In the great tradition of American democracy dating back to the election of the First Congress in 1778, voters cast their ballots last week, giving the Republican Party control of the upcoming 114th Congress. In a...more

IRS Ruling Creates Opportunities for Tax Savings by Companies With Substantial Real Estate Assets

On July 29, Windstream announced that it plans to spin off certain telecommunications network assets into an independent, publicly traded real estate investment trust (REIT). Windstream made the announcement after it obtained...more

Are REITs a Viable Strategy for Communications Companies?

by Davis Wright Tremaine LLP on

Windstream Holdings, Inc. recently announced plans to spin off its copper, fiber and other fixed real estate assets into an independent publicly traded real estate investment trust (REIT). Windstream received a private letter...more

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