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Southeast State & Local Tax: Important Developments - August 2014

The Williams Mullen Southeast State and Local Tax (SESALT) team is pleased to provide you with a comprehensive recap of important tax developments around the Southeast....more

Indiana Supreme Court Refuses To Apply A Company’s Foreign Source Dividend Deduction To Its NOL Calculations

On August 25, 2014, the Indiana Supreme Court issued its decision in Indiana Department of State Revenue v. Caterpillar, Inc., holding that the plain meaning of the Indiana tax statutes prohibited the company from increasing...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update: August 2014

This is a brief update on recent Pennsylvania tax developments. FY15 Budget Enacted—Includes Little Tax Reform Earlier this summer, Governor Corbett signed into law the fiscal year July 1, 2014 through June 30, 2015...more

Cook County Use Tax Update – Reed Smith Wins Appeal – Ordinance Invalid

On August 4, 2014, the First District Illinois Appellate Court affirmed a lower court decision invalidating Cook County’s Non-Titled Personal Property Use Tax (the “Use Tax”). The Appellate Court dismissed as moot the...more

If At First You Don’t Succeed, Try, Try Again: Illinois General Assembly Sends Revised Version of Click-Through Nexus Law to the...

In 2011, Illinois became one of the first states to follow New York’s lead by enacting “click-through nexus” legislation. The Illinois law created nexus for any out-of-state retailer that contracted with a person in Illinois...more

Was It Wirth It? The Pennsylvania Supreme Court Sets a Low Bar for Minimum Contacts

In Wirth v. Commonwealth, the Supreme Court of Pennsylvania held that Pennsylvania personal income tax applied to non-resident limited partners whose only connection with the state was the ownership of a small interest in a...more

Hotel Reassessment Invalid When LLC Owning Hotel Sells 100 Percent Membership Interest But No Person Or Legal Entity Obtains More...

The rule set out in California Code of Regulations Title 18 Section 462.180(d)(1)(B) provides there is a change in the ownership of real property owned by an LLC, "when any corporation, partnership, LLC, or any person… obtain...more

Allied Domecq: Nexus-Combined Reporting

In Allied Domecq Spirits & Wines USA, Inc. v. Commissioner of Revenue, the Massachusetts Court of Appeals held that the parent company of a Massachusetts taxpayer could not be included in the taxpayer’s Massachusetts...more

United States Supreme Court to Review Ruling in Direct Marketing

On July 1, 2014, the United States Supreme Court agreed to review the 10th Circuit Court of Appeals decision in Direct Marketing Association v. Brohl. The Court of Appeals held that federal courts lack jurisdiction under the...more

Washington State Proposes Increasing Scope of B&O and Sales Taxes

The Washington Department of Revenue recently announced that it intends to substantially revise Rule 193, its administrative rule regarding B&O and sales taxation on sales of tangible personal property. Major proposed changes...more

French 3 Per Cent Tax on Distributions: French Subsidiaries of Foreign Companies Should Consider Claiming a Refund

Scope of The 3 Per Cent Tax - The 3 per cent tax is levied on dividend distributions and/or deemed dividend distributions by French companies, French permanent establishments and other French entities that are liable...more

Further Clarification On The Constitutionality Of Exported Coal Reclamation Fee Is Delayed

The D.C. Circuit has decided against ruling on the substance of whether the Abandoned Mine Land reclamation fee and the regulatory methods the Office of Surface Mining uses to collect it on exported coal create an...more

Oklahoma Capital Gain Deduction Upheld by Oklahoma Supreme Court

The Oklahoma Supreme Court has ruled that the Oklahoma income tax capital gains deduction is allowable and does not violate the Commerce Clause of the U.S. Constitution. The denial of the deduction to an out-of-state company...more

Is SLIMPACT Losing Steam? Tennessee Switches To NIMA

As part of the passage of the Dodd–Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) in July, 2010, Congress incorporated the Nonadmitted Insurance and Reinsurance Reform Act (“NRRA”), which provides that...more

MoFo New York Tax Insights - Volume 5, Issue 5 - May 2014

In This Issue: - Two Combined Reporting Decisions Highlight Issues Involving “Permissive” Combined Reporting - New York State Corporate Tax Reform Legislation Enacted – What You Need to Know - Appellate Court...more

Will the German interest deduction limitation rules be found unconstitutional? Action steps for taxpayers as the courts decide

In a decision dated December 13, 2013 but only published recently, Germany’s Federal Tax Court has suspended execution of a German corporate income tax assessment to the extent that it was levied on the basis of the...more

State + Local Tax Insights -- Spring 2014

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

MoFo New York Tax Insights - Volume 5, Issue 4 - April 2014

In This Issue: City ALJ Holds First Amendment Requires Exercise of Discretionary Authority for Sourcing Receipts from Providing Credit Ratings; Tribunal Affirms Partial Day Count for Statutory Residency Purposes; ALJ...more

MoFo New York Tax Insights - Volume 5, Issue 4 - April 2014

In This Issue: City ALJ Holds First Amendment Requires Exercise of Discretionary Authority for Sourcing Receipts from Providing Credit Ratings; Tribunal Affirms Partial Day Count for Statutory Residency Purposes; ALJ...more

April Fools? No Joke, Virginia Law Limiting Addback Exceptions To Be Applied Retroactively for 10 Years

On April 1, 2014, Virginia Governor Terry McAuliffe signed HB 5001. This law imposes severe restrictions on the existing exceptions to intangible expense addback to Virginia taxable income. Specifically, the new law limits...more

Court Continues A Fairly Busy Term

Perhaps coincidence, perhaps not, but on "Cyber Monday" the U.S. Supreme Court refused to "click yes" to consider two cases contesting the constitutionality of click-through-nexus when, as discussed further below, it denied...more

Victory for the Taxpayer in Validus: District Court Holds that Federal Excise Tax Does Not Apply to Retrocessions

On February 5, the U.S. District Court for the District of Columbia issued its opinion in Validus Reinsurance, Ltd. v. United States, which is the first case to involve a challenge to the IRS’s position on the “cascading”...more

MoFo New York Tax Insights - Volume 5, Issue 2 - February 2014

In This Issue: Governor Cuomo Releases Ambitious 2014-15 Executive Budget; Third Department Holds Transfer of Condemned Property Did Not Occur Until After Gains Tax Was Repealed; Trial Court Upholds Constitutionality...more

State + Local Tax Insights -- Winter 2014

In This Issue: Ringing in the New Year: Issues from 2013 That Will Likely Impact 2014; Upcoming Speaking Engagements; Defending Against Penalties; and Dueling “Doing Business” Interstate-Commerce Exemptions:...more

New Jersey Throwout: Tax Court Amplifies Its No Dual Nexus Decision

The New Jersey Tax Court issued a written amplification of its bench decision in Lorillard Licensing Company LLC’s appeal that the Division of Taxation may not apply dual nexus standards for Throwout purposes. In...more

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