Education Tax

Read need-to-know updates, commentary, and analysis on Education issues written by leading professionals.
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End of Year Legislative Agenda

With the House and Senate in recess this week for the Thanksgiving holiday, there are now only a very limited number of scheduled legislative days left for the year – 12 in the House and 15 in the Senate – and there is...more

Helpful News from IRS on Student Loan Bonds

On November 13, the IRS issued Notice 2015-78, providing favorable guidance on topics of interest to providers of “supplemental” or “alternative” student loans financed with tax-exempt bonds and to underwriters of such...more

NC Legislative Update: 2015 Session in Review

2015 Session in Review - The North Carolina General Assembly adjourned just after 4:00 in the morning on Wednesday September 30th, 2015. Barring the Governor calling legislators to return for a special session, the...more

Appellate Court Overturns School District’s Attempt to Vacate Ill-Advised Tax Rate Objection Settlement Reached by State’s...

Last week, an Illinois Appellate Court denied several school districts’ attempt to vacate a settlement agreement between the taxpayers’ attorney and the Will County State’s Attorney’s Office in a tax rate objection case. The...more

News from Second and State

As promised last week, on Wednesday the House of Representatives held a vote on a portion of Governor Wolf’s budget proposal. The proposal was not a General Appropriations or “revenue spending bill”; it was a legislative...more

Now to End of 2015 – What to Expect?

Funding Crisis Averted & New Leadership in the House: A week ago no one could have predicted that the biggest story in Washington this week would not be the last minute avoidance of a government shutdown by passage of a...more

NC Politics in the News

CHARLOTTE BUSINESS JOURNAL: Incentives cap for N.C. urban areas removed from compromise bill - A compromise N.C. incentives bill exempts the state's urban areas from a cap on the value of incentives offered each year to...more

North Carolina General Assembly Week in Review

On Monday afternoon, 76 days after the new fiscal year (FY) began, Speaker of the House Tim Moore (R-Cleveland) and President Pro Tempore Phil Berger (R-Rockingham) held a press conference to unveil the details of the new...more

NC Legislative Update for September 2015

This Week - There was little action taking place in public this week at the North Carolina General Assembly. Both chambers kept relatively sparse calendars and neither chamber held any Committee meetings. The low...more

Good News (x2) from the IRS for Colleges and Universities!

Colleges and universities get additional penalty relief regarding Forms 1098-T (Student Tuition Statement). Background. Each year, on an IRS Form 1098-T, colleges, universities, vocational schools and other...more

Obtaining Relief from Penalties Related to IRS Form 1098-T Filing Deficiencies

It has been reported that many colleges and universities have received IRS Notices assessing significant penalties for failing to provide accurate or complete information on IRS Forms 1098-T. Going forward, colleges and...more

NC Legislative Update for August 2015 #3

This Week - Amid the budget deliberations, the General Assembly took time Tuesday to commemorate the 70th anniversary of the end of the war World War II. Senate Joint Resolution 720, passed by both the House and the...more

School Buses Exempted from Property Tax

While children sing the “Wheels on the Bus Go Round and Round” as they head to school, it is highly doubtful that they ponder who has to pay the taxes for those wheels. Yet, this very question arose recently in the New...more

Important Tax Provisions Contained in Acts Extending Highway Trust Fund and Trade Preferences

On July 31, 2015, President Obama signed P.L. 114-41, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (“Highway Act”), into law. Although the Highway Act is primarily for the purpose of...more

The ABLE account: A good alternative to a special needs trust?

Late last year, Congress passed, and the President signed, the Achieving a Better Life Experience (ABLE) Act. The act authorizes a new, tax-advantaged savings account, modeled after the Section 529 college savings account,...more

Property Tax Exemption for Residential Properties Revoked for Many Connecticut Colleges and Universities

During the recently concluded special session, the Connecticut General Assembly approved, and the Governor subsequently signed into law, Section 244 of Public Act No. 15-5 (June Special Session) that revokes the property tax...more

A Tax Policy Decided 15 Years Ago Raised Questions for Unending Debate

We are just a few months away from the 15th anniversary of the historic November, 2000, election when Massachusetts voters approved a referendum calling for the reduction of the state income tax rate from 5.95% to 5%. No...more

Illinois Court Finds Special Property Tax Exemption Unconstitutional

A property tax exemption designed to benefit a single aviation company was recently found unconstitutional by the Illinois Appellate Court. The exemption was only for fixed base operators (FBOs) providing aeronautical...more

Medical Residents Held Subject to FICA

In the case of University of Texas System v. U.S., 759 F.3d 437, (2014) the U.S. Supreme Court on April 27, 2015 declined to review a decision of the U.S. Fifth Circuit Court of Appeals which, affirming the district court,...more

Alabama 2015 Regular Session Legislative Summary: June 2015

The Alabama Senate adjourned sine die on Thursday, June 4, and the Alabama House of Representatives met for their last day on Thursday, June 11. Although the legislature passed a record-setting, $6 billion Education Trust...more


We’re a little late with the round-up, but promise to continue our effort to bring you interesting stories from the intersection of religion and government. - Mayfair, Pennsylvania residents feel disappointment after...more

Under the Dome: Inside the Maine State House

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Budget Approved by Legislature - Early Wednesday morning the Maine House and Senate...more

House Bill 15-1348-Urban Renewal – Frequently Asked Questions

H.B. 15-1348 was signed by the Governor on May 29. The bill enacts several changes related to urban renewal authorities and tax increment financing for such authorities including governance changes and changes related to how...more

Nevada Legislature Changes Procedure For Certain Bonds (AB 170)

AB 170, a bill amending NRS 350.020 passed by the Nevada Legislature, was signed by the Governor on June 11, 2015. It amends subsection 3 of NRS 350.020 which specifies the procedures to be followed to issue general...more

[Event] The 2015 Accountant Liability Update, A Game of Risk: To Play or to Win? - June 25, Waltham, MA

LeClairRyan invites you to join us for a free half-day seminar The 2015 Accountant Liability Update, A Game of Risk: To Play or to Win? Predictability. Focus. Staying on Point. On a familiar playing field – you can make...more

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