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Finance & Banking Tax Conflict of Laws

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“Path to Marijuana Reform” Legislation Introduced in Congress

by Tucker Arensberg, P.C. on

On March 30th, bipartisan U.S. lawmakers introduced a package of three marijuana reform bills collectively being called the “Path to Marijuana Reform” aimed to “pave the way for responsible federal regulation of the legal...more

Developing a Plan for Cannabis Industry Banking

Following voter approval of recreational cannabis, the California State Treasurer’s Office reported that by 2020 cannabis sales will increase by an estimated $6.64 billion. By taxing cannabis, California could bring in an...more

Before You Subscribe: Cannabis Investor Education

by Lane Powell PC on

WITH ANY BUSINESS OPPORTUNITY COMES RISK AND THE CANNABIS industry is no different. Cannabis investors need to consider whether the potential recipient of their investment dollars has sufficient liquidity and access to...more

Recreational Cannabis — Section 280E and Tax Efficient Structuring

Recreational cannabis businesses operate in a world of conflicting state and federal laws. Several states have legalized recreational cannabis, yet, under federal law, cannabis remains an illegal Schedule I drug under the...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

The ERISA Litigation Newsletter - December 2015

by Proskauer Rose LLP on

Editor's Overview - In this month's newsletter, we focus on the recent wave of guidance and case law related to the Affordable Care Act. We also discuss IRS Notice 2015-86, which provides guidance on the application of...more

Marijuana and the Tax Apocalypse

by Sanford Millar on

As Californians evaluate the potential for legalization of Marijuana it is important to consider the current state of conflict between state and federal laws and regulations regarding the production, distribution and sale of...more

PA Supreme Court Invalidates Local “Flat Tax” on Businesses

In Shelly Funeral Home, Inc. v. Warrington Township, 30 MAP 2010 (December 18, 2012), the Pennsylvania Supreme Court reversed a 2010 decision of the Commonwealth Court and held that a business privilege “flat tax” ordinance...more

Valuation of Common Areas for Property Tax Purposes

by Snell & Wilmer on

Originally published in the September/October 2012 30th Anniversary Issue of The Journal of State Taxation. James M. Susa focuses on the tax valuation of common areas within a planned community, noting that, while most...more

FBAR Deadline Approaches - Risks Increase

by Sanford Millar on

AS the June 30 deadline for filing a Report of Foreign Bank Account (FBAR) approaches the risks of non-compliance increase. A recent Petition to the U.S. Supreme Court illustrates the problem. The case, M.H. v. U.S arises...more

Investment Management Legal + Regulatory Update: February 2012

by Morrison & Foerster LLP on

In this issue: Senate Bill Would Raise Taxes on Derivatives Trades; Senate Hearings Question Fund Investments in Commodity-related Investments; SEC Grants No-action Relief for Potential Section 10(f) Violations; FINRA...more

Appeals Court Breathes New Life Into Overstated Basis Issue

by Charles (Chuck) Rubin on

On several occasions, we have written about cases where courts have held that the six-year extended statute of limitations for a 25% omission of gross income from an income tax return will not apply when the unreported...more

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