Science, Computers & Technology Tax

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Are eFax services taxable telecommunications services in Massachusetts?

While Massachusetts’ expansion of its sales tax to include computer-related services was repealed within three months of its enactment, the Massachusetts Department of Revenue continues to take a close look at sales treated...more

Five Things to Know about New Jersey’s Taxation of Convertible Virtual Currency

On March 10, 2015, the New Jersey Division of Taxation issued Technical Advisory Memorandum TAM-2015-1, explaining its policy regarding convertible virtual currency. - The IRS has held that convertible virtual currency...more

Week in Review - April 2015 #3

Tax Revenue - Minnesota raked in $100 million more in tax collections in February and March than State forecasters had predicted. The Minnesota Management and Budget Department said the additional revenue topped...more

Tech Industry Bulletin

In this Issue: - Corporate: Negotiating Strategies for the Sale of Technology Companies - Intellectual Property: Crowdfunding and Confidentiality for Tech Start-Ups - Real Estate: An Introduction to...more

Five Things to Know about New Jersey’s Taxation of Convertible Virtual Currency

On March 10, 2015, the New Jersey Division of Taxation issued Technical Advisory Memorandum TAM-2015-1, explaining its policy regarding convertible virtual currency. The IRS has held that convertible virtual currency (CVC),...more

Missouri Passes Data Center Incentive Legislation

Missouri recently joined the growing number of states that have created incentives for the construction or expansion of data center facilities. The new law, signed on April 9, 2015, provides exemptions from various state and...more

March 20, 2015 Legislative Update

The General Assembly is in full spring tilt. Next Thursday is the bill introduction deadline for non-money bills and folks are busy pitching their ideas and lining up support. ...more

Washington Healthcare Update

This Week: CMS Releases Three Documents on Biosimilar Reimbursement... SCOTUS: Agencies, Not State Courts, in Charge of Medicaid Rate Setting... HHS OIG and Treasury IG Release Report on ACA’s Advanced Premium Tax Credits....more

North Carolina General Assembly Week in Review

Members of the North Carolina General Assembly had a full schedule this week, considering bills on everything from restructuring the State’s sales tax plan to reopening one of the State’s largest inlets. ...more

Bitcoin and the Like: Tax Considerations

Virtual currency is a new, untested, and unregulated asset. The Internal Revenue Service (IRS) defines “virtual currency” as a digital representation of value that functions as a medium of exchange, a unit of account, and/or...more

Tax Policy Update

NUMBER OF THE WEEK: $23 Billion. The total revenue generated by the additional Medicare tax and the net investment income tax used to pay for the Affordable Care Act. The total exceeds the Joint Committee on Taxation’s 2010...more

Washington Healthcare Update

This Week: House Approves FY 2016 Budget Proposal... House Passes Permanent SGR Reform and Two-Year CHIP Reauthorization... Senate Passes FY 2016 Budget Plan... HHS Report: ACA Led to $7.4 Billion Decline in Uncompensated...more

Innovation Districts

Last year representatives of a coalition of 11 organizations started meeting to discuss the continued development and expansion of Oklahoma City’s bioscience and technology sectors. Among other matters, the group discussed...more

Washington Healthcare Update

1. Congress - House - House Republican Working Group Outlines King v. Burwell “Off-Ramp” Plan The House Republican Health Care Working Group has released an outline of policies they would support if the...more

Tax Injunction Act Does Not Bar Suit by Online Retailers Trade Association, But May Not Be the Last Word on Taxation of Online...

The U.S. Supreme Court unanimously held on March 3 that the Tax Injunction Act does not bar a lawsuit brought by the Direct Marketing Association, a trade association of retailers, challenging the enforcement of a Colorado...more

Digital Currency (incl bitcoin) inquiry report delayed; GST position should be clarified

The Senate referred an inquiry into Digital Currency (which includes, but is not limited to, bitcoin) to its Economics References Committee on 2 October 2014. Submissions to the inquiry closed on 28 November 2014 and the...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. Public Hearings on Governor’s Tax Reform Proposal Complete - This week, the Appropriations...more

Japan: Significant Changes In Consumption Tax

Raise in Consumption Tax Rate Postponed - On November 18, 2014, Shinzo Abe, the Japanese Prime Minister, officially announced that the increase of the consumption tax rate which was originally planned to occur in October...more

Washington Healthcare Update

This Week: Upcoming Hearing: HHS Sec. Burwell Appearing Before E&C Committee on FY2016 Budget... CMS Issues 2016 Payment and Policy Updates for Medicare Health and Drug Plans... CMS Releases Improved Rating System for Nursing...more

The Digital Economy: The Tax Man is Coming

Once again, we find ourselves faced with a proposal attempting to target and provide special tax rules for income generated in the digital economy. As was the case in the previous year’s budget proposal, the Administration’s...more

New York State Division of Tax Appeals Renders Long-Awaited Decision Regarding Corporate Franchise Tax Sourcing of Services and...

For years, both the New York State Department of Taxation and Finance (the “Department”) and the New York City Department of Finance have aggressively sought to classify receipts generated by electronic or online service...more

Feedlot Health Management Services Ltd v The Queen, 2015 TCC 32 - The Tax Court Considers Fundamental SR&ED Principles

Bennett Jones LLP represented Feedlot Health Management Services Ltd. (FHMS) in the recent Tax Court of Canada proceeding, Feedlot Health Management Services Ltd v The Queen (2015 TCC 32). The case concerned certain...more

Details of Governor Bill Haslam’s “Revenue Modernization Act” Emerge: Broad-Sweeping Tax Proposals to all Major Tennessee Taxes

The Administration introduced the “Revenue Modernization Act” on February 11 in the Senate Finance Committee, and the proposal includes numerous modifications to all Tennessee’s major taxes, including economic nexus,...more

With Cert Denial, Fed’s Interchange Rules Will Stand

Why it matters - With the U.S. Supreme Court’s denial of certiorari, the Board of Governors of the Federal Reserve Board’s interchange rules will stand. The justices declined to hear an appeal from retailers without...more

New York State ALJ Determines Travel Reservation Facilitation Receipts and Online Advertising Receipts Constitute Service Receipts...

There has been significant controversy in New York regarding whether receipts from services—particularly those that may be delivered via the Internet—constitute “service” receipts or “other business receipts” for corporate...more

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