Tax Law, Administrative Law, Commercial Law & Contracts

Assessment Appeals Commission Holds that Personal Property is Valued at Capitalized Cost

by Brett R. Carter, Joseph Gibbs, Patricia Head Moskal | Bradley Arant Boult Cummings LLP on 2/25/2013

The Assessment Appeals Commission (“AAC”) of the Tennessee State Board of Equalization has reversed a 2011 administrative law judge decision, holding that intangible costs (such as freight, installation, engineering costs and...more

IRS "Fresh Start Program" Offers More Taxpayers Greater Opportunity to Resolve IRS Debts

by Mary Beth Lee | Duane Morris LLP on 1/16/2013

If you currently owe back income and/or payroll taxes, the Internal Revenue Service's (IRS) recently initiated "Fresh Start Program" may now make either (1) the installment agreement or (2) an Offer in Compromise (OIC) a more...more

CRA Releases New APA Report

by Matthew Peters | Dentons on 1/15/2013

This is the eleventh year in which the CRA has issued such a report, which is generally intended to enhance taxpayer awareness of the APA program and to describe (i) current operational status, (ii) relevant changes, and...more

The American Taxpayer Relief Act of 2012 and What It Means to You

by Jonathan R. Flora, James Olson | Schnader Harrison Segal & Lewis LLP on 1/11/2013

On Jan. 2, 2013, President Obama signed the “American Taxpayer Relief Act of 2012” (the “Act”) which was passed by the House and Senate the previous day to avoid the so-called “fiscal cliff.” The Act prevents many of the tax...more

Doing Business In Arizona - A Legal Guide

Contents: Part I: A Brief Factual Look at Arizona: - Population and Job Growth - Personal Income - Exports - Leading Industries - Location - Business Costs - Labor Force - Education -...more

MoFo New York Tax Insights - Volume 4, Issue 1 - January 2013

by Paul Frankel, Hollis L. Hyans, Kara M. Kraman, Amy F. Nogid, Irwin M. Slomka | Morrison & Foerster LLP on 1/4/2013

In This Issue: Court of Appeals Reverses Appellate Division, Holds that EchoStar’s Equipment Purchases Qualified as Sales for Resale; Appellate Court Holds Electronic Messaging Services Subject to Sales Tax; ALJ Finds...more

Excise Tax Kicks In Jan. 1 On Certain Medical Devices

by Scott D. Alfree, Lawrence P. Burns, Pamela Emenheiser, Zachary J. Meyer | Varnum LLP on 12/28/2012

Beginning January 1, 2013, manufacturers and importers of certain medical devices will be required by the U.S. Internal Revenue Service (IRS) to pay a new 2.3 percent medical device excise tax on the sales of taxable medical...more

CFPB proposes changes to remittance transfer rule and delay in effective date

by Ballard Spahr LLP on 12/27/2012

The CFPB has issued a proposal to make revisions to the remittance transfer rule and delay the rule’s effective date. The CFPB had announced its plans to make the proposal in a bulletin it issued in November....more

Foley Hoag and AdvaMed Collaborate on Industry Guidance on Retail Exemption in Final Device Tax Regulations

by Thomas Barker, Ross Margulies | Foley Hoag LLP on 12/24/2012

Foley Hoag and the Advanced Medical Technology Association (AdvaMed) collaborated on an important resource guiding manufacturers, importers, and producers of taxable medical devices through the newly released Internal Revenue...more

Health Reform + Related Health Policy News Update - December 19, 2012

by Polsinelli on 12/20/2012

In This Issue: - President Opposes Medical Device Tax Repeal or Replace - Senators Call for Extension of Comment Period on ACA Proposed Rules - AHA Urges U.S. District Court to Expedite Case Involving CMS' Payment...more

IRS Releases Final Rule on Medical Device Tax

by King & Spalding on 12/18/2012

Last week, the IRS and the Treasury Department published final regulations regarding the medical device excise tax under § 4191 of the Internal Revenue Code (IRC). IRC § 4191, which was enacted by the Health Care and...more

Court Holds Severance Payments Not Subject To FICA Taxes; Refund Claims Should Be Filed Soon

by Brian M. Johnston, D. Scott Lindstrom, William J. Sanders, David N. Zimmerman | Polsinelli on 12/17/2012

In its recent decision, the United States Court of Appeals for the Sixth Circuit in U.S. v. Quality Stores, Inc., No. 10-1563 (6th Cir., 9/7/2012) held that certain severance payments made to former employees were not subject...more

EU Customs Practice Group - November 2012

by White & Case LLP on 12/15/2012

In This Issue: * EU CUSTOMS POLICY - MCC/UCC recast proposal * TARIFFS - Update on duty suspensions/tariff quotas - EU preferences adopted for Pakistan - FTA update * CLASSIFICATION -...more

The Top 10 Things That Every Business Owner Should Do At Year-End

by Scott Legal Services, P.C. on 12/14/2012

As a business owner, all year you have likely been running around acting as manager, developer, business generator, marketer, human resource manager and administrative assistant. Given the numerous roles, it is often tough...more

New Rules Will Be “Taxing” On Medical Device Manufacturers

by Christine J. Kim, Richard (Rich) E. Peterson | Perkins Coie on 12/13/2012

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) recently issued much-anticipated final regulations under Section 4191 of the Internal Revenue Code (Code), which imposes a 2.3% tax on sales of any...more

IRS Issues Device Tax Regulations; Industry Braces for 2013 Implementation

by Frances Emmeline Babb, M. Elizabeth Bierman, Michele L. Buenafe, Roderick K. Donnelly | Morgan Lewis on 12/12/2012

Pending the January 1 effective date, final regulations and interim guidance on the medical device excise tax provide some clarity but leave many questions unanswered. On December 7, the Internal Revenue Service (IRS)...more

IRS Issues Final Regulations Implementing the Affordable Care Act’s Medical Device Excise Tax

by King & Spalding on 12/12/2012

On December 5, 2012, the Internal Revenue Service (IRS) published final regulations regarding the implementation of the excise tax applicable to the sale of certain medical devices, enacted by the Patient Protection and...more

Final Rules Issued for Health Care Reform Tax on Medical Devices, Effective January 1, 2013

by Jean C. Hemphill, Laura A. Kowal | Ballard Spahr LLP on 12/11/2012

The Internal Revenue Service (IRS) released final regulations and other guidance on the excise tax applicable to the sale of certain medical devices under the Affordable Care Act. Beginning January 1, 2013, a tax of 2.3...more

United States Signs Bilateral Agreements to Implement FATCA with Denmark and Mexico

by Jonathan E. Gopman, Elysa R. Merlin, Barbara E. Ruiz-Gonzalez, Sherwin P. Simmons, II | Akerman Senterfitt on 12/6/2012

The United States has entered into its second and third bilateral agreements regarding the implementation of FATCA with Denmark and Mexico, respectively. FATCA was enacted in 2010 as part of the Hiring Incentives to Restore...more

MoFo New York Tax Insights - Volume 3, Issue 12 - December 2012

by Open Weaver Banks, Kara M. Kraman, Amy F. Nogid, Irwin M. Slomka | Morrison & Foerster LLP on 12/5/2012

In This Issue: Court Holds Television Programming Is Included in the Property Factor Regardless of Delivery Method; ALJ Upholds Retroactive Application of Stock Option Regulations; Petition Found Untimely Under Special...more

Year-End Deadline Approaching for Code Section 409A Corrections

by Duane Morris LLP on 11/30/2012

Employers should be aware that December 31, 2012, is the Internal Revenue Service's (IRS) deadline for correcting certain documentary violations under Internal Revenue Code Section 409A ("Section 409A"). Specifically,...more

Expiration of 409A Correction Period Regarding the Timing Requirement to Execute a Release Agreement

by John J. Heber | Manatt, Phelps & Phillips, LLP on 11/30/2012

The payment of severance in the event of a termination of employment is often conditioned on the execution of a release agreement. This requirement may violate the documentary requirements of Code Section 409A ("409A") if the...more

Collecting and Remitting PA Sales Tax on Multistate Sales Transactions

by Sharon R. Paxton | McNees Wallace & Nurick LLC on 11/26/2012

A number of factors must be considered by sellers and purchasers when evaluating sales and use tax compliance for transactions involving multiple states. Among other things, a seller must consider the location of delivery to...more

PA Tax Law News -- December 2012

by James Fritz, Timothy J. Horstmann, Sharon R. Paxton, Randy Varner | McNees Wallace & Nurick LLC on 11/26/2012

In This Issue: PA Supreme Court Affirms Sales Tax Exemption for “CHEP” Pallets; Promoting Employment Across Pennsylvania Act; Fuel Tax Update; Delaware & New Jersey Abandoned & Unclaimed Property Developments; Filed a...more

The San Francisco Proposition E Gross Receipts Tax Ordinance: A Mixed Bag for Investment Fund Managers

by Gregory J. Hartker, Ronald J. Reigstad | K&L Gates LLP on 11/19/2012

On November 6, 2012, San Francisco residents approved Proposition E (the “Gross Receipts Tax Ordinance”) instituting a new gross receipts tax to replace the City’s 1.5% payroll tax. The new gross receipts tax is phased in...more

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Tax Law › Administrative Law › Commercial Law & Contracts