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Arizona ALJ: Remote Provider of Subscription Research Service is the Lessor of Tangible Personal Property

In a curious decision out of Arizona, an Administrative Law Judge (ALJ) found an out-of-state provider of online research services was properly assessed transaction privilege tax (TPT, Arizona’s substitute for a sales tax)...more

FinCEN Announces First Civil Enforcement Action Against Virtual Currency Exchanger

Continuing its aggressive anti-money laundering enforcement agenda, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) announced yesterday that it had commenced the first-ever civil enforcement action...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

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

MoFo New York Tax Insights - Volume 5, Issue 9 - September 2014

In This Issue: - ALJ Upholds Denial of Sales Tax Refund Because Vendor Failed to First Make Refunds to Customers - HMO Held Exempt from New York City General Corporation Tax - State Tax Department Issues...more

Division of Tax Appeals Rules Patent License Fees Not Subject to Sales Tax in New York

A New York State Division of Tax Appeals administrative law judge (ALJ) recently ruled in favor of a medical device and technology company on the question of whether patent license fees that the company charged to its...more

FDA to Cease Active Regulation of MDDS and Other Health IT Devices

The draft guidance also enables some health IT manufacturers to avoid the device tax. The Food and Drug Administration (FDA) took an unusual step on June 20 by issuing new draft guidance that states its intent to not...more

Did the IRS Just Help or Hurt the Bitcoin Economy?  [Video]

Apr. 1, 2014 -- Houman Shadab, Associate Professor at New York Law School, talks with Lee Pacchia about recent developments in the bitcoin economy....more

MoFo New York Tax Insights - Volume 4, Issue 4 - April 2013

In This Issue: New York Court of Appeals Upholds “Amazon” Statute; Guilty Plea and $5.5 Million Settlement Resolve New York’s False Claims Case; City ALJ Dismisses Case Seeking Interest on $30 Million Refund;...more

Excise Tax Kicks In Jan. 1 On Certain Medical Devices

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

IRS Releases Final Rule on Medical Device Tax

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

New Rules Will Be “Taxing” On Medical Device Manufacturers

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

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

Coming in 2013, the Medical Device Excise Tax

Now that the Supreme Court has upheld, at least in part, the Affordable Care Act, one of the additional taxes set to take effect in 2013 is the so-called Medical Device Excise Tax. Beginning in 2013, Section[1] 4191 imposes a...more

MA Senate Bill Would Revise Incentives for Renewable Energy Development

On April 5, 2012, the Massachusetts Senate unanimously passed a bill that aims to curb rising energy costs and expand renewable energy development. Senate Bill (SB) 2214, a bill “Relative to Competitively Priced Electricity...more

2011 in Review: ERISA Individual Prohibited Transaction Exemptions

In 2011, the Department of Labor (DOL) continued a fairly active program of issuing individual exemptions from the prohibited transaction rules of ERISA. These rules generally prohibit, among other things: -Sale and...more

Financial Services Quarterly Report - Fourth Quarter 2011

In this issue: - Form PF: Private Fund Systemic Risk Reporting in the United States p. 1 - Harmony or Dissonance: A Comparison of Form PF and the Template Reporting Form Proposed in ESMA’s Level II Advice p. 4 -...more

Why Are the Feds Willing to Pay the Cost of Fraud?

Kathleen Sharp tells a good, if scary, story. In “Blood Feud: The Man Who Blew the Whistle on One of the Deadliest Prescription Drugs Ever,” she describes how two Big Pharma companies conspired to develop and market an...more

Sutherland Salt Shaker Vol. 2 No. 3- March 21, 2011

New Jersey Tax Court Finds “User Error” in Treatment of Extraterritorial Income; Discrimination Train Has Left the Station: U.S. Supreme Court Remands Alabama Railroad Case; Ouch! Taxpayer Seeks to Pierce Its Own Veil; Salt...more

The Life Sciences Report - Spring 2011

In This Issue: New Pressures on the Pharma and Medical Device Industry Highlight the Importance of Compliance Programs...Page 1-2; Marketing Do’s and Don’ts: What Senior Management of Commercial-Stage Life Sciences...more

The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 and its effect on the Energy Sector

On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the "Act"). The Act contains a myriad of provisions, including extending the Bush-era...more

2010 in Review: ERISA Individual Prohibited Transaction Exemptions

In 2010, the Department of Labor (DOL) continued an active program of issuing individual exemptions from the prohibited transaction rules of ERISA. These rules generally prohibit, among other things: Sale and lending...more

Energy and Clean Technology Alert - Congress Recharges Tax Incentives for the Clean Energy Sector

As part of the $858 billion Middle Class Tax Cut Act of 2010 extending the Bush-era tax rates and a variety of expiring business tax credits, Congress extended several key tax incentives which benefit the clean...more

IRS Guidance On New Excise Tax On Branded Pharmaceutical Companies: Filing Due January 21, 2011

In a prior article dated May 25, 2010, we advised of a new excise tax on branded pharmaceutical manufacturers. We indicated that the Patient Protection and Affordable Care Act ("PPACA") required the Internal Revenue Service...more

House Introduces Bill Addressing State Taxation of Digital Products

On June 30, Rep. Rick Boucher (D-Va.) and Rep. Lamar Smith (R Tex.) introduced the Digital Goods and Services Tax Fairness Act ("Digital Fairness Act") in the U.S. House of Representatives. The bill, in large part, is...more

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