Tax Art, Entertainment & Sports

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Tariffpalooza 2014

Summer 2014. The living is easy; the Copyright Board is certifying tariffs at a furious pace. As we noted back in May 2014 (Towards Certainty on Webcasting – Re:Sound Tariff 8 Certified), the Board certified Re:Sound...more

Northwestern University Football Players Are Not Employees

Recently, the National Labor Relations Board ruled that grant-in-aid scholarship football players at Northwestern University are “employees” under the National Labor Relations Act. This has raised the question whether such...more

Film Tax Incentives in Latin America

Distribution of audiovisual content is blooming at a very fast pace, and while the consumer is still demanding for more new content, producers are struggling with this new competitive era. While appetite for content is at its...more

The Gambler Breaks Even: Tax Court Orders Indiana Department Of Revenue To Answer Discovery Requests But Denies Taxpayer’s Second...

The Tax Court does not often address discovery issues in published decisions and orders. In this case, Popovich v. Indiana Department of State Revenue, Cause No. 49T10-1010-TA-53 (April 24, 2014 and June 4, 2014), the Court...more

Sale of Clippers Will Cost Sterlings Significant Income Taxes

People who do not think that Donald Sterling is being impacted sufficiently by the NBA fine and being forced to sell the Los Angeles Clippers are not taking into account the significant federal and California income taxes...more

Tennessee – 2014 Legislative Highlights

Effective January 1, 2015, the method of issuing tax assessments and the informal conference process available to taxpayers will be revamped. 2014 Tenn. Pub. Acts 854. Touted as being more taxpayer-friendly, the two most...more

Interactive Gaming Incentives in the United States

There’s been a lot of press about places that are unfriendly to gamers or game developers. Authorities in various jurisdictions have attempted to address issues of violence, sex, and gambling, either resident in or allegedly...more

Online Poker Players Beware

I thought we had reached the end of our FBAR streak, but not yet. In a Federal District Court case opinion released last week, the Northern District of California ruled that a U.S. online gambler was obligated to report his...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update: May 2014

This is a brief update on recent Pennsylvania tax developments. For more information on any of these developments, contact one of the authors or the Reed Smith State Tax attorney with whom you usually work....more

Promotional Expenses Deductible for Gaming Tax

A nearly unanimous Pennsylvania Supreme Court reversed the Commonwealth Court and held that certain promotional expenses were deductible in calculating gross terminal revenue for purposes of the 34 percent Pennsylvania tax on...more

Will the Star Quarterback Be Sacked by the Taxman?

On March 26, 2014, a regional director of the National Labor Relations Board (NLRB) decided scholarship football players at Northwestern University are employees because they “perform services for the benefit of the employer...more

Gimme A U-N-I-O-N!

Willa Bepayed is a standout attacker and a Senior on State Tech’s volleyball team. Willa read about Kan Doit, the Southeastern quarterback who’s leading the unionization drive before the National Labor Relations Board (NLRB)....more

UK / China co-production treaty signed

Yesterday, UK Culture Minister Ed Vaizey and Chinese Vice Minister Tong Gang of the State Administration of Radio, Film & Television, signed the long-awaited UK / China co-production treaty....more

Georgia’s Limited Tax Credits for Interactive Entertainment Producers

On April 15,[1] Georgia passed a law[2] amending its tax code to provide a limited tax credit to qualified interactive entertainment companies. The law provides incentives for mid-size game developers who demonstrate...more

Sport, Media, and Entertainment Intelligence - April 2014

Spanish Supreme Court orders Le Monde to pay damages to Real Madrid and FC Barcelona - The Spanish Supreme Court has ordered French daily newspaper Le Monde to pay damages of €300,000 to Real Madrid and €15,000 to FC...more

Detroit Casinos’ February Revenues Decrease From Same Month Last Year

The Michigan Gaming Control Board (“MGCB”) released the revenue and wagering tax data for February 2014 for the three Detroit, Michigan commercial casinos. The three Detroit commercial casinos posted a collective 0.6%...more

Video games tax credit finally receives state aid approval

The European Commission has finally given the green light to the proposed UK video games tax credit which will now come into effect from 1 April 2014....more

GB: Disappointing Budget, Levy and point of consumption. Does bad luck only run in threes?

As if the tax whammy on bookmakers wasn’t enough, the voluntary code of conduct compelling bookmakers to take tougher precautions to ensure limits are placed on the amount of money and time spent on machines is set to become...more

Enterprise Investment Scheme availability for film or television co-productions

HMRC has published a note to clarify the interaction between film or television co-productions and the Enterprise Investment Scheme (EIS). In the note, HMRC states that companies participating in a film or television...more

UK Budget 2014 – more good news for the creative industries

In yesterday’s Budget, George Osborne confirmed that the European Commission has approved the proposed extension of the UK film tax credit announced in his 2013 Autumn Statement. The changes are due to take effect from April...more

Interim IRS Guidance Confirms Per Capita Distributions from Tribal Trust Resources Are Nontaxable

Notice 2014-17 Is a Positive Development Because It Should Ultimately Result in Consistent IRS Treatment of Tribal Trust Resources, But Several Issues Remain Unresolved. The Notice provides that the IRS and Treasury...more

UK: Budget 2014 – changes announced to gambling duties; Levy consultation announced

The Chancellor of the Exchequer gave his Budget speech today. Gaming duty revalorisation – The government will increase gaming duty bands in line with RPI for accounting periods starting on or after 1 April 2014....more

Recent Developments and Trends for Exempt Organizations

2013 was something of a lost year for the Exempt Organizations (EO) Division of the IRS. In the spring, the Division was embroiled in a controversy involving the targeting of conservative advocacy groups that led to the...more

2014 Legislative Session: Bills To Watch

On Tuesday, March 4th, Florida lawmakers gathered in Tallahassee for the start of the 2014 legislative session. Lawmakers now have 60 days to pass their bills into law. For those of us in South Florida, we want to follow this...more

As if Employers Needed Another Reminder, Here Are 8.4 Million More Reasons to Get the Tip Credit Right

A couple of weeks ago, a Philadelphia based sports bar chain entered into a consent order with the U.S. Department of Labor (DOL) and filed a request with the E.D. Pennsylvania for approval of a separate settlement with...more

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