Tax Art, Entertainment & Sports

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Chicago Mayor’s Tax-Heavy Budget Passes: Lease and Amusement Tax Implications

Last week the Chicago City Council approved Mayor Rahm Emanuel’s 2016 revenue ordinance as part of his tax-laden budget proposal. The revenue ordinance included noteworthy changes to the personal property lease transaction...more

The Halloween Edition: Frights of Publicity and Celebrity Ghosts

It is an undisputed fact that the 90’s were the best. The deadcade gave us some of the best television (Buffy the Vampire Slayer), movies (Clueless), fashion (flannel), and music (Backstreet Boys). Everything created since...more

Contributions of Art: Elements of a “Boring” Charitable Contribution Deduction

This article highlights some of the more critical income tax issues that taxpayers and their advisors must address when claiming the charitable contribution deduction for the gift of art to art museums. This article does not...more

NHL Team Denied Deduction for Road Meals?

We noticed these recent items regarding the U.S. IRS denial of a 100% deduction by the NHL Boston Bruins hockey club in respect of the team’s provision of meals to employees during road trips. In Canada, section 67.1 of...more

Tax Law Blog: Netting Tax Savings Found to be a Goal of Many NHL Free Agents

A recent study revealed that a majority of National Hockey League (NHL) players changing teams choose teams in locations with lower taxes. The study, “Major Penalty for High Taxes” was jointly conducted by the Canadian...more

Tax Policy Update

As in the 9 percent "amusement tax" that the city of Chicago recently extended to online streaming services like Netflix and Amazon Prime, triggering a series of lawsuits alleging that the newly expanded tax was illegally...more

FinCEN Announces Caesars Penalty After Multiyear Investigation

This week the Financial Crimes Enforcement Network (FinCEN) announced a Consent Agreement that imposed an $8 million civil penalty against Desert Palace, Inc. d/b/a Caesars Palace. Caesars first disclosed the investigation in...more

Updates to Nevada’s Live Entertainment Tax – Part 3

This is the final post in a series of blog posts about changes to Nevada’s Live Entertainment Tax. “Service Charges” Perhaps the biggest area of remaining debate is whether or not associated fees or “service...more

Updates to Nevada’s Live Entertainment Tax – Part 2

This is the second post in a series of blog posts about changes to Nevada’s Live Entertainment Tax. Exceptions and Exemptions - The new LET includes some new exceptions as well. The tax is no longer imposed on...more

High Net Worth Family Tax Report, Vol. 10, No. 2

Borrowing Against Art Collections - Your art collection may not be as illiquid as you think. It is possible to raise cash by borrowing against works of art. Although some banks do not offer art-secured loans because of...more

Gaming Legal News: Volume 8, Number 15: Updates To Nevada's Live Entertainment Tax

To raise revenue and address its struggling K–12 education system, Nevada legislators made several major changes to the state’s tax structure in 2015. These include introduction of the Commerce Tax, which is a gross revenue...more

Tax Blog: NFL Decides to Give up Tax-Exempt Status

Football season is just around the corner. In case you missed it, the National Football League (NFL) announced earlier this year it decided to voluntarily end its tax-exempt status. Why did the NFL do this and what does it...more

Updates to Nevada’s Gaming Laws – 2015 Legislative Session (Cont.#2)

Procedural and Administrative Changes and Clarifications - AB40 - A key administrative change effected by AB40 is to change the name of the “State Gaming Control Board” to the “Nevada Gaming Control Board.”...more

Advertising Law - July 2015 #3

Harlem Globetrotters Get an Assist From CARU - In a rare loss, the Harlem Globetrotters agreed, at the direction of the Children's Advertising Review Unit (CARU), that their age-screening practices for the company's...more

Living at the Casino Does Not Make You a Professional Gambler

Professional gamblers can offset their losses from gambling against their gambling winnings. They can also deduct their other gambling expenses. Non-professionals (those not engaged in the trade or business of gambling) are...more

Spotlight on Louisiana: 2015 Legislative Session Increases Tax Burdens to Balance State Budget

Even though Louisiana's 2015 legislative session has concluded, the dust may be far from settled as to how increases in tax burdens meant to balance the State's budget will impact taxpayers. At least one industry trade...more

"City of Chicago Expands Tax Reach to Internet Services"

On June 9, 2015, the city of Chicago released two rulings that significantly expand the city’s 9 percent gross receipt tax to charges for cloud computing and other services delivered over the Internet. The first ruling (City...more

Gaming Legal News: Volume 8, Number 13

Extending the Reach of Nevada’s Gaming Regulation: SB38, SB40 and SB409 - SB38 - Senate Bill 38 extends the reach of the Board to a new category of licensees, to nightclubs and day clubs that are located on the...more

Influential Business Group Requests Legislative Rejection of Proposed Rental Tax Regulation; Legislative Council Hearing Set for...

As previously reported, the Alabama Department of Revenue proposed a regulation imposing a rental tax on digital transmissions, broadly defined as “on demand movies, television programs, streaming video, streaming audio, and...more

Louisiana Legislative Update

The 2015 Louisiana legislative session is over, so let’s check on the four-pack of bills and the proposed tax increase. HB132 would have required individuals consuming alcoholic beverages at commercial establishments to have...more

Nevada Senate Bill 266 Amends the Tax Imposed on Live Entertainment Pursuant to NRS Chapter 368A

Recently enrolled Nevada Senate Bill 266 makes sweeping changes to the tax on live entertainment in Nevada pursuant to NRS 368A. Under the newly enacted provisions, an excise tax is imposed on admission charges to facilities...more

Pay to Play? How States Handle Signing Bonuses for Athletes

Non-CPA sports fans (and athletes themselves) increasingly appreciate the tax aspects of luring the best free agent athletes to their teams. One recent example is the whopper of a contract that agent Scott Boras cooked...more

Ohio Supreme Court Rules City of Cleveland’s Taxation of Nonresident NFL Players’ Compensation Out-Of-Proportion to Games Played...

On April 30, 2015, out-of-state professional football players earned victories against the City of Cleveland, Ohio. In a pair of cases decided by the Ohio Supreme Court, the court first struck the City’s method of allocating...more

Ontario “Grandfathers” Tax Credit Rate Changes

When Ontario announced its 2015 budget, one particular proposed change was met with… well, let’s call it “concern” from the Ontario film and television production community: the reduction of the OPSTC and OCASE tax credits...more

Employee Misclassification in the Entertainment Industry

Employee misclassification is one of the leading labor abuses in the country. In fact, in recent years, both the Internal Revenue Service and the U.S. Department of Labor have launched a misclassification initiative to combat...more

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