Tax General Business Elections & Politics

Read need-to-know updates, commentary, and analysis on Tax issues written by leading professionals.
News & Analysis as of

MoFo New York Tax Insights - Volume 6, Issue 3 - March 2015

In This Issue: - Key Proposals in Governor Cuomo’s 2015-16 Executive Budget - ALJ Holds That Online Reservation Receipts Are Not Sourced to New York - ALJ Rules Taxpayer Is Not Required to Use NOLs in...more

NC Legislative Update for March 2015 #3

Last Week - Session came to a sudden halt Monday evening in the Senate after a three-judge panel ruled with Gov. McCrory in a separation of powers lawsuit against the state legislature. The Governor filed the suit...more

UK Budget 2015 – Key Tax Measures

The Chancellor of the Exchequer’s final Budget of the current Parliament, given on 18 March 2015, was held in the shadow of the UK’s general election on 7 May 2015. With the backdrop of the UK’s GDP growth increasing,...more

UK Budget Bulletin - March 2015

The Chancellor's Budget Statement this afternoon contained a number of matters of real and immediate importance. It did however also contain details regarding measures which are either deferred or still under consideration...more

2015 Arizona Prime Contracting Transaction Privilege Tax Reform: Will This Third Annual Legislative Enactment (SB 1446) Bridge the...

For three years in a row, the Arizona legislature has enacted significant changes to the Arizona state and local tax on construction activity, known as the “prime contracting” transaction privilege tax (TPT). If anything,...more

Gov. Wolf Proposes Reordering of PA Tax System for FY2015-16

In office only two months, Governor Wolf has wasted no time in proposing a budget which would boost education funding, provide local real estate tax relief, close a $2 billion operating deficit and address Pennsylvania's $50...more

Court Strikes Down Surcharge on Utility Users Imposed Under a Franchise Agreement

Surcharge Collected for General Revenue Purposes Under a Franchise Agreement must be Approved by Voters - A surcharge on electric utility bills collected by a power company pursuant to a franchise agreement and remitted...more

Inside the New York Budget Bill: Guidance Released Regarding Transitional Compliance and Qualified New York Manufacturers

On March 31, 2014, Governor Andrew Cuomo signed into law a budget bill containing major corporate tax reform. That new law resulted in significant changes for many corporate taxpayers, including a complete repeal of Article...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

Tax Policy Update

NUMBER OF THE WEEK: $160,000. The value of one gift bag at the Oscars on Sunday night. According to the Internal Revenue Service, contents of the gift bags cannot be treated as gifts for federal income tax purposes because...more

Congressional leaders set a deadline for tax reform: key elements in the top proposals

Just prior to leaving Washington for official travel at the end of last week, House Ways and Means Committee Chairman Paul Ryan (R-WI) told reporters that he is in constant touch with Treasury Secretary Jack Lew with respect...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

The President’s Groundhog’s Day Budget Casts a Shadow on Some but Offers Sunshine for Others

On February 2nd, President Obama released his Fiscal Year (FY) 2016 budget request to Congress. Along with the budget, the Department of the Treasury (Treasury) released a volume called “General Explanations of the...more

Delaware Enacts Unclaimed Property Legislation That Addresses Some (But Not All) Holder Concerns

The Delaware Legislature appears to have heard some of the complaints of the unclaimed property community. Delaware Governor Jack Markell signed Senate Bill 11, which is based on the recommendations of the Delaware Task Force...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. Governor Delivers His State of the State Address - On February 3rd at 7:00 p.m.,...more

Trade Policy Update

Ambassador Michael Froman, the United States Trade Representative, was the witness at hearings last week by the Senate Finance Committee and House Ways and Means Committee on “President Obama’s 2015 Trade Policy Agenda.” In...more

President’s FY 2016 Budget Proposal - Analysis Of Administration Funding And Policy Priorities

On February 2, 2015, President Obama submitted his FY 2016 Budget Proposal to Congress, echoing many elements outlined in his State of the Union address. The Budget proposal exceeds restrictive spending caps (“sequestration”)...more

Potential roadmap to US tax reform: key points in the Hatch Report

As the work of the new Congress gets under way , there is general agreement that business tax reform is one of a handful of issues that may be achievable in the closing two years of the Obama Administration, and, in fact,...more

Illinois Industrial Insured Self-Procurement Tax Guidance Announced

As we have previously covered in detail, at the end of its 2014 regular legislative session, the Illinois General Assembly enacted a multimillion dollar tax on Illinois companies using captive insurance arrangements. The law...more

Tax Extenders for the 2014 Tax Year: A Holiday Tax Gift from D.C.

Just days before the 2014 tax season draws to a close, new legislation was enacted in D.C. to provide a one-year retroactive extension for over 50 tax benefits and incentives which had expired in 2014. The one-year extension...more

Congress Passes Tax Increase Prevention Act of 2014 and Retroactively Extends Tax Relief Provisions

Welcome Tax Relief Provided to Individuals and Businesses Extended through Calendar Year 2014 - The Tax Increase Prevention Act of 2014 retroactively extends, through Dec. 31, various individual and business tax relief...more

Summary of the Tax Extenders in the Tax Increase Prevention Act

On Friday, December 19th, President Obama signed the Tax Increase Prevention Act (“TIPA”), H.R. 5771, into law. TIPA is commonly referred to as the “tax extenders” bill as it extends certain expiring provisions of the...more

Congress Extends QZABs, New Markets Tax Credits; Continuing Effect of Sequestration

Qualified Zone Academy Bonds - The Act authorizes the Secretary of the Treasury to allocate an additional $400 million in QZABs for 2014. Prior to the Act, no additional allocations of QZABs were to be available to the...more

Congress passes tax extenders – through the end of 2014: potential impact on tax reform

In the final act of the 113th Congress, the Senate passed and sent to President Barack Obama for his signature the Tax Increase Prevention Act of 2014, extending through the end of 2014 numerous familiar deduction and credit...more

174 Results
|
View per page
Page: of 7

Follow Tax Updates on: