Tax Law, Finance & Banking, Election & Politics Law

Alabama Legislative Update – Week 13: Budgets Approved, Medicaid and Tax Bills Sent to Governor Bentley

by Denise Killebrew, Dennis Nabors | Baker, Donelson, Bearman, Caldwell &... on 5/15/2013

With the constitutional deadline of midnight on the 30th day closing in, Alabama lawmakers worked at a feverish pace to complete work on some of the most substantial and controversial legislation in the 2013 session....more

Tax Changes Loom in the President’s 2014 Budget Proposal

by Les Williams | Niles, Barton & Wilmer, LLP on 5/15/2013

The White House recently released its Fiscal Year 2014 budget proposal, and there are many suggested changes that will impact individuals, businesses, and estates. Several of these proposals—particularly on the estate and...more

IRS Targets Conservative Groups

by William McGinley | Patton Boggs LLP on 5/14/2013

The disclosure that the Internal Revenue Service (IRS) targeted conservative groups was disclosed last Friday afternoon in the form of an apology by an IRS official in response to a question during a panel discussion at a...more

Financial Services Legislative and Regulatory Update -- May 13‚ 2013

by Abby Matousek, Jason M. Rosenstock | Mintz Levin - Public Finance on 5/13/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - What had been a relatively quiet week, where until Friday it seemed...more

Under The Dome: Inside The Maine State House 5-10-13

by Avery T. Day, John D. Delahanty, Andrea Cianchette Maker | Pierce Atwood LLP on 5/10/2013

Under the Dome: Inside the Maine State House is a weekly update that provides a high-level overview of recent activity at the Maine State House. On May 7th, the full Senate voted to confirm Governor LePage’s nomination of Tim...more

TPC’s Analysis Of President Obama’s 2014 Budget

by Bruce Rawls | Burr & Forman on 5/9/2013

The Tax Policy Center (the “TPC“) has published its analysis of the tax proposals included in President Obama’s 2014 budget. The analysis finds that President Obama’s proposals would have the intended effect of...more

Under The Dome: Inside The Maine State House 5-3-13

by Avery T. Day, John D. Delahanty, Andrea Cianchette Maker | Pierce Atwood LLP on 5/8/2013

In This Issue: Legislature Enters Final Stretch; Appropriators Receive Bad News Regarding Revenue Forecast; Tax Reform Proposal Officially Rolled Out; Major Initiatives of the Governor Topic of Debate... ...more

White House Budget Proposes Numerous Tax Changes as Congressional Tax-Writing Committees Focus on Reform

by Armando Gomez, Paul McLaughlin, Cary Pugh | Skadden, Arps, Slate, Meagher & Flom LLP on 5/3/2013

On April 10, 2013, the White House released its proposed budget for fiscal year 2014. The budget contains significant tax proposals related to renewable energy, research and job creation, as well as numerous changes affecting...more

Investing In Georgia: Economic Development Newsletter - April 2013

by King & Spalding on 5/1/2013

Welcome to King & Spalding's economic development news bulletin, Investing in Georgia. In this edition, you will find: - A report from two key leaders of the Georgia General Assembly regarding the recently concluded...more

School Districts Cannot Spend Bond Money on Projects Not Disclosed to Voters - School Bonds with 55 Percent Vote Threshold Must...

by Kelly Salt | Best Best & Krieger LLP on 5/1/2013

The Fourth District Court of Appeal recently upheld a challenge to a school district’s spending voter-approved bond proceeds for field lighting at a high school stadium because the ballot proposition did not specifically list...more

Legal Alert: President's 2014 Budget Includes Employee Benefits Proposals

by Adam Cohen, Carol McClarnon, Alice Murtos, Joanna Myers, Vanessa Scott, W. Mark Smith, William Walderman, Carol Weiser | Sutherland Asbill & Brennan LLP on 5/1/2013

On April 10, 2013, the White House released its Fiscal Year 2014 Budget (the Budget), which includes a number of proposals related to employee benefit plans. Although it is unlikely that all of the proposals will ultimately...more

IRS Pressures Build: Budgetary Constraints, the Aging IRS Workforce and Changes in IRS Focus

by Thomas Cullinan, Joseph DePew, John Lanier, Mary Monahan, Daniel Schlueter | Sutherland Asbill & Brennan LLP on 4/25/2013

On April 10, 2013, President Obama released his proposed Fiscal Year 2014 Budget of the U.S. Government. The budget calls for an increase in funding for the Internal Revenue Service (“IRS”), which has faced budget cuts in...more

Wall Street Sales Tax Reintroduced on Capitol Hill: Likely a Significant Impact on Private Investment Funds

by David Sussman | Duane Morris LLP on 4/19/2013

On April 17, 2013, U.S. Rep. Keith Ellison (D-Minn.) reintroduced the Inclusive Prosperity Act of 2013 (H.R. 1579) (the "Bill"), a financial transaction tax that, according to its supporters, would provide the federal...more

President Obama’s FY 2014 Budget Proposal - Analysis Related To Administration Funding And Policy Priorities

by Patton Boggs LLP on 4/15/2013

INTRODUCTION - On April 10th, President Obama submitted his FY 2014 Budget Proposal to Congress. In the normal course of events, the President would have unveiled his spending plan in early February as required by law....more

Proposed 2014 Budget Encourages Private Investment in Infrastructure

by Frederic Ballard, Jr., Scott Cockerham, Charles Henck | Ballard Spahr LLP on 4/15/2013

This week, the Obama administration released its proposed budget for the 2014 fiscal year. Notably, the budget encourages private investment in infrastructure projects through various liberalizations of the tax laws relating...more

President Obama's 2014 Budget Proposes to Tax Carried Interest as Ordinary Income

by Christopher Cawley, Richard Schaul-Yoder | Foley Hoag LLP on 4/12/2013

Yesterday, President Obama issued his Administration’s Fiscal Year 2014 Budget, which includes a proposal to tax carried interests (also known as “performance allocations” or “incentive allocations”) in investment...more

Ohio Legislators Strip Radioactive Drilling Waste, Severance Tax Provisions From Budget

by Jason Yearout | BakerHostetler on 4/10/2013

Yesterday we discussed the grim prospects for the NORM and TENORM provisions in Ohio Governor John Kasich’s proposed budget. Both industry and environmentalists opposed the provisions, and state legislators recently expressed...more

Congress Returns from Spring Recess

by Mintz Levin on 4/9/2013

Congress returns to Washington today after a two-week district work period. As we enter the second quarter of the year, we are likely to see continued debate and some progress on: Budget & Appropriations; Presidential...more

Alabama Legislative Update – Week 8: Burning The Midnight Oil

by Denise Killebrew, Dennis Nabors | Baker, Donelson, Bearman, Caldwell &... on 4/9/2013

When lawmakers returned on April 2 for the second half of the 2013 Regular Session, the 16th legislative day resulted in one of the longest of the year, with both houses adjourning close to midnight and then putting in long...more

President Obama Proposes Plan To Encourage Private Investment in Infrastructure

by Kurt Anderson, Steve Park, Brian Walsh | Ballard Spahr LLP on 4/5/2013

President Obama recently announced the Rebuild America Partnership plan (RAPP), a bipartisan effort focused on rebuilding the nation’s aging infrastructure and driving economic growth. Through RAPP, the President proposes to...more

Tax-Exempt Financing Provisions on the Table as Congress Considers Tax Reform

by Kathleen M. Nilles, Kenneth W. Parsons | Holland & Knight LLP on 3/26/2013

Recent legislative discussions concerning tax reform have included the potential elimination of several federal provisions long considered sacred to state and local governments and untouchable by federal policymakers. Those...more

Supplemental Budget Released

by Thomas J. Hanson | Winthrop & Weinstine, P.A. on 3/18/2013

Governor Mark Dayton formally released his supplemental budget on Thursday, March 14. The Governor’s revised budget is always issued a few weeks after the February Economic Forecast and usually includes only modest changes...more

Government Relations Alert: Adjusting For A Reduced Shortfall, Governor Dayton's Revised Budget Excludes Sales Tax Overhaul

by Leonard, Street and Deinard on 3/15/2013

Governor Dayton yesterday unveiled his revised budget for fiscal years 2014-2015. With Minnesota Management & Budget (MMB) recently projecting the FY 2014-15 shortfall at $627 million, down from last November's estimate of...more

Governor Dayton Drops Business to Business Sales Tax Proposal

by John Knapp | Winthrop & Weinstine, P.A. on 3/11/2013

With Governor Dayton scheduled to release his supplemental budget proposal next week, he announced today at a meeting of the Twin West Chamber of Commerce that he will drop the proposed expansion of the state sales tax to...more

If You're Not At the Table, You're On the Menu: Ways and Means Working Groups Solicit Input on Tax Reform

by Mary Burke Baker, Michael W. Evans, Andrés Gil, Karishma Shah Page, Ryan J. Severson | K&L Gates LLP on 3/8/2013

Comprehensive tax reform is the top priority of the congressional tax-writing committees this year. In continuation of several years of work on this issue, the House Ways and Means Committee recently unveiled the next stage...more

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Tax Law › Finance & Banking › Election & Politics Law