Lane Powell PC - Taxation Law

Originally published in The Practical Tax Lawyer in Spring 2012 Generally, a state may tax the worldwide income of a person who is domiciled there. Although defined by statute or administrative rule in some states, domicile…more

The Washington Supreme Court recently held that businesses are statutorily barred from recouping Business and Occupation (“B&O”) tax as an added charge to the selling price, regardless of disclosure. In answering a question…more

The Washington State Department of Revenue (“Department”) has recently announced that it will be holding a hearing on April 19 in Olympia on two proposed permanent rules implementing single factor receipts apportionment…more

Washington’s unique tax structure puts it at both the top and bottom of various studies that attempt to rank states’ business climates. Some reports, including one prepared by Forbes magazine, rank Washington very high, in large…more

Reposted With Permission From Novogradac Journal of Tax Credits. Part One of this article explained that when a new markets tax credit (NMTC) investor exercises a put option (the exit transaction) in a leveraged transaction…more

Washington state is currently conducting its first-ever tax amnesty program. Eligible taxpayers who apply for amnesty by April 18, 2011, and pay eligible past due taxes by April 30, 2011, will have interest and penalties…more

U.S. taxpayers with offshore accounts should take note of the new voluntary disclosure program announced by the Internal Revenue Service. The 2011 Offshore Voluntary Disclosure Initiative (“2011 Initiative”) was announced…more

Dear Ms. Neubauer: Lane Powell PC represents developers of projects that involve the recovery of combustible gas from the biodegradation of municipal solid waste (“Biogas”) for the purpose of producing electricity. In the…more

The 2010 Washington state legislative term was extended by a special session as the House and the Senate battled over whether to raise sales taxes as part of balancing the budget. While the Legislature did not raise sales…more

Canadians moving from Canada to permanently settle in the United States should take note of recent Internal Revenue Service (“IRS”) guidance providing relief from U.S. federal income taxation. Individuals emigrating from Canada…more

Small businesses are weathering one of the most difficult economic periods in decades and are adapting by making sound investment and business decisions. The year 2010 will likely bring changes in tax laws to boost the economy…more

Many issues are raised by the grant program and the guidance recently issued by Treasury, including the legal effect of the guidance, the resolution of disputes arising under the grant program, unanswered procedural questions…more

Individuals and businesses filing U.S. income tax returns should take note of the Worker, Homeownership and Business Assistance Act of 2009 (the "Act"), signed into law on November 6, 2009. Under the Act, most taxpayers may…more

In the second part of this series, we provided an overview of the sales and use tax exemptions for manufacturing machinery and equipment used directly in a manufacturing or research and development operation under RCW…more

This article identifies frequently encountered misleading or deceptive accounting practices, discusses the legal responsibilities of attorneys representing a company to detect and deal with accounting irregularities, and…more