In a controversial move, the Texas Comptroller is poised to amend Rule 3.330, Data Processing Services, effectively rewriting the rules to favor the contentious stance it has adopted in recent audits and litigation. This...more
Last Tuesday, New York City Council held a hearing for the nomination of Randy Mastro to Corporation Counsel. Mayor Adams nominated Mastro to the position, and he must be confirmed by the Council in order to serve as the...more
2025 Comptroller Race- Comptroller Brad Lander announced last week that he will be challenging Eric Adams in the 2025 Democratic mayoral primary, meaning that he will not be running for re-election as Comptroller. Manhattan...more
There has been a rash of class action lawsuits against utility companies, utility contractors, and traffic control contractors. These lawsuits have alleged that on public works projects in New York City, workers performing...more
Mayor Eric Adams has nominated Randy Mastro as Corporation Counsel, the Administration’s top lawyer who presides over the Law Department. Adams’ previous Corporation Counsel, Sylvia Hinds-Radix, departed in May. Mastro is a...more
The Texas Supreme Court recently denied a petition for review of decision of the Texas Fourteenth Court of Appeals’ decision in West Exchange, Inc. v. Hegar. This case illustrates the importance of complying with all...more
On July 17, Acting Comptroller of the Currency Michael Hsu delivered prepared remarks before the Exchequer Club entitled “Size, Complexity, and Polarization in Banking.”...more
Maryland Comptroller Brooke Lierman issued a letter Feb. 28 to address the challenges and concerns of tax practitioners regarding the policy and procedural changes to pass-through entity (PTE) filings and payments. Most...more
IRC Approves New Congressional Maps- New York’s Independent Redistricting Commission (IRC) voted to approve new congressional lines. Small changes have been made to a few upstate districts, but the congressional districts...more
The scope of national bank preemption is currently before the U.S. Supreme Court in Cantero v. Bank of America, N.A. A New York statute requires the payment of interest on mortgage escrow accounts and the question before the...more
Tax Court Modifies Rushmore Method for Hotel Valuation. The Maryland Tax Court recently modified the traditional Rushmore income approach used to determine the fair market value (FMV) of the real estate component of a hotel....more
On January 2, New York Governor Kathy Hochul announced a proposal to establish regulations for the “Buy Now Pay Later” (BNPL) loan industry. Gov. Hochul announced that she will propose legislation to require BNPL providers...more
On December 20, 2023, the UK Supreme Court ("Court") dismissed Dr. Stephen Thaler's appeal, unanimously affirming the decision of the Comptroller-General of Patents, Designs and Trademarks ("Comptroller") that a machine which...more
The Maryland Comptroller appears to have denied all refund claims for the 2022 digital advertising gross revenues (DAGR) tax! The denial notices were seemingly dated on or around October 11, 2023, and were sent via certified...more
On August 29, at a Board Meeting for the Federal Deposit Insurance Corporation (FDIC), Comptroller of the Currency Michael J. Hsu issued a statement supporting the insured depository institution (IDI) Resolution Plan Rule,...more
On July 18, Office of the Comptroller of the Currency (OCC) Senior Deputy Comptroller for Large Bank Supervision Greg Coleman testified on OCC supervision of climate-related financial risks before the U.S. House of...more
On 07 June 2023, K2 Integrity hosted a webinar on the state of cryptocurrency and digital assets in a rapidly evolving regulatory landscape. A discussion was held with Bryan Stirewalt, senior managing director at K2...more
This article provides an overview of federal procurement laws and how the Federal Acquisition Regulations (FAR) implement some of those commitments in government contracts. The FAR, found under 48 C.F.R. Part 25, comprises...more
On May 23, acting Comptroller of the Currency Michael J. Hsu discussed the agency’s commitment to promote a fair and inclusive financial system. During remarks presented at the Bank On National Conference, Hsu observed that...more
FDIC Announces Special Assessments to Recover Losses from Recent Bank Failures The FDIC has issued a proposed rule that would impose special assessments to recover the loss to the Deposit Insurance Fund (Fund) arising from...more
Howdy folks, and welcome back to another edition of the Texas Tax Roundup, where we gab about all things Texas tax and perhaps even some things Texas tax adjacent. As ole T.S. once put it, “April is the cruelest...more
On March 6, acting Comptroller of the Currency Michael J. Hsu commented that the collapse of a major cryptocurrency exchange has underscored a need for consolidated supervision of global cryptocurrency firms. Speaking before...more
On February 16, the OCC released an updated version of the “Change in Bank Control” booklet of the Comptroller’s Licensing Manual. According to OCC Bulletin 2023-7, the revised licensing booklet—which outlines OCC policies...more
On February 7, the OCC released an updated version of the “Branch Closings” booklet of the Comptroller’s Licensing Manual. According to OCC Bulletin 2023-6, the revised licensing booklet, which outlines policies and...more
The Texas Comptroller of Public Accounts (the Comptroller) published proposed amendments to Texas’ franchise tax apportionment rule in the January 20 issue of the Texas Register, discarding the now-repudiated...more