News & Analysis as of

Corporate Taxes Legislative Agendas

McDermott Will & Emery

Governor Murphy Saddles Taxpayers With the Nation’s Highest Corporate Tax Rate

New Jersey Governor Phil Murphy’s proposed flip-flop, which reneges on his promise to allow the state’s 2.5% corporate business tax surtax to expire, has now passed both the New Jersey State Assembly and Senate and been...more

Cozen O'Connor

Cozen Currents: To the Victors Goes the Process

Cozen O'Connor on

The Cozen Lens - •If either party sweeps control of the federal government in November, pressure will be high to reform the filibuster. •The embrace of populism among Democrats and Republicans has made antitrust...more

Brownstein Hyatt Farber Schreck

The White House Releases FY 2025 Budget Tax Priorities

Earlier today, the White House released its fiscal year (FY) 2025 budget request to Congress. Overall, it proposes $7.3 trillion in total spending, including a proposed $895 billion for defense and approximately $621 billion...more

McDermott Will & Emery

New Jersey Governor Flip-Flops on Corporate Business Tax Surtax Expiration

McDermott Will & Emery on

After months of insisting that he would not allow New Jersey’s 2.5% corporate business tax surtax to be extended – and previously having allowed it to lapse for tax years beginning on January 1, 2024 – New Jersey Governor...more

J.S. Held

The Diverted Profits Tax & Royalty Withholding Tax: Impacts on Intellectual Property Licenses and Transactions

J.S. Held on

The Diverted Profits Tax (DPT) has been a significant area of focus for taxpayers and tax authorities in the UK and Australia. The tax targets specific situations in which taxable profits are alleged to have been “diverted”...more

Brownstein Hyatt Farber Schreck

A Look Ahead into Tax Policy in 2024

As Congress heads into 2024 and President Biden starts the last year of his term, a host of tax issues remain unaddressed, including a much-anticipated expiring tax provisions package, pending regulatory guidance, the outcome...more

McDermott Will & Emery

New From January 2024 | Participation Exemption for European Corporations on Disposal of Shareholdings

McDermott Will & Emery on

The Italian government recently approved a draft 2024 budget law which provides for the extension of the domestic participation exemption regime on disposal of shareholdings (PEX) to those non-resident corporations that: (i)...more

Brownstein Hyatt Farber Schreck

White House Releases FY 2024 Budget Request

Earlier today, the White House released its fiscal year (FY) 2024 budget request to Congress. Overall, it proposes $6.9 trillion in total spending, including a proposed $880 billion for defense and approximately $992 billion...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Dec. 6, 2022

Legislative Lowdown - Last-Minute Attempt to Revive Permitting Legislation. According to sources familiar with the matter, several moderate lawmakers from both parties are pushing to include energy-permitting reform...more

Stoel Rives - Mineral Law

Tax Actions by the Alaska Legislature in 2022

In my most recent column for State Tax Notes, I look at several bills that did and didn’t pass in the latest session of the Alaska State Legislature, which adjourned in May, and at what may be on the horizon....more

Brownstein Hyatt Farber Schreck

Taxation & Representation, Sept. 27, 2022

LEGISLATIVE LOWDOWN - Congress Advances Towards CR as Deadline Approaches. Yesterday, Senate Democrats proposed legislation to fund the federal government through Dec. 16 with the use of a continuing resolution (CR). The...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, September 20, 2022

Democrats’ Latest Push for an Expanded CTC. With the year-long effort to legislate a comprehensive energy, healthcare and tax bill finally completed, many Democratic lawmakers and members of the administration have fully...more

McDermott Will & Emery

The Inflation Reduction Act: Overview of New Corporate Minimum Tax

McDermott Will & Emery on

On August 7, 2022, the US Senate passed the Inflation Reduction Act of 2022 (the Act), a budget reconciliation bill recently introduced by Senate Majority Leader Chuck Schumer (D-NY) and Senator Joe Manchin (D-WV). The bill...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, August 2, 2022

In an unexpected statement last Wednesday, Sen. Joe Manchin (D-WV) and Senate Majority Leader Chuck Schumer (D-NY) jointly announced that they had reached a preliminary agreement on a roughly $750 billion budget...more

Mayer Brown

Manchin’s BBB Redux-tion Act – The Inflation Reduction Act of 2022

Mayer Brown on

This week, after weeks of negotiations, Senators Manchin and Schumer reached a deal on an energy and healthcare bill titled the Inflation Reduction Act of 2022 (the “Act”).  The Act includes extensive provisions relating to a...more

McDermott Will & Emery

Pennsylvania Cuts Corporate Tax Rate, Makes Other Changes to Corporate Tax Law

McDermott Will & Emery on

Pennsylvania Governor Tom Wolf has signed into law omnibus tax legislation to implement the Commonwealth’s fiscal year 2022 – 2023 budget. Among other things, the enacted legislation: (1) cuts the corporate net income tax...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, June 22, 2022

Build Back Better Outlook. Congressional Democrats are still hoping they can pass some version of the Build Back Better Act (BBBA), the budget reconciliation vehicle to advance some of President Joe Biden’s legislative...more

Brownstein Hyatt Farber Schreck

Treasury Department Fiscal Year 2023 Budget

Treasury Secretary Janet Yellen testified before the Senate Finance Committee and the House Ways and Means Committee this week to discuss the Biden administration's fiscal year 2023 budget proposal for the Treasury...more

Brownstein Hyatt Farber Schreck

Tax & Financial Services Week Ahead, June 6 2022

The House and the Senate reconvene Tuesday at 2 p.m. and Monday at 3 a.m., respectively....more

Brownstein Hyatt Farber Schreck

Taxation & Representation, May 17, 2022

Replacing Reed? Rep. Tom Reed (R-NY), a member of the House Ways and Means Committee, resigned from Congress last week. As of this writing, Republicans have not indicated when—or whether—they will fill the vacancy left by...more

Bailey & Glasser, LLP

BG Tax Alert - Take Two: Biden’s Budget Proposes Tax Hikes

Bailey & Glasser, LLP on

On March 28, 2022, President Biden announced his 2023 federal budget (Budget), which is often referred to as the President’s Green Book. While much of the Budget harkens back to the “Build Back Better Framework” (Framework),...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, May 3, 2022

LEGISLATIVE LOWDOWN - Bipartisan Innovation Act: More Tax Talk. The conference committee to reconcile the House-passed America Creating Opportunities for Manufacturing, Pre-Eminence in Technology and Economic Strength Act...more

Cadwalader, Wickersham & Taft LLP

A Pocket Guide to the 2023 Budget Proposals

On March 28, 2022, the Biden Administration released its budget proposal for Fiscal Year 2023 (the Budget). We summarize below the tax aspects of the Budget of particular interests to U.S. corporate taxpayers, financial...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, January 11, 2022

Tax Tidbit - Budget Reconciliation: By the Numbers. Since 1980, Congress has passed 26 budget reconciliation bills, 22 of which have become law. During 11 of those 41 years, Congress did not pass any budget reconciliation...more

Brownstein Hyatt Farber Schreck

Taxation & Representation, December 14, 2021

Senate Finance Committee Democrats Update Build Back Better. On Saturday afternoon, Senate Finance Committee Chair Ron Wyden (D-OR) released legislative text for the committee’s portion of the Build Back Better Act. The text...more

177 Results
 / 
View per page
Page: of 8

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide