Corporate Taxes

News & Analysis as of

Michigan Treasury Issues Revised Interpretation of Unitary Business Groups Following LaBelle Decision

On February 28, 2017, the Michigan Department of Treasury issued guidance in response to the Supreme Court's denial of Treasury's application to appeal LaBelle Management, Inc v Michigan Department of Treasury, 315 Mich App...more

"Key Takeaways: Lessons Learned From Tax-Related Whistleblower Litigation and Shareholder Actions"

On March 8, 2017, Skadden hosted a webinar titled “Lessons Learned From Tax-Related Whistleblower Litigation and Shareholder Actions.” The Skadden panelists were tax partners Nathaniel Carden and Armando Gomez, and litigation...more

NJ Guidance on State Tax Addback: Refund Opportunity for Taxpayers Adding Back Capital Stock or Bank Taxes

For purposes of computing New Jersey corporation business tax, the statute requires a taxpayer to add back any taxes paid to other states on or measured by profits or income, or business presence or activity. Yesterday, the...more

Prospecting for tax deductions

Earlier this year, the Commissioner of Taxation released TR 2017/1 - Income Tax: deductions for mining and petroleum exploration expenditure (the "Ruling"). The Ruling is the finalised version of TR 2015/D4, issued in...more

German Corporate Law Update: Important Changes in Acquisitions and Investments

For companies interested in investing in, purchasing or selling German companies, here are several recent developments related to Data Privacy and Cybersecurity, M&A, Employment and Tax law that are helpful to keep in mind....more

Important New Business Tax Proposals for U.S. Tax System

During the past few months, there has been considerable speculation over potential changes to the U.S. tax system that could have an impact on international businesses. At this stage, the discussions are preliminary and the...more

Are you paying your children too much to work in the family business? The IRS might think so.

A United States Tax Court recently issued a decision after trial that should serve as a reminder to management and controlling shareholders of family-owned businesses that salaries or other compensation paid to family-member...more

A Quiet UK Budget for Asset Managers, But Other Recent Tax Changes Shouldn’t Be Forgotten

After numerous UK tax changes affecting asset managers over the past few years – not least the wholesale re-vamping of the tax treatment of carried interest and other fund participations for investment fund managers – the UK...more

Update: Upheaval in the German Restructuring Market: Need-to-Know Facts, Alternative Tools and New Draft Law

To date, a debt waiver has been frequently used as a tool to successfully restructure German-based companies in financial difficulties. A decision of the German Federal Fiscal Court (Bundesfinanzhof) published on...more

Fun with Roth IRAs: New Sixth Circuit Decision Blesses Aggressive Tax Planning

A recent decision by the Federal Sixth Circuit Court of Appeals expands the potential for Roth IRAs to be used to protect income from corporate and shareholder level tax....more

Tax support of M&A transactions

Tax issues are major aspects of complex investment transactions involving the acquisition of an active business to expand one's own business, portfolio investments intended to grow shareholder value, granting/raising project...more

Initiative tax audit

Is the company calculating its taxes correctly? Business owners and management ask this question more or less regularly. It is possible to get an expert opinion on this issue from the state, as represented by the tax...more

New Partnership and Corporate Tax Return Filing Dates Now in Effect

As I previously discussed, the federal tax due date for partnership and corporate tax returns changed for tax years on or after 2016. This means that the new filing deadlines are now in effect. Partnership and S corporation...more

The U.S. Tax Reform and the Energy Sector

President Donald Trump and Republican Congressional leaders have promised a major reform to the U.S. tax code in 2017. This reform, if anything close to these promises, will have significant implications for the energy...more

Florida Department Of Revenue Issues Advisement Determining That A Reinsurer And Its Cedents Did Not Have Nexus In Florida For Tax...

On January 13, 2017, the Florida Department of Revenue issued a Technical Assistance Advisement regarding whether a reinsurer had nexus with the state of Florida that would require it to file a corporate income tax return and...more

House Blueprint’s Destination-Based Cash Flow Tax: A Primer

The election of Donald Trump in November has substantially increased the likelihood of major tax reform in the near future. While it is uncertain what shape such reform will take, there has been renewed interest in the...more

Auf Wiedersehen to the tax privilege on restructuring gains – a blow to the German restructuring tool kit

A recent judgment of the German Federal Fiscal Court (FFC) will have significant impact on the restructuring tool kit afforded under German law. The FFC has found that the existing practice of permitting a tax liability...more

The introduction of GST to India - What businesses should look out for in 2017

The Constitution Amendment Bill for Goods and Services Tax (GST) has been approved by The President of India and the GST council have decided to enforce GST from 1st July 2017....more

Check Your Michigan Unitary Group Filings - LaBelle Is Final

On February 28, 2017, the Michigan Department of Treasury (the Department) issued a Notice to Taxpayers (the Notice) explaining its approach in administering the now final Michigan Court of Appeals decision in LaBelle...more

New Tax Filing Deadlines Affect Unsuspecting LLCs and Partnerships For 2017

Several tax bills passed by Congress late in 2015 changed the deadlines for filing federal income tax returns for partnerships and most limited liability companies, which are treated as partnerships for tax purposes. Other...more

Private Equity and the New Trump Administration: Your Top Ten Questions Answered

The election of President Trump contained more than a few positive signs for Private Equity (PE) firms. Promises of a lower corporate tax environment, a ten-percent tax holiday for funds parked overseas, large infrastructure...more

US Tax Reform: Strategies for Executing Transactions in the Face of Uncertainty

Tax reform plans would fundamentally alter the landscape for key business decisions, impacting a business’ legal, finance, corporate development and other divisions, as well as tax groups. Key Points: ..Tax reform...more

Stay out of TROUBLE: Make sure your CPA is asking you the right QUESTIONS regarding Foreign Accounts!

US International tax is complicated. It often overwhelms US Taxpayers. That is why an international tax specialist CPA is the best choice for the work. Nonetheless, many Taxpayers seek the help of tax return preparers...more

Oman's New Tax Law

Oman's latest Royal Decree introduces sweeping amendments to the Income Tax Law of 2009 and was formally published on 26 February 2017....more

Key Takeaways: Prospects for US Business Tax Reform — What You Need to Know

On February 16, 2017, Skadden hosted a webinar titled “Prospects for U.S. Business Tax Reform: What You Need to Know.” The Skadden panelists were M&A partner Stephen Arcano; global tax co-head Eric Sensenbrenner; and tax...more

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