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Foley & Lardner LLP

What Every Multinational Company Should Know About … Antiboycott Regulations

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During the mid-1970’s, the U.S. adopted two laws that seek to counteract the participation of U.S. citizens in other nations’ economic boycotts or embargoes. These antiboycott laws are the 1977 amendments to the Export...more

McDermott Will & Emery

Weekly IRS Roundup March 6 – March 10, 2023

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Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 6, 2023 – March 10, 2023...more

Morgan Lewis

Successful Oil Excise Tax Challenge Leads to Opportunities and Uncertainty for Exporters

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A recent challenge to the constitutionality of the federal excise tax on domestic crude oil exported from the United States proved successful in the US Court of Appeals for the Fifth Circuit. While the US Department of...more

Freeman Law

Texas Tax Roundup | August 2022

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Howdy folks, and welcome back to another action-packed edition of the Texas Tax Roundup! Let’s see what shocking developments in the realm of Texas tax that the month of August had in store!...more

Sheppard Mullin Richter & Hampton LLP

USTR Suspends Tariffs on Certain French Luxury Goods: A Potential Shift in Trade Talks

Key Takeaways: • Threatened 25% tariffs on French luxury goods are suspended. • USTR is still looking at tariffs in retaliation for taxes on U.S. global tech companies. • Biden’s new USTR will face immense pressure to...more

Hogan Lovells

Coronavirus: The Hill and the Headlines – COVID-19 D.C. Update – June 2020 # 18

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In Washington: The Treasury Department, working with the Internal Revenue Service (IRS), mistakenly delivered more than a million stimulus payments worth about $1.4 billion to deceased people, according to a report...more

Fenwick & West LLP

Proposed Guidance on the Production Sourcing Rules under New Section 863(b)

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The Tax Cuts and Jobs Act (TCJA) repealed the long-standing “50/50” sourcing rule for United States exporters of manufactured products. Under the new rules, which source income of a “producer” solely to the place of...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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More on the rather shocking departure of John Flannery from GE, the Board that didn’t want to give him any more leash for his turnaround plans, and the future of the embattled corporate giant under Larry Culp....more

Bilzin Sumberg

Commission Payments to IC-DISC Recharacterized as Non-Deductible Dividends

Bilzin Sumberg on

In Summa Holdings, Inc. v. Commissioner, T.C. Memo 2015-119, the Tax Court recharacterized an exporter’s deductible commission payments made to an IC-DISC as non-deductible dividend payments to the exporter’s shareholders...more

Baker Donelson

Exporting: A great way to save on your U.S. federal corporate income taxes!

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Saving on your federal income taxes is yet another reason to start exporting. If your company manufactures or processes goods in the U.S. you can set up a Domestic International Sales Corporation (“DISC”) and save up to 20%...more

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