News & Analysis as of September 20, 2024

Income Taxes › Bonds

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

Bond Issue Fundamentals: A Guide to the Participants and the Process - Updated

McNees Wallace & Nurick LLC on 1/17/2024

A bond issue (a debt obligation of a local government) is often perceived as a mystery for many Pennsylvania local government officials and solicitors. The securities and tax regulations governing municipal bonds have grown...more

Could an Upcoming Supreme Court Case Significantly Change US Tax Law?

Allen Barron, Inc. on 11/29/2023

Could a Supreme Court of the United States (SCOTUS) case significantly change US tax law? We are closely watching the developments in Moore v United States as it carries significant issues regarding “realized” versus...more

Florida District Court of Appeals hears oral arguments in addback dispute

Eversheds Sutherland (US) LLP on 10/13/2022

On October 11, 2022, the Florida District Court of Appeals, First District held oral arguments on State Farm Mutual Automobile Insurance Company v. Florida Department of Revenue, a case relating to the “add back” to...more

Weekly IRS Roundup September 19 – September 23, 2022

McDermott Will & Emery on 9/27/2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of September 19, 2022 – September 23, 2022....more

Implications Of COVID-19 Pandemic For Municipal Bond Transactions

McCarter & English, LLP on 4/14/2020

The COVID-19 pandemic is affecting municipal borrowers, including state and local governmental entities and conduit borrowers, as unexpected expenses grow and expected revenue declines as a result of stay-at-home and other...more

New Tax Rates Applicable to Bond and Sukuk Income, Tier II loans and securitizations

White & Case LLP on 4/5/2019

Withholding tax rates on income derived from Eurobonds and lease certificates issued outside of Turkey, on interest payments of Tier II loans and securitization financings; as well as BITT applicable to securitizations backed...more

IRS launches easy-to-use tax reform webpage

BCLP on 10/26/2018

The IRS has launched an easy-to-use webpage, IRS.gov/taxreform, with information about how the Tax Cuts and Jobs Act affects your taxes, with a special section focused on tax exempt entities. The tax reform page features...more

Trump’s Tax Reform: Effect on Nonprofits

Bowditch & Dewey on 3/6/2018

The Administration’s frenzy to pass “tax reform” created tax breaks for some—I’m looking at you, the Trump family—increased taxes for others, and confusion for everyone, at least until the IRS is able to promulgate official...more

Real Estate Aspects of Tax Reform

Sheppard Mullin Richter & Hampton LLP on 1/30/2018

On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act (TCJA), the most extensive overhaul of the United States tax regime in over thirty years. The new tax laws will have a significant impact upon...more

Proposed Tax Legislation - Highlights for Investment Funds

Dechert LLP on 12/20/2017

The final version of the proposed Tax Cuts and Jobs Act (the “Act”) was released on December 15, 2017. This legislation, unless amended again, is expected to be voted on this week in the U.S. House of Representatives and the...more

Potential Elimination of Future Private Activity Bonds (including Qualified 501(c)3 Bonds), Advance Refundings, Tax Credit Bonds,...

Miles & Stockbridge P.C. on 11/7/2017

On November 2, 2017, the House Committee on Ways and Means released a draft of its Tax Cuts and Jobs Act (the “Tax Bill”). The Tax Bill proposes to eliminate the federal tax exemption of interest income from all private...more

Tax Reform and the Potential Impact on Tax-Exempt Organizations

Holland & Knight LLP on 6/13/2017

Both the Trump Administration and key leadership in the U.S. House of Representatives and Senate are continuing their focus on tax reform. Although details are being withheld until the Republican leadership in the House,...more

New Countries Eligible for Italy's White List

Orrick, Herrington & Sutcliffe LLP on 9/12/2016

In the Official Gazette No. 195 of 22 August 2016, the Italian Government published the Ministerial Decree of 9 August 2016 (the "Decree") that amended the list of countries and territories "allowing an adequate exchange of...more

The Advantage of Crossover Refunding of Build America Bonds

Dorsey & Whitney LLP on 3/26/2016

Many governmental entities considering an advance refunding of their Build America Bonds (“BABs”) can achieve a better economic result by using a crossover refunding. While an advance “net” refunding typically results in a...more

Negative Interest Rate Consequences

Morrison & Foerster LLP on 7/20/2015

Over the last few months, the financial press has been filled with reports of negative interest rates. For example, on December 18 2014, the Swiss National Bank announced that it would move from a zero percent interest rate...more

Under the Dome: Inside the Maine State House

Pierce Atwood LLP on 6/12/2015

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Budget Negotiations Run Hot and Cold - Late last Friday evening, the Appropriations Committee...more

Tax Ruling Offers Welcome Clarification on Spanish Regime for Qualifying Bond Offerings

Latham & Watkins LLP on 2/13/2014

New tax ruling addresses controversial aspects of the Spanish tax regime applicable to qualifying bond offerings. The Spanish Tax Authorities recently published Binding Tax Ruling V3670-13 (the Ruling), which...more

Post-Issuance Tax Compliance and Continuing Disclosure Responsibilities for Issuers and Borrowers of Tax-Exempt Bonds

Orrick, Herrington & Sutcliffe LLP on 10/22/2013

Chapter One: Introduction: Why Post-Issuance Compliance? Over the past few years, the tax-exempt bond market has been under heightened scrutiny by various regulators, including the Internal Revenue Service...more

Junior Goes to College! Innovative Strategies to Save for Your Children's College Education with Pre-Tax Dollars

Gerald Nowotny - Law Office of Gerald R.... on 9/17/2013

Overview - The cost of college tuition has gone through the roof. The average cost of a private university can range from $40,000-60,000 per year. The cost of a public university is a lot less in most cases except that...more

How the New ‘Fiscal Cliff’ Law Affects the Municipal Bond Market

Ballard Spahr LLP on 1/10/2013

The American Taxpayer Relief Act of 2012 (the Act), passed by the Senate and the House and Representatives on New Year’s Day and signed by the President on January 2, 2013, includes several direct and indirect consequences...more

"28% Cap" Unlikely to Trigger Wave of Municipal Bond Tax Calls

Mintz - Public Finance Viewpoints on 1/9/2013

Market commenters have suggested that billions of dollars in municipal bonds may be subject to par redemptions if the much-discussed “28% cap” on the value of certain federal income tax deductions or exclusions is enacted and...more

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Income Taxes › Bonds

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