Revenue

News & Analysis as of

New Nevada Commerce Tax Effective July 1, 2015

While not purporting to give specific advice on Nevada tax law, the following is a summary of some of the general principals underlying the new tax law. A new Nevada Commerce Tax (“NCT”) was signed into law by Nevada Governor...more

California Needs to Spend $853 Billion for New Infrastructure

California is the most populous state in the Country; if it were a country it would have the world’s 8th largest economy. So it’s probably no surprise to hear that a new study has found California needs to spend $853 billion...more

Marijuana and the Tax Apocalypse

As Californians evaluate the potential for legalization of Marijuana it is important to consider the current state of conflict between state and federal laws and regulations regarding the production, distribution and sale of...more

Eureka: California Controller Discovers New Source of Revenue from Insurers

The California Controller’s (Controller) latest squeeze on the life insurance industry involves: sending life insurers notices of assessment of interest on unclaimed property reported and voluntarily remitted in December...more

April 17, 2015 NC Legislative Update

Legislators are back in Raleigh after a week off and it doesn’t look like anything has changed after the extra time they were given to reflect on the session. Just as we’ve seen before: - There’s a new bill that would...more

North Carolina General Assembly Week in Review

Members of the North Carolina General Assembly had a full schedule this week, considering bills on everything from repealing the state’s cumbersome Map Act to voiding a law which required teachers to write Personal Education...more

March 13, 2015 Legislative Update

Redistricting Local Bills - SB 181 – Wake County Commissioner Districts and SB 36 – Greensboro City Council Districts, the two bills that remake the governing boards of two large local governments, passed the Senate...more

Alabama Legislator Introduces Broad Unitary Combined Reporting Bill

As part of Republican Governor Robert Bentley’s eight-bill revenue package, Representative Mike Hill (R-Columbiana) has introduced a mandatory unitary combined reporting bill (often called “MUCR”), H.B. 142, that would be...more

Meanwhile in Texas … Who Should Decide About Fracking?

Rep. Phil King has introduced two bills relating to fracking. House Bill 539 would add requirements for municipalities that propose petitions or ordinances that will affect oil and natural gas production. The Bill would...more

U.S. Department of the Interior Launches Online Data Portal Giving Access To Revenue Data

Last Thursday, December 11, 2014, the Department of the Interior (“DOI”) became the latest governmental agency to open the doors to some of its data via a new online portal located at https://useiti.doi.gov/....more

GPO Fees Under Scrutiny by the GAO

Last week, the Government Accountability Office (GAO) released a report examining group purchasing organization (GPO) practices. The GAO questioned whether the current structure of GPO funding through administrative fees is...more

PCAOB Urges Audit Committee Scrutiny of Revenue Recognition

The PCAOB recently issued Staff Audit Practice Alert No. 12, which outlines significant audit deficiencies relating to revenue that PCAOB inspections have identified. ...more

CIOs Spur Revenue Generation Through Smart Cybersecurity

Today as companies increasingly realize the value of strong cybersecurity, those CIOs who successfully implement an effective cybersecurity system should be viewed as a critical part of the revenue generation effort. An...more

Spotlight on Tennessee: Letter Ruling Addresses Treatment of a Section 338(h)(10) Election

Tennessee does not expressly conform to most provisions in Subchapter C of the Internal Revenue Code. Instead, Tennessee's federal corporate income tax conformity is determined based on the "starting point" that Tennessee...more

That’s A Wrap – Sort Of…

Let freedom ring! There has been lots of drama in Harrisburg this week as the legislature and the governor wrangle over the final days of the fiscal year. In truth, the budget saga is not quite over yet, but both the House...more

Indiana Tax Court denies budget and tax levy appeals; two local units gave improper notices, one erroneously argued that poor...

The Indiana Tax Court has issued three decisions in the first half of 2014 relating to appeals of final determinations by the Department of Local Government Finance (DLGF) regarding budgets and tax levies for local taxing...more

Illinois Department of Revenue’s Local Retailers’ Occupation Tax Sourcing Rules Pass Hurdle; Sourcing Rules for Internet Sales...

During its June 17 meeting, the Illinois Joint Committee on Administrative Rules (“JCAR”) approved the Department of Revenue’s (“DOR”) proposed local retailers’ occupation tax rules (“Local ROT Sourcing Rules”) issued...more

New Revenue Recognition Standard Adopted

The Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) issued jointly written revenue recognition standards on May 28, 2014. The new guidance standardizes how companies...more

CRA Update: Aggressive Tax Planning

At the Toronto Centre Canada Revenue Agency & Tax Professionals Breakfast Seminar on June 10, 2014, the Canada Revenue Agency (“CRA”) provided an update on selected CRA Compliance Measures in the Aggressive Tax Planning...more

Weekly Update from the NC State House - June 2014: After giving its final approval to their version of the state budget just after...

Conflicting Budgets - After giving its final approval to their version of the state budget just after midnight Saturday morning, the Senate took a long weekend, not returning to Raleigh until Wednesday. The budget...more

New Revenue Recognition Standard Will Likely Affect Most Companies and Require Pre-Adoption Planning

U.S. companies will need to comply with a new converged revenue recognition standard that the FASB and the International Accounting Standards Board (IASB) issued on May 28. The converged standard—which applies to fiscal years...more

PA Tax Law News - Spring 2014

In This Issue: - OUCH! Do PA Revenue Shortfalls Foretell PA Tax Increases? - County Property Assessment Appeals Deadlines Approaching! - McNees Attorneys Goodman and Varner Author 2014 Edition of Assessment Law...more

From Second and State: Session Preview

After a three-week break for the primary election and the Memorial Day holiday, the House and Senate will reconvene on Monday and continue with session days on Tuesday and Wednesday next week. With less than a month to go...more

Pennsylvania Tax Developments - A Reed Smith Quarterly Update: May 2014

This is a brief update on recent Pennsylvania tax developments. For more information on any of these developments, contact one of the authors or the Reed Smith State Tax attorney with whom you usually work....more

Florida’s Revenue System Outlined In New Report

The Leroy Collins Institute has published a report that outlines their view of the state’s revenue system and its potential misuse. The report, entitled “Tougher Choices: Shaping Florida’s Future,” builds on a 2005 Institute...more

53 Results
|
View per page
Page: of 3

"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:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.
×