News & Analysis as of

Tax Rates

Trump Administration Releases Blueprint of Tax Reform

by Williams Mullen on

On April 26, 2017, the Trump Administration announced a blueprint of tax reform principles that is described as “The Biggest Individual and Business Tax Cut In American History.” The Administration identified four goals for...more

WH: Trump Pushing for 15% Corporate Tax Rate and Repeal 3.8% NIIT

The White House announced today that reducing the corporate income tax rate to 15% and repealing the 3.8 % net investment income tax are top priorities for tax reform. The 3.8% NIIT was implemented as part of ACA/Obamacare...more

Evaluating Tax Reform Proposals and Their Potential Impact on the Energy Sector

by Faegre Baker Daniels on

It has been over thirty years since the last major overhaul of the U.S. tax code, President Reagan's Tax Reform Act of 1986. That process took over two years and required cooperation between the President and both parties in...more

Treating Partners as Employees – Overview and Update

by Ballard Spahr LLP on

Limited liability companies (LLCs) have become the fastest-growing entity choice for businesses in recent years. LLCs provide flexibility in operations and distributions. However, to the surprise of many businesspeople, if an...more

Where Federal Tax Reform Goes, Will State Taxes Follow?

by Ballard Spahr LLP on

With Republicans in control of both the White House and Congress, comprehensive federal tax reform likely is on the horizon. Both the tax reform plan outlined by President Donald J. Trump during his campaign (the Trump Plan)...more

Business Tax Reform – the Current State of Play

by Ballard Spahr LLP on

President Donald J. Trump campaigned on a platform of large tax cuts for businesses. With President Trump in the White House and Republicans controlling both the House of Representatives and Senate, does it mean businesses...more

ML Strategies Alert - FY2018 Massachusetts Budget Update: House Ways and Means Budget

On Monday, April 10th, the House Ways and Means Committee proposed a $40.3 billion budget for FY2018 that calls for increasing spending by 3.8 percent, or about $1.47 billion, above FY2017 levels. The spending increase is...more

Hodgson Russ LLP’s Report on the 2017-18 New York State Budget

by Hodgson Russ LLP on

On April 10th, the New York State budget for 2017-18 was signed into law. The highlights of the revenue provisions are summarized below....more

Tax Reform Moves to the Top of the Agenda

by Baker Donelson on

In his first comments after the decision to withdraw the AHCA from House consideration, President Trump told the assembled media, "I would say that we will probably start going very, very strongly for the big tax cuts and tax...more

The Flat Tax for individuals transferring their tax residence to Italy

The 2017 Budget Law 2017 introduced a substitute tax optional regime (equal to € 100,000 per each tax year) for non-resident individuals wishing to transfer their tax residence to Italy. ...more

La "Flat Tax" per i neo-residenti non domiciliati

Con la legge di bilancio 2017, il legislatore ha introdotto un regime opzionale di tassazione forfetaria (pari a € 100.000 annui) per le persone fisiche non residenti che intendono trasferire la residenza fiscale nel nostro...more

Locke Lord Article: Tracking Tax Reform

by Locke Lord LLP on

With the recent release and subsequent quick defeat of the American Health Care Act (AHCA), healthcare reform dominated the news and tax reform was waiting for its turn in the spotlight. Tax reform was a major issue on the...more

Further Update on Federal Taxation - Australian Infrastructure Investment and Privatisation

by Jones Day on

Last month, we reported in our White Paper on taxation proposals directed at infrastructure and utility privatisation transactions. Since we wrote, the Commonwealth Treasury ("Treasury") has published a policy paper directed...more

Financial Services Quarterly Report - First Quarter 2017: Luxembourg Parliament Adopts 2017 Tax Reform Measures

by Dechert LLP on

The Luxembourg Parliament has adopted new tax measures that affect individual and corporate taxpayers, with effect from 1 January 2017.1 This article summarizes key measures....more

Under the Dome: Inside the Maine State House

by Pierce Atwood LLP on

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Testimony on Tax Surcharge Bills - This week, the Legislature’s Taxation Committee heard...more

Tightening the Tax Screws on International IP Structures

by Carlton Fields on

For many years prudent international tax planning for multinational enterprises has included structures designed to minimize global taxes by developing or holding intangible property (IP) in foreign subsidiaries located in...more

Update on 2704 Proposed Regulations and Impact on 2016 Gift Tax Reporting

by Dickinson Wright on

Following the December 1, 2016 public hearing, the IRS reportedly began working on revisions to and clarifications of the new 2704 proposed regulations. While the uproar from the estate planning and accounting communities...more

Applicable Federal Rates - April 2016

by Charles (Chuck) Rubin on

Please see charts below for more information....more

French Legal and Regulatory Update - February 2017

by Hogan Lovells on

The Paris office of Hogan Lovells is pleased to provide this English language edition of our monthly e-newsletter, which offers a legal and regulatory update covering France and Europe for February 2017. Commercial Law...more

Pending Appeal in Michigan Supreme Court May Warrant Filing a Protective Property Tax Appeal This Year

by Dickinson Wright on

On February 1, 2017, the Michigan Supreme Court ruled that it would hear oral arguments on the application for leave to appeal in Menard. One of the issues to be considered is “whether the Michigan Tax Tribunal may utilize a...more

The U.S. Tax Reform and the Energy Sector

by Hogan Lovells on

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

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

by Shearman & Sterling LLP on

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

Republicans Release Much Anticipated ACA "Repeal and Replace" Bill, But Will it Fly Under the Byrd Rule?

by Hogan Lovells on

On March 6, 2017, House Republicans in the Committee on Ways and Means and the Committee on Energy and Commerce introduced the American Health Care Act (AHCA), a bill that would repeal and replace key portions of the...more

Business rates revaluation 2017: an explanation

by Hogan Lovells on

On 1 April 2017 the business rates payable in respect of properties in England and Wales will be changing. Business rates are the tax that businesses pay on the retail, office and industrial premises that they occupy. ...more

Will “Trumpcare” Replace Obamacare by April?

by Carlton Fields on

Monday, House Republicans revealed two bills collectively meant to repeal and replace the Affordable Care Act (ACA). House committees began reviewing the legislation yesterday. The bills do not contain any major surprises and...more

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