News & Analysis as of

Tax Rates

How is this not a sin tax?' Cigarette fee questioned by Oklahoma Supreme Court justice

by GableGotwals on

The Oklahoma Supreme Court has ruled a $1.50-a-pack fee on cigarettes passed this session to be unconstitutional, prompting Gov. Mary Fallin to say she believes a special session of the Legislature would be necessary....more

Assessing the Taxability of Solar Energy Systems in Michigan

by Varnum LLP on

The very practical concern of knowing how solar energy equipment is taxed in Michigan is just one of many questions for those considering such a project. Under Michigan's General Property Tax Act (the "Act"), real and...more

Foreign Investor Surcharges Illustrate Lack of Harmonisation in State Tax Policy

by K&L Gates LLP on

In the 17th century the French politician Jean-Baptise Colbert said "the art of taxation consists in so plucking the goose as to procure the largest quantity of feathers with the least possible amount of hissing." For the...more

Tax Reform Update: 4 Issues to Watch as Congress Nears Summer Recess

by Latham & Watkins LLP on

Administration and Congressional tax negotiators abandon border adjustment tax, but leave unanswered questions regarding rates, revenues, and taxation of US multinationals. As Congress heads toward its late summer 2017...more

WindPower 2017 Soundbites

The American Wind Energy Association’s (AWEA) annual conference, WindPower, was held in Anaheim, California. Below are soundbites from panel discussions on May 24, 2017. The soundbites were prepared without the benefit of a...more

Prediction Markets' Forecast on Tax Changes

by Slim Ventures LLC on

Prediction markets accuracy rates average 74%[1], and are more often more accurate than expert or public opinion surveys. With that in mind, we thought we would give you the prediction markets’ take on the likelihood of...more

The Malta Pension Plan – A Supercharged, Cross-Border Roth IRA

by Bilzin Sumberg on

In the cross border setting, two of the principal goals in international tax planning are (i) deferral of income earned offshore and (ii) the tax efficient repatriation of foreign profits at low or zero tax rates in the...more

The Federal Government takes aim at private corporations and their shareholders

by Dentons on

On July 18, 2017, the Federal Government released a package of tax measures aimed to “improve fairness”, “close loopholes” and limit tax planning strategies that involve the use of private corporations. The suite of measures...more

Nate Smithson Provides an Update on Tax Reform

by Jackson Walker on

Jackson Walker partner Nate Smithson has prepared an updated guide to tax reform under the Trump administration. The guide covers tax brackets, deductions, capital gains, and other relevant topics in tax law. Please see...more

IRS Identifies 8 Burdensome Regulations for Reform

Responding to a Trump Executive Order, the Treasury Department has reviewed all significant tax regulations issued after December 31, 2015 and identified eight regulations to be reformed to mitigate the burden that the...more

Why you need EXPERT ADVICE if you have a PFIC and you are out of Compliance!

by Foodman CPAs & Advisors on

Taxpayers need to rely on the expert professional advice of a tax specialist for the treatment of Passive Foreign Investment Companies (PFICs) during Offshore Voluntary Disclosure Program (OVDP) reporting. PFIC computations...more

Upcoming REITs in Poland

by Dentons on

In May 2017, the Polish Government published the second, improved draft bill introducing Real Estate Investment Trusts (“REITs”) in Poland, following the first one which was announced in October 2016....more

Greek Shipowners Extend Voluntary Tax

Greek shipowners have agreed to extend a voluntary tax contribution to the Greek government, which I previously blogged about, for an additional year due to the fact that Greece is still struggling with its debt crisis....more

Applicable Federal Rates - July 2017

by Charles (Chuck) Rubin on

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

Trump Tax Proposal Could Create Compensation-Related Opportunities

The Trump administration’s proposed overhaul of the federal income tax system includes a reduction of the maximum federal corporate income tax rate from 35 percent to 15 percent. If enacted, the proposal — a one-page outline...more

Extension and Refinement of the Aircraft Leasing Scheme in Singapore

by Morgan Lewis on

The Aircraft Leasing Scheme in Singapore is to be extended for another five years with refinements to encourage the growth of the aircraft leasing sector. On 20 February 2017, the Minister of Finance, Mr. Heng Swee Keat,...more

What the New Kansas Income Tax Bill Will Mean for Individuals and Businesses

by Stinson Leonard Street on

The saga of Kansas income tax law changes concluded earlier this week when Kansas lawmakers overrode Gov. Sam Brownback's veto of a bill that dismantled the governor's signature tax cuts. With the state facing an estimated...more

Tax Reform and the Potential Impact on Tax-Exempt Organizations

by Holland & Knight LLP on

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

Food & Beverage Litigation Update | June 2017 #2

Seattle Approves Tax on SSB Distributors - The Seattle City Council has approved a tax on distributors of sugarsweetened beverages (SSBs) proposed by the city’s mayor. SSBs covered by the tax include sports, fruit, energy...more

Tax Reform 2017 - Will it Ever Come?

by Dickinson Wright on

For tax attorneys, tax reform is always a hot topic. President Trump was elected with GOP majorities in both chambers of Congress, which would normally make the forecast for tax reform actually being enacted favorable. ...more

Preserving Deferred Tax Assets in a Capital Raise

by Bryan Cave on

Hosts Jonathan Hightower and Rob Klingler discuss recent capital raises and techniques used to preserve deferred tax assets....more

US: Amazon wins tax dispute over cross-border IP transfer, but favorable tax treatment may no longer be available

by Hogan Lovells on

Earlier this year in Amazon v. Commissioner, 148 T.C. No. 8 (March 23, 2017), the U.S. Tax Court issued a 207-page decision largely upholding Amazon’s tax treatment of an intellectual property transfer in 2005 and 2006 from...more

Tax Reform Pushing Ahead

Despite the political controversy swirling around the firing of James Comey and the appointment of a special prosecutor, the White House and Republicans are determined to push forward with tax reform. Later this week,...more

Tackling Tax Reform – Part IV: What Can We Expect To See

by Garvey Schubert Barer on

On April 11, 2017, we discussed what constitutes Tax Reform. On April 24, 2017, we explored the process by which Tax Reform will likely be created by lawmakers. In our May 3, 2017 blog post, we focused on the likely timing...more

New Ruling Makes a Splash -- Fees to Use a Bathroom are not Subject to Sales Tax

by Hodgson Russ LLP on

A new advisory opinion issued by the New York State Department of Taxation and Finance should make all New York taxpayers flushed with pride – access to toilets is not subject to tax. The case involved a new software...more

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