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General Business Tax Securities

Read need-to-know updates, commentary, and analysis on General Business issues written by leading professionals.

French legal and regulatory update – February 2018

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 2018. Please see full...more

Virtual Currency Tax Consequences

by Carlton Fields on

A growing number of startups are offering virtual currencies to investors through initial coin offerings (ICOs) as a way to raise capital, often with little or no awareness of the tax consequences of their actions....more

Disposal of shares by non-residents: Gaining the capital perspective

by Hogan Lovells on

Capital gains tax (CGT) was introduced to the Income Tax Act (the Act) on 1 October 2001. The basis from which it operates is that if a capital asset is sold at a profit, the profit is subject to CGT, and if it is sold at a...more

Orrick's Financial Industry Week In Review

CFTC Files Eight Anti-Spoofing Enforcement Actions against Three Banks (Deutsche Bank, HSBC & UBS) & Six Individuals - On January 29, 2018, the Commodity Futures Trading Commission ("CFTC"), along with the Department of...more

Tax Act Could Impact Tax-Exempt Bonds

by Bowditch & Dewey on

One of the key components of the recently passed Tax Cuts and Jobs Act is the reduction in the corporate tax rate from 35 percent to 21 percent for tax years beginning after December 31, 2017. Banks, financial institutions,...more

U.S. 10% Shareholder Taxpayers have a new Mandatory “Transition Tax”

by Foodman CPAs & Advisors on

The “Tax Cuts and Jobs Act” (the “Act") has a provision requiring U.S. Shareholder Taxpayers that own 10% or more of a Controlled Foreign Corporation (CFC) and other “Specified Foreign Corporations” to pay a “transition tax”....more

Orrick's Financial Industry Week In Review

Interagency Statement on Accounting and Reporting Implications of the New Tax Law - On January 18, 2018, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal...more

Private Equity Fund Taxation Post-Tax Reform: What Really Changed?

Congress has passed the tax reform bill, known as the “Tax Cuts and Jobs Act” (the “Act”), and President Trump signed it into law on December 22, 2017. The Act contains wide-ranging changes to the tax law, many of which will...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

The Fed held its last Open Markets Committee meeting under outgoing Chair Yellen, and it agreed to hold the benchmark rate in a range between 1.25% and 1.5%. Here’s the lowdown....more

UK Tax Round Up - January 2018

by Proskauer Rose LLP on

The impact of discounts on consideration for VAT purposes (Finanzamt Bingen-Alzey v Boehringer Ingelheim Pharma GmbH & Co. KG) - The ECJ has confirmed that consideration for VAT purposes should be reduced by any discount...more

Drafting 10-K Disclosures for the Tax Cuts and Jobs Act

Public companies with fiscal quarters ended December 31, 2017, but not fiscal year ends, are beginning to make disclosures showing the effects of the Tax Cuts and Jobs Act in recently filed Form 10-Qs in accordance with SAB...more

Annual Reporting Requirements for Incentive Stock Options and Employee Stock Purchase Plans

Requirement to Report For (1) any exercise of an incentive stock option (ISO) during 2017 or (2) transfer during 2017 of a share previously purchased pursuant to a tax-qualified employee stock purchase plan (ESPP), the...more

How IRC 199A and the New 20-Percent Tax Deduction for Small Businesses Works (or Doesn’t) for Sole Proprietors

by Lane Powell PC on

By now our reading public is familiar with the newly created deduction under IRC § 199A. Indeed, many of you have already spoken with your tax adviser and they may have suggested converting your LLC (if taxed as a...more

Investment Services Regulatory Update - January 2018

by Vedder Price on

New Rules, Proposed Rules, Guidance and Alerts - SEC STAFF GUIDANCE AND ALERTS - Division of Investment Management Staff Issues Liquidity Risk Management Program FAQs - On January 10, 2018, the staff of the SEC’s...more

Compensation Season 2018: Section 162(m) and Related Considerations Post-Tax Reform

by White & Case LLP on

On December 22, 2017, the Tax Cuts and Jobs Act (the "Act") was signed into law. The Act includes significant changes to the executive compensation deduction rules contained in §162(m) of the Internal Revenue Code (the...more

Disclosure of Accounting Impact of the Tax Cuts and Jobs Act in SEC Reports

by Goodwin on

On December 22, 2017, the Office of the Chief Accountant (the OCA) and the staff of the Division of Corporation Finance (the Staff) of the Securities and Exchange Commission published guidance relating to financial accounting...more

FASB to Revise Accounting for Tax Act

FASB received unsolicited input from banks and insurance companies and related trade groups on the accounting for what is referred to as the Tax Cuts and Jobs Act. Based on the input, FASB has tentatively decided to revise...more

Capital Markets & Public Companies Quarterly: 2018 Proxy Season Pointers, Disclosing the “Tax Cuts and Jobs Act,” Shareholder...

by McDermott Will & Emery on

The end of a year and beginning of the next generally starts the countdown to the public company proxy season. But before moving into 2018, registrants would be well served by first looking back to the guidance that came out...more

IRS Filing and Reporting Requirements for ISO Exercises and ESPP Stock Transfers

by Fenwick & West LLP on

This client alert is intended to remind you of certain 2017 year-end reporting requirements under Section 6039 of the Internal Revenue Code of 1986, as amended (the Code), with respect to stock issued to employees or former...more

Impact of Tax Reform on Some Private Company Equity Awards: Limited Income Tax Deferral Opportunities for Employees

by Perkins Coie on

The recent tax reform bill, commonly referred to as the Tax Cuts and Jobs Act of 2017 (the Act), was signed into law on December 22, 2017. The Act includes a new income tax deferral regime for certain employee stock options...more

Initial Tax Disclosures Regarding 162(m) in Proxy Statements

Many know that the Section 162(m) deduction limit for performance-based compensation has been repealed by the recent tax legislation together with implementation of other changes, effective for taxable years beginning after...more

Tax Act Hit to U.S. Taxpayers with Equity Ownership (Even Indirect Minority Ownership) in Foreign Entities with Unremitted...

On December 15, 2017, Congress released its final version of tax reform – the Conference Report Bill (the Bill). The Bill was signed into law by President Trump on December 22, 2017....more

New Deferral Opportunity for Stock Awards

The Tax Cuts and Jobs Act includes a new provision that can delay the taxation of compensation paid to employees of “eligible corporations” in the form of “qualified stock” for up to five years. The provision is set forth in...more

The Impact of Tax Reform on Private Equity and M&A Transactions

by McDermott Will & Emery on

Now that the 2017 tax reform act is law, private equity and M&A professionals must grapple with its sweeping changes and reconcile the new provisions with how they do business. This On the Subject summarizes important...more

The Effects of Tax Reform on Private Equity

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 law will have a significant impact upon...more

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