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Art, Entertainment & Sports Tax

Read need-to-know updates, commentary, and analysis on Art, Entertainment & Sports issues written by leading professionals.

Updates for Tax-Exempt Organizations from the Senate Markup to the Tax Cuts and Jobs Act

Over the last several days, there have been significant developments relating to the Tax Cuts and Jobs Act, the pending tax reform legislation in Congress. On Thursday, a detailed summary of the Senate Finance Committee’s...more

Tax Reform: Focus on the Sports Industry

by Proskauer - Tax Talks on

Over the last several days, there have been significant developments relating to the Tax Cuts and Jobs Act, the pending tax reform legislation in Congress. On Thursday, a detailed summary of the Senate Finance Committee’s...more

A Win for Boston Bruins: Tax Court Sides With Team in Clash Over De Minimis Fringe Benefits

In a recent, decision, the United States Tax Court determined that the pregame meals provided to Boston Bruins players and personnel at away games qualify as a de minimis fringe benefit under Section 274(n)(2)(B) of the...more

Rules Proposed for Claiming Georgia Musical Tax Credits

by Taylor English Duma LLP on

Rules Proposed for Claiming Georgia Musical Tax Credits - On October 5, 2017, the Georgia Department of Revenue proposed rules for implementing O.C.G.A. § 48-7-40.33, entitled the Georgia Musical Investment Act (“the...more

Recent IRS Ruling Creates (Interest)ing Tax Conundrum for Sports Teams Utilizing Personal Seat Licenses

by Stinson Leonard Street on

On June 2, 2017, the Internal Revenue Service (IRS) held in a private letter ruling that proceeds used to a fund portion of the new stadium for the Los Angeles Rams franchise of the National Football League (NFL) and received...more

Recent IRS Ruling Creates (Interest)ing Tax Conundrum for Sports Teams Utilizing Personal Seat Licenses

by Stinson Leonard Street on

On June 2, 2017, the Internal Revenue Service (IRS) held in a private letter ruling that proceeds used to a fund portion of the new stadium for the Los Angeles Rams franchise of the National Football League (NFL) and received...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. Legislative Council Hears State Fiscal Report - On Tuesday, September 19, the Legislative Council...more

New Sales Tax Exemption for Georgia Fine Arts Non-Profits

by Taylor English Duma LLP on

On August 21, 2017, the Georgia Department of Revenue released Policy Bulletin SUT-2017-07 providing a sales tax exemption for sales of tickets, fees, or charges for admission to certain fine arts performances or exhibitions...more

SCORE! for the Boston Bruins – Jacobs v. Commissioner

Like Napolean recognizing that an army marches on its stomach, the owners of the Boston Bruins know a hockey team needs to be well-fed to ensure optimal performance on game day. So, when the Bruins go on the road to play...more

Who Says There Is No Such Thing as a Free Lunch? -- the US Tax Court in Jacobs v. Commissioner Ruled That There May Be Such a...

by Garvey Schubert Barer on

Judge Ruwe ruled in Jeremy M. Jacobs and Margaret J. Jacobs v. Commissioner, 148 T.C. 24 (June 26, 2017), that a free lunch may exist today under Federal tax law. In this case, the taxpayers, owners of the Boston Bruins of...more

Sports Teams Can Deduct Full Cost of Pre-Game Meals for Traveling Employees at Hotels at Away Games

by Cozen O'Connor on

Overview - In a surprising decision, the Tax Court has allowed the owners of the Boston Bruins hockey team (a subchapter S corporation) to deduct 100 percent of the cost of pre-game meals at hotels for employees while...more

The Supreme Court - June 27, 2017

by Dorsey & Whitney LLP on

Cyan, Inc. v. Beaver Cty. Employees, No. 15-1439: Whether state courts lack subject matter jurisdiction over covered class actions that allege only Securities Act of 1933 claims....more

Will It Soon Be Game over for Tax-Exempt Financing of Professional Sports Stadiums?

Public financing, including tax-exempt bond financing, of facilities used by professional sport teams has long been a controversial topic, with advocates and opponents disagreeing over whether the public benefits sufficiently...more

Tax incentives in Puerto Rico: a quick introduction

by DLA Piper on

To promote, attract and develop key industries, sectors and activities, Puerto Rico offers a spectrum of economic incentives, among them low fixed income tax rates, partial and/or total tax exemptions, income tax credits and...more

News from Second and State

Weekly Wrap - We are now about one month away from the end of the 2016-2017 fiscal year, and if this week was a preview of what to expect in June, it will be a busy month indeed. Plenty of bills were reported from the...more

News from Second and State

This week’s big news is not from the General Assembly, but from the Commonwealth’s judicial branch. Candidates in party primary elections squared off on Tuesday for a shot to run for positions on the Commonwealth, Superior...more

Detroit Updates Its Jock Tax

by Fraser Trebilcock on

In March of this year, the City of Detroit officially codified its jock tax and released new income tax guidelines which clarify how professional athletes should apportion their income to Detroit for purposes of its city...more

Leading Tax Counsel For College Athletes Advise They May Not Realize How Good They Now Have It

by Ropes & Gray LLP on

In this interview with the LEAD Association, tax partner Lorry Spitzer examines the tax implications of paying college athletes....more

WIN Wise: Dawn Raids - are you prepared? Our top 10 tips for in-house lawyers

by DLA Piper on

Early on Wednesday morning, while the majority of us were only just beginning our day, some 180 HMRC investigators were deployed to a number of premises pertaining to two prominent English football clubs, including a...more

Netflix Commits to Los Angeles. Don’t Expect a Trend.

by Fox Rothschild LLP on

Netflix handed a pleasant surprise to Hollywood when in announced that it is committing to spend its $6 billion annual budget for original productions in California rather than chasing tax incentives in other states and...more

Georgia Weekly Legislative Update - April 2017

by Dentons on

The Georgia General Assembly adjourned for the year in the early morning hours of Friday, sending to Governor Nathan Deal a major slate of bills, including a failing schools turnaround program, a pilot program for highly...more

A “Thriller” in Tax Court: The Estate of Michael Jackson and IRS Dispute Valuation of Pop Star’s Image

by Bowditch & Dewey on

How much were the late King of Pop’s name and image worth when he died? His estate put the figure at $2,105 but the IRS believes the value is at least $434 million. That’s a huge discrepancy and with penalties and interest...more

Michael Jackson Estate Tax Case Moving Forward

by Charles (Chuck) Rubin on

Most estate tax practitioners will tell you estate tax it is all about valuation when assets are other than cash and marketable securities. The estate tax case of the Michael Jackson estate is an ideal demonstration. Tax...more

NC Legislative Update: February 2017 #2

by Nexsen Pruet, PLLC on

This Week - Following a lawsuit by Gov. Roy Cooper (D), a law passed in one of last year’s December special sessions creating the Bipartisan State Board of Elections & Ethics Enforcement (BSBEEE) was put on hold. The...more

Six Tips for Tribal Governments to Reduce Tribal Member Taxes in 2017

by Holland & Knight LLP on

As the Republican-led Congress and White House move forward on the repeal of the Affordable Care Act (ACA) and major tax-reform legislation, there are several new opportunities that may benefit tribal governments and their...more

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