News & Analysis as of

Tax General Business

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

Is a Series LLC Right for Your Business?

by Mintz Levin on

The Series limited liability company (the “Series LLC”) is more nuanced than an ordinary limited liability company, and for the right user, it provides flexibility that will streamline administration better than other...more

Global In-House Centers in India, v2.0

GICs in India are evolving from cost-saving platforms into Innovation Centers for emerging digital technologies that can provide a competitive advantage. Recent years have seen a resurgence of interest in GICs in India...more

IRS Withdraws Proposed Code §2704 Regulations On Lapsing Rights And Restrictions

by Cole Schotz on

The IRS has withdrawn the controversial proposed regulations under Code §2704 that would have significantly affected the use of discounts in US estate planning. Code §2704 provides that certain “applicable restrictions” on...more

New Guidance Sheds More Light on Italian Carried Interest Tax

by McDermott Will & Emery on

Following the approval of the new rules regarding taxation of carried interest proceeds enacted with Law Decree No. 50/2017 (Decree), the Italian Tax Authorities issued specific guidelines with Circular Letter No. 25/E, dated...more

New Partnership Audit Rules – Plan Ahead Before the Tax Bill Arrives

by Carlton Fields on

A new set of rules for partnership audits (New Audit Rules), which generally take effect January 2018, fundamentally alter the manner in which the Internal Revenue Service (IRS) will conduct audits of partnerships,...more

Cook County Retailers Cheer Repeal of Soda Tax That Spurred Class-Action Lawsuits

by Bryan Cave on

Cook County, Illinois has repealed its sweetened beverage tax, just two months after the unpopular ordinance was implemented. As we previously reported, Cook County was among a number of localities across the country to pass...more

UPDATE: MTC Extends Deadline for Amnesty under the Online Marketplace Seller Voluntary Disclosure Initiative

by M. Robinson & Company, P.C. on

Earlier today, the Multistate Tax Commission (MTC) released an update extending the October 17, 2017 deadline for businesses to file under its Online Marketplace Seller Voluntary Disclosure Initiative. The new deadline is now...more

Financial Services Quarterly Report - Third Quarter 2017: Global Update: UK Criminal Finance Act 2017: Immediate Considerations...

by Dechert LLP on

UK asset managers, non-UK asset managers carrying on business in the UK and the funds they manage are within the scope of the new corporate criminal offences of failing to prevent the facilitation of tax evasion. As the new...more

Small Business Focus: Employees and Independent Contractors

WHEN A PERSON OR BUSINESS NEEDS SOMEONE TO PERFORM SERVICES, that relationship may be structured in different ways. In some cases it may make sense for the person or business to hire someone as an employee, while other times...more

Minnesota Corporate Franchise Tax Change for Foreign Disregarded Entities

by Stinson Leonard Street on

The Minnesota Department of Revenue issued its position on foreign disregarded entities of corporate taxpayers on October 4, 2017. In response to the Minnesota Supreme Court decision filed August 2, 2017 in Ashland Inc. v....more

Amazon and Apple Issued Rulings from the European Commission

by King & Spalding on

The EC concludes that Luxembourg provided illegal tax benefits to Amazon of €250 million and refers Ireland to the European Court for failure to recover illegal tax benefits from Apple of €13 billion - On 4 October 2017,...more

Funds Talk: October 2017 - Far-Reaching U.K. Law Creates Corporate Criminal Offense for Failure to Prevent the Criminal...

The U.K.’s Criminal Finances Act 2017 (the “Act”), which went into effect on Sept. 30, 2017, significantly expands the U.K.’s ability to prosecute the criminal facilitation of tax evasion....more

“Constructive Gifts” & The Partnership Allocation Rules

by Farrell Fritz, P.C. on

Relief? Not So Fast- You may recall that the President directed the Treasury Department to identify “significant tax regulations” issued during 2016 that, among other things, add undue complexity to the tax laws. An...more

Get Ready for the Countdown: Final Delaware Unclaimed Property Regulations Published

by McDermott Will & Emery on

On October 1, 2017, the Delaware Department of Finance published final regulations in the Register of Regulations repealing its former unclaimed property regulations and promulgating a new reporting and examination manual. ...more

News from Second & State

Weekly Wrap - This week brought another false start to the now four-month overdue state budget. All signs pointed toward “go” last week; the Senate even scheduled additional session days to come to Harrisburg and finally...more

Tax Reform Update: A Call for Committee Action

by McNair Law Firm, P.A. on

On September 27, 2017, the Secretary of the Treasury, the Director of the National Economic Council, the Chair of the U.S. House Ways and Means Committee, the Chair of the U.S. Senate Finance Committee, the Speaker of the...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Uber’s Board of Directors has officially voted to realign the power balance at the company, reducing the clout of ousted CEO Travis Kalanick, and setting the stage for a stock sale to SoftBank. Oh yeah, and prepping for that...more

Republicans Announce Tax Reform Framework, Which Includes Repealing Estate Tax

After months of speculation, President Trump and the Republicans have announced their framework for tax reform. While specific details are not known, the key elements of the framework include...more

Ding, Dong, the Witch is Dead

by Charles (Chuck) Rubin on

--Here lies the remains of the Code §2704 Proposed Regulations. RIP, 2016-2017-- As part of President Trump’s mandated review of federal regulations, the Secretary of Treasury has issued a report specifically recommending...more

Treasury To Repeal/Revise 8 Burdensome Regs

As previously discussed, the IRS and Treasury identified in July eight Obama era tax regulations that are burdensome on taxpayers. The next step for Treasury was to determine what to do with these regulations, and today we...more

Risky Business: Sales Tax Case Sets The Stage For SCOTUS Showdown

by Akerman LLP on

It has long been the law of the land that a taxpayer must have a discernable physical presence in a state before it can be required to collect and remit sales and use taxes. The U.S. Supreme Court reaffirmed this...more

Musings on the Unified Tax Reform Framework - What It Means for the Real Estate Industry

by Goulston & Storrs PC on

This September, the Trump Administration, the House Ways and Means Committee and the Senate Finance Committee released a unified framework for a major tax reform effort. The framework is not a set of detailed legislative...more

Weekly Update Newsletter - September 2017 #3

by PilieroMazza PLLC on

SMALL BUSINESS ADMINISTRATION - “Rules of Practice for Protests and Appeals Regarding Eligibility for Inclusion in the U.S. Department of Veterans Affairs, Center for Verification and Evaluation Database” ...more

Unified Framework for Tax Reform

by Ballard Spahr LLP on

President Donald J. Trump and the "Big Six"—House Speaker Paul Ryan (R-WI), Senate Majority Leader Mitch McConnell (R-KY), Treasury Secretary Steven Mnuchin, White House adviser Gary Cohn, House Ways & Means Committee...more

More Specifics Come Out in New Trump Tax Plan

by Barley Snyder on

The Trump administration on Wednesday released its “Unified Framework for Fixing Our Broken Tax Code.” The reforms outlined in the documents provide more specificity than prior White House plans, but a number of specifics...more

3,973 Results
|
View per page
Page: of 159
Cybersecurity

Follow Tax Updates on:

"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 using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*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.