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

End and refund of the French 3% tax on distributions

by White & Case LLP on

The French Constitutional Court rules that the 3% contribution on distributions is unconstitutional - On 6 October, 2017, the French Constitutional Court, in its decision (n°2017-660 QPC), held that the 3% contribution on...more

Minority Shareholders’ Derivative Suit Foiled by Voiding of Corporation’s Charter for Nonpayment of Taxes

by Farrell Fritz, P.C. on

A business’s failure to pay state taxes can be a problem if the entity later wants to bring a lawsuit, or its non-controlling owners want to sue on the entity’s behalf....more

Limitation of Corporate Loss Carryforward Affecting Only Particular Share Transfers Declared Unconstitutional

by White & Case LLP on

The Federal Constitutional Court of Germany held that the forfeiture of tax loss carryforwards under Sec. 8c para. 1 sent. 1 CITA is inconsistent with the principle of equal treatment pursuant to German Constitutional Law....more

French 3% contribution tax on distributions: Claim opportunities for French subsidiaries of MNEs following new developments...

by DLA Piper on

On April 6, 2016 the First Instance Court of Montreuil filed a request with the French Constitutional Court in relation to potential breaches of the French Constitution (more precisely the Declaration of Human Rights dated...more

New Nevada Commerce Tax Effective July 1, 2015

by K&L Gates LLP on

While not purporting to give specific advice on Nevada tax law, the following is a summary of some of the general principals underlying the new tax law. A new Nevada Commerce Tax (“NCT”) was signed into law by Nevada Governor...more

New York’s Highest Court Considers Constitutionality of Retroactive Taxing Statute

by Hodgson Russ LLP on

Questioning the constitutionality of state personal income tax provisions seems to be all the rage these days. On the heels of the Supreme Court’s decision in Comptroller v. Wynne discussed in our recent blog post, New York’s...more

Monthly Benefits Update

by Franczek Radelet P.C. on

In Burwell v. Hobby Lobby, the Supreme Court held that regulations under the Affordable Care Act that require employer group health plans to provide contraceptive coverage violate the Religious Freedom Restoration Act (RFRA)....more

California Tax Relief for Sellers of Qualified Small Business Stock

On Friday October 3, 2013, Governor Brown signed into law AB 1412, which provides full relief for individuals affected by the decision in Cutler v. Franchise Tax Board, where the California Court of Appeal held that the...more

California State Senate Passes Measure Providing Partial Relief From Cutler Decision (re: QSBS)

The California State Senate yesterday approved a measure providing relief (albeit only partial relief) to those taxpayers facing retroactive tax assessments by reason of the Cutler decision. In Cutler v. Franchise Tax Board...more

The State Of California Seeks Back Taxes From Small-Business Shareholder- Not So Fast

by Moskowitz LLP on

A closer look at federal constitutional case law would seem to indicate that the State of California may not find it so easy to seek refunds plus interest after all....more

California’s Attempt to Retroactively Tax its Residents

by Reed Smith on

In Cutler v. Franchise Tax Board, a case litigated by Reed Smith, a California Court of Appeal held that the California property and payroll requirements of California’s Qualified Small Business Stock provisions were invalid....more

FTB issues Notice to Retroactively Deny "Qualified Small Business Stock" Tax Benefits. Amended Returns Should be Filed.

A California appellate court recently held as unconstitutional the California statutes extending the benefits of selling “qualified small business stock” (QSBS) to California taxpayers. In Cutler v. Franchise Tax Board (2012)...more

What is Mortgage Securitization

by Bankruptcy Lawsuit on

Plaintiff’s loan references a “Secondary market” securitized mortgage backed asset that is comprised almost entirely of securization structures related which is to a “Trust”. Thus the reference...more

Legislative Session Now Ended (Almost)

by Allen Matkins on

Yesterday was the end of the current legislative biennium. Under the California Constitution and legislative rules, this means that any bill not passed before today is now dead. Cal. Cons. Art. IV, § 10(c), Legislative Joint...more

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