Immediate Action Required by May 14, 2014 for Any Bank ‘Doing Business’ in Pennsylvania - On April 14, 2014 the Pennsylvania Department of Revenue issued Notice 2014-1 (the Notice). ...more
A plurality of the full Pennsylvania Supreme Court held that the disparity in valuations that results from the application of the statutory averaging formula for valuations and a combination provision are not...more
On October 11, 2013, the U.K. Government announced three key changes to the Code of Practice on Taxation for Banks (the Code): - A bank that breaches the Code could be publicly named. However, before concluding whether...more
Pennsylvania Act 52 (Act 52), signed into law on July 9, 2013, expands the reach of the Pennsylvania bank shares tax and allows the Commonwealth to impose the bank shares tax on a bank with no offices or branches in...more