News & Analysis as of

Corporate Taxes Tax Reform

Tax Reform’s Changes To The Treatment Of Non-Shareholder Contributions To Capital

by Pierce Atwood LLP on

The 2017 tax reform act amended Section 118 of the Internal Revenue Code, to dramatically reduce the ability of a corporation to exclude from its gross income grants that the corporation receives from federal, state, or local...more

Trickle Down Guidance: Interim Notices Tackle Key International Reforms

by Alston & Bird on

On April 2, in quick succession, the IRS and Treasury announced notices addressing two provisions added by the Tax Cuts and Jobs Act (TCJA): the repatriation tax under Section 965 and withholding on non-publicly traded...more

Tax Reform: Insurance Company Provisions

by Carlton Fields on

Recent tax legislation, informally known as the Tax Cuts and Jobs Act (the “Act”) contains several changes that affect the insurance industry....more

Tax Law’s Impact on Real Estate Industry

by Moskowitz LLP on

This GlobeSt.com article features an interview with Moskowitz Attorney Steve Moskowitz. The new tax law promises to have a significant impact on owners, investors and the real estate industry as a whole. In this exclusive,...more

FERC Initiates Sweeping Reform of Ratemaking Treatment for Income Taxes

by King & Spalding on

On March 15, 2018, the Federal Energy Regulatory Commission (FERC) released a series of issuances intended to address the need to reflect the lower maximum corporate income tax rate adopted under the Tax Cuts and Jobs Act of...more

New York State Responds to Federal Tax Reform

On March 30, 2018, the New York Legislature passed the 2018–2019 Budget Bill (SB. 7509-C/A 9509-C) (Budget Bill), which addresses several provisions of the newly enacted Tax Cuts and Jobs Act (P.L. 115-97) (TCJA) and...more

New Tax Law Eliminates 30-Day Safe Harbor Against CFC Status

by Carlton Fields on

The recent tax law changes have focused primarily on corporate income tax, and in the international context, mostly on outbound tax matters. However, certain less publicized changes to the Code’s controlled foreign...more

Decoding the Tax Cuts and Jobs Act – Part IX: Impact on M&A Transactions

by Garvey Schubert Barer on

The Tax Cuts and Jobs Act (“TCJA”) will significantly impact merger and acquisition (“M&A”) activity. Although billed as tax reform, the TCJA did not reform or simplify the Internal Revenue Code (“Code”). Virtually none of...more

West Coast Real Estate Update - April 2018

by Holland & Knight LLP on

Federal Budget Helps Affordable Housing - Advocates for and developers of affordable housing lamented tax cuts passed late last year. A decrease in the corporate tax rate made the low-income housing tax credit (LIHTC)...more

Multinational Financial Groups After the U.S. Tax Reform: Selected Inbound and Outbound Issues

by Latham & Watkins LLP on

Introduction and Overview - The Tax Cuts and Jobs Act (“TCJA”) resulted in the most sweeping changes to the Internal Revenue Code (the “Code”) in decades and will result in countless articles and commentary to address the...more

Deducting Attorneys’ Fees Under the Tax Cuts and Jobs Act of 2017

The Tax Cuts and Jobs Act of 2017 (the “2017 Act”) purports to bring broadly lower tax rates to most U.S. individuals and companies; however, it does so at the expense of clear tax policy objectives in many areas. That lack...more

Georgia Legislature enacts significant income, sales, and property tax legislation

The Georgia legislative session concluded on March 29, 2018. In addition to two major bills relating to federal tax reform, Georgia enacted several other pieces of notable tax legislation....more

Tax Reform’s Impact on Financing Strategies

by BakerHostetler on

As more of the dust settles after the December 2017 passage of the Tax Cuts and Jobs Act, P.L. 115-97, borrowers and lenders alike are reconsidering their future financing strategies. One of the more significant changes in...more

Corporate E-Note - March 2018

by Burr & Forman on

Alabama and South Dakota are the only two states that have not passed a data breach notification and reporting law. On March 1, Alabama got one step closer to not finishing dead last when the Alabama senate passed SB318 —...more

Tax Reform Act Changes to CFC Attribution Rules

The recently enacted tax reform act (the Act) significantly altered the U.S. taxation of foreign income. Perhaps most prominently, the Act allows U.S. corporations to fully deduct (and thus not pay tax on) dividends received...more

Rethinking Business Entities Under The New Tax Act

by Fox Rothschild LLP on

The Tax Cuts and Jobs Act of 2017 changes the income tax planning for all businesses, including for small business owners. It is now more important than ever for business owners to consult with their tax advisors before...more

The Tax Laws Changed. Should Your Business and Estate Plans Change Too?

by Thompson Coburn LLP on

On January 1, 2018, the most significant changes to the U.S. tax code in 30 years took effect. While the permanency of these changes varies, they are all currently scheduled to continue until at least 2026, which is long...more

20% Tax Deduction for Pass-Through Entities?

by Foodman CPAs & Advisors on

IRS defines Pass-Through entities as: “an entity that passes its income, loss, deductions, or credits to its owners. The owners may be partners, shareholders, beneficiaries, or investors. It usually does not have an entity...more

Understanding the “GILTI” of the Tax Reform

by Foodman CPAs & Advisors on

The Tax Cuts and Jobs Act (TCJA) introduced several complex, hard to understand international tax provisions to the Internal Revenue Code. One of them is the tax on Global Intangible Low-Taxed Income (GILTI). Beginning with...more

How Will Recent Tax Legislation Affect the Renewable Energy Sector?

by Pepper Hamilton LLP on

The Bipartisan Budget Act of 2018 (Pub. L. No. 115-123) (the Budget Act) was signed into law on February 9. The legislation took effect roughly seven weeks after President Trump signed into law an Act to Provide for...more

FERC Abandons Tax Allowance in MLP Pipeline Rate Setting and Signals Changes Due to Tax Act Rate Drop

On Thursday, March 15, 2018, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued a series of orders and notices to address changing the treatment of income tax costs in rate setting for oil and natural...more

Employee Benefits Alert

This alert is intended to provide you with an update on the following employee benefit developments that we thought would be of interest: Tax Cuts and Jobs Act reduces the health savings account limit for 2018....more

IRS Confirms Deduction Denial for Qualified Transportation Benefits

Under the Tax Cuts and Jobs Act (the “Act”) employers are no longer allowed to take a deduction for qualified transportation fringe benefits provided to employees (other than qualified bicycle commuting reimbursements which...more

Life Sciences Quarterly: Tax Cuts and Jobs Act: Implications for Life Science Business

by Ropes & Gray LLP on

What is the impact of the Tax Cuts and Jobs Act and what provisions of the legislation are relevant to the life sciences industry? In this recap of our first quarter presentation of 2018, which includes video and an...more

FERC Acts to Address Decrease in Federal Corporate Income Tax Rate

by Alston & Bird on

The effects of the Tax Cuts and Jobs Act are rippling through the energy industry. Our Energy Group explores how the Federal Energy Regulatory Commission considers accounting for the new corporate tax rate and what it could...more

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