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Educational Institutions Tax Reform

Stikeman Elliott LLP

2024 Federal Budget: Sales and Excise Tax Measures

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On April 16, 2024 (“Budget Day”), the federal government released its annual budget (“Budget 2024”), which includes certain sales and excise tax measures and also confirms the government’s intention to proceed with several...more

Williams Mullen

Williams Mullen 2022 Virginia General Assembly Session Overview

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The 2022 General Assembly session adjourned sine die on March 12, 2022. This year’s session was a so-called “long session,” and lasted 60 days instead of the 45 day “short session,” which occurs in oddnumbered years. Over the...more

Dentons

Iowa 2022 Legislative Session – Week 5

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Week five was a shortened work week due to the Iowa midterm caucuses. Both parties held their caucuses around the state on Monday night. This is a chance for parties to set their platforms for upcoming elections and to meet...more

Benesch

Governor DeWine Signs Two-Year State Budget

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Last week, Governor Mike DeWine signed the $74 billion state operating budget, which builds on the Governor’s vision for the future. The two-year spending bill (HB 110), includes nearly $162 billion in all funds...more

Mintz - ML Strategies

ML Strategies Capitol Hill & Executive Branch Fall Preview

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With Labor Day now behind us, Washington returns to a fairly significant workload for September and October in the run-up to the midterm elections in November. The House is in session for the next two weeks before returning...more

Steptoe & Johnson PLLC

Sales Tax Changes for Non-Profits in Kentucky

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Earlier this year, the Kentucky Legislature passed two tax bills that broadly change Kentucky’s corporate and personal income tax system, as well as make a number of sales and use tax and property tax changes. In the effort...more

Mintz - ML Strategies

FY2019 Massachusetts Budget Update: Final Senate Budget

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On Friday, May 25, 2018, the Senate unanimously approved a $41.49 billion budget for FY2019. The Senate’s passage of its annual spending plan follows Governor Charlie Baker’s budget proposal made in January and the House...more

Mintz - ML Strategies

FY2019 Massachusetts Budget Update: House Ways and Means Budget

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On Wednesday, April 11, the House Ways and Means Committee proposed a $40.991 billion budget for FY2019 that represents an increase of $1.24 billion, or 3.1 percent, above FY2018 spending levels. The budget proposes $83...more

Harris Beach PLLC

The New York State Budget: New Tax Code and Record Funding for Education

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The recent passage of the state’s budget, which took effect on April 1, 2018, aims to provide relief to the middle class to combat the change in federal tax law. New York is making a concerted effort to protect...more

Mintz - ML Strategies

Governor Baker Files FY2019 Budget

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On Wednesday, January 24, 2018, Governor Charlie Baker released a $40.9 billion budget proposal for FY2019. The plan, commonly referred to as House 2, is the fourth Baker has proposed since assuming office and increases...more

WilmerHale

Tax Act: New Laws Affecting Tax-Exempt Organizations

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The Tax Act contains a number of provisions that significantly affect tax-exempt organizations, in some cases to degrees not seen in decades. In addition, several provisions may indirectly affect tax-exempts, for example, by...more

Proskauer - Tax Talks

Tax Reform’s Effect on the Sports Industry

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On Friday, December 22, 2017, President Trump signed into law H.R. 1, the $1.5 trillion tax reform law known as the Tax Cuts and Jobs Act (the “Tax Reform Act”). This alert describes provisions of the Tax Reform Act that we...more

Lathrop GPM

The Tax Cuts and Jobs Act of 2017

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H.R. 1, better known as The Tax Cuts and Jobs Act of 2017 (the “Act”), passed both the House and Senate earlier this week and was signed by President Trump. Most of the relevant provisions of the Act will be effective for tax...more

Goodwin

Changes on the Horizon for Colleges and Universities Under Tax Reform Legislation

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On December 20, 2017, Congress sent a major tax reform bill (the Act) to President Trump for signature. Once signed, the Act will result in significant changes for many institutions of higher education. Notably, new excise...more

Proskauer Rose LLP

U.S. Tax Reform – Key Highlights for Private Investment Funds in Tax Cuts and Jobs Act Bill

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On Friday, December 15, 2017, the Congressional conference committee released a revised version of the Tax Cuts and Jobs Act (the "Tax Bill"). The Senate and the House are expected to vote on the Tax Bill this week. The Tax...more

Cadwalader, Wickersham & Taft LLP

Provisions of the Final Tax Reform Bill Affecting Nonprofit Tax-Exempt Organizations

On December 20, 2017, the Senate and House of Representatives passed H.R. 1, known as the “Tax Cuts and Jobs Act” (“Tax Reform Bill”). President Trump is expected to sign the Tax Reform Bill by early January. The Tax Reform...more

Miller Canfield

The Effect of Tax Reform on Michigan Charter Schools

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Many recent press reports have warned of the negative affect tax reform could have on charter schools around the country. These reports focus on the proposed elimination of private activity bonds (“PABs”) under the House tax...more

Patterson Belknap Webb & Tyler LLP

Senate Passes Tax Reform Bill

On November 16, the House of Representatives passed an amended version of H.R. 1, the “Tax Cuts and Jobs Act,” by a vote of 227-205 (the “House Bill”). On November 20, 2017, the Senate Finance Committee released the Senate’s...more

Orrick, Herrington & Sutcliffe LLP

Oregon Client Alert Urgent Action Needed to Preserve Private Activity Bonds

Maintaining the existing authority under the Code for private activity bonds (PABs) is vital to continuing public and private investments in infrastructure that support the economy and essential public services. Such...more

McGuireWoods LLP

Tax Cuts and Jobs Act: Senate Bill Revisions Affecting Tax-Exempt Organizations

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The U.S. Senate produced its version of the Tax Cuts and Jobs Act early on the morning of Dec. 2, 2017. Most of its terms closely track the Chairman’s Mark that the Senate Finance Committee approved Nov. 16, but a few key...more

Akerman LLP

The Tax Cut And Jobs Act: Passed To Make Higher Education Less Attainable?

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Having passed a critical hurdle in the Senate, it appears likely that some version of the Tax Cut and Jobs Act will be passed into law. It is also becoming clear that the passage of this Act will impact higher education by...more

Patterson Belknap Webb & Tyler LLP

House Passes Tax Bill; Senate Proposal on Track for Vote

On November 2, 2017, House Ways and Means Committee Chairman Kevin Brady (R-TX) introduced H.R. 1, the “Tax Cuts and Jobs Act” (the “Initial House Bill”). Our previous alert discussed the possible impact of certain provisions...more

Miller Canfield

Proposed Tax Reform Legislation Would Increase Financing Costs for Issuers of Tax-Exempt Bonds

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The U.S. House of Representatives has passed its Tax Cuts and Jobs Act (the “House Bill”), and while much of the national media has focused on its impact on corporate and individual tax rates and deductions, the bill also...more

Proskauer - Not for Profit/Exempt...

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

K&L Gates LLP

Tax Cuts and Jobs Act Could have Far-reaching Effects on Higher Education

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The House of Representatives and the Senate are on a fast track to pass sweeping tax reform legislation that would have widespread implications for colleges and universities, their employees, and their donors. As part...more

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