News & Analysis as of

Exclusions

Jaburg Wilk

Exclusions, Exemptions, Estate Tax – What to Know in 2025

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As we enter 2025, it’s important to stay informed about the current federal estate and gift tax laws, including annual exclusion limits and significant changes anticipated by the end of this year. Annual Exclusion Amount- ...more

Lathrop GPM

Estate Planning 2025 Federal Tax Update

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As we start the new year, this Federal Tax Update highlights estate planning-related federal tax information as you consider 2025 planning options. ...more

Holland & Knight LLP

Continuing Trend: Section 301 Machinery Exclusion

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A total of 185 Section 301 exclusion requests for machinery used in domestic manufacturing have been filed as of Dec. 19, 2024. Of those, 136 requests remain open for opposition or support from interested parties or for...more

Vondran Legal

VRBO owners, does your welcome book and terms include a DO NOT TORRENT warning?

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Strike 3 Holdings is an adult pornography company located in California that has literally filed over 10,000 federal court copyright infringement cases across the United States for nearly a decade now. No company files more...more

Warner Norcross + Judd

Navigating the Tariff Terrain: Current Landscape and Future Outlook

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For several years now, Section 301 and 232 tariffs have impacted the cost of production, resulted in price increases, shifted global supply chains and increased domestic investments in manufacturing. With new potential...more

Kohrman Jackson & Krantz LLP

IRS Increases 2025 Federal Estate Tax Exemption and Gift Tax Exclusions: Key Points for Taxpayers

Estate planning is a lot like putting together a puzzle. The client provides you with their box lid showing what they want the ultimate result of their plan to look like. Then, estate planners are tasked to identify and...more

Amundsen Davis LLC

USTR Announces Long-Awaited Section 301 Exclusion Process for Domestic Manufacturing Machinery

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In a notice published on September 18,Globe 2024, the U.S. Trade Representative (USTR) announced 14 temporary exclusions for solar manufacturing equipment and a list of subheadings eligible for consideration of temporary...more

Carey Olsen

Bermuda corporate and finance update Q2 2024

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Our corporate team outline the latest developments within the corporate and finance market in Bermuda including Bermuda’s Corporate Income Tax Act 2023, Cyber risk management and The Bermuda Monetary Authority's enhancements...more

Wiley Rein LLP

USTR Issues Section 301 Exclusion Procedures for Certain Machinery Used in Domestic Manufacturing

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On October 15, 2024, the Office of the U.S. Trade Representative (USTR) began collecting requests for exclusions from Section 301 tariffs for Chinese-made machinery imported for use in domestic manufacturing. As noted in our...more

Venable LLP

USTR Opens Section 301 Exclusion Process for Machinery Used in Domestic Manufacturing

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On Wednesday, October 16, 2024, the Office of the U.S. Trade Representative (USTR) published a Federal Register notice announcing that the agency opened an electronic portal for exclusion requests for "Certain Machinery Used...more

Rivkin Radler LLP

Thinking About Making Taxable Gifts Before the 2026 Sunset?

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As we will see shortly, it is often “better to give than to receive,” though this statement begs the obvious question of whether it is better to do so during one’s lifetime or upon one’s death. Many well-to-do individuals...more

Dickinson Wright

USTR Finalizes Modifications on Section 301 Tariffs

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On September 16, 2024, the Office of the United States Trade Representative (“USTR”) announced the final modifications on China 301 tariffs after completing its statutory four-year review in May 2024....more

Bradley Arant Boult Cummings LLP

Court Rejects Application of Flood Exclusion to Hurricane Rainfall

As the Atlantic hurricane season reaches its peak in September, bringing with it rainfall and flooding, a recent New Jersey court held a sewer overflow resulting from rainfall was not caused, directly or indirectly, by a...more

Proskauer - Health Care Law Brief

Post‑Chevron Spotlight: Disproportionate Share Hospital Payments Restored as Texas Hospitals Prevail in Challenge to HHS Exclusion...

In a victory for Texas health care providers, in Baylor All Saints Medical Center dba Baylor Scott & White All Saints Medical Center‑Fort Worth et al. v. Xavier Becerra, case number 4:24‑cv‑00432, the United States District...more

Wiley Rein LLP

USTR Issues Proposed Section 301 Exclusion Request Form for Certain Machinery Used in Domestic Manufacturing

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On August 15, 2024, the Office of the U.S. Trade Representative (USTR) published an information collection request (ICR) with respect to its proposal, first announced in May, to allow importers to request temporary exclusions...more

Lippes Mathias LLP

Tax Considerations for Mergers and Acquisitions: Qualified Small Business Stock and its Tax Benefits

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For an active business in the post-Tax Cuts and Jobs Act (TCJA) world of lower corporate tax rates, buyers and shareholders considering a future exit should always consider C corporations and the availability of potential...more

Lasher Holzapfel Sperry & Ebberson PLLC

Avoid the Estate Planning Exemption Cliff: Plan to Take Advantage of the Current Exemption Before it Expires

In an effort to provide Americans with various forms of tax relief, in 2017 Congress enacted the Tax Cuts and Jobs Act (“Tax Act”). This act provided tax reductions in many different categories, but one of the most...more

Baker Donelson

SALT Select Developments - July 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Skadden, Arps, Slate, Meagher & Flom LLP

Shareholder Proposal No-Action Requests in the 2024 Proxy Season: A Surge in Requests and Better Results for Companies

Shareholder proposals submitted for 2024 annual meetings continued to cover a wide range of environmental, social and governance (ESG) topics. And companies seeking to exclude shareholder proposals they deemed inappropriate...more

Warner Norcross + Judd

Final Fiduciary Rule — Part 3: Amendments to PTEs 84-24, 75-1, 77-4, 80-83, 83-1 and 86-128

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On April 25, 2024, the U.S. Department of Labor (DOL) released regulations redefining who is an investment advice fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code...more

Parker Poe Adams & Bernstein LLP

What Employers Should Know About Summer Intern Programs

As we begin this summer season, so too do we begin the season of summer interns. While bringing on summer interns can provide a wide array of benefits to a company, employers must be careful to create a legally compliant...more

Braumiller Law Group, PLLC

Braumiller-Law-Group - June 2024 Newletter

Recently, President Biden signed a foreign military support bill (H.R. 815) into law, which also encompassed the 21st Century Peace Through Strength Act (the Act), a legislative proposal introduced in the House containing...more

Quarles & Brady LLP

Is Your Employee or Contractor Excluded?

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Employers must check its employees, contractors and vendors to see if an individual or organization is excluded from participating in federal and/or state programs. While there are a variety of exclusion programs at the...more

Braumiller Law Group, PLLC

Hot Topics in International Trade - June 2024 - USTR Extends Certain Section 301 Exclusions for One Year – Is Your Exclusion...

The United States Trade Representative (USTR) recently released a list of Section 301 exclusions that would be extended through May 31, 2025.[1] Within the Notice, the USTR explained that extending these exclusions will...more

Troutman Pepper Locke

Important Update: Changes to Section 232 Exclusion Process and Biden ‎Administration's Tariff Policy

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On May 17, 2024, the U.S. Commerce Department’s Bureau of Industry and Security (“BIS”) published a Final Rule revising the Section 232 tariff exclusion process for imported steel and aluminum products. Effective July 1,...more

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