Income Taxes, Exemptions

Form SD Deadline Approaching for Resource Extraction Issuers: Reminder and FAQs

Baker Botts L.L.P. on 8/27/2024

As previously discussed in our Client Alert issued on December 18, 2020 (available here), the U.S. Securities and Exchange Commission (the “Commission”) adopted its final rule (the “Final Rule,” available here) requiring...more

Weekly IRS Roundup June 17 – June 21, 2024

McDermott Will & Emery on 6/28/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 17, 2024 – June 21, 2024. ...more

The CTA’s Large Operating Company Exemption in Focus

Ruder Ware on 6/12/2024

The Corporate Transparency Act (the “CTA”), part of the federal government’s effort to curtail money laundering by means of shell company structures, imposes disclosure requirements on most entities registered to do business...more

Weekly IRS Roundup May 27 – May 31, 2024

McDermott Will & Emery on 6/7/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 27, 2024 – May 31, 2024. ...more

Weekly IRS Roundup April 15 – April 19, 2024

McDermott Will & Emery on 4/23/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of April 15, 2024 – April 19, 2024. ...more

Lead Service Lines/Drinking Water: Internal Revenue Service Determination Addressing Exemption of Replacement Cost

Mitchell, Williams, Selig, Gates & Woodyard,... on 3/5/2024

The United States Internal Revenue Service (“IRS”) addressed the federal income tax treatment of certain lead service line replacement programs for residential property owners. See announcement 2024-10....more

Weekly IRS Roundup January 8 – January 12, 2024

McDermott Will & Emery on 1/17/2024

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 8, 2024 – January 12, 2024....more

Out with the Old? Not So Fast! A Quick Review of 2023 Highlights

Bradley Arant Boult Cummings LLP on 12/29/2023

2023 has brought many updates and changes to the legal landscape. Our blog posts have covered many of them, but you may not remember (or care to remember) them. Before moving on to 2024, let’s take a moment to review our top...more

You “Placed Your Trust” In New York? You May Be Sorry You Did

Rivkin Radler LLP on 2/3/2023

According to a report issued by the National Association of Realtors a couple of days ago, last year saw a large outmigration of people from California and New York, while Florida and Texas experienced a comparably large...more

Weekly IRS Roundup December 13 – December 17, 2021

McDermott Will & Emery on 12/21/2021

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 13, 2021 – December 17, 2021. December 13, 2021: The IRS published a memorandum...more

New Developments on the VAT Exemption for Fund Management Services

Goodwin on 7/30/2021

On 17 June 2021, the Court of Justice of the European Union (CJEU) rendered two decisions about the application of the VAT exemption for management services provided in article 135 (1) (g) of the EU VAT Directive and...more

Snapshot: Corporate Income and Franchise Taxes in the USA

Bradley Arant Boult Cummings LLP on 10/12/2020

How is taxable income determined in your state? To what extent is the state income tax base aligned with the federal income tax base? Alabama levies a corporate income tax on business entities classified as taxable or “C”...more

Do I Need to Make a Large Gift Now?

Dickinson Wright on 9/1/2020

Many wealthy individuals are asking that question out of fear that the historically high estate/gift tax exemption of $11,580,000 ($23,160,000 for a married couple), indexed annually for inflation, could be significantly...more

Saving Estate Generation Tax Skipping With Upstream Gifts To The Older Generation

Moritt Hock & Hamroff LLP on 7/10/2020

Complex times are times to seek advice and consult your Estate Planner. Federal estate tax laws in place during the 1970s, 1980s and 1990s were very oppressive. These laws were modified to a great extent and now benefit...more

Lifetime Gifting in the United Kingdom: Opportunities and Clarifications

McDermott Will & Emery on 7/29/2019

The Office of Tax Simplification (OTS) recently released a report on simplifying the design of UK inheritance tax (IHT). This article highlights areas where taxpayers might take advantage of existing opportunities to make...more

Extraordinary profits created under restructurings according to German law – to be exempt or not to be exempt, that is the...

Hogan Lovells on 11/27/2018

Recently the German legislature passed a new law, exempting extraordinary profits created by the waiver of claims under restructurings from income tax liability. ...more

Texas Comptroller Glenn Hegar’s Hurricane Harvey Relief Initiatives

Jackson Walker on 9/1/2017

1. Hotel Occupancy Tax Declared Exempt For Evacuees and Relief Workers - The Governor of Texas, by way of proclamation, has exempted evacuees and relief workers from state and local hotel taxes. Currently the Governor’s...more

New Tax Court Decision Provides Planning Opportunities for Foreign Investors Investing in U.S. Partnerships

Mintz on 8/21/2017

On July 13, 2017, the U.S. Tax Court issued its opinion in Grecian Magnesite Mining, Industrial & Shipping Co., SA v. Commissioner, in which the Tax Court held that a non-U.S. person who sells an interest in a partnership...more

What the New Kansas Income Tax Bill Will Mean for Individuals and Businesses

Stinson LLP on 6/14/2017

The saga of Kansas income tax law changes concluded earlier this week when Kansas lawmakers overrode Gov. Sam Brownback's veto of a bill that dismantled the governor's signature tax cuts. With the state facing an estimated...more

Changes in Taxation of Closed-end Investment Funds

K&L Gates LLP on 11/9/2016

The Sejm has received a draft act on the amendment of personal income tax and corporate income tax. The amendment aims at changing taxation of investment funds....more

Looking over the edge of the Cliff - The Use of Pooled Income Funds to Reduce the Taxation of Offshore Repatriated Carried...

Gerald Nowotny - Law Office of Gerald R.... on 10/24/2016

The addition of IRC Sec 457A effectively ended the ability of investment managers to defer the tax recognition of the carried interest in the investment manager’s offshore fund. Under IRC Sec 457A, hedge fund managers must...more

Income Taxes › Exemptions