News & Analysis as of September 24, 2024

Income Taxes › Tax Cuts

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

The UK Government’s Growth Plan 2022 – Eight Key Takeaways

Vinson & Elkins LLP on 9/26/2022

Against a backdrop of rising inflation and increasing concern about a “cost of living crisis” in the UK, the newly appointed Chancellor, Kwasi Kwarteng, laid out the Government’s plans for growing the UK economy in his...more

Wealth Management Update - August 2021

Proskauer Rose LLP on 8/30/2021

Federal interest rates were largely stable in August of 2021.The August applicable federal rate ("AFR") for use with a sale to a defective grantor trust, self-canceling installment note ("SCIN") or intra-family loan with a...more

Coronavirus: The Hill and the Headlines, March 2021 # 13

Hogan Lovells on 3/18/2021

In Washington: The Internal Revenue Service (IRS) is planning to extend the tax-filing deadline to mid-May, according to two top House Democrats. A news release Wednesday from House Ways and Means Committee Chairman Richard...more

House Votes Today on ‘Tax Reform 2.0,’ But Senate Action Unlikely Before Elections

BakerHostetler on 9/28/2018

The House today is likely to approve legislation to make permanent the individual and small-business tax cuts that Congress enacted in 2017, but the Senate won’t consider the measure before the November midterm elections....more

Tax Reform 2.0: Bills, Bills, Bills

McGuireWoods Consulting on 9/11/2018

The House Ways and Means Committee today released three bills as part of Tax Reform 2.0: - 1. H.R. 6760 – Protecting Family and Small Business Tax Cuts Act, a bill addressing the individual and small business tax cuts...more

Coming Soon: Tax Cuts 2.0

McGuireWoods LLP on 7/24/2018

Ways and Means Chairman Kevin Brady (R-TX) will release an outline for Tax Cuts 2.0 before the House departs for August recess this week. House GOP tax writers are meeting again today before the rollout....more

Utah Legislative Update: 2018 - Part Two

Holland & Hart LLP on 2/27/2018

Mid-Way Point of the Utah Session: We are at the mid-way point of the Utah Legislative Session. The pace of work increases and each day gets longer the closer we get to the midnight finish on the 45th day of the session....more

The Tax Cuts and Jobs Act Meets Public Company Reporting

Cohen & Gresser LLP on 1/2/2018

Accounting for income taxes can be complex and is seldom exciting. Suspense was added, however, by the passage of the Tax Cuts and Jobs Act shortly before year end 2017. Would public companies have enough time to analyze the...more

Tax Cut and Jobs Act Changes Will Impact Tax Exempt Organizations

Stinson LLP on 12/29/2017

Charitable organizations no doubt have questions following the passage of the Tax Cut and Job Changes Act. Many are rightly concerned about the impact of the increased estate tax exemption amounts, the expanded standard...more

Tax Reform Advisory: International Provisions

Goulston & Storrs PC on 12/29/2017

On December 22, 2017, the President signed into law H.R. 1, informally known as the “Tax Cuts and Jobs Act” (the “Act”), implementing sweeping changes to the United States tax regimes generally applicable to businesses. ...more

Proposed Tax Legislation - Highlights for Investment Funds

Dechert LLP on 12/20/2017

The final version of the proposed Tax Cuts and Jobs Act (the “Act”) was released on December 15, 2017. This legislation, unless amended again, is expected to be voted on this week in the U.S. House of Representatives and the...more

House and Senate Tax Reform Proposals Diverge on Energy Provisions

Holland & Knight LLP on 11/17/2017

On November 2, House Republicans introduced H.R. 1, the Tax Cuts and Jobs Act. Senate Republicans followed suit shortly thereafter, releasing their proposal on November 9. The House Ways & Means Committee concluded its markup...more

Tax Cuts and Jobs Act

Akin Gump Strauss Hauer & Feld LLP on 11/10/2017

On November 2, 2017, the Committee on Ways and Means of the U.S. House of Representatives released its tax reform bill titled the Tax Cuts and Jobs Act (the “House Bill”). On November 6, 2017, Kevin Brady, Chairman of the...more

Carried Interest and Other Tax Reform Highlights for Investment Funds and Asset Managers

Akin Gump Strauss Hauer & Feld LLP on 11/8/2017

• Significant corporate and potential individual tax rate reductions and a 25% individual tax rate on certain “qualified business income” would be introduced (although many fund investors and sponsors would not be eligible...more

The Tax Cuts and Jobs Act

McNees Wallace & Nurick LLC on 11/7/2017

On November 2, 2017 Representative Kevin Brady, chair of the House Ways and Means Committee, introduced the “Tax Cuts and Jobs Act” (the “Act”). In general, there are a few noteworthy observations regarding the Act. First,...more

Private Equity and Other Carried Interest Funds – Federal Tax Policy Tip Sheet: Issue 2

Holland & Knight LLP on 11/3/2017

House GOP leaders on Thursday, Nov. 2, released their anticipated tax-reform proposal. Entitled the "Tax Cuts and Jobs Act," the House Bill includes several proposed changes to the corporate and individual tax system....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

Under the Dome: Inside the Maine State House

Pierce Atwood LLP on 2/5/2016

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Legislature Delays Passage of a Tax Conformity Bill - The Appropriations Committee worked on...more

Highlights from the recently proposed Tax Reform Plan

Poyner Spruill LLP on 7/18/2013

Monday evening, Governor McCrory and Republicans in the House and Senate released a tax reform plan under the Proposed Conference Committee Substitute to House Bill 998. Tuesday in both House and Senate chambers the Proposed...more

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Income Taxes › Tax Cuts

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