News & Analysis as of

Intercompany Transactions

Holland & Knight LLP

Beware: Liberty Global Appeal Puts Basic Tax Planning in Jeopardy

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The Liberty Global Inc. v. United States appeal has practitioners and taxpayers concerned that the economic substance doctrine will be applied to disallow the tax benefits of ordinary course of business decisions and disrupt...more

Rivkin Radler LLP

Intercompany Loan Treated As Constructive Distribution and Contribution

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Heads I Win, . . . - When closely held corporations that are under common control engage in any intercompany transaction, it is prudent for the corporations and their shareholders to ensure that the transaction is being...more

Eversheds Sutherland (US) LLP

MTC revamps its transfer pricing efforts

The Multistate Tax Commission (MTC) held its annual Fall Meetings in Little Rock, Arkansas (Eversheds Sutherland attorneys attended the event, and a full report will be provided). On Thursday, November 17, the MTC's Executive...more

Barnea Jaffa Lande & Co.

District Court: Changing a Business Model after Purchasing Company Shares Does not Always Constitute a Tax Event

In May 2022, the Tel Aviv District Court issued an important ruling in the Medingo Ltd case on the tax aspects of business restructuring. This ruling joins a series of previous rulings, in the Gteko case and the Broadcom...more

Miller Nash LLP

Today in Tax: How to Reduce Transfer Pricing Risks and Tax Penalties in Transactions with Overseas Affiliates

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Intercompany transfer pricing is an IRS enforcement priority, and can result in significant tax liabilities and higher penalties than in many other situations. Federal tax laws provide avenues to reduce or eliminate the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Arm's Length Principle Vs. Implicit Support: What's the Way Forward?

In episode two of "GILTI Conscience," tax partners Nate Carden and David Farhat talk with economist Bram Isgur of Keystone Strategy about the transfer pricing implications for intercompany loans and guarantees. "The stakes...more

BakerHostetler

[Podcast] State Transfer Pricing Update: SITAS is Alive, APAs, and Tax Amnesty

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After a 4 1/2 year hiatus, the Multistate Tax Commission has met to revive the State Intercompany Transactions Advisory Service Committee (SITAS). Matt Hunsaker talks about the committee meeting and other recent happenings in...more

Morgan Lewis

State Revenue Agencies Invest in Transfer Pricing Resources

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A recent disclosure by the Indiana Department of Revenue shows that a trend toward states engaging in transfer pricing in earnest is gaining traction. This shift requires a change in approach to defending intercompany...more

Buckingham, Doolittle & Burroughs, LLC

Ohio Drafts Rule Limiting Retroactive Consolidated Filing Elections

The Ohio Department of Taxation has proposed a regulation change that would prevent taxpayers from making a retroactive consolidated filing election for Ohio Commercial Activity Tax purposes (CAT). The rule change appears to...more

Buckingham, Doolittle & Burroughs, LLC

Taxpayer permitted to correct fatal mistake by retroactively making consolidated election for Ohio commercial activity tax and...

The Ohio Board of Tax Appeals recently allowed a taxpayer to retroactively elect to be taxed as a consolidated taxpayer for Ohio commercial activity tax, even after an audit had commenced. Nissan North America, Inc. v....more

Hogan Lovells

Secondary Transactions: ECI Withholding Amount and Partnership Liabilities

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Proposed regulations have recently been issued by the U.S. Internal Revenue Services (IRS) under a withholding provision of U.S. tax law enacted in 2017 that imposes withholding tax on a non-U.S. person’s sale (or other...more

Kramer Levin Naftalis & Frankel LLP

Fifth Circuit Holds That Creditor Lacks Constitutional Standing to Appeal

The Fifth Circuit in Nustar Energy Services, Inc. v. M/V Cosco Auckland, Case No. 17-20246 (5th Cir. Jan. 14, 2019), recently held that a subcontractor creditor lacked constitutional standing to appeal a lower court’s ruling...more

Latham & Watkins LLP

Cross-Border Financing: Taxpayer Wins on Characterization of Intercompany Debt Transaction

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Certainty regarding characterization of intercompany transactions remains a priority after US tax reform, opinion highlights importance of established pattern of conduct. On August 6, 2018, the US Tax Court decided...more

Patterson Belknap Webb & Tyler LLP

Chapter 15: Decision Reviews Jurisdictional Issues and Bankruptcy Code Section 109

In a recent decision, In re B.C.I Fins. Pty Ltd. (In Liquidation), No. 17-11266, 2018 Bankr. LEXIS 1217 (Bankr. S.D.N.Y. Apr. 24, 2018), Judge Sean Lane granted a chapter 15 petition after rejecting a challenge to...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Russian

ANTICORRUPTION DEVELOPMENTS - Mega International Commercial Bank Co. Ltd. Fined $29 Million - On January 17, 2018, the U.S. Federal Reserve Board assessed Taiwan based bank Mega International Commercial Bank Co. Ltd. a...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - Chinese

ANTICORRUPTION DEVELOPMENTS - Mega International Commercial Bank Co. Ltd. Fined $29 Million - On January 17, 2018, the U.S. Federal Reserve Board assessed Taiwan based bank Mega International Commercial Bank Co. Ltd. a...more

Akin Gump Strauss Hauer & Feld LLP

Red Notice Newsletter - January 2018

ANTICORRUPTION DEVELOPMENTS - Mega International Commercial Bank Co. Ltd. Fined $29 Million - On January 17, 2018, the U.S. Federal Reserve Board assessed Taiwan based bank Mega International Commercial Bank Co. Ltd....more

Morgan Lewis

Impact of New Tax Regulations on Intercompany Debt Obligations

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The final, temporary, and proposed regulations issued by the Internal Revenue Service on October 13 relating to intercompany debt obligations between members of an affiliated group of corporations under Section 385 of the...more

McDermott Will & Emery

Arm’s Length Royalty Rates Save Medtronic from $1.36 Billion Tax Deficiency

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Addressing whether certain intercompany technology license agreements were negotiated at arm’s length, the US Tax Court rejected the Internal Revenue Service’s (IRS’s) alleged $1.36 billion tax deficiency and determined that...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Proposed Treasury Regulations Revolutionize Tax Rules Governing Intercompany Financing Transactions"

Recently proposed Treasury regulations, which will likely be finalized this year, promise to alter the tax treatment of a wide range of intercompany financing transactions dramatically, upending nearly a century of law...more

Eversheds Sutherland (US) LLP

State Tax Fallout From Federal Proposed Related-Party Debt Regulations

Recently proposed Treasury regulations under IRC § 385 (the Proposed Regulations) would create sweeping changes to the federal income tax treatment of related-party debt. The Proposed Regulations could also have far-reaching...more

Williams Mullen

USA FDI News - April 2016

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USA FDI News highlights the FAQs arising from your projects - from how to finance a deal to selecting the right visa or tax strategy and more. We want to keep USA FDI News interactive and relevant to your international...more

Eversheds Sutherland (US) LLP

New York Governor’s Budget Proposes Radical Tax Changes

New York Governor Andrew Cuomo introduced his 2015-2016 budget and accompanying legislation on January 19, 2015 (the 2015 Budget Bill). If enacted, New York’s tax law will be significantly altered for the second time in two...more

Latham & Watkins LLP

Midstream MLP Merger Mania Maintains Momentum

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The market’s notable uptick in MLP-to-MLP M&A activity, often preceded by an acquisition of the target MLP’s general partner, follows a trend we recently identified. At least five MLP M&A transactions have been...more

McDermott Will & Emery

Multistate Taxpayers Take Note! Recap of the First Day of the MTC Pricing Summit

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On October 6, 2014, the Multistate Tax Commission (MTC) held the first day of a two-day meeting intended to educate state revenue authorities on corporate income tax issues surrounding intercompany transactions, and further...more

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