News & Analysis as of

Tax Credits Proposed Amendments

ArentFox Schiff

Because . . . We Said So: Congressional Taxwriters Propose Tax Deal Including Significant Modifications to Employee Retention...

ArentFox Schiff on

Yesterday, the chairmen of the Senate Finance Committee and the House Ways and Means Committee introduced The Tax Relief for American Families and Workers Act of 2024 (the Act), which proposes changes to the child tax credit,...more

DarrowEverett LLP

Potential Changes Threaten Estate Planning Strategies, Create Urgency to Act

DarrowEverett LLP on

Actor Will Rogers is widely credited with stating that “the only difference between death and taxes is that death doesn’t get worse every time Congress meets.” While most taxpayers fear tax laws changing for the worse, estate...more

Husch Blackwell LLP

Decoupling of Section 280E from State Tax Codes

Husch Blackwell LLP on

On May 18, 2022, in a 153-2 vote, the Massachusetts House of Representatives voted to amend the state’s tax code to provide income tax relief for Massachusetts cannabis businesses. ...more

Kramer Levin Naftalis & Frankel LLP

The New York State Brownfield Cleanup Program and Brownfield Opportunity Area Program: Budget Update and Proposed Amendments

Gov. Kathy Hochul released proposed amendments to both the Brownfield Cleanup Program (BCP) and the Brownfield Opportunity Area (BOA) Program this week, in connection with her FY 2023 Executive Budget proposal. The proposal...more

Ervin Cohen & Jessup LLP

Federal Food Bills - Proposed Changes for the Food Industry

During the first quarter of 2021, various federal bills were introduced which impact the food industry. This article provides a primer on some of these bills and their potential impact on the food industry....more

Brownstein Hyatt Farber Schreck

House Ways and Means Advances Three Bills

Committee Unanimously Passes Retirement, Tax Administration and Reemployment Services Legislation - On April 2, the House Ways and Means Committee convened to markup retirement, tax administration and reemployment services...more

Burr & Forman

Tax Reform Proposal Nixes Favorable Tax Treatment of Several Employee Benefits

Burr & Forman on

On November 3, 2017, House Ways and Means Committee Chairman Brody began the legislative consideration of Tax Reform by releasing an amendment (in the nature of a substitute) to the Tax Reform and Jobs Act (H.R. 1 hereinafter...more

BakerHostetler

Historic and New Markets Tax Credits At Risk Under Current House Tax Reform Proposal

BakerHostetler on

On Nov. 2, the House Ways and Means Committee released draft statutory text (the "Bill") of the proposed Tax Cuts and Jobs Act (the "Act"), the long-awaited Republican tax reform bill. On Friday, Nov. 3, Kevin Brady, Chairman...more

McDermott Will & Emery

Tax Highlights of Proposed Illinois “Grand Bargain”

McDermott Will & Emery on

In an effort to resolve Illinois’ 20-month budget impasse, the Illinois Senate leadership (Senate Majority Leader John Cullerton and Senate Minority Leader Christine Rodogno) have jointly proposed a series of bills to...more

Morrison & Foerster LLP

MoFo New York Tax Insights - Volume 6, Issue 10

State Tax Department Releases Draft Article 9-A Nexus Regulations Under Corporate Tax Reform - The New York State Department of Taxation and Finance has released draft amendments to the Article 9-A corporate franchise...more

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