News & Analysis as of

Tax Reform

Georgia Proposes Response to Federal Tax Reform

by Alston & Bird on

Almost two months since the President signed the Tax Cuts and Jobs Act (TCJA) into law, state legislators across the country are still evaluating the federal tax law’s effects on state revenues and whether to amend state law...more

FERC Comes Under Pressure to Reduce Pipeline and Other Regulated Rates to Reflect Changes in the Corporate Income Tax Rate

by King & Spalding on

Late last year, Congress passed the Tax Cuts and Jobs Act of 2017, which the President signed into law on December 22, 2017. A central feature of the Act is the reduction of the maximum corporate income tax rate from 35% to...more

Iowa Statehouse Report - First Funnel Week

by Davis Brown Law Firm on

This week concluded the first legislative “funnel” in which all policy bills must be out of at least one committee by Friday, February 16 to be “alive” until the next funnel. The focus was squarely on subcommittee and...more

Bracewell Tax Report: Week of February 12

by Bracewell LLP on

The Tax Cuts and Jobs Act (TCJA) effected sweeping reform across the Internal Revenue Code. This report, and future installments, will discuss this legislation and other important tax guidance, including how such authorities...more

Tax Cuts and Jobs Act Effect on ABLE Accounts and 529 Funds

by Bowditch & Dewey on

Based on changes implemented by the Tax Cuts and Jobs Act, this is an update on a previous post written by Eileen Y. Lee Breger in May 2017, “Families Can Use a Tax-Advantaged ABLE Account to Save for Disability...more

Impacts of Tax Reform on a Company's Financial Statement

by Bryan Cave on

Recent tax legislation, generally referred to as the Tax Cuts and Jobs Act (the “Act”), will have a significant impact on financial statement reporting. The Act was signed into law on December 22, 2017, and the financial...more

[Webinar] 2017 Tax Act Update: Most Impactful Tax Reform for Plan Sponsors in Decades - March 1st, 10:00am PT

by Davis Wright Tremaine LLP on

On Friday, December 22, 2017, the 1,100-page tax bill was signed into law. The bill promises to bring about the most impactful tax reform that plan sponsors and their advisors have seen in decades. Join Davis Wright Tremaine...more

Connecticut Responds to the Federal Repatriation Tax

by McDermott Will & Emery on

Earlier this month, Connecticut Governor Dan Malloy released his Governor’s Bill addressing the various state tax implications of the federal tax reform bill enacted by Congress in December 2017, commonly referred to as the...more

Is the New Employer Tax Credit for You?

by FordHarrison on

Under the Internal Revenue Code of 1986, as amended (the “Code”), businesses are entitled to a general business credit which is made up of several component credits, including the Work Opportunity Credit, the Indian...more

New Opportunity: Make Sure Your Communities Are Included

by Butler Snow LLP on

The 2017 Tax Cuts and Jobs Act, enacted December 22, 2017, offers a new tax incentive for the benefit of low-income communities with the creation of qualified opportunity zones. It is anticipated that the qualified...more

Taxing Decisions: New Rules on Deductions and Credits in the Employment Context

by Conn Maciel Carey LLP on

As many individuals turn their attention to preparing and filing their tax returns on or before April 15, there are two notable changes to the tax code of which employers should take note. These changes, tucked away in the...more

Nomination Portal for Opportunity Zone Designations Now Open

by Butler Snow LLP on

The Tax Cuts and Jobs Act of 2017 established Opportunity Zones as a new tool for community development which provides tax incentives to help unlock investor capital to fund businesses in underserved communities. Pursuant to...more

Inexplicably, Section 956 Survives Tax Reform Intact

by Alston & Bird on

How did a section of the Internal Revenue Code destined for repeal by both the House and Senate versions of the Tax Cuts and Jobs Act survive the final Act? Our International Tax Group examines the future application of...more

Tax Cuts and Jobs Act of 2017 Brings New Complexity to Compensating Employees of Tax-Exempt Organizations

?Deferred compensation arrangements maintained by tax-exempt organizations must already comply with certain provisions of the Internal Revenue Code of 1986, as amended (“Code”), including the deferred compensation rules under...more

The Pennsylvania Malt Beverage Tax Credit Program

A taxpayer that is a manufacturer of malt or brewed beverages may submit an application for tax credits against the malt beverage tax imposed under Article XX of the Tax Reform Code for investment in qualified capital...more

Divorce is Taxing: The Effect of Recent Tax Laws on Divorcing Parties

by Bowditch & Dewey on

Not only is divorce emotionally draining, the tax ramifications of recently passed tax laws will have a direct and adverse effect on divorcing parties. Tax reform will substantially alter the award of alimony in...more

A Primer on the New Federal Qualified Opportunity Zone Provisions*

by Butler Snow LLP on

For many years, the Internal Revenue Code has provided various incentives aimed at encouraging economic development and investments in low-income and/or distressed communities by providing certain tax benefits to businesses...more

Government Initiatives in Response to Wave of Harassment Allegations Challenges Manufacturers

Two recent developments, generated from the tidal forces of the #MeToo movement should get manufacturers’ attention. On December 22, 2017, Congress adopted a comprehensive tax reform law. Included in the statute is an...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Nordstrom’s doing what it can to fight the seemingly inevitable decline of many retailers in the face of online competition. The family-run company has been revamping stores, amassing e-commerce companies, and launching new...more

Tax Cut and Jobs Act Brings Important Changes to NOL Rules

The Tax Cut and Jobs Act made several important changes to the net operating loss (“NOL”) rules. The following is a brief discussion of these changes. Businesses that generate significant NOLs, such as real estate companies...more

Dramatic Change to Federal Estate, Gift and Generation-Skipping Tax Exemptions

• Each individual’s exemptions from federal estate, gift and GST taxes have roughly doubled to approximately $11,200,000 • The increased exemptions are available only temporarily, through 2025 • We recommend that you...more

Tax Reform Brings New Interest Expense Limitation

The Tax Cut and Jobs Act introduced a new rule limiting a businesses ability to deduct interest expense, which can have a significant impact in the senior living area as facilities often are acquired or built using debt....more

Elective Tax Deferral for Non-Publicly Traded Company Equity Grants

by Goodwin on

As noted in our alert on December 21, 2017, the Tax Cuts and Jobs Act provides an opportunity to defer taxation of certain equity awards under the new Section 83(i) of the Internal Revenue Code of 1986, as amended. Until the...more

Private equity investments

by Ropes & Gray LLP on

Neill Jakobe, Ropes & Gray private equity partner and managing partner of the firm’s Chicago office, discusses some of the key trends impacting private equity investments. --------- Some of the key trends we're seeing in...more

Gold Dome Report - February 2018 #7

Tax reform came to Georgia today with Governor Nathan Deal announcing the State’s response to last year’s federal tax reform. HB 918, carried by Deal’s floor leader Rep. Chuck Efstration (R-Dacula), allows Georgia taxpayers...more

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