Inside DC: Highlights and Implications of the FY 2022 Budget
States Sue SEC in Ongoing Fight Over Reg BI
Episode 26: Talking Tax Reform and Executive Comp
Hodgson Russ's Tim Noonon on the Groundbreaking New York Residency Tax Case Gaied v. NYS Tax Appeals Tribunal
California Governor Gavin Newsom released the “May Revision” to the state budget on Friday. The May Revision, or “May Revise,” takes into account actual state revenues collected through April....more
The City of Pittsburgh, in an attempt to stem the tide of collapsing real estate tax revenues from downtown Pittsburgh commercial properties, is on the verge of passing an ordinance creating a tax exemption authorized by...more
Last Monday, the New York City Council released its response to the Mayor’s FY25 Preliminary Budget. The response identifies $6.15B in newly available funds, citing higher-than-expected tax revenue from both the current and...more
The District of Columbia’s office market, particularly Class B and C properties, is facing a calamity of epic proportions with occupancy, revenues, and valuations plummeting. Like other municipalities facing similar office...more
While Ohio municipalities generally do not rely on voted ad valorem property taxes as a primary source of funding, such taxes can serve as a useful part of a municipality’s revenue base, and state law, principally in Ohio...more
As a result of the 2023 valuation update, several counties have requested all jurisdictions, including school districts, to voluntarily give back millage to reverse the impact of inflationary increases on collections,...more
There Has Been Little Movement in Federal Legalization. This has led to cannabis investors and companies to downgrade expectations for federal legalization and focus their strategies on state reform. Federal lawmakers...more
Summary: The Texas Legislature enacted four bills that 1) expand the list of cities that can build qualified projects (i.e., hotel and convention center projects subject to certain specifications) under Texas Tax Code Chapter...more
Tax policy is an interesting animal and odd results occur whenever non-tax people get involved in developing tax policy. Oregon Governor Tina Kotek and the Oregon Liquor and Cannabis Commission (OLCC) are jumping into the tax...more
Lately I’ve been thinking about the many ways by which members of the public transfer funds to government and the many reasons for which such transfers are made. After all, we’re still in the “season of giving.”...more
Legal sports gaming is coming to Ohio on January 1, 2023. Thanks to the law signed by Governor Mike DeWine (HB 29) last year, which legalized and set forth the regulatory framework for sports gaming, Ohioans will be...more
Throughout the country, large municipalities are laboratories of democracy. New and innovative policies introduced in one market are often exported to others, and ultimately replicated at the state and federal level. This...more
Last month, the New York State Division of the Budget released an updated economic forecast (First Quarterly Update to the FY 2023 Enacted Budget Financial Plan), which revises the State’s financial outlook over the next...more
When is a tax statute so poorly worded that it violates due process by being unconstitutionally vague and failing to give taxpayers fair notice of their compliance obligations? On August 5, 2022, the Alaska Supreme Court...more
For the first time since adult-use legalization in Massachusetts, the Massachusetts Legislature voted to pass marijuana reform legislation that will impact the cannabis industry across the Commonwealth in significant ways,...more
The HSB Economic Development team published their June 2022 news update, highlighting the following topics: Big Changes to South Carolina Property Taxes and Incentives- The big political news in South Carolina this June...more
After years of debate, Rhode Island's General Assembly voted to legalize adult-use cannabis on May 24, 2022. Governor Daniel McKee signed "The Rhode Island Cannabis Act" into law on May 25, making The Ocean State the 19th to...more
On December 3, 2021, the Maryland Comptroller published notice of its adoption of the digital advertising gross revenues tax regulations (which was originally proposed on October 8, 2021). Per the Maryland Administrative...more
On August 19, 2021, the New Jersey Cannabis Regulatory Commission (CRC) approved the Specially Adopted Personal Use Cannabis Rules (the “Rules”). The Rules will be effective until at least August 19, 2022. The Rules...more
DC Business & Policy Practice Group Leader Jon Bouker speaks with Co-Leader David Grosso and Senior Government Relations Director Oliver Spurgeon about what you can expect from the DC budget process during this historic year....more
The Marijuana Regulation & Taxation Act (the “Act”) was signed into law by Governor Andrew Cuomo on March 31, 2021. Not only does the Act create the foundation for the adult-use marijuana program, it contains sweeping changes...more
In case you missed it, Maryland became the first state back in February to pass a digital advertising services tax into law (and over the governor’s veto no less). The law, titled Digital Advertising Gross Revenues Tax, is...more
In early March, New York State Attorney General Letitia James and New York City Corporation Counsel John E. Johnson announced a $105 million settlement against a hedge fund manager for tax evasion. The New York authorities...more
It’s been an eventful week for the marijuana industry. After years of false starts, New York legalized the use of recreational marijuana on March 31 - just hours later, New Mexico legislators passed a bill to do the same....more
During the 2021 legislative session, the Georgia General Assembly passed key legislation, including conformity to the federal tax law, the elimination of deference to subregulatory interpretations of the Department of...more