Perrigo Tax Based On Realized Receipts, Ohio Board Says
Perrigo owes Ohio tax only on the net price it received for its pharmaceutical products, not on the price that was listed but which the manufacturer never realized, the state Board of Tax Appeals said Thursday.
Hospice Co. Can't Get $450K In Deductions, Tax Court Affirms
A California-based hospice company was correctly denied $450,000 in tax deductions, the U.S. Tax Court decided Thursday, saying most of the tax breaks were not substantiated as required.
EU Parliament Backs Call For Simpler Tax Rules
The European Union's executive branch should simplify its tax rules, including those for cross-border tax refunds, to boost growth across the bloc, according to a report approved by the European Parliament on Thursday.
Perrigo Tax Based On Realized Receipts, Ohio Board Says
Perrigo owes Ohio tax only on the net price it received for its pharmaceutical products, not on the price that was listed but which the manufacturer never realized, the state Board of Tax Appeals said Thursday.
Hospice Co. Can't Get $450K In Deductions, Tax Court Affirms
A California-based hospice company was correctly denied $450,000 in tax deductions, the U.S. Tax Court decided Thursday, saying most of the tax breaks were not substantiated as required.
EU Parliament Backs Call For Simpler Tax Rules
The European Union's executive branch should simplify its tax rules, including those for cross-border tax refunds, to boost growth across the bloc, according to a report approved by the European Parliament on Thursday.
Federal More
Several Senate Democrats and one Republican introduced legislation Thursday to eliminate the national emergency associated with President Donald Trump's so-called reciprocal tariff regime.
A Bulgarian businessman whose U.S. assets were frozen after the federal government accused him of bribery and tax evasion asked a D.C. federal court to force the U.S. to rule on his administrative challenge to... (more story)
Painting trains me to see both the fine detail and the whole composition at once, enabling me to identify friction points while keeping sight of a client's bigger vision, but the most significant lesson I've b... (more story)
Either President Donald Trump doesn't have authority to impose tariffs under the International Emergency Economic Powers Act, or the law is unconstitutional, the nonprofit group Consumer Watchdog told the U.S.... (more story)
The Senate Finance Committee approved President Donald Trump's nomination of a Sullivan & Cromwell attorney to be general counsel of the Internal Revenue Service, the nearly party-line vote Wednesday setting u... (more story)
A Miami lobbyist who was sentenced to prison for evading more than $1 million in taxes should not be allowed to delay the start of his term, the U.S. told a Florida federal court, saying the medical injection ... (more story)
Reed Smith is expanding its tax practice with the return of an experienced attorney, now based in Denver, with multistate experience in the full spectrum of tax issues.
State & Local More
Whirlpool Loses $15.8M Ohio Refund Bid Over Temp Workers
Whirlpool purchased taxable employment services when it hired contractors from a staffing firm and the company owes $15.8 million in Ohio use tax, the state board of tax appeals ruled.
Cruise Cos. Say Tax Injunction Act Doesn't Bar Hawaii Suit
A group of cruise companies should be allowed to proceed with their complaint against the state of Hawaii for an extension of a transient occupancy tax to cruise passengers, the companies told a federal distri... (more story)
NY Tax Reg Doesn't Conflict With PL 86-272, State Tells Panel
A New York regulation that outlines when out-of-state businesses' online activities can render them subject to tax doesn't conflict with a federal law's constraints on states' taxing powers, the state's tax ag... (more story)
Vape Cos. And Sellers Urge 4th Circ. To Block NC Regulation
A group of vaping interests is defending its bid to block enforcement of a new North Carolina law regulating the sale of e-cigarettes, saying the state is wrong to argue that the law is not preempted by federal law.
Protecting Sensitive Court Filings After Recent Cyber Breach
In the wake of a recent cyberattack on federal courts' Case Management/Electronic Case Files system, civil litigants should consider seeking enhanced protections for sensitive materials filed under seal to mit... (more story)
Investor Claim Cannabis Co. Seller Hid $16M In Unpaid Taxes
California cannabis company Prime Harvest Inc. claims it was fraudulently induced into buying a cannabis distribution business that was saddled with $16 million in unpaid taxes, asking a state court to force t... (more story)
Mich. Lawmakers OK Fed. Code Decoupling, New Pot Tax
Michigan is slated to decouple from certain business-friendly provisions in this year's federal tax bill and impose a new excise tax on the wholesale price of cannabis under a budget plan approved by state lawmakers Friday.
COST Decries Massachusetts Foreign-Source Income Tax Plan
A Massachusetts proposal supporters said would fight offshore corporate tax avoidance and raise $400 billion annually would violate the U.S. Constitution and place the state at odds with other jurisdictions, t... (more story)
Airline Group Raises Concerns With Updates To MTC Rule
A Multistate Tax Commission proposal to update a decades-old sourcing regulation for airlines to account for business practices that didn't exist when the rule was adopted could unnecessarily complicate how ai... (more story)
Whirlpool purchased taxable employment services when it hired contractors from a staffing firm and the company owes $15.8 million in Ohio use tax, the state board of tax appeals ruled.
A group of cruise companies should be allowed to proceed with their complaint against the state of Hawaii for an extension of a transient occupancy tax to cruise passengers, the companies told a federal distri... (more story)
A New York regulation that outlines when out-of-state businesses' online activities can render them subject to tax doesn't conflict with a federal law's constraints on states' taxing powers, the state's tax ag... (more story)
A group of vaping interests is defending its bid to block enforcement of a new North Carolina law regulating the sale of e-cigarettes, saying the state is wrong to argue that the law is not preempted by federal law.
In the wake of a recent cyberattack on federal courts' Case Management/Electronic Case Files system, civil litigants should consider seeking enhanced protections for sensitive materials filed under seal to mit... (more story)
California cannabis company Prime Harvest Inc. claims it was fraudulently induced into buying a cannabis distribution business that was saddled with $16 million in unpaid taxes, asking a state court to force t... (more story)
Michigan is slated to decouple from certain business-friendly provisions in this year's federal tax bill and impose a new excise tax on the wholesale price of cannabis under a budget plan approved by state lawmakers Friday.
A Massachusetts proposal supporters said would fight offshore corporate tax avoidance and raise $400 billion annually would violate the U.S. Constitution and place the state at odds with other jurisdictions, t... (more story)
A Multistate Tax Commission proposal to update a decades-old sourcing regulation for airlines to account for business practices that didn't exist when the rule was adopted could unnecessarily complicate how ai... (more story)
International More
EU Should Tax Super-Rich's' €405B Windfall, Oxfam Says
The European Union should implement a wealth tax to target the combined €405 billion ($471 billion) the super-rich made in the first six months of the year, charity Oxfam said in a report published Wednesday.
Tobacco Co. Made Timely Tax Refund Claims, UK Court Rules
A British tobacco company didn't wait too long to seek repayment of taxes it mistakenly paid on foreign dividends, a U.K. appeals court ruled Wednesday, rejecting HM Revenue & Customs' contention that the clai... (more story)
Charity Gifts In Wills Hit £1B As Estates Swerve Tax Bills
The value of charitable gifts left in people's wills climbed to £980 million ($1.3 billion) in the last financial year to April, as more Britons used philanthropy to reduce inheritance tax bills, London law fi... (more story)
11th Circ. Wary Of IRS Procedure In FBAR Penalty Appeal
An Eleventh Circuit panel Tuesday appeared concerned about IRS procedures that could keep a man from recouping $419,000 he paid to resolve his failure to disclose funds held in foreign bank accounts as he appe... (more story)
Senate OKs Top Treasury Atty Pick In Slate Of Confirmations
The Senate approved President Donald Trump's choice of a Sidley Austin LLP partner to be general counsel of the U.S. Department of the Treasury on Tuesday as part of a combined confirmation of 108 nominees to various roles.
German States Vote Against Suspending Global Minimum Tax
A majority of Germany's states voted against a motion to suspend the 15% global minimum tax while the international community is resolving a U.S. proposal to exempt American companies from most of the system, ... (more story)
IRS Cyber Crime Executive Named Interim Compliance Chief
An Internal Revenue Service criminal investigations executive who founded the division's cyber crimes sections will temporarily take on an elevated role overseeing all agency enforcement operations, the IRS announced Monday.
The European Union should implement a wealth tax to target the combined €405 billion ($471 billion) the super-rich made in the first six months of the year, charity Oxfam said in a report published Wednesday.
A British tobacco company didn't wait too long to seek repayment of taxes it mistakenly paid on foreign dividends, a U.K. appeals court ruled Wednesday, rejecting HM Revenue & Customs' contention that the clai... (more story)
The value of charitable gifts left in people's wills climbed to £980 million ($1.3 billion) in the last financial year to April, as more Britons used philanthropy to reduce inheritance tax bills, London law fi... (more story)
An Eleventh Circuit panel Tuesday appeared concerned about IRS procedures that could keep a man from recouping $419,000 he paid to resolve his failure to disclose funds held in foreign bank accounts as he appe... (more story)
The Senate approved President Donald Trump's choice of a Sidley Austin LLP partner to be general counsel of the U.S. Department of the Treasury on Tuesday as part of a combined confirmation of 108 nominees to various roles.
A majority of Germany's states voted against a motion to suspend the 15% global minimum tax while the international community is resolving a U.S. proposal to exempt American companies from most of the system, ... (more story)
An Internal Revenue Service criminal investigations executive who founded the division's cyber crimes sections will temporarily take on an elevated role overseeing all agency enforcement operations, the IRS announced Monday.