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UK Gov't Insists No Change For Businesses On US Tariffs
The U.K. government said Friday that there is no change in tariffs following the U.S. administration's decision this week to impose widespread duties after the expiration of a temporary global duty regime, as the trade deal allowing 10% tariffs between the two countries still holds.
Neb. Tax Dept. Ordered By Court To Rethink Apple's Tax Bill
The Nebraska Department of Revenue must find another apportionment method when determining Apple's corporate income tax liability because it improperly considered the company's foreign earnings to boost that tax bill, a state court ruled.
US To Impose Widespread Tariffs As Temporary Duties Expire
Tariffs covering most imports into the U.S. at 10% and 12.5% will take effect Friday as President Donald Trump's temporary global duty expires, the Office of the U.S. Trade Representative announced Thursday.
UK Gov't Insists No Change For Businesses On US Tariffs
The U.K. government said Friday that there is no change in tariffs following the U.S. administration's decision this week to impose widespread duties after the expiration of a temporary global duty regime, as the trade deal allowing 10% tariffs between the two countries still holds.
Neb. Tax Dept. Ordered By Court To Rethink Apple's Tax Bill
The Nebraska Department of Revenue must find another apportionment method when determining Apple's corporate income tax liability because it improperly considered the company's foreign earnings to boost that tax bill, a state court ruled.
US To Impose Widespread Tariffs As Temporary Duties Expire
Tariffs covering most imports into the U.S. at 10% and 12.5% will take effect Friday as President Donald Trump's temporary global duty expires, the Office of the U.S. Trade Representative announced Thursday.
Federal More
In this week's Taxation With Representation, Brookfield Asset Management acquires Aypa Power from funds managed by Blackstone Energy Transition Partners, Brookfield and Canada Pension Plan Investment Board buy... (more story)
The Internal Revenue Service will waive a filing requirement for tax-exempt national soccer associations that participated in this year's FIFA World Cup if they lack income connected to the U.S. other than pri... (more story)
The casual dining chain TGI Friday's Inc. on Thursday won approval of its Chapter 11 liquidation plan to offload its remaining assets and eventually distribute them through a trust, after creditors voted overw... (more story)
A staffing and recruiting company asked a Texas federal court for an employee retention tax credit refund of nearly $570,000, which the company said it timely claimed but remains unpaid by the IRS.
A customer of Kate Hudson's activewear business Fabletics has dropped her claim for refunds of global tariffs she alleged the actress's company passed on to customers before the U.S. Supreme Court found them illegal.
The U.S. will allocate a large portion of its fiscal 2027 tariff rate quotas for refined sugar products and certain sugar-containing goods to Canada, according to a notice published Wednesday by the office of ... (more story)
A Georgia partnership told the U.S. Tax Court that the IRS erred in denying its $53.9 million deduction for 243 acres donated to a conservation group in 2021, citing an exploration report that said the land co... (more story)
State & Local More
Ensuring Eligibility For Data Center Sales Tax Breaks
As states compete to lure data centers, sales tax exemptions are an important component of many incentive packages — but companies must ensure that projects not only qualify for exemptions on paper, but also c... (more story)
Fighting The Good Fight Against A Bad Rule: SALT In Review
From a continuing challenge to a New York regulation on interstate commerce to Washington state voters' chance to repeal a tax on millionaires, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Inside Differing State Approaches To Prediction Market Taxes
As states adopt divergent approaches to prediction market platforms through both legislation and litigation, and the landscape is anything but settled, the emerging patchwork of state taxes on prediction marke... (more story)
NY Panel Rejects Paychex Challenge To Apportionment Rules
Paychex can't proceed in state court with claims against New York tax rules that pertain to certain expense reimbursements to professional employer organizations, an appeals court ruled Thursday, saying it mus... (more story)
Mass. Court Affirms License Loss In Lotto Ticket Scheme
An intermediate appellate court in Massachusetts on Wednesday affirmed the permanent revocation of lottery sales licenses for two convenience store owners who allegedly played significant roles in a scheme to ... (more story)
Illinois Crypto Tax Unfairly Targets Traders, Suit Says
Illinois' new tax on cryptocurrency, the first in the nation, discriminates against those who trade in crypto and is illegal, a trade group argued in a complaint in a state court.
Mo. Historic Tax Credits Aren't Earned Income, Court Affirms
Historic tax credits received for rehabilitating a Missouri building are not considered income subject to St. Louis' earned income tax, a state appeals court affirmed.
As states compete to lure data centers, sales tax exemptions are an important component of many incentive packages — but companies must ensure that projects not only qualify for exemptions on paper, but also c... (more story)
From a continuing challenge to a New York regulation on interstate commerce to Washington state voters' chance to repeal a tax on millionaires, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
As states adopt divergent approaches to prediction market platforms through both legislation and litigation, and the landscape is anything but settled, the emerging patchwork of state taxes on prediction marke... (more story)
Paychex can't proceed in state court with claims against New York tax rules that pertain to certain expense reimbursements to professional employer organizations, an appeals court ruled Thursday, saying it mus... (more story)
An intermediate appellate court in Massachusetts on Wednesday affirmed the permanent revocation of lottery sales licenses for two convenience store owners who allegedly played significant roles in a scheme to ... (more story)
Illinois' new tax on cryptocurrency, the first in the nation, discriminates against those who trade in crypto and is illegal, a trade group argued in a complaint in a state court.
Historic tax credits received for rehabilitating a Missouri building are not considered income subject to St. Louis' earned income tax, a state appeals court affirmed.
International More
DVLA Accused Of Defying Ban To Seal £133M Egis Contract
A debt collector told a London court Friday that the Driver and Vehicle Licensing Agency awarded a £133 million ($177 million) vehicle tax enforcement contract to rival Egis despite a procurement challenge tha... (more story)
Local Councils Object To Administering UK Mansion Tax
Local authorities should not have to administer the U.K. government's mansion tax targeting expensive properties because it will damage local accountability and confuse residents over who is responsible for th... (more story)
Author Trust Royalties Are Capital, Not Income, UK Court Says
Royalty payments accrued in a family trust for the grandchildren of the author of the "Thomas the Tank Engine" books should be considered capital for trust law purposes instead of income, a London court found,... (more story)
Owner Of Dissolved UK Biz Allowed To Fight Capital Gains Tax
A London court declined to toss a taxpayer's challenge to a capital gains tax bill on a £1.6 million ($2.1 million) payout he made before liquidating his company, while dismissing his claims of double taxation... (more story)
House Panel OKs Limits, Reporting For Tax-Exempt Orgs
The House Ways and Means Committee passed several bills Wednesday that would impose limits and reporting requirements on tax-exempt organizations, including legislation to require those organizations to report... (more story)
Feds Ask Wash. Judge To Back Canadian's $700K FBAR Fines
A Canadian man living in the United States should remain on the hook for more than $700,000 in penalties for failing to report foreign bank accounts, the U.S. government told a Washington federal court, arguin... (more story)
Trump's Expiring Global Tariff Is Valid, US Tells Fed. Circ.
President Donald Trump's temporary global tariff is lawfully authorized under a statute allowing the executive branch to address serious balance-of-payment deficits, a term that can easily be construed to incl... (more story)
A debt collector told a London court Friday that the Driver and Vehicle Licensing Agency awarded a £133 million ($177 million) vehicle tax enforcement contract to rival Egis despite a procurement challenge tha... (more story)
Local authorities should not have to administer the U.K. government's mansion tax targeting expensive properties because it will damage local accountability and confuse residents over who is responsible for th... (more story)
Royalty payments accrued in a family trust for the grandchildren of the author of the "Thomas the Tank Engine" books should be considered capital for trust law purposes instead of income, a London court found,... (more story)
A London court declined to toss a taxpayer's challenge to a capital gains tax bill on a £1.6 million ($2.1 million) payout he made before liquidating his company, while dismissing his claims of double taxation... (more story)
The House Ways and Means Committee passed several bills Wednesday that would impose limits and reporting requirements on tax-exempt organizations, including legislation to require those organizations to report... (more story)
A Canadian man living in the United States should remain on the hook for more than $700,000 in penalties for failing to report foreign bank accounts, the U.S. government told a Washington federal court, arguin... (more story)
President Donald Trump's temporary global tariff is lawfully authorized under a statute allowing the executive branch to address serious balance-of-payment deficits, a term that can easily be construed to incl... (more story)