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Justices Reject Fla.'s Challenge To Calif. Apportionment Rule
The U.S. Supreme Court declined Monday to weigh Florida's claims that a special apportionment rule in California unconstitutionally discriminates against interstate commerce by penalizing corporations that operate outside California.
State & Local Tax Takeaways From May
From a New York opinion on federal preemption of a state rule to an argument on income-producing activity in South Carolina and a New Hampshire dispute over capital loss carrybacks in a combined group, May was a busy month for state and local tax cases. Here, Law360 looks at these and other highlights from the past month.
Foreign Gov't Income Regs Aren't Retroactive, Treasury Says
The U.S. Treasury Department published guidance Friday clarifying that 2025 proposed rules regarding foreign sovereign wealth fund investment in the U.S. would not apply retroactively to the existing holdings of foreign governments.
Justices Reject Fla.'s Challenge To Calif. Apportionment Rule
The U.S. Supreme Court declined Monday to weigh Florida's claims that a special apportionment rule in California unconstitutionally discriminates against interstate commerce by penalizing corporations that operate outside California.
State & Local Tax Takeaways From May
From a New York opinion on federal preemption of a state rule to an argument on income-producing activity in South Carolina and a New Hampshire dispute over capital loss carrybacks in a combined group, May was a busy month for state and local tax cases. Here, Law360 looks at these and other highlights from the past month.
Foreign Gov't Income Regs Aren't Retroactive, Treasury Says
The U.S. Treasury Department published guidance Friday clarifying that 2025 proposed rules regarding foreign sovereign wealth fund investment in the U.S. would not apply retroactively to the existing holdings of foreign governments.
Federal More
A Tennessee partnership said the IRS was wrong to disallow its charitable deduction of $34.5 million for over 158 acres in Marion County that it donated to a conservation group in 2021.
A Georgia partnership challenged the IRS' disallowance of a $40.1 million deduction for its donation of 352 acres to a nature conservatory in 2021, saying the land provides a natural habitat for two threatened... (more story)
A Florida federal judge ordered the arrest of an expatriate U.S.-German citizen for failing to appear at a hearing to discuss civil sanctions over his failure to pay a nearly $20 million tax judgment for not d... (more story)
A political consultant convicted alongside ex-Florida Rep. David Rivera asked for a new trial Friday, arguing that the government "did not come close to proving" that she was guilty of willfully failing to reg... (more story)
The owner of a blood-testing laboratory was sentenced to more than four years in federal prison after evading $11.2 million in taxes by using an accomplice to illegally collect Medicare reimbursements made to ... (more story)
Battery energy storage systems have become essential infrastructure for data center development — but as trade, energy and tax policies continue to shift, companies operating in this space must understand the ... (more story)
The owner of a Florida renewable fuel company was sentenced to 18 months in prison followed by two years of supervised release for a scheme that generated more than $7 million in fraudulent fuel tax credits, t... (more story)
State & Local More
Conn. Alters Pot Tax, Gives Cities Aid To Cut Property Taxes
Connecticut will change its cannabis tax structure, provide funding to local governments for property tax reductions and make other tax changes under a 2027 budget bill signed by the governor.
$2.6M Refund Denial Yields Confusion, Sunoco Tells NY Court
A New York Tax Tribunal decision prohibiting Sunoco from including its oil sales to third parties intended as inventory exchanges when computing its business activity allocable to New York would result in conf... (more story)
Ohio Justices Reject School Boards' Tax Appeal Claims
An Ohio law that bars school boards from appealing decisions involving valuations of properties they don't own or lease to the state Board of Tax Appeals doesn't allow them to bring those cases to county court... (more story)
Pa. Temporarily Drops Business Income Rule Proposal
A regulation that the Pennsylvania Department of Revenue proposed to outline what constitutes apportionable business income has been rescinded after years of concerns raised by stakeholders.
A Playground Of Unsound Tax Policy: SALT In Review
From the California governor's proposed taxing of software sales to a Minnesota bill that targets executive pay, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
Taxation With Representation: Latham, White & Case, Vischer
In this week's Taxation With Representation, Fertitta Entertainment acquires Caesars Entertainment, Eli Lilly and Co. buys three companies involved in vaccine development, and nuclear energy company Newcleo Lt... (more story)
Your Next Litigation Hold Should Cover AI Chat Logs
The Delaware Chancery Court’s recent decision in Fortis Advisors v. Krafton to treat a CEO’s artificial intelligence chats as substantive evidence is being read as a discovery warning to litigators, but there ... (more story)
Connecticut will change its cannabis tax structure, provide funding to local governments for property tax reductions and make other tax changes under a 2027 budget bill signed by the governor.
A New York Tax Tribunal decision prohibiting Sunoco from including its oil sales to third parties intended as inventory exchanges when computing its business activity allocable to New York would result in conf... (more story)
An Ohio law that bars school boards from appealing decisions involving valuations of properties they don't own or lease to the state Board of Tax Appeals doesn't allow them to bring those cases to county court... (more story)
A regulation that the Pennsylvania Department of Revenue proposed to outline what constitutes apportionable business income has been rescinded after years of concerns raised by stakeholders.
From the California governor's proposed taxing of software sales to a Minnesota bill that targets executive pay, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
In this week's Taxation With Representation, Fertitta Entertainment acquires Caesars Entertainment, Eli Lilly and Co. buys three companies involved in vaccine development, and nuclear energy company Newcleo Lt... (more story)
The Delaware Chancery Court’s recent decision in Fortis Advisors v. Krafton to treat a CEO’s artificial intelligence chats as substantive evidence is being read as a discovery warning to litigators, but there ... (more story)
International More
EU Readies Tax Simplification Package With R&D Allowance
The European Union is preparing a shake-up of its corporate tax rules that could slash compliance costs by €7 billion ($8.15 billion) annually, according to an EU draft proposal seen by Law360 on Monday.
UK Farmers Call For Carbon Tax Break Despite Gov't Denials
A farmers group issued a call Friday for a carbon tax exemption on fertilizer, while the U.K.'s Labour government denied reports that it's holding talks on such a concession on the carbon border regime.
New Zealand Aims To Loosen Tax Rules On Offshore Shares
New Zealand's government aims to loosen tax rules on offshore equity holdings, issue quarterly payments for research and development tax credits, introduce a levy on banks to cover regulatory costs and tighten... (more story)
States Say Fed. Circ. Should Keep Tariff Block During Appeal
The Federal Circuit shouldn't stay an injunction blocking the collection of Section 122 tariffs from two businesses and Washington state while the federal government appeals the trade court ruling because the ... (more story)
HMRC Got £6.3B In Small-Biz, Individual Probes, Data Shows
Britain's tax authority recovered £6.3 billion ($8.4 billion) in extra tax from investigations into small businesses and individuals in 2025, up by around £1 billion in a year, according to data released by an... (more story)
EU Withholds Some Funds From Malta Over Tax Reform Delay
The European Union is holding back €38.17 million ($44.49 million) in support funds for Malta as the Mediterranean archipelago has not yet implemented a reform tackling aggressive tax planning practices, the E... (more story)
Studying Foreign Languages Makes Me A Better Lawyer
Studying Italian and Japanese has shown me that learning a new language can benefit a legal career in several ways, including by demonstrating the importance of approaching problems from a fresh perspective an... (more story)
The European Union is preparing a shake-up of its corporate tax rules that could slash compliance costs by €7 billion ($8.15 billion) annually, according to an EU draft proposal seen by Law360 on Monday.
A farmers group issued a call Friday for a carbon tax exemption on fertilizer, while the U.K.'s Labour government denied reports that it's holding talks on such a concession on the carbon border regime.
New Zealand's government aims to loosen tax rules on offshore equity holdings, issue quarterly payments for research and development tax credits, introduce a levy on banks to cover regulatory costs and tighten... (more story)
The Federal Circuit shouldn't stay an injunction blocking the collection of Section 122 tariffs from two businesses and Washington state while the federal government appeals the trade court ruling because the ... (more story)
Britain's tax authority recovered £6.3 billion ($8.4 billion) in extra tax from investigations into small businesses and individuals in 2025, up by around £1 billion in a year, according to data released by an... (more story)
The European Union is holding back €38.17 million ($44.49 million) in support funds for Malta as the Mediterranean archipelago has not yet implemented a reform tackling aggressive tax planning practices, the E... (more story)
Studying Italian and Japanese has shown me that learning a new language can benefit a legal career in several ways, including by demonstrating the importance of approaching problems from a fresh perspective an... (more story)