Chicago Mayor Floats Higher Employee Tax on Fewer Companies
Chicago Mayor
Daily Tax Report State
Chicago Mayor Floats Higher Employee Tax on Fewer Companies
Chicago Mayor
Hawaii Cruise Ship Tax Violates Supremacy Clause, US Argues
Hawaii’s environmental tax on cruise ships docking at the state’s ports violates the supremacy clause of the constitution, the US told a federal court.
States Group Pushes Need for Rounding Guidance as Penny Sunsets
A group that advises state legislatures attempted Wednesday to address lawmakers’ concerns about sales tax issues that may arise now that pennies are no longer in production.
Polis Warns of Taxpayer Costs If IRS’ Direct File Tool Lapses
Taxpayers will face a more cumbersome filing season if the Trump administration follows through with suspending the IRS’s Direct File tool, Colorado Gov. Jared Polis (D) warned in a letter Wednesday to Treasury Secretary Scott Bessent.
Illinois Settles Tax Suits, But Constitutional Questions Linger
Several Illinois Tax Tribunal complaints from online retailers challenging unpaid liabilities were resolved under the state’s recent tax amnesty, but the larger constitutional questions raised by the litigation remain unanswered.
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California Board to Consider New Partnership Adjustment Rules
Adjustments to tax filings regarding business partnerships that result in small dollar amounts owed to the California Franchise Tax Board could be waived in the future, following a new regulation project approved Monday.
Netflix, Hulu Avoid Missouri Video Fee After City Drops Case
A Missouri city dropped its proposed class action accusing
Hartford Insurer Sues Tax Lien Companies Over Deed Sale Cases
A
Hawaii Cruise Ship Tax Violates Supremacy Clause, US Argues
Hawaii’s environmental tax on cruise ships docking at the state’s ports violates the supremacy clause of the constitution, the US told a federal court.
Justices Decline to Review Bankruptcy Law’s Tax Penalty Powers
The US Supreme Court declined to consider an appeal surrounding a bankruptcy court’s authority over the discharge of an Indiana couple’s tax liabilities when the outcome wouldn’t affect distributions to creditors.
Texas Space Boom Requires Lots of Lawyers in Boost for Firms
Lawyers are as necessary as rocket fuel for legally complex space ventures, so as launches proliferate in Texas, so does the work for law firms.
Congress Faces Packed Agenda and Little Time Before End of 2025
Tensions are high on Capitol Hill, and days are numbered before lawmakers leave for the holidays, but that isn’t tempering their ambition to get through a lengthy slate of work.
Illinois Settles Tax Suits, But Constitutional Questions Linger
Several Illinois Tax Tribunal complaints from online retailers challenging unpaid liabilities were resolved under the state’s recent tax amnesty, but the larger constitutional questions raised by the litigation remain unanswered.
Week in Insights: Swiss Wealth Tax Rebuff Is a Lesson, Not an End
This week, experts analyzed KPMG AI usage in performance reviews, Netflix’s transfer pricing court victory in India, and more.
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Famed Bear Michael Burry Says He’s Bullish on Fannie and Freddie
CFTC Deepens Crypto Push With Approval of Derivatives Collateral
The
Bank CEOs Expected to Meet Senators on Crypto Market Structure
CFTC Starts Pilot to Allow Bitcoin, ETH as Derivative Collateral
The Commodity Futures Trading Commission has launched a pilot program to allow the use of some digital assets, including Bitcoin, Ether and Circle’s USDC stablecoin, as collateral in derivatives markets, CFTC says in a statement, citing Acting Chairman Caroline D. Pham.
Firm Leading Musk Pay Lawsuit Taps Retired Partner for Rebuild
The Manhattan law firm behind some of the country’s largest shareholder suits is bringing back a retired partner after a wave of exits.
CIBC Bank Wins Dismissal of Texas Mobile Transaction Patent Suit
Tax Your Crypto and NFTs? Yes, the IRS Wants Its Cut
Cryptocurrency and NFTs continue to rise in popularity in the U.S., but many people are still confused about how they are taxed. In this video, a partner at Steptoe & Johnson who specializes in tax policy and cryptocurrency, lays out how different crypto transactions are taxed.
Tax Developments
View MorePennsylvania Commonwealth Court Reverses Tax Sale Due to County Notice Violation
The Pennsylvania Commonwealth Court reversed the lower court’s decision and remanded the case to set aside a tax sale of the taxpayer’s property. The dispute arose when the Schuylkill County ...
West Virginia Court Upholds Tax Commissioner’s Valuation of Oil, Gas Royalties
The West Virginia Intermediate Court of Appeals affirmed the Office of Tax Appeals’ decision upholding the State Tax Commissioner’s ad valorem property tax assessments for oil and gas royalty interests. ...
Texas Appeals Court Affirms Dismissal of Property Classification Dispute
The Texas Court of Appeals issued a decision affirming the district court’s dismissal of taxpayer’s claims for lack of jurisdiction. The dispute arose from Harris County Appraisal District’s classification of ...
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