Aussie Court Affirms R&D Credit Denial For Basketball Shoe
The Australian producer of a basketball shoe cannot count its activities as research and development for tax purposes because of a lack of details on the shoe's development, the Federal Court of Australia ruled Monday.
Wayfair Boosts Validity Of Internet Activity Tax Reg, NY Says
The U.S. Supreme Court decision that scrapped the physical presence requirement for sales tax responsibilities bolsters a New York regulation that outlines when internet activities from out-of-state businesses exceed a federal law's protections against state income taxes, the state's tax agency argued.
Vanguard, Investors Get Initial OK On $40M Deal In Tax Suit
A Pennsylvania federal judge gave initial approval Monday to a $40 million settlement between Vanguard and investors who claimed the firm breached its fiduciary duty when it triggered a sell-off of assets that left investors with hefty tax bills.
Aussie Court Affirms R&D Credit Denial For Basketball Shoe
The Australian producer of a basketball shoe cannot count its activities as research and development for tax purposes because of a lack of details on the shoe's development, the Federal Court of Australia ruled Monday.
Wayfair Boosts Validity Of Internet Activity Tax Reg, NY Says
The U.S. Supreme Court decision that scrapped the physical presence requirement for sales tax responsibilities bolsters a New York regulation that outlines when internet activities from out-of-state businesses exceed a federal law's protections against state income taxes, the state's tax agency argued.
Vanguard, Investors Get Initial OK On $40M Deal In Tax Suit
A Pennsylvania federal judge gave initial approval Monday to a $40 million settlement between Vanguard and investors who claimed the firm breached its fiduciary duty when it triggered a sell-off of assets that left investors with hefty tax bills.
Federal More
The Moore Tax Law Group has brought on a former trial attorney for the U.S. Department of Justice, Tax Division, the firm announced.
California Gov. Gavin Newsom on Monday said that he's preparing to save electric vehicle tax credits — at least for residents of his state — if the Trump administration and a Republican Congress eliminate federal ones.
A Brazilian-American businessman accused of using Swiss bank accounts to hide $20 million from the Internal Revenue Service asked a Florida federal court to dismiss all the charges against him, saying federal ... (more story)
Akin Gump Strauss Hauer & Feld LLP has hired a former Washington Council Ernst & Young senior manager, who is bringing her tax policy-focused practice to the firm's Washington, D.C., office, according to a Mon... (more story)
President-elect Donald Trump on Friday announced that he's selected Scott Bessent, a billionaire hedge fund manager and the founder of Key Square Group, to serve as secretary of the Treasury in his upcoming administration.
The U.S. Supreme Court agreed Friday to review whether fees collected to support the Federal Communications Commission's array of telecom subsidy programs for low-income consumers, schools and rural healthcare... (more story)
A Connecticut federal judge has granted the federal government a temporary restraining order in a $1.4 million tax fight with a vitamin company, barring distributions to the owners unless the company allocates... (more story)
State & Local More
AG Slams Bid To 'Indoctrinate' Public In NJ RICO Case
New Jersey Attorney General Matt Platkin has rebuffed attacks from businessman George Norcross and others charged in his office's sprawling racketeering case in a pair of opposition filings, accusing the defen... (more story)
Utility Wins $2.4M Md. Sales Tax Refund On Appeal
A Maryland electric utility is entitled to a $2.4 million sales and use tax refund, a state appeals court said, upholding a tax court decision finding that the equipment at issue was used directly and predomin... (more story)
Amazon Wrongly Taxed Retroactively, COST Tells SC Justices
Amazon was not required to collect and remit South Carolina sales tax on transactions through its marketplace before legislation authorizing that imposition, the Council on State Taxation told the state's Supr... (more story)
Taxation With Representation: Stradley Ronon, Davis Polk
In this week's Taxation With Representation, Amcor PLC buys Berry Global Group Inc., AeroVironment buys BlueHalo, Robinhood Markets Inc. acquires TradePMR, and Comcast Corp. spins off a suite of NBCUniversal c... (more story)
Ill. High Court Won't Shield Sun-Times In Trump Tax Case
The Illinois Supreme Court ruled Thursday that the Chicago Sun-Times can't use an anti-SLAPP law to duck a defamation suit over the paper's coverage of an investigation into a $1 million property tax reduction... (more story)
Ill. Justices Give Marathon Chance To Avoid $15M Fuel Tax
Marathon Petroleum presented enough evidence to rebut claims by officials of an Illinois county that it owed about $15 million in fuel taxes on transactions stemming from cash settlements for delivery contract... (more story)
Experts Cool On 'Chill' Defense In NJ RICO Case
Former prosecutors and academics are doubtful two of New Jersey's most politically connected attorneys can convince a judge that the racketeering case against them will have a chilling effect on lawyering, giv... (more story)
3 Ways To Train Junior Lawyers In 30 Minutes Or Less
Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive trainin... (more story)
Fla. Couple Ask To Revive Suit Over Unclaimed Property
A Florida couple asked the Eleventh Circuit Wednesday to revive their proposed class suit against the state's chief financial officer over a law that allows officials to hold unclaimed money indefinitely, argu... (more story)
New Jersey Attorney General Matt Platkin has rebuffed attacks from businessman George Norcross and others charged in his office's sprawling racketeering case in a pair of opposition filings, accusing the defen... (more story)
A Maryland electric utility is entitled to a $2.4 million sales and use tax refund, a state appeals court said, upholding a tax court decision finding that the equipment at issue was used directly and predomin... (more story)
Amazon was not required to collect and remit South Carolina sales tax on transactions through its marketplace before legislation authorizing that imposition, the Council on State Taxation told the state's Supr... (more story)
In this week's Taxation With Representation, Amcor PLC buys Berry Global Group Inc., AeroVironment buys BlueHalo, Robinhood Markets Inc. acquires TradePMR, and Comcast Corp. spins off a suite of NBCUniversal c... (more story)
The Illinois Supreme Court ruled Thursday that the Chicago Sun-Times can't use an anti-SLAPP law to duck a defamation suit over the paper's coverage of an investigation into a $1 million property tax reduction... (more story)
Marathon Petroleum presented enough evidence to rebut claims by officials of an Illinois county that it owed about $15 million in fuel taxes on transactions stemming from cash settlements for delivery contract... (more story)
Former prosecutors and academics are doubtful two of New Jersey's most politically connected attorneys can convince a judge that the racketeering case against them will have a chilling effect on lawyering, giv... (more story)
Today’s junior lawyers are experiencing a skills gap due to pandemic-era disruptions, but firms can help bring them up to speed by offering high-impact skill building content in bite-sized, interactive trainin... (more story)
A Florida couple asked the Eleventh Circuit Wednesday to revive their proposed class suit against the state's chief financial officer over a law that allows officials to hold unclaimed money indefinitely, argu... (more story)
International More
Payments To Exxon Unit Taxable, Australian Panel Says
Exxon Mobil unit Esso is liable for tax on monthly payments it received for processing its Australian business partners' petroleum and on an AU$23.4 million ($15.5 million) lump sum payment, a panel at the Fed... (more story)
Halliburton Omitted Grounds From $35M Refund Suit, US Says
A Texas federal court must dismiss parts of Halliburton's $35 million tax refund lawsuit because the company failed to raise two grounds of relief in its administrative claim for a refund, the U.S. argued.
Breach Of VAT Rules Can Block €385K Refund, ECJ Rules
Bulgarian tax authorities can deny a value-added tax refund of approximately €385,000 ($403,000) to a domestic company that did not have the tax itemized on invoices, the European Court of Justice ruled Thursday.
11th Circ. Asked To Rethink $100M Credit For John Hancock
The Eleventh Circuit should reverse its decision allowing John Hancock Life Insurance Co. to keep $100 million in foreign tax credits that rightfully belong to the company's investors, trustees of a retirement... (more story)
Ryanair Threatens To Cut France Flights Over Ticket Tax
Irish budget airline Ryanair warned it would suspend flights to and from 10 regional airports in France if the country goes through with its proposed tax on plane tickets, which would take effect in January.
UK Biz Owes Taxes On £200M Sale Of Lease, Court Affirms
A U.K. property company owes tax on its intragroup purchase of a lease for a 50-story apartment tower in central London for £200 million ($253 million) despite its tax advisers' promise of a tax-free step-up i... (more story)
Feds Again Seek Early Win In $11.6M Willful FBAR Dispute
The U.S. government intends to renew its request to resolve a narrow matter in a dispute with an international businessman facing an $11.6 million penalty for willful failure to report his foreign bank account... (more story)
Exxon Mobil unit Esso is liable for tax on monthly payments it received for processing its Australian business partners' petroleum and on an AU$23.4 million ($15.5 million) lump sum payment, a panel at the Fed... (more story)
A Texas federal court must dismiss parts of Halliburton's $35 million tax refund lawsuit because the company failed to raise two grounds of relief in its administrative claim for a refund, the U.S. argued.
Bulgarian tax authorities can deny a value-added tax refund of approximately €385,000 ($403,000) to a domestic company that did not have the tax itemized on invoices, the European Court of Justice ruled Thursday.
The Eleventh Circuit should reverse its decision allowing John Hancock Life Insurance Co. to keep $100 million in foreign tax credits that rightfully belong to the company's investors, trustees of a retirement... (more story)
Irish budget airline Ryanair warned it would suspend flights to and from 10 regional airports in France if the country goes through with its proposed tax on plane tickets, which would take effect in January.
A U.K. property company owes tax on its intragroup purchase of a lease for a 50-story apartment tower in central London for £200 million ($253 million) despite its tax advisers' promise of a tax-free step-up i... (more story)
The U.S. government intends to renew its request to resolve a narrow matter in a dispute with an international businessman facing an $11.6 million penalty for willful failure to report his foreign bank account... (more story)