In its first decision on combined unitary reporting since Vermont adopted combined reporting in 2006, the Vermont Supreme Court held that the AIG insurance group was not unitary with its wholly owned ski resort subsidiary, Stowe Mountain Resort.
The IRS recently issued TAM 201544025 (“TAM”) in which it held that a 501(c)(3) organization’s activities constituted unrelated business taxable income (“UBTI”).
In a decision sure to give Pennsylvania legislators and the Department of Revenue indigestion before their big Thanksgiving meals, the Commonwealth Court held that Pennsylvania’s net loss carryover deduction cap violated Pennsylvania’s Uniformity Clause because it resulted in disparate treatment of similarly situated taxpayers based on the size of the business.
The Chief Financial Officer’s Act of 1990 (“1990 Act”) was signed into law by President George H.W. Bush on November 15, 1990.
In the closing days of its September term, the Illinois Supreme Court heard oral argument in People ex rel. McGuire v. Cornelius, which poses a potentially important question for the tax and property law bars: what notice to the current owner of a property is sufficient to grant the court jurisdiction to finalize a tax sale?
I moderated a panel at MDV-SEIA’s Solar Focus event to discuss what is arguably the hottest, most impactful topic in the solar space today – the Investment Tax Credit (ITC), and specifically, its scheduled step-down at the end of calendar year 2016.
New York City’s Affordable Transit Act, which takes effect on January 1, 2016, will require most employers with 20 or more full-time employees to allow employees to apply pre-tax earnings toward qualified commuting expenses.
Yesterday, the City of Chicago (City) Department of Finance (Department) published an Information Bulletin that provides additional guidance on the Personal Property Lease Transaction Tax (Lease Tax) and extends a new Voluntary Disclosure Agreement (VDA) offer to providers and customers.
In an earlier post, we highlighted that Canada’s newly-elected Liberal government plans to change the taxation of stock options by capping the available amount of the stock option deduction.