Monday Morning Regulatory Review: ACA Individual Mandate, Tax Credit Rule, DOT Guidance

Monday Morning Regulatory Review: ACA Individual Mandate, Tax Credit Rule, DOT Guidance

The Engine of Government fully engaged last week, paperwork to follow.  The Administration “announced” an interpretation of the Patient Protection and Affordable Care Act (PPACA, aka ObamaCare) that permits more time for individuals to acquire health care and avoid tax penalties, while the United States District Court for the District of Columbia denied a preliminary injunction against some of those tax credits.

The Comptroller Wants the Texas Supreme Court to Reverse the Richmont Aviation Opinion

Remember the Richmont Aviation case? There, the Texas Third Court of Appeals at Austin issued an opinion allowing a taxpayer to challenge a tax assessment in a state court injunction action without first paying the assessed amount or posting a bond for twice the amount, as required by Subsect. (a)(2) of Tex. Tax Code ann. §112.101 (for more about the Third Court’s opinion, take a look at “A possible game changer for bringing Texas tax disputes in the state’s courts”).

If at First You Don’t Succeed: Illinois House of Representatives Introduces Corporate Tax Liability Disclosure Bill After Senate Failure

By | Sutherland SALT Shaker | October 22, 2013

The Illinois House of Representatives recently held a contentious hearing on legislation introduced earlier this year that would require publicly traded corporations, and those that are at least 50% owned by a publicly traded company, “doing business” in Illinois to disclose certain tax information in an annual statement filed with the Secretary of State. Under House Bill (HB) 3627’s broad definition of “doing business,” corporations making sales of tangible personal property to Illinois customers, earning income from intangible personal property with a situs in Illinois, or performing services for customers located in Illinois would be subject to the disclosure requirements even if not subject to the corporate income tax.