Mondaq USA: Tax
Bowditch & Dewey
On June 21, the U.S. Supreme Court upended the online retail industry, giving states the power to force online retailers to collect sales tax from sales to consumers.
Davis & Gilbert
The Supreme Court recently issued a 5-4 ruling in South Dakota v. Wayfair, overturning a 1992 Supreme Court decision in Quill v. North Dakota, that will now allow states to collect tax on internet sales...
As we noted previously, the IRS announced in March that it will end its Offshore Voluntary Disclosure Program (OVDP) on September 28, 2018. Under OVDP, a taxpayer with undisclosed foreign assets or income...
Cooley LLP
As we previously reported, on June 21, the Supreme Court overturned the longstanding rule that a state was prohibited from requiring a remote seller to collect sales tax where the seller...
Davies Ward Phillips & Vineberg
The U.S. Supreme Court has released a much-anticipated decision in South Dakota v Wayfair, Inc., which overturned the Court's decades-old limitation on states' power to assert sales tax jurisdiction ...
Fenwick & West LLP
U.S. taxation of intellectual property has become astoundingly more complex after the Tax Cuts and Jobs Act. The new rules are so complex that the IRS and Treasury are still figuring out...
On June 21, 2018, the Supreme Court handed down a decision that eliminated a foundational concept in e-commerce.
Duff and Phelps
It never really seemed to make much sense, did it? From its infancy as a start-up bookseller called to its current stature as a multi-conglomerate retail revolution, online shopping...
Holland & Knight
New York, New Jersey and Connecticut, as well as other high income tax states, are more likely than not going to see a migration of highly taxed individuals out of their states due to the federal changes...
Mayer Brown
The deduction for interest has been under some pressure lately. In particular, the Tax Cuts and Jobs Act (P.L. 115-97) recently amended Section 163(j) of the Internal Revenue Code of 1986 ...
Holland & Knight
Bloomberg Tax sponsored a program titled, "New Era of Material Wealth Creation with ESOPs" which explored the 2017 Tax Act and its impact on ESOPs, alternative structures for ESOP...
Withers LLP
On June 21, 2018, the Supreme Court of the United States held in South Dakota v. Wayfair
Reed Smith
The omnibus bill includes a number of corporate income tax provisions in response to federal changes in the Tax Cuts and Jobs Act ("TCJA").
Mayer Brown
Two weeks ago, we provided a Legal Update on the then-current version of the New Jersey budget legislation.
Archer & Greiner P.C.
On July 1, 2018, Governor Murphy signed into law a $37.4 billion state budget for fiscal year 2019, avoiding a government shutdown.
Arnold & Porter
On June 21, 2018, a 5-4 majority of the US Supreme Court in South Dakota v. Wayfair, Inc. overturned the physical presence sales tax rule set forth in Quill Corp. v. North Dakota.
Reed Smith
New Jersey Governor Phil Murphy and legislative leaders avoided a government shutdown by reaching a compromise on various tax measures.
Dickinson Wright PLLC
In 2018, each person has a lifetime gift tax exemption of $11,180,000 and a lifetime generation-skipping transfer (GST) tax exemption amount of $11,180,000
Duane Morris LLP
Foreign businesses that sell goods and services in the United States may now have to register for and collect sales/use taxes in thousands of state and local taxing jurisdictions under the Supreme Court's new decision ...
Ostrow Reisin Berk & Abrams
In South Dakota v. Wayfair, Inc., the U.S. Supreme Court handed down a landmark ruling giving state and local governments the green light to impose sales taxes collection requirements on out-of-state sellers.
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Kramer Levin Naftalis & Frankel LLP
President Trump signed sweeping tax legislation into law on Dec. 22, 2017, resulting in several significant changes to the wealth transfer tax system, effective as of Jan. 1, 2018.
Reed Smith
The Pennsylvania Department of Revenue's Board of Appeals has issued about 45 orders remanding refund claims to the Bureau of Audits.
Carlton Fields
Now more than ever, companies must carefully consider the tax treatment of these payments when negotiating False Claims Act settlements with the DOJ.
The Court explicitly rejected the requirement that a remote seller must have a physical presence in a state before that state or its localities could require sales tax collection.
Withers LLP
The US Supreme Court has overruled the longstanding rule that interstate sellers do not need to collect and remit state sales tax unless they have a physical presence in a state.
On June 21, 2018, the US Supreme Court issued its decision in South Dakota v. Wayfair, Inc., overruling the Quill physical presence nexus test for collection of sales and use taxes by remote vendors.
Ruchelman PLLC
In IR-2018-131, issued on June 4, 2018, the I.R.S. announced that it will waive certain late-payment penalties relating to the Code §965 transition tax ...
Ostrow Reisin Berk & Abrams
With the 2018 federal estate tax exemption being raised from $5.6 million to $11.2 million, some are wondering if making lifetime gifts ...
Ruchelman PLLC
On April 2, 2018, the I.R.S. published Notice 2018-29 (the "Notice"), describing Treasury Regulations it intends to issue with regard to the new withholding requirement on transfers of partnership interests ...
Ruchelman PLLC
The I.R.S. Large Business and International division ("LB&I") recently announced the approval of the following six additional compliance campaigns:
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