Week in Insights: Nonprofits Shouldn’t Define Charity Too Loosely
This week, experts examined the impact of recent Corporate Transparency Act developments, the introduction of transferable renewable energy tax credits, and more.
Daily Tax Report: State
Vegas Lures Millionaires Fleeing Wealth Tax in Washington State
At a Christmas party last year in Las Vegas, nearly a dozen wealthy former residents of Washington state compared notes on their transition to the desert.
Sundance Announces Colorado Move as Tax Breaks Near Passage
A $34 million tax break to lure the Sundance Film Festival to Colorado cleared a procedural hurdle in the state Senate in a unanimous vote Thursday, the same day the festival announced it selected Boulder from among three potential locations to host the event starting in 2027.
Sales Tax Group Pushes for Sanctions on Georgia, Nebraska, Ohio
A committee of the Streamlined Sales Tax Governing Board advanced plans for a round of sanctions on Georgia, Nebraska, and Ohio Friday, finding the states weren’t in compliance with the group’s governing agreement aimed at simplifying sales tax codes.
NYC Brushes Off Housing Group’s ‘Surprise’ Motion in Tax Dispute
New York City urged a state trial court to reject a request by a coalition of homeowners, rental property owners, and social justice organizations to force an overhaul of how the city collects property taxes.
Catholic Charities Case Poised to Shape Religious Tax Exemptions
The US Supreme Court is set to hear arguments Mar. 31 in a case attorneys and legal scholars say could dramatically expand eligibility for religious tax exemptions and create an uneven playing field for charitable organizations.
PRACTITIONER INSIGHTS
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Adam Brewer
AB Tax Law APC
Jack Castonguay
Hofstra University
Charles Rettig
Chamberlain Hrdlicka
Latest Stories
Louisiana Voters Reject Tax Changes to State Constitution
Louisiana Gov. Jeff Landry’s (R) plan to streamline the tax and budget article of the state constitution failed to win support from voters during a special election held Saturday.
Judge Blocks Trump’s Order Targeting WilmerHale Law Firm
A DC federal judge on Friday temporarily barred the Trump administration from enforcing sections of an executive order targeting law firm WilmerHale.
Judge Says He Is Inclined to Grant WilmerHale Restraining Order
A DC federal judge on Friday said he is inclined to grant WilmerHale a temporary restraining order against a Trump administration executive order, though there’s a question as to how broad it will be.
Michigan Homeowner’s Taking Tax Suit Fails in Federal Court
A former homeowner’s lawsuit accusing Macomb County, Mich., of committing an unconstitutional taking via a tax foreclosure failed because the plaintiff didn’t claim the surplus proceeds when she had the opportunity, the Sixth Circuit said Friday.
Sales Tax Group Pushes for Sanctions on Georgia, Nebraska, Ohio
A committee of the Streamlined Sales Tax Governing Board advanced plans for a round of sanctions on Georgia, Nebraska, and Ohio Friday, finding the states weren’t in compliance with the group’s governing agreement aimed at simplifying sales tax codes.
State of Tax: California Motions, IRS Guide Pulled in DEI Review
The week in state tax: Taxpayer groups file motions for a quick resolution in their case against a California law on foreign affiliate dividends—as does the state itself. Meanwhile, an IRS guide instructing state revenue authorities on how to securely handle federal tax data goes offline amid the Trump administration’s DEI hunt, and New Jersey lawmakers aim to scale back some of the governor’s proposed tax hikes.
ChampionX Urges Texas Court to Affirm $3.17 Million Tax Refund
ChampionX LLC’s containers used to transport chemicals to its oil and gas industry customers are exempt from Texas sales and use tax under state law, the company told a state appeals court.
NYC Brushes Off Housing Group’s ‘Surprise’ Motion in Tax Dispute
New York City urged a state trial court to reject a request by a coalition of homeowners, rental property owners, and social justice organizations to force an overhaul of how the city collects property taxes.
Texas Justices Reinstate Radioactive Waste Removal Challenge
A Texas title company caught between competing demands from government agencies can continue its fight to avoid getting taxed on radioactive material abandoned on its property, the state’s supreme court said Friday.
FROM ACROSS BLOOMBERG TAX
- Crypto News
- Daily Tax Report ®
- Daily Tax Report: International
- Financial Accounting News
Crypto’s Trumpian Embrace Is Leaving Bitcoin’s Big Rival Behind
After capturing the imaginations of both corporate America and Wall Street, Vitalik Buterin’s Ethereum project is struggling to deliver on its early promise as it enters its second decade, having fallen out of step in an industry transformed by the embrace of Donald Trump. Developers have been fleeing, early followers are angry and the token on the network — Ether — has lagged both Bitcoin and its smaller competitors.
Judge Blocks Trump's Order Targeting WilmerHale Law Firm (1)
A DC federal judge on Friday temporarily barred the Trump administration from enforcing sections of an executive order targeting law firm WilmerHale.
Judge Freezes Trump Executive Order Targeting Jenner & Block
A DC federal judge on Friday temporarily barred the Trump administration from enforcing an executive order targeting law firm Jenner & Block.
Judge Says He Is Inclined to Grant WilmerHale Restraining Order
A DC federal judge on Friday said he is inclined to grant WilmerHale a temporary restraining order against a Trump administration executive order, though there’s a question as to how broad it will be.
Trump Pardons BitMEX Crypto Exchange Co-Founder Arthur Hayes (1)
President Donald Trump has pardoned
CFTC Pulls Advisories on Review of Crypto Clearing, Trading (1)
The
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 MoreIowa DOR Readopts Excise Tax Rules on Cigarette, Tobacco, Alternative Nicotine, Vapor Products
The Iowa Department of Revenue (DOR) readopted the rules on the administration of the excise tax on cigarette and tobacco products and the regulation of alternative nicotine and vapor products ...
Iowa DOR Adopts Amended Excise Tax Rules on Unfair Cigarette Sales
The Iowa Department of Revenue (DOR) adopted amended regulations concerning unfair cigarette sales for excise tax purposes. The rules include implementing the legislative changes regarding unfair cigarette sales and minimum ...
Illinois DOR Adopts Amended Sales and Use Tax Regulations on Special County Retailers’ Occupation Tax
The Illinois Department of Revenue (DOR) adopted amended regulations concerning the Special County Retailers’ Occupation Tax for Public Safety, for sales and use tax purposes. The rules include: 1) incorporation ...
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