Tax Matters Facing Foreign Startups Who Want to Come to the US (Video Content)

Pennsylvania's Department of Revenue has eliminated a key safe harbor for consolidated filers, requiring separate-company calculations of federal interest expense limitations under IRC Section 163(j) for Corporate Net Income Tax purposes starting in 2025. The new guidance introduces complex tracking requirements for intercompany interest, third-party debt, and carryforwards while freezing conformity to pre-OBBB rules, creating significant compliance challenges for multistate corporations.

The IRS has issued Notice 2026-40 providing transition guidance for investors who deferred capital gains under the original Opportunity Zone program. While December 31, 2026 remains the mandatory recognition date for deferred gains, the guidance reveals a potential planning opportunity that may allow certain investors to continue deferring gains under the new Opportunity Zone regime through strategic pre-year-end transactions.

California's proposed Billionaire Tax Act would impose a onetime 5% excise tax on individuals and trusts with assets exceeding $1 billion, creating unprecedented challenges for estate planners. The retroactive application and anti-abuse provisions raise critical questions about the treatment of grantor trusts, non-grantor trusts, and beneficiary interests that deviate significantly from established federal wealth transfer tax principles.

Greenberg Traurig's State and Local Tax team is hitting the road this fall with a packed schedule of speaking engagements at premier tax conferences across the country. From the COST Annual Meeting in San Antonio to the Hartman SALT Forum in Nashville, GT attorneys will address critical topics including legislative updates, apportionment issues, property tax developments, and multistate planning strategies that are shaping the state tax landscape.

Private placement life insurance (PPLI) has been characterized as a tax loophole for the ultra-wealthy, but is that characterization accurate? This analysis examines the mechanics, regulatory framework, and evolving accessibility of PPLI, challenging common misconceptions about how these insurance products actually work and who can benefit from them.

The U.S. Department of the Treasury and IRS have released Notice 2026-53, establishing new emissions rate tables for the Section 45Z clean fuel production tax credit and implementing key amendments from the One Big Beautiful Bill Act. The notice introduces distinct emissions rates for transportation fuels derived from animal manure, permits farm-specific alternative fate determinations, and addresses the exclusion of indirect land use change emissions.

The United States cryptocurrency regulatory landscape has undergone its most dramatic transformation in history. The signing of the GENIUS Act into law on July 18, 2025 — the first comprehensive federal crypto statute ever enacted — marks a before-and-after moment for American digital asset law.

Washington voters will decide the future of the state’s new 9.9% tax on annual taxable income above $1 million after a repeal initiative qualified for the November ballot.

The IRS and Treasury Department have proposed sweeping new regulations that could strip tax-exempt status from private schools using race-based criteria in admissions, scholarships, or programs—even when designed to promote diversity or remedy historical discrimination. These proposed rules would affect an estimated 18,000 educational institutions nationwide and create significant compliance challenges for schools, their donors, and holders of tax-exempt bonds financing educational facilities.

The U.S. Treasury Department and IRS have proposed sweeping regulations that would eliminate tax-exempt status for private schools engaging in any form of racial discrimination, including race-conscious admissions and scholarship programs previously permitted under safe harbor provisions. These proposed rules would affect approximately 18,000 private educational institutions and 750,000 students...

Recent trade secret case law reveals critical standards for proving misappropriation, from the Ninth Circuit's reversal of a $57 million judgment over incorrect jury instructions on the "not readily ascertainable" element, to the Eighth Circuit's requirements for adequate trade secret identification. Courts continue to refine extraterritorial application of the DTSA and standards for demonstrating actual use of allegedly misappropriated information.

The USPTO has released its latest economic impact report on IP-intensive industries, announced a new community engagement office in North Carolina, and issued several administrative updates including relief for Japanese applicants affected by a severe earthquake. The Patent Trial and Appeal Board has also designated new precedential and informative decisions addressing obviousness-type double patenting and Markush groupings.

The Treasury Department and IRS have proposed a regulation that would revoke federal tax-exempt status for private educational institutions with policies or practices deemed to discriminate on the basis of race, including diversity-related programs. The rule eliminates previous safe harbors and raises significant questions about the scope of prohibited activities, potentially affecting scholarships, fellowships, and pipeline programs at schools nationwide.

As investment in data center infrastructure accelerates globally, disputes are emerging from contractual and investment-related risks that commonly accompany large-scale infrastructure projects. This analysis examines the growing wave of contractual claims among owners, contractors, and subcontractors, as well as investment treaty claims that may arise when governmental actions impact overseas data center developments.

A Council on Foreign Relations study group, including WilmerHale Senior Counsel Stephen Preston, has released a comprehensive report examining the critical state of America's defense industrial...

The SEC and FDA have formalized an information-sharing agreement that fundamentally changes how life sciences companies must approach their public disclosures about FDA interactions. This memorandum of understanding creates a direct pathway for the SEC to access previously confidential FDA records, including meeting minutes and Complete Response Letters, to verify the accuracy of companies' public statements.

When an internal investigation surfaces just before a filing deadline, how a company engages its external auditor in those critical first days can determine whether it meets regulatory requirements.

Washington Attorney General Nick Brown released the state's first Data Privacy Report, examining how the modern data economy incentivizes personal information collection and retention. The report catalogs resulting harms and recommends that lawmakers strengthen privacy protections, enforcement, and public education while highlighting Washington's continued lack of a comprehensive consumer privacy statute despite inspiring other states' privacy laws.

Governor Abbott's recent directive has introduced significant delays and new verification requirements for large data center projects in Texas, creating unprecedented political and regulatory uncertainty. The directive pauses approvals for facilities over 75 megawatts while ERCOT conducts eligibility verification, potentially delaying projects by several months and signaling a dramatic shift in how Texas approaches data center development and grid reliability.

The Securities and Exchange Commission has proposed Regulation Crypto Assets, establishing a comprehensive regulatory framework for investment contracts involving crypto assets. This landmark proposal introduces two new exemptions from Securities Act registration requirements—a Startup Exemption for offerings up to $5 million over four years and a Fundraising Exemption for offerings up to $75 million annually—while also providing a conditional safe harbor from the investment contract definition