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On June 20, 2023, the Court of Federal Claims denied summary judgment to the taxpayer in Alta Wind I Owner-Lessor C, et al. v. United States ("Alta Wind (2023)"),1 the latest episode in an ongoing...

The Los Angeles Office of Finance has released a new FAQ confirming that real property transfers that are exempt from the current City documentary transfer tax also are exempt from the special tax under Measure ULA, commonly referred to as the "mansion tax".

California county assessors prepare annual assessment rolls consisting of all taxable property in their county. In many counties...

In this blog we consider the current design of the residential property developer tax (RPDT). Separately we have blogged on the triggers for liability.

Most non-US persons who are properly advised regarding US real estate ownership will structure their holdings to include some combination of US LLCs,

The U.S. Department of the Treasury and IRS on April 25, 2024, released the final regulations under Section 6418 of the Internal Revenue Code regarding the transfer of tax credits.

Investors willing to make long-term investments in distressed communities now have a powerful tax incentive for doing so—the Qualified Opportunity Zone (QOZ) program,

Since our prior installment in the One Big Beautiful Bill Act Analysis Series was published just days after the One Big Beautiful Bill Act (OBBBA) was signed into law, there have been noteworthy updates...

New York has enacted an annual "pied-à-terre tax" on high-value New York City non-primary residences, effective July 2026, that could impose significant tax burdens on owners of luxury second homes. The tax applies to properties valued above certain thresholds, with rates varying by property type and value, and extends to properties held through trusts, LLCs, and other business entities. Property owners must understand exemption criteria and prepare documentation to challenge assessments before the Dep

The GOP tax bill was approved by both the House and Senate and signed by the President. The current US tax reform initiative is the most ambitious attempt at rewriting the US tax code since 1986.

To those CPAs and taxpayers who pulled all-nighters to get returns filed this past Monday, October 16, 2023, the IRS that same day channeled Emily Litella and said, "Never mind."

On 30 April 2026, the Pennsylvania Supreme Court (the Court) issued its long-awaited decision in Borough of West Chester v. Pa. State System of Higher Education & West Chester University.

Foreclosure: final summary judgment in borrower's favor inappropriate where borrower merely asserted that lender mistakenly filed copy of original note with court...

On August 6, 2013, the City of Chicago's Department of Finance revised its June 1, 2004 Personal Property Lease Transaction Tax ("Lease Tax") Ruling #5. The revised ruling, effective September 1, 2013, expands the Lease Tax base to include perpetual software licenses.

In an ambitious and controversial move to address New York City’s housing affordability crisis and generate new revenue streams, New York City introduced a pied-à-terre tax for high-value non-primary residential...

Recent legislative discussions concerning tax reform have included the potential elimination of several federal provisions long considered sacred to state and local governments and untouchable by federal policymakers.

As expected, the Maine Tax Reform Proposal did not gather enough support, so the plan was turned down earlier this month.