ArticleWealth Management Update - December 2020Certain federal interest rates increased slightly for December of 2020, while others remained the same.United StatesWealth ManagementProskauer Rose LLP
ArticleWhat Is A Judicial Sale In PA?There are many reasons real estate taxes go unpaid. In the Commonwealth, a taxing district – the County, School District and Municipality – may seek to recoup taxes via tax sales. Following an Upset Sale.United StatesReal Estate and ConstructionFitzpatrick Lentz & Bubba
ArticleConservation Tax Credit In NC: Who Is Eligible And How To ApplyNorth Carolina's new Conservation Tax Credit is an incentive created to encourage landowners and businesses to preserve valuable natural and cultural resources across the state.United StatesTaxYoung Moore and Henderson, P.A.
ArticleFormer Employee Blows The Whistle On Delaware Unclaimed Property ExposureIn a recent unpublished decision, the Superior Court of Delaware, New Castle County, decided to allow a business entity’s former tax manager, joining with the attorney general for the state of Delaware, to proceed with a False Claims Act ("FCA") case against the entity.United StatesTaxReed Smith
ArticlePied-à-Terre Tax Confusion Continues: Staying The Course While Appeal Of Recent Order Is PendingA New York Court of Claims judge has ordered substantial revisions to how New York City administers its Pied-à-Terre tax surcharge, canceling previously issued notices and shifting the burden of proof to the Department of Finance. The ruling requires individualized determinations before notices can be sent and eliminates the controversial exemption application process that had confused thousands of property owners. While the decision doesn't strike down the PAT law itself, it fundamentally restructuresUnited StatesTaxHolland & Knight
ArticlePitfalls In The Redemption Of Property By LendersIn Alabama, when a property owner fails to pay his ad valorem property taxes, his property may be sold at a public auction to the highest bidder. United StatesTaxBradley Arant Boult Cummings LLP
ArticleProposed Regulations Change Calculus Of Section 956's "Deemed Dividend" For US Corporate ShareholdersOn October 31, 2018, the US Internal Revenue Service ("IRS") released proposed regulations ("Proposed Regulations") that, if finalized, may substantially impact the way in which multinational corporations finance their operations.United StatesCorporate/Commercial LawMayer Brown
ArticleNew FIRPTA Reform Creates PATH To Potential Benefits For Existing REITs And Foreign Investors In The United StatesOn December 18, 2015, President Obama signed into law the Protecting Americans from Tax Hikes Act of 2015 (the "PATH Act"). United StatesFinance and BankingReed Smith
ArticleIRS Issues Guidance On New Bonus Depreciation RulesThe Tax Cuts and Jobs Act (TCJA) significantly expands bonus depreciation under Section 168(k) of the Internal Revenue Code for both regular tax and alternative minimum tax (AMT) purposesUnited StatesReal Estate and ConstructionORBA
Article8 Strategies To Reduce Your Manufacturing Property Tax BurdensWhile manufacturing and distribution companies face many challenges, one significant area of concern is property taxes. These taxes can be a substantial expense, affecting overall profitability. United StatesTaxMGO CPA LLP
ArticleCalifornia Voters Reject Ballot Measures Related To Rent Control And Property TaxPlease see below for a discussion of each proposition and voter response.United StatesTaxSheppard
ArticleCamp Releases Tax Reform Discussion Draft On Pass-Throughs As Parties Offer Opposing Budget Visions For Tax PolicyHouse Ways and Means Committee Chair Dave Camp, R-Mich., released a tax reform discussion draft on March 12 that would dramatically alter how pass-through businesses are taxed.United StatesTaxGrant Thornton LLP
ArticleKentucky Tax Talk: What Appeals Board Reinstatement MeansOn Aug. 31, Kentucky Gov. Andy Beshear signed an executive order to restructure the Public Protection Cabinet effective Sept. 1. Among other actions, the restructuring abolished the ...United StatesTaxFrost Brown Todd
ArticleNew Montana State Income And Property Taxes For 2025 & 202600The 2025 Montana Regular Session & 69th Legislature adjourned April 30. On May 16, Governor Gianforte announced that he signed two property tax bills (House Bill 231 and Senate Bill 542) into law...United StatesTaxParsons Behle & Latimer
ArticleNew York High Court Rules Use Of Actual Residence Critical To Residency DeterminationIn a case determining statutory residency for New York personal income tax purposes, the New York Court of Appeals held that to be classified as a resident, a person domiciled outside New York that frequently travels into New York must actually use a residence as a personal residence.United StatesTaxGrant Thornton LLP
ArticleOpportunity Zones And Opportunity Funds: Treasury Issues Eagerly Anticipated Proposed Regulations And Other IRS Guidance On New Tax IncentiveThere also are further questions about some of the timing requirements and how they apply in certain cases.United StatesTaxBakerHostetler
ArticlePA Commonwealth Court Flatlines Nonprofit Hospitals Exempt Status For Real Property TaxesOn February 10, 2023, in a much-anticipated group of Opinions, the Pennsylvania Commonwealth Court ("Court") held that four separate Tower Health hospitals (one in Montgomery County and three in Chester County)...United StatesTaxMcNees Wallace & Nurick
ArticleRecent California Decisions On Real Property, Floods, And COVID: Taxpayers One, Government OneTwo recent California tax decisions reveal contrasting outcomes for property owners dealing with disaster-related losses. While taxpayers secured a victory allowing tax-deferred rollovers on partially destroyed flood-damaged...United StatesTaxNossaman LLP
ArticleThe Hidden Costs Of Impact And Administrative Review FeesMost communities across New York, whether they're in the shadow of the Manhattan skyline or a stone's throw from a Finger Lake...United StatesTaxFarrell Fritz