Tax Law

Recent Posts

Profits or Salary? New Jersey Tax Court Determines Distributions Are Dividends, Not Compensation for Services
Posted on 8 Jan 2020 by Eversheds Sutherland LLP

The New Jersey Tax Court held that distributions made to a corporation’s two shareholders constituted dividends, and rejected the corporation’s argument that the distributions should be treated as compensation for managerial services that could be deducted... Read More

Montana Supreme Court Holds Actual Dividends Fully Deductible in Water’s-Edge Case
Posted on 27 Aug 2019 by Eversheds Sutherland LLP

The Montana Supreme Court held that the Department erred in determining that Exxon Mobil was entitled to only an 80% exclusion for dividends received from domestic corporations excluded from the water’s-edge combined return, and concluded that 100% of... Read More

Tax Treatment of Gift, Dividends, or Loans to Employees
Posted on 4 Sep 2012 by LexisNexis Tax Law Community Staff

by Mary Howley * Although gifts are generally excluded from income, gifts from employers to employees are generally included in income. Achievement awards given to employees from employers may be excluded from income in certain cases. Holiday gifts... Read More

Tax Treatment of Gift, Dividends, or Loans to Employees
Posted on 4 Sep 2012 by LexisNexis Tax Law Community Staff

by Mary Howley * Although gifts are generally excluded from income, gifts from employers to employees are generally included in income. Achievement awards given to employees from employers may be excluded from income in certain cases. Holiday gifts... Read More