LexisNexis® Legal Newsroom
TaxAnalysts®
Illinois Faces Quick Deadline to Change Tax Regime, Pass Budget

Officials in Illinois have until June 30 to resolve substantial issues involving every type of major tax so they can pass a budget and avoid their state becoming the first in history to have its bonds rated as "junk." Junk status would make...

TaxAnalysts®
Taxpayers Cannot Challenge Educational Tax Credit Program, Georgia Supreme Court Rules

Taxpayers lack standing to challenge Georgia’s educational tax credit, the Georgia Supreme Court unanimously held June 26 in a case involving donations made to religious schools. In Gaddy v. Dep’t of Revenue , the Georgia Supreme Court affirmed...

LexisNexis Tax Law Community Staff
Taxation of New York City Real Property

by Steven Tishko * In New York City, real estate taxes have become an increasingly greater expense for property owners and landlords in recent years. As such, they are an ever-growing factor that any potential purchaser or tenant must account for in...

LexisNexis Tax Law Community Staff
Excess "Golden Parachute" Payments--Nondeductible and Penalty Tax

By Alison Stemler, J.D. * The golden parachute rules in IRC Section 280G state that if an employee or contractor receives or will receive compensation that is triggered by or closely related to a change in control, and that change in control compensation...

LexisNexis Tax Law Community Staff
Brain Freeze: Multiple Property Valuations Questioned

by Joseph J. Calvanico When any case reaches the Supreme Court of any given state, it is reasonable to conclude that the case is in the hands of the most learned legal minds in that state. It is also reasonable to conclude that the decision will be...

LexisNexis Tax Law Community Staff
Required Compensation Risk Analysis, Claw Backs and Mandatory Deferrals

by Alison Stemler * One of the main purposes of the Dodd-Frank Act is to promote financial stability in the US economy, including through a significant number of provisions relating to financial institutions. [Incentive-Based Compensation Arrangements...