LexisNexis® Legal Newsroom
Treasury Issues Guidance on “Beginning Of Construction” for 1603 Grants

The U.S. Treasury Department has clarified when construction begins in order to qualify for 1603 cash grants in lieu of tax credits. Earlier this week, the U.S. Treasury Department released new guidance related to the cash grant program under Section 1603 of the American Recovery and Reinvestment...

The Repeal of the 80/20 Regime

On August 10, 2010, the President signed into law the Education, Jobs and Medicaid Assistance Act , P.L. 111-226, which, although not evident in the name of the Act, contained certain key foreign tax credit provisions and other rules that significantly affect U.S. multinational corporations. The...

Georgia Special Council on Tax Reform and Fairness Releases Report: Proposes Broader Consumption Taxes and the Elimination of Tax Credits in Lieu of Lower Income Tax Rates

By Jonathan A. Feldman The Special Council on Tax Reform and Fairness for Georgians (the Council) released its Report (the Report) on January 7, 2011. The Council was formed to review the tax code for fairness and to recommend a new tax structure to stimulate the Georgia economy. Unlike many other jurisdictions'...

Pepper Hamilton LLP: Maryland Comptroller Gets a Black Eye, Susan

By Lance S. Jacobs Howard County Circuit Court Rules that Out-of-State Tax Credit Mechanism Violates the Constitution A recent ruling by the Howard County Circuit Court, on an appeal from the Maryland Tax Court, offers the possibility of potential refund claims for Maryland residents...

McDermott Will & Emery: IRS Proposed Premium Tax Credit Regulations Signal Direction of Future Guidance on Employer Pay-or-Play Penalties

By Amy M. Gordon , Susan M. Nash , Maureen O'Brien and Jamie A. Weyeneth The Internal Revenue Service has issued proposed regulations implementing health insurance premium tax credits. The proposed regulations clarify the eligibility criteria for health insurance premium tax credits. In addition...

State Net Capitol Journal – March 12th, 2012

c Budget & Taxes FL JUDGE SIDES AGAINST STATE IN PENSION CASE: A Florida circuit court ruled last week that Gov. Rick Scott (R) and Republican legislative leaders' decision last year to cut public employee salaries to offset the state's contribution to their pension fund was an...

State Net Capitol Journal – March 12th, 2012

c Budget & Taxes FL JUDGE SIDES AGAINST STATE IN PENSION CASE: A Florida circuit court ruled last week that Gov. Rick Scott (R) and Republican legislative leaders' decision last year to cut public employee salaries to offset the state's contribution to their pension fund was an unconstitutional...

State Net Capitol Journal – May 7, 2012

SNCJ Spotlight With Congress stalled, states work their own "Amazon tax" deals Like millions of Americans these days, Dena Davidson buys a lot of products online. From birthday gifts to home furnishings, she eschews crowded malls at every opportunity, preferring the comfort of shopping...

State Net Capitol Journal – May 7, 2012

SNCJ Spotlight With Congress stalled, states work their own "Amazon tax" deals Like millions of Americans these days, Dena Davidson buys a lot of products online. From birthday gifts to home furnishings, she eschews crowded malls at every opportunity, preferring the comfort of shopping...

State Net Capitol Journal – September 10, 2012

Budget & Taxes CA STRUGGLES TO BALANCE ENVIRONMENTAL, ECONOMIC CONCERNS: The California Environmental Quality Act (CEQA), passed in 1970, has been credited with helping to preserve the state's lush wetlands and keep condos off the slopes of the majestic Sierra Nevada mountain range. But...

State Net Capitol Journal – September 10, 2012

Budget & Taxes CA STRUGGLES TO BALANCE ENVIRONMENTAL, ECONOMIC CONCERNS: The California Environmental Quality Act (CEQA), passed in 1970, has been credited with helping to preserve the state's lush wetlands and keep condos off the slopes of the majestic Sierra Nevada mountain range. But the...

State Net Capitol Journal – November 19, 2012

Budget & Taxes OBAMA FIRES OPENING BUDGET SALVO: At a meeting with union leaders and other liberal activists last week, President Barack Obama announced that he intended to begin budget negotiations with congressional leaders by calling for $1.6 trillion in additional tax revenue over the next...

State Net Capitol Journal – November 19, 2012

Budget & Taxes OBAMA FIRES OPENING BUDGET SALVO: At a meeting with union leaders and other liberal activists last week, President Barack Obama announced that he intended to begin budget negotiations with congressional leaders by calling for $1.6 trillion in additional tax revenue over the next...

State Net Capitol Journal – February 10, 2014; California Needs Bigger Entertainment Tax Credits?

Budget & Taxes CA NEEDS BIGGER ENTERTAINMENT TAX CREDITS? Hollywood has long been the capital of the film industry. But California Assemblyman Raul Bocanegra (D) said the state needs to boost its film and TV tax incentives to keep productions from being lured away to other locations. "For...