Sutherland Asbill & Brennan LLP New York, AZ Document Search Results (92)
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|Update on NAIC and State Regulatory Activity on “Price Optimization”|
Eric A. Arnold, Thomas W. Curvin, Stephen E. Roth, Cynthia R. Shoss, Phillip E. Stano; Sutherland Asbill & Brennan LLP;
July 24, 2015, previously published on July 23, 2015Regulatory activity on price optimization appears to be coming to a head. The National Association of Insurance Commissioners (NAIC) Casualty Actuarial and Statistical (C) Task Force is continuing to gather input, with all roads leading toward a significant discussion of the issue at the upcoming...
|IRS Establishes 80% Threshold for Energy Companies to Apply When Determining Whether “Substantially All” of a Major Component Has Been Replaced|
Herbert N. Beller, Ellen McElroy, Michael D. Resnick, Meghana D. Shah, H. Karl Zeswitz; Sutherland Asbill & Brennan LLP;
July 23, 2015, previously published on July 23, 2015On July 6, the Internal Revenue Service (IRS) Large Business and International Division issued a Directive1 to IRS agents regarding how to determine when a major component pertaining to steam or electric generation property has been replaced for purposes of the tangible property regulations. Agents...
|Volcker Agencies Provide Seeding Period Guidance for BDCs, RICs and FPFs in New FAQ|
Brian Barrett, Steven B. Boehm, Harry S. Pangas, John Allen Zumpetta; Sutherland Asbill & Brennan LLP;
July 22, 2015, previously published on July 21, 2015On July 16, 2015, the agencies responsible for implementing the Volcker rule (Agencies) issued FAQ 16, which provides guidance on the circumstances under which a seed investment would not cause (i) a registered investment company (RIC), (ii) a business development company (BDC) that has elected to...
|Hog Wild: In Harley-Davidson, California Court of Appeal Finds Discrimination, Affirms Nexus|
Andrew D. Appleby, Michael P. Penza; Sutherland Asbill & Brennan LLP;
July 22, 2015, previously published on July 21, 2015The California Court of Appeal held that California’s disparate treatment of intrastate and interstate unitary businesses discriminated against interstate commerce. California requires taxpayers engaged in a unitary business within and without California to calculate their taxable income...
|ISDA Publishes EMIR Classification Letter|
Brian Barrett, Daphne G. Frydman, Catherine M. Krupka, David T. McIndoe, Mark D. Sherrill; Sutherland Asbill & Brennan LLP;
July 21, 2015, previously published on July 20, 2015On July 13, the International Swaps and Derivatives Association, Inc. (ISDA) published the ISDA EMIR Classification Letter (the Classification Letter), a form of letter that may be used by market participants managing their regulatory obligations under the European Market Infrastructure Regulation...
|A Reasonable Result in Massachusetts: Related Party Interest Deductions Allowed Under the Unreasonable Exception|
Open Weaver Banks, Stephen A. Burroughs, Jonathan A. Feldman; Sutherland Asbill & Brennan LLP;
July 21, 2015, previously published on July 20, 2015In a significant taxpayer win, the Massachusetts Appellate Tax Board (ATB) held that intercompany interest payments from a wholly owned subsidiary to Massachusetts Mutual Life Insurance Company (MassMutual) were bona fide loans and were deductible for excise tax purposes. The subsidiary (HoldCo)...
|It's Curtains for Some Lump-Sum Window Programs|
Bert Adams, Brian Barrett, Brenna M. Clark, Adam B. Cohen, Brittany Edwards-Franklin; Sutherland Asbill & Brennan LLP;
July 16, 2015, previously published on July 15, 2015On July 9, the Internal Revenue Service (IRS) released Notice 2015-49 to announce it intends to prohibit retirees who are receiving annuity payments from a defined benefit pension plan from electing a lump sum in lieu of the annuity. The IRS will prohibit these elections by amending the Treasury...
|European Regulators Publish Second Consultation Paper on Margin for OTC Derivatives|
Brian Barrett, James M. Cain, Daphne G. Frydman, Catherine M. Krupka, David T. McIndoe; Sutherland Asbill & Brennan LLP;
July 7, 2015, previously published on July 6, 2015On June 10, the European Supervisory Authorities (ESA) published a second consultation paper on draft Regulatory Technical Standards (RTS) to implement the European Market Infrastructure Regulation (EMIR) requirement that persons classified under EMIR as “financial counterparties” (FCs)...
|First Investor Control Case Since 1984 Is Released|
Dennis L. Allen, Thomas A. Gick, Jeffrey H. Mace, Michael R. Miles, William R. Pauls; Sutherland Asbill & Brennan LLP;
July 7, 2015, previously published on July 7, 2015On June 30, the Tax Court released Webber v. Commissioner, 144 T.C. No.17, in which the court upheld and applied the principles set forth in the Internal Revenue Service’s (IRS) “investor control” rulings, concluding that for federal tax purposes, the taxpayer in question was the...
|Found in Translation: Online Drop Shipment Facilitation Service Not Subject to New York Sales and Use Tax|
Open Weaver Banks, Evan M. Hamme; Sutherland Asbill & Brennan LLP;
June 30, 2015, previously published on June 29, 2015The New York State Department of Taxation and Finance released an advisory opinion explaining how it will treat drop shipment facilitation services for sales and use tax purposes. The petitioner uses proprietary software to create an Internet-based “hub” through which a web-based...