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Documents on Taxation, Apparel
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|American Taxpayer Relief Act Provisions|
Bressler Amery Ross A Professional Corporation;
February 8, 2013, previously published on February 4, 2013Acting in last minute fashion, Congress addressed expiring tax provisions with the American Taxpayer Relief Act of 2012 (“ATRA”). The good news (besides avoiding the “fiscal cliff”) is that, unlike previous tax legislation passed in 2001 and 2010, ATRA provisions are...
|New York Tax Department’s Decombination Efforts Rejected in IT USA, Inc.|
Alvan L. Bobrow, Jeffrey S. Reed; Mayer Brown LLP;
January 29, 2013, previously published on January 24, 2013A New York State Division of Tax Appeals administrative law judge (“ALJ”) recently ruled that a group of three corporations properly filed New York State combined reports and therefore the New York State Department of Taxation and Finance’s (the “Department’s”)...
|China Ends an Era of Special Tax Treatments for Foreign Companies and Individuals|
Jun Hua, Josie Shi, Cheng Xu; Sheppard Mullin Richter Hampton LLP;
December 15, 2010, previously published on December 14, 2010Beginning December 1, 2010, foreign-invested enterprises, foreign enterprises, and foreign individuals are now required to pay the city maintenance and construction tax as well as the education surcharge, from which these entities and individuals were formerly exempt. Prior to this regulation, the...
|CBP Special Enforcement Initiative|
Susan Kohn Ross; Mitchell Silberberg & Knupp LLP;
June 30, 2010, previously published on June 10, 2010It has long been understood that achieving 100% trade compliance with textile and wearing apparel imports has been challenging for both Customs and the trade community. In a recent presentation, Janet Labuda, the U.S. Customs and Border Protection (CBP) Director of Textile Enforcement, reminded the...
|Giving Thought to Smart Giving: Responsible Corporate Philanthropy|
Christopher Petelle; Much Shelist Denenberg Ament & Rubenstein, P.C.;
December 23, 2008, previously published on November 2008The holidays are approaching, and so is the season when many individuals and companies make annual donations to charities. It is also increasingly common for companies to "match" the contributions of their employees.
|Ho Ho Ho: IRS Says Holiday Gift Coupons are Taxable|
Faegre & Benson LLP;
December 22, 2008, previously published on November 21, 2008An IRS Technical Advice Memorandum released in 2004 concludes that certain employer-provided gift coupons are taxable income to the employees receiving them, and therefore need to be taken into account in computing income and FICA tax withholding.
|Spotlight on Alabama: State and Local Tax Developments in 2008|
Baker, Donelson, Bearman, Caldwell & Berkowitz, PC;
December 22, 2008, previously published on November 21, 2008There have been several important Alabama legislative, administrative and legal developments that individuals and businesses should note.
|Maryland Tax Court Finds Corporation's Out-of-State Subsidiaries Subject to Maryland Corporate Income Tax|
Joseph T. Gulant, Robert P. Harrill, Michael J. Semes; Blank Rome LLP;
December 18, 2008, previously published on November 2008 The Maryland Tax Court put a gloss on the Maryland Supreme Court's SYL/Crown Cork decision in finding that two subsidiaries of a Maryland taxpayer were subject to Maryland Corporate Income Tax because the subsidiaries lacked economic substanceżeven though the subsidiaries conducted no business and...
|Last Chance for Deferred Compensation Compliance|
Laraine S. Rothenberg, Amy Loren Blackman, Mindy Meyers, Todd McCafferty; Fried, Frank, Harris, Shriver & Jacobson LLP;
December 18, 2008, previously published on November 21, 2008Employers must act by the end of the year to bring their deferred compensation plans and arrangements into compliance with Section 409A of the Internal Revenue Code of 1986, as amended, Inclusion in Gross Income of Deferred Compensation Under Nonqualified Deferred Compensation Plans ("Section...
|What Does EESA Mean for Average Citizens and Small Business Owners?|
Richard J. Firfer; Much Shelist Denenberg Ament & Rubenstein, P.C.;
December 18, 2008, previously published on November 12, 2008Although the Emergency Economic Stabilization Act (EESA) is principally aimed at having the government work with financial institutions to restore order in the marketplace, there are also very important provisions intended to have an immediate, specific impact on individuals and small businesses.