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HTMLU.S. Treasury Releases More Workable Proposed Regulations on ‘Issue Price’ for Municipal Bonds
Linda L. D'Onofrio, Vanessa Albert Lowry; Greenberg Traurig, LLP;
Legal Alert/Article
July 3, 2015, previously published on June 30, 2015
On June 24, 2015, the U.S. Department of the Treasury (Treasury) published in the Federal Register new proposed regulations (the New Proposed Regulations) under Section 148 of the Internal Revenue Code of 1986, as amended (the Code) amending the definition of “issue price” (issue price)...

 

HTMLState Budget on its Way to Gov. Kasich's Desk
Michael Caputo, Rebecca M. Kuhns, Aaron M. Ockerman, Todd A. Snitchler; McDonald Hopkins LLC;
Legal Alert/Article
July 3, 2015, previously published on June 26, 2015
The Ohio General Assembly completed its work today on House Bill 64, the state's two-year operating budget. The Ohio House voted in favor of the bill 61-34; the Ohio Senate had voted 23-9 in favor of the bill on June 25. The Conference Committee, comprised of six members from the House and Senate...

 

HTMLIRS Revamps Proposed Issue Price Definition for Municipal Bonds
Christie L. Martin, Maxwell D. Solet; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.;
Legal Alert/Article
June 25, 2015, previously published on June 23, 2015
Treasury and IRS today announced a decision to withdraw the much-criticized portion of the notice of proposed rulemaking published in the Federal Register on September 16, 2013 (the “2013 Proposed Regulations”) related to the definition of issue price for tax-advantaged obligations and...

 

HTMLReturn of the Online Sales Tax
McDonald Hopkins LLC;
Legal Alert/Article
June 23, 2015, previously published on June 12, 2015
Rep. Jason Chaffetz (R-Utah), who chairs the House Oversight Committee, is preparing to introduce online sales tax legislation on Monday that would expand the power of states to collect taxes from purchases made from out-of-state Internet vendors such as eBay.

 

HTMLSenate Unveils Volumes of Changes to Budget
Michael Caputo, Rebecca M. Kuhns, Aaron M. Ockerman, Todd A. Snitchler; McDonald Hopkins LLC;
Legal Alert/Article
June 23, 2015, previously published on June 12, 2015
As discussed in yesterday’s Multistate Tax Update, this week the Ohio Senate Finance Committee accepted its first draft of the state’s two-year operating budget—which included numerous changes from the House proposal.

 

HTMLHouse Bill 15-1348-Urban Renewal - Frequently Asked Questions
Kimberley K. Crawford, Matthew O. Gray, Maria Prevedel Harwood, A. Ann Hered, Thane R. Hodson; Butler Snow LLP;
Legal Alert/Article
June 19, 2015, previously published on June 15, 2015
H.B. 15-1348 was signed by the Governor on May 29. The bill enacts several changes related to urban renewal authorities and tax increment financing for such authorities including governance changes and changes related to how much property tax increment will be available for an urban renewal...

 

HTMLIllinois Attorney General's Office Announces Intention to Dismiss False Claims Act Against Liquor Retailers
Yael D. Aufgang, Morgan R. Hirst, Mark P. Rotatori; Jones Day;
Legal Alert/Article
May 12, 2015, previously published on April 2015
More than 50 cases have been filed against out-of-state liquor retailers and other retailers pursuant to the Illinois False Claims Act ("FCA") in Cook County, Illinois Circuit Court in Chicago. These cases are currently pending before Circuit Court Judge James Snyder.

 

HTMLThe Rock or the Hard Place? South Carolina Issues Draft Guidance on Alternative Apportionment
Open Weaver Banks, Stephen A. Burroughs; Sutherland Asbill & Brennan LLP;
Legal Alert/Article
April 30, 2015, previously published on April 29, 2015
The South Carolina Department of Revenue requested public comment on a draft Revenue Ruling and a draft Revenue Procedure that detail how it will prospectively apply alternative apportionment to multistate taxpayers. This represents the Department’s second attempt at drafting alternative...

 

HTMLMassachusetts: Amazon to Receive Millions in Tax Credits for a New Fulfillment Center
David H. Godenswager, David M. Kall, Susan Millradt McGlone; McDonald Hopkins LLC;
Legal Alert/Article
April 21, 2015, previously published on April 16, 2015
Massachusetts Gov. Charlie Baker recently announced approval of an incentive package for a proposed expansion of an Amazon.com fulfillment center that will sit in both the City of Fall River and the Town of Freetown, in Bristol County. Officials expect it to be operational in late 2016. The...

 

Adobe PDFThree Things US Audit Committee Members Should Consider in 2015
David S. Bakst, Jason S. Bazar, John P. Berkery, Edward S. Best, Jennifer J. Carlson; Mayer Brown LLP;
Legal Alert/Article
April 14, 2015, previously published on January 23, 2015
Audit Committees are facing increased demands from many quarters heading into 2015, which expand their responsibilities, expose them to greater regulatory scrutiny and potential liabilities, and provide the basis for proxy and shareholder activists to oppose the re-election of Audit Committee...

 


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