Latest COST Conscious

ISSUE 24-25; December 13, 2024

Preparing for an Active 2025 – The softening of state revenues and the plethora of bills already prefiled for the 2025 session in many states indicate that 2025 will be a very active year for SALT legislation. Although 2024 was relatively quiet, there was some notable state legislation introduced that is likely to resurface in 2025. Which of the following would have the greatest negative impact on

Latest Legislative Alert

ISSUE 25-03; January 21, 2025

Maryland Introduces Combined Reporting, Corporate Rate Reduction Bills; Hawaii Introduces a Flurry of Mandatory Worldwide Combined Reporting Bills

Latest Practitioner Connection

ISSUE 25-02; January 24, 2025

2024’s Most Interesting State Tax (MIST) Developments – The authors are excited to present their summary of last year’s SALT highlights, recently featured in Tax Notes State. They hope you enjoy their take on 2024’s Most Interesting State Tax (MIST) developments. Jeffrey Friedman, Daniel Schlueter, Madison Ball, and Periklis Fokaidis, Eversheds Sutherland (US) LLP, January 21, 2025.

BLOOMBERG TAX

Trump Administration Directs Federal Agencies to Fire DEI Staff

January 24, 2025

The Trump administration Friday ordered the heads of federal agencies to cut federal employees who worked on diversity, equity, inclusion, and accessibility programs.

IRS, Booz Allen Face Possible Class Action for Littlejohn Leaks

January 24, 2025

A Maryland company whose records were of the thousands accessed by a Booz Allen Hamilton Inc. contractor working for the IRS hopes to establish a class action against the IRS.

Supreme Court to Weigh Tax-Supported Religious School Case (1)

January 24, 2025

The US Supreme Court accepted a major new church-state showdown, agreeing to consider whether states with public charter schools are constitutionally required to approve and fund religious institutions as part of the taxpayer-supported program.

New York Prepares to Adopt Federal Partnership Audit Regime

January 24, 2025

New York is headed toward conformity with the federal centralized partnership audit regime under a proposal embedded in Gov. Kathy Hochul’s (D) fiscal year 2026 budget.

Ad Tax Comports With Speech Protections, Maryland Tells Judges

January 24, 2025

The “pass-through provision” of Maryland’s digital advertising tax falls outside the First Amendment's protections because it only regulates speech that is integral to conduct prohibited by the act, the state told the Fourth Circuit Friday.

Convicted Tax Preparer Stumbles in Evidence Admittance Challenge

January 24, 2025

The owner of a shuttered tax return preparation business failed to show that the admittance of his own fraudulent returns into evidence at his criminal trial was improper, the Third Circuit said Friday.

UK Cartoon Show Makers Blocked From Getting Investor Tax Relief

January 24, 2025

A UK court has rejected an appeal by makers of an animated children’s show seeking tax relief for sales of the production firm’s shares.

T-Mobile Wins Lower Missouri Property Tax Bill on Cell Towers

January 24, 2025

A T-Mobile unit convinced a Missouri tribunal on Friday to decrease the value of their two cell tower sites for tax purposes.

NY Senate Budget Chair Blasts $3 Billion in ’Absurd’ Tax Breaks

January 24, 2025

New York provides $3 billion in "questionable, arbitrary and downright absurd" tax breaks every year, state Sen. Andrew Gounardes, chair of the Committee on Budget and Revenue, said in a new report.

State of Tax: CarMax Fights Tax Bill, New York Budget Unveiled

January 24, 2025

The week in state tax news: Used auto dealership chain CarMax is asking a court to throw out a multimillion-dollar tax bill in South Carolina. Meanwhile, New York Gov. Kathy Hochul's proposed budget includes tax cuts that will have to be negotiated with a cautious legislature, and neighboring Connecticut Gov. Ned Lamont is dangling tax cuts for AI startups.