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A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous... more +
A repository for the most well-read content on JD Supra at any given time, along with occasional roundups of popular content by specific topic. Also stop by for monthly recaps of hot articles for the previous thirty days. less -
Miller Canfield

One Big Beautiful Bill: Estate and Gift Tax Exclusion and the Generation-Skipping Transfer Tax Exemption Increases to $15 Million

Miller Canfield on

The One Big Beautiful Bill (OBBB), which passed on July 3 and was signed by President Donald Trump on July 4, increases the amount individuals may transfer for federal estate, gift, and generation-skipping transfer tax...more

Fisher Phillips

Employer Cheat Sheet for Workplace Laws Taking Effect July 1

Fisher Phillips on

Most employers are prepared for new laws at the start of each year – but did you know that a heap of new workplace laws take effect at the halfway point? Here’s your employer cheat sheet to prepare for July 1 effective dates…...more

Frost Brown Todd

TEFRA Approvals: Considerations for Officeholders When Approving Private Activity Bonds

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New officeholders often ask us to clarify their responsibilities when it comes to public approval of bonds and the consequences for states and their political subdivisions when they approve bonds as tax-exempt. What follows...more

Holtzman Vogel Baran Torchinsky & Josefiak

FinCEN Beneficial Ownership Reports Due Before the End of the Year

Holtzman Vogel Baran Torchinsky & Josefiak on

Under new rules that went into effect in 2024, certain business entities are now required to file Beneficial Ownership Information (“BOI”) Reports with the Financial Crimes Enforcement Network (“FinCEN”) of the U.S....more

Braumiller Law Group, PLLC

Wyoming’s DUNA Law – A Legal Framework for Non-Profit DAOs and Open-Source Blockchain Networks - Hot Topics in International Trade...

Braumiller Law Group, PLLC on

Decentralized Autonomous Organizations (DAOs) are a novel form of governance for blockchain-based protocols. Unlike traditional companies or non-profits, DAOs are member-controlled organizations that operate without a central...more

DarrowEverett LLP

When Florida's Transfer Tax Applies to Real Estate Deals: Handy Scenarios

DarrowEverett LLP on

Buyers and sellers of real property anticipate some tax consequences from a real estate transaction, but typically these concerns are limited to federal income tax implications. The reality is that most states impose various...more

Seyfarth Shaw LLP

Growing Clarity: FinCEN Continues to Update Beneficial Ownership Reporting FAQs

Seyfarth Shaw LLP on

On April 18, 2024, the Financial Crimes Enforcement Network (FinCEN) released further guidance regarding to Corporate Transparency Act compliance (CTA) by updating and expanding the Beneficial Ownership Information Reporting...more

Bowditch & Dewey

Massachusetts Tax Reform Enacted – Estate Tax Exemption Increase and Other Help for Residents

Bowditch & Dewey on

The long-awaited Massachusetts tax reform package was signed by Governor Maura Healey on Wednesday, October 4, 2023. Among the provisions: Estate Tax Reform: Establishes a non-refundable credit of $99,600 for each estate,...more

Husch Blackwell LLP

Texas Legislature Revises Law Governing Public Facility Corporations

Husch Blackwell LLP on

On June 18, 2023, HB 2071—the Texas legislature’s solution to perceived abuses of property tax incentives related to Public Facility Corporations (PFCs)—took effect. The law amends Local Government Code Chapter 303, which...more

Troutman Pepper Locke

‎2023 Changes to Texas Law: Property ‎Tax Exemption for Public Facility Corporations Owning ‎Affordable Housing

Troutman Pepper Locke on

The 88th Regular Session (2023) of the Texas Legislature approved HB 2071 (the “Bill”), substantially revising the way public facility corporations can be utilized to own and operate affordable housing. While some provisions...more

Lowenstein Sandler LLP

Preparing Your Company for FinCEN’s Beneficial Ownership Reporting Requirements

Lowenstein Sandler LLP on

On September 29, 2022, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the Corporate Transparency Act’s (CTA) beneficial ownership information (BOI) reporting requirements...more

Morgan Lewis

Kazakhstan Stock Exchange: Significant Change to Taxation of Dividends on Certain Shares

Morgan Lewis on

The rules for taxation of dividends in respect of shares that are included in the official listing of a stock exchange in Kazakhstan will significantly change as of 1 January 2023....more

White & Case LLP

Top considerations –EMEA Tax trends impacting Private Equity Real Estate in 2021

White & Case LLP on

White & Case has advised a large number of high-profile international clients on cutting-edge, cross-border and domestic private equity real estate deals, providing valuable strategic tax insight to a broad range of investors...more

Polsinelli

Impact Of President Biden’s Tax Plan On Estate Planning

Polsinelli on

With Democratic control of the White House and Congress, there has been much speculation on what President Biden’s tax proposal will look like, as well as the likelihood that President Biden’s tax plan will be enacted into...more

Tonkon Torp LLP

PPP Round 2: Nonprofit Eligibility, Application Deadline, And Tax Impacts

Tonkon Torp LLP on

Shortly before the end of the bizarre and painful 2020 calendar year, the Consolidated Appropriations Act for 2021 (the Act) was signed into law, providing an additional $284 billion appropriation for the Paycheck Protection...more

Miller Canfield

Qatar Financial Centre Issues New Tax Exemption for Defense and Security Companies

Miller Canfield on

The Qatar Financial Centre Authority ("QFCA") Tax Department have issued a Concessionary Statement of Practice (the "Statement") providing for an exemption to Qatar Financial Centre ("QFC") companies performing contracts in...more

Morgan Lewis

IRS to Organizations Seeking 501(C)(3) Exempt Status: Charitable Means Charitable

Morgan Lewis on

The Internal Revenue Service (IRS) on October 9 released a denial letter issued to an organization seeking exemption under Section 501(c)(3) to operate a program to “to deploy capital into projects that promote a social good...more

Holland & Knight LLP

NBAA, NATA Submit Comments to IRS on Excise Tax Exemption for Business Aircraft Management Services

Holland & Knight LLP on

The National Business Aviation Association (NBAA) joined with the National Air Transportation Association (NATA) to submit to the Internal Revenue Service (IRS) and the U.S. Department of the Treasury on Sept. 29, 2020,...more

Sunstein LLP

Businesses Beware: Don’t Restrain Former Employees by Exaggerating Your Trade Secret Claims

Sunstein LLP on

The First Circuit seldom delivers opinions on trade secret claims, so employers should pay extra-close attention to the lessons to be learned from the court’s recent decision in TLS Management v. Rodríguez-Toledo...more

Farrell Fritz, P.C.

Biden’s Tax Proposals For Capital Gain, Like Kind Exchanges, Basis Step-Up & The Estate Tax – Tough Times Ahead?

Farrell Fritz, P.C. on

“The board is set. The pieces are moving. We come to it at last.” With these words, Gandalf the White acknowledged that the decisive battle for control over Middle Earth had been joined. So it is now for the U.S....more

Dickinson Wright

Tax Tip for Tax-Exempt Hospitals: IRS Relief for the Community Health Needs Assessments Requirements

Dickinson Wright on

Recognizing the increased burdens that the COVID-19 pandemic has placed on hospitals, the IRS has relaxed its deadline for meeting the Community Health Needs Assessments (CHNA) requirements per Internal Revenue Code Section...more

Faegre Drinker Biddle & Reath LLP

IRS Denies 501(c)(3) Exemption to Insurance Provider

Faegre Drinker Biddle & Reath LLP on

On April 10, the Internal Revenue Service (IRS) released LTR 202015035, a final adverse determination letter for an applicant seeking recognition of exemption under Internal Revenue Code Section 501(c)(3). The IRS denied...more

McDermott Will & Schulte

Weekly IRS Roundup December 16 – 20, 2019

McDermott Will & Schulte on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 16 – 20, 2019. December 16, 2019: The IRS released a notice extending the phase-in...more

Dickinson Wright

The Federal Transfer Tax Exemption: Increased Amount But Less Time to Use It

Dickinson Wright on

Earlier this month, the IRS announced the cost of living adjusted (“COLA”) amount of the exemption applicable to transfers in 2020 that are subject to gift, estate, and generation-skipping transfer (“GST”) taxes (i.e.,...more

Orrick, Herrington & Sutcliffe LLP

Tax Relief for Replacing LIBOR in Tax-Exempt Debt and Swaps

Orrick, Herrington & Sutcliffe LLP on

Many tax-exempt bonds and related hedges, such as interest rate swaps ("Exempt Instruments"), use a LIBOR-based interest rate. LIBOR is going away, and existing Exempt Instruments are going to have to be modified to replace...more

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