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Tax Exemptions

Fisher Phillips

Employer Impact Guide to the Supreme Court’s 2024-2025 Term: 12 Cases That Reshaped Your Workplace, Industry, or Litigation...

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As the Supreme Court prepares for its next term to begin October 6, let’s look back on all the SCOTUS cases from the past year that impacted your workplace, industry, and litigation exposure. Here’s a quick guide to 12 times...more

Snell & Wilmer

Local Taxation on Tribal Land in Arizona: An Update

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On June 30, 2025, the United States Supreme Court denied certiorari in an Arizona taxation case involving tribal sovereignty and preemption. South Point Energy Center, LLC (South Point) submitted a Petition for a Writ of...more

Winthrop & Weinstine, P.A.

Unlocking Tax Breaks for Small Business Owners: How Section 1202 Can Help You Exclude Millions in Gains

Significant changes in the One Big Beautiful Bill Act (“H.R. 1”) have made Section 1202 of the Internal Revenue Code an even more valuable tax break for small business owners and investors. These updates expand who can...more

Holland & Knight LLP

Georgia Legislative Session Brings Changes to Code Affecting Commercial Real Estate

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During the 2025 legislative session, the Georgia General Assembly passed several amendments to existing legislation that may affect clients' commercial real estate interests or compliance with local regulations. Following is...more

Husch Blackwell LLP

Missouri Irrevocable Trusts Are Now State Tax-Free (Almost)

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On August 28, 2025, Missouri House Bill 754 (HB 754), which was signed by Governor Mike Kehoe on July 10, 2025, will become law, introducing a pivotal change to the state’s tax code concerning non-grantor resident trusts. ...more

Morgan Lewis

Estate Tax Alert: New $15 Million Federal Exemption Becomes Law

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Due to the One Big Beautiful Bill Act, the federal estate tax exemption will increase to a new, “permanent” $15 million exemption as of January 1, 2026. At the end of 2025, the historically high gift, estate, and...more

Buckingham, Doolittle & Burroughs, LLC

Ohio Sales / Use Tax: BTA Determines Utility Poles Used for Camera Enforcement Were Business Fixtures, Not Real Property, and...

Since the poles were personal property (i.e., business fixtures), the taxpayer’s purchase was subject to Ohio sales / use tax unless an exemption applied. In Conduent State & Local Solutions, Inc. v. Harris, Ohio BTA Case No....more

Hone Maxwell

Stacking QSBS: Using Trusts to Maximize the §1202 Exclusion

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The Section 1202 exclusion is one of the most valuable tax planning tools available to U.S. business owners and investors. It allows a non-corporate taxpayer (e.g., an individual or trust) to eliminate federal capital gains...more

Dickinson Wright

Ohio Department of Development Updates QEP PILOT Construction Reporting Process

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The Ohio Department of Development (“ODOD”) has made some changes to documents provided by renewable energy projects that have received certification as a Qualified Energy Project (“QEP”) in the Payment in Lieu of Taxes...more

Sullivan & Worcester

The O3BA -- Mixed Incentives for Charities and Their Donors

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The One Big Beautiful Bill Act (the “O3BA”), signed into law on July 4, 2025, affects charitable donors and the organizations they support. While most relevant provisions apply for tax years beginning on or after January 1,...more

Pierce Atwood LLP

The One Big Beautiful Bill Act and Estate Planning: What You Need to Know

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The One Big Beautiful Bill Act (“OBBBA” or the “Act”), signed into law on July 4, 2025, made permanent changes to federal estate, gift and generation-skipping transfer (GST) taxes...more

Freeman Law

A Look at the Texas Charitable Organizations Property Tax Exemption

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Some – but not all – nonprofit organizations in Texas may enjoy exemption from certain of the omnipotent and ubiquitous tax regimes. Indeed, the property tax exemption opportunity for Texas nonprofit organizations is the...more

Vorys, Sater, Seymour and Pease LLP

Ohio Budget 2026-2027 - Sales and Use Tax Update

On June 30, 2025, Governor Mike DeWine signed Am. Sub. House Bill 96 (H.B. 96 or the Budget Bill) into law. The Budget Bill covers fiscal years 2026–2027. It includes several changes to R.C. 5739 and R.C. 5741, the Ohio...more

Vorys, Sater, Seymour and Pease LLP

Scope of Ohio Commercial Activity Tax Agency Exclusion Remains Unsettled Following Ohio Supreme Court’s Decision in Aramark Corp....

Aramark provided food service operations to various clients (e.g., hospitals, universities, corporations, sports arenas, etc.). The clients paid Aramark a management fee. In addition, the clients reimbursed Aramark for the...more

Vorys, Sater, Seymour and Pease LLP

Ohio Supreme Court Doubles Down on Applying a Plain and Ordinary Meaning to Sales Tax Exemptions

On August 13, 2025, the Ohio Supreme Court overturned the Ohio Board of Tax Appeals (BTA) and the Ohio Tax Commissioner in Claugus Fam. Farm, L.P. v. Harris, 2025-Ohio-2807, Slip Opinion No. 2025-Ohio-2807, thereby allowing...more

Frost Brown Todd

Section 1202 and QSBS: A Survey of States That Don’t Conform to the Federal Treatment

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Section 1202 of the Internal Revenue Code provides a capital gains exclusion for certain qualified small business stock (QSBS) when a stockholder sells the same. This gain exclusion impacts venture-backed startups, angel...more

Rivkin Radler LLP

The Uncharitable Treatment of Tax-Exempt Charities? Maybe, Maybe Not

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In the tax world, when someone refers to a “charitable” organization, it is likely they are using the term in its generally accepted legal sense to include not-for-profit corporations or charitable trusts that are organized...more

Tarter Krinsky & Drogin LLP

New Tax Law Increases the Benefits for Qualified Small Business Stock

Benefits Offer Enhanced Tax Exclusions and Eligibility for Founders, Early Employees, and Investors- The recently enacted One Big Beautiful Bill Act makes several taxpayer-friendly revisions to the rules governing Qualified...more

Freeman Law

What is an Integrated Auxiliary of a Church?

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Under Section 508 of the Internal Revenue Code, churches, their integrated auxiliaries, and conventions or associations of churches are not required to apply for recognition as a tax-exempt organization under Section...more

Cozen O'Connor

What Canadian High Net Worth Families Should Know About the U.S. One Big Beautiful Bill

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The United States recently passed tax legislation called the One Big Beautiful Bill Act (OBBBA), a follow-up to the 2017 Trump tax cuts. While the bill is American, many Canadian families with cross-border ties, including...more

Hughes Hubbard & Reed LLP

Trump Law’s Estate Tax Exemption Is a Boon for Wealth Planning

President Donald Trump’s massive tax-and-spending package requires attention from both individuals and estate planners to advance their estate and income tax planning objectives. Originally Published by Bloomberg Law. ...more

Fisher Phillips

How Will Non-Profits Be Impacted by the Big Beautiful Bill? Your Guide to Key Changes Affecting Charitable Giving, Excise Taxes,...

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President Donald Trump signed a massive budget bill last month – the “One Big Beautiful Bill Act” (OBBBA) – and it significantly impacts non-profits and tax-exempt organizations. While some of the new changes may be...more

Kilpatrick

5 Key Takeaways | Basics of Sales and Use Tax

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Kilpatrick’s David Hughes recently spoke at the 2025 Sales Tax Institute in Chicago. He addressed numerous issues related to sales and use tax....more

Cozen O'Connor

Broad Street Brief: City Supports Small Businesses as Tax Break Ends

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City Offers Support for Small Businesses as Tax Exemption is Phased Out -Philadelphia is supporting small businesses through flexible payment plans, free tax assistance, and access to grants as it phases out a longstanding...more

Orrick, Herrington & Sutcliffe LLP

To Infinity and Beyond! A New Tax-Exempt Bond to Finance Spaceports

The One Big Beautiful Bill Act, signed into law on July 4, authorizes tax-exempt bond financing for spaceports, treating them similarly to bonds issued by public authorities for airport improvements. This new category of...more

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