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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

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

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

Littler

Recent U.S. Tax Court Opinion Illustrates How Language in Settlement Agreements Can Determine Tax Treatment of Payments

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In Mennemeyer v. Commissioner,1 the United States Tax Court reminds us that a settlement agreement that is not carefully drafted can have significant tax consequences....more

Haynes Boone

Federal Estate, Gift and GST Tax Highlights from the One Big Beautiful Bill Act

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The recently enacted One Big Beautiful Bill Act (OBBBA) brings sweeping and permanent changes to the federal estate, gift and generation-skipping transfer (GST) tax landscape. Most notably, it significantly increases the...more

Patterson Belknap Webb & Tyler LLP

The One Big Beautiful Bill: Top Tax Takeaways for Nonprofits

President Trump’s sweeping package of domestic legislation, H.R. 1 (originally titled the One Big Beautiful Bill Act (the “OBBB”)), became law on July 4, 2025. In addition to dramatically reshaping the landscape for...more

Ruder Ware

One Big Beautiful Bill Act: Stay Tuned for Our Client Alert Series

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As you may be aware, on July 4, 2025, a landmark piece of tax legislation – commonly referred to as “One Big Beautiful Bill Act” – was signed into law, ushering in some of the most significant changes to the tax code in...more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

Estate Planning and Estate Administrations During Economic Downturns

In uncertain economic times, many individuals are concerned about the value of their investments, and for good reason. When the stock market dips or real estate prices fall, the effect isn’t just felt in personal investment...more

Eversheds Sutherland (US) LLP

Tax considerations for institutional payments and Fontenot update

As of July 1, 2025, institutions are permitted to make direct payments to student-athletes. Of the many issues raised by institutional payments to student-athletes, tax considerations may not be getting enough attention....more

Partridge Snow & Hahn LLP

Rhode Island Nonprofits – Reminder to Meet Your Sales Tax Exemption Filing Deadline

Rhode Island nonprofits holding sales tax exemption certificates are reminded to file their renewal applications before the upcoming deadlines to maintain their tax-exempt status and comply with updated requirements. Sales...more

Morgan Lewis

Taxation of Income from Capital Gains Under New Tax Code of Kazakhstan

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Anticipated to be finalized and adopted in July 2025, the new tax reforms for Kazakhstan would go into effect in January 2026. This LawFlash summarizes the taxation of income from capital gains when selling shares and...more

Pierce Atwood LLP

New Rhode Island Tax on Non-Owner-Occupied Properties Assessed at $1 Million or More

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Rhode Island’s 2026 budget bill contains a "Non-Owner-Occupied Property Tax Act," which is popularly referred to as the “Taylor Swift Tax.” This law imposes a new statewide tax on non-owner-occupied residential properties...more

Alston & Bird

Navigating the Complexities of VEBA Asset Reallocation: Comprehensive Tax and ERISA Fiduciary Considerations

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Our Employee Benefits & Executive Compensation Group discusses how employers can use voluntary employees’ beneficiary association (VEBA) asset reallocations while meeting ERISA fiduciary obligations....more

Farella Braun + Martel LLP

REFRESH Five Tax Traps for Business Lawyers Advising Nonprofit Organizations

Welcome to EO Radio Show – Your Nonprofit Legal Resource. Many nonprofits today are worried about recent federal actions that may bring governmental scrutiny to their stated charitable mission and activities, such as audits,...more

Mandelbaum Barrett PC

The High Cost of Delay: Why Ultra-High-Net-Worth Families Must Act Now on Estate and Asset Protection

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For ultra-high-net-worth individuals (UHNWIs) whose estates far exceed the 2025 federal lifetime exemption of $13.99 million per person, the stakes for estate and asset protection planning have never been higher-or more...more

McCarter & English, LLP

Tax Planning for Sports Franchise Owners, and the Rest of Us

Jim Irsay, the longtime owner and CEO of the Indianapolis Colts, died unexpectedly in May 2025. Irsay leaves behind not only a legacy in the NFL but also a sports franchise valued at approximately $4.4 billion. As Irsay’s...more

Orrick, Herrington & Sutcliffe LLP

Increasing Frequency of Incorrect IRS Notices to Tax-Exempt Bond Issuers Raises Concerns

In recent months, issuers of tax-exempt bonds have been facing an unexpected challenge: incorrect notices from the Internal Revenue Service (IRS) claiming that their Forms 8038 are being filed without the required signature....more

Steptoe & Johnson PLLC

Can the IRS Revoke a University's Tax-Exempt Status Overnight?

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As a result of President Trump’s recent social media posts regarding Harvard University’s tax-exempt status, some institutions of higher education (IHE) have expressed concerns over whether the Internal Revenue Service (IRS)...more

Proskauer - Tax Talks

The One Big Beautiful Bill: Relevant Provisions for Nonprofits

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On May 12, 2025, the House Ways and Committee released an updated text of draft tax legislation (the “House Draft Bill”)...more

Mintz - Tax Viewpoints

Summary of Proposed Section 899 of the US Internal Revenue Code and Its Impact on Section 892 Benefits and Tax Treaties

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Proposed Section 899, introduced as part of the “Defending American Jobs and Investment Act” (H.R. 591) and incorporated into the House Ways and Means Committee’s tax package titled “The One, Big, Beautiful Bill” (the...more

Kaufman & Canoles

Estate Planning - More Than Just a Will

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Considering your incapacity or death can feel overwhelming, but thoughtful estate planning can provide peace of mind and ensure your goals are carried out. Thoughtful estate planning often involves more than simply a...more

Hogan Lovells

UK VAT on insurance intermediary services – exemption expanded?

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The Court of Appeal (CA) in WTGIL Ltd v HMRC [2025] EWCA Civ 399 considered the scope of the VAT exemption for services supplied by insurance intermediaries. The case concerned motor insurance for young drivers which required...more

Blank Rome LLP

Cannabis ESOPs Provide Solutions for Operators

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As we enter Q2 of 2025, the cannabis industry has become increasingly pessimistic about the elimination of Section 280E of the Internal Revenue Code, whether via rescheduling or otherwise. Rescheduling appears unlikely in the...more

Fox Rothschild LLP

Harvard University’s Tax-Exempt Status Called Into Question

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On Tax Day, President Trump publicly advocated for revoking Harvard University's tax-exempt status because Harvard rejected an “agreement in principle” the Trump administration proposed to settle disagreements over the...more

Allen Matkins

The Possible Securities Act Implications Of Harvard's "Nyet" To Government Civil Rights Reform Demands

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Last week, the United States General Services Administration, Department of Education, and Department of Health and Human Services sent a letter to Alan M. Garber, the President of Harvard University, and Penny Pritzker, Lead...more

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