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Freeman Law

2025 Texas Legislative Update | Exemption from Oil and Gas Severance Tax for Certain Restimulation Wells

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Among the laws enacted by the 89th Texas Legislature was HB 3159, which provides an exemption from oil and gas severance taxes for certain restimulation wells....more

Mintz - Tax Viewpoints

2024 Pre-Election Analysis: Tax Issues

Mintz - Tax Viewpoints on

As the 2024 general election draws near, one of the central issues capturing the attention of voters and lawmakers alike is the future of tax policy. With the two presidential candidates offering a range of proposals and...more

Woods Rogers

Worker Misclassification: Getting Right with the IRS

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About a year ago, I wrote an article on Virginia’s new initiative to address worker misclassification regarding employment and income taxes. The Virginia program is an enforcement initiative backed by substantial penalties....more

McDermott Will & Emery

The 90 Percent Test

McDermott Will & Emery on

Since coming into effect in January 2018, Subchapter Z of the US Tax Code—also known as the opportunity zone provisions—has enabled investors to pour billions of dollars into a broad array of businesses, from real estate...more

Davis Wright Tremaine LLP

Senate Finance Committee Advances Emissions-Based Overhaul of U.S. Energy Tax Code

On May 26, 2021, the Senate Finance Committee advanced the Clean Energy for America Act (S1298, 117th Congress) to the full Senate on a party-line vote. The legislation, which is a component of President Biden's Build Back...more

Rivkin Radler LLP

New York Is Getting Out Of The Zone, The Qualified Opportunity Zone, That Is

Rivkin Radler LLP on

New York’s Governor Cuomo is having a bad 2021. Some may attribute this to his hubris or to karma; others may point to an emboldened, and now veto-proof, progressive State Legislature; many will claim that Mr. Cuomo is paying...more

Lowndes

Important Year End Deadline for Opportunity Zones

Lowndes on

Opportunity zones provide a powerful tool for taxpayers to defer recognizing their capital gains if they roll over their investment into a qualified opportunity zone fund, and offer investors the potential of avoiding...more

White & Case LLP

Mexico 2020 Tax Reforms

White & Case LLP on

The Mexican Congress approved with some adjustments the Tax Bill presented by the President on September 8, 2019, that included a proposal of Decree through which various provisions of the Income Tax Law, the Value Added Tax...more

Brooks Pierce

Investing In Qualified Opportunity Funds

Brooks Pierce on

The Tax Cuts and Jobs Act signed on Dec. 22, 2017, amended the tax code to encourage economic growth and investment in designated distressed communities, called qualified opportunity zones, by providing federal income tax...more

Holland & Knight LLP

Opportunity Zone Investments: What You Need to Know and Potential Scenarios - A New Opportunity for Investors to Defer Taxable...

Holland & Knight LLP on

• The Internal Revenue Service (IRS) on Oct. 19, 2018, issued much anticipated proposed regulations (the Proposed Regulations) and other guidance on tax benefits arising from investments in "qualified opportunity zones" that...more

Verrill

New Tax Credit for Paid Leave – Part 2: IRS Issues Helpful Guidance

Verrill on

As expected, the IRS recently issued additional guidance concerning the new paid leave tax credit codified as Code Section 45S. The guidance, set forth in IRS Notice 2018-17, is presented in the form of 34 questions and...more

Littler

IRS Updates Guidance on Paid Family Leave Tax Credit

Littler on

On September 24, 2018, the IRS issued updated guidance in Notice 2018-71 (the Notice) on Internal Revenue Code section 45S, the business tax credit for employers that provide paid family and medical leave (the Credit). ...more

Akin Gump Strauss Hauer & Feld LLP

Opportunity Zones: How Communities Can Leverage This New Provision to Jumpstart Investment

• Even though practitioners are awaiting proposed regulations on the new opportunity zone provision, interested parties are already starting to set up qualified opportunity funds to pool investor capital. • States, cities,...more

Fenwick & West LLP

US Taxation of IP After Tax Reform

Fenwick & West LLP on

Introduction - U.S. taxation of intellectual property has become astoundingly more complex after the Tax Cuts and Jobs Act. The new rules are so complex that the IRS and Treasury are still figuring out the details of how...more

Bradley Arant Boult Cummings LLP

Alabama Legislature Signals Reexamination of Tax Incentives and Exemptions: State and Local Tax Alert: Alabama Edition

Following a contentious special session in which multiple proposals for a state-wide lottery were debated then abandoned, the Alabama Legislature adjourned on September 7 after approving an approximate $640 million bond issue...more

Morgan Lewis

Russia’s New Advanced Development Territories Law: Far East Focus

Morgan Lewis on

An initiative to spur investment in this underdeveloped region. Amid the ongoing loud noise surrounding the situation in Ukraine (and in Syria) and the related sanctions and counter-sanctions, a new Russian development...more

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