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Tax Planning Fees Income Taxes

Holland & Knight LLP

AbbVie's Tax Triumph: Breaking Free from Capital Loss Limitations

Holland & Knight LLP on

In a significant win for taxpayers, the U.S. Tax Court recently ruled in AbbVie Inc. v. Commissioner, Docket No. 2597-23, that a $1.6 billion "Break Fee" paid by AbbVie qualifies as an ordinary and necessary business expense...more

Stinson LLP

Minnesota Revenue Department Issues Notice on Surplus Lines Insurance Taxation

Stinson LLP on

The Minnesota Department of Revenue recently published a revenue notice to clarify how brokers of surplus lines insurance policies should calculate the total amount of insurance premiums that are subject to taxation,...more

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