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Pro Athletes Beat Pittsburgh Jock Tax at State High Court

Professional athletes convinced the Pennsylvania Supreme Court Thursday to strike down a tax the city of Pittsburgh imposed on visitors who earn money at public stadiums.

AT&T, Sprint, T-Mobile Lose California County Tax Rate Challenge

AT&T, Sprint, T-Mobile, and other telecommunication companies’ affiliates failed to convince a California appeals court that Riverside County violated the state constitution by imposing different tax rates for their utility and non-utility property.

Humana Pharmacy Unit’s Income Taxable in Minnesota, Justices Say

Humana Inc. failed to convince the Minnesota Supreme Court on Wednesday that pharmacy benefits management services one subsidiary provided to another aren’t taxable in the state because they were received in Wisconsin.

Mamdani Draws NYC Investors to Advise Him If Elected Mayor

Members of New York City’s business community are forming an advisory group in an effort to guide mayoral candidate Zohran Mamdani if he wins the election in November.

Virginia Poised to Send $400 Tax Rebate Checks to Joint Filers

Virginia taxpayers will begin receiving rebate checks of $200 for individual filers and $400 for joint filers in a few weeks under the state’s one-time tax relief program, Gov. Glenn Youngkin (R) announced Wednesday.

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California Cannabis Excise Tax Cut Would Be a Welcome Change

Sam Imandoust

RJS Law

NY, NJ SALT Cap Ruling Poses Risks for States’ Charitable Funds

Michael Puzyk

McCarter & English

California Business Deals Freeze When Tax Audits Enter Picture

David Klasing

Tax Law Offices of David W. Klasing

Latest Stories

MGM’s $2.3 Billion New York Casino Proposal Wins Key Support

MGM Resorts International’s proposal for a $2.3 billion expansion of its Empire City Casino in Yonkers, New York, will advance to a state board after clearing a key vote by a local advisory committee.

By Patrick Clark and Annika Inampudi

Virginia Poised to Send $400 Tax Rebate Checks to Joint Filers

Pro Athletes Beat Pittsburgh Jock Tax at State High Court

Professional athletes convinced the Pennsylvania Supreme Court Thursday to strike down a tax the city of Pittsburgh imposed on visitors who earn money at public stadiums.

Mellon Heir’s Estate Denied $29 Million Pennsylvania Tax Refund

Billionaire Richard Scaife’s estate owes Pennsylvania $29 million in inheritance taxes on a $200 million settlement resolving his children’s claims to the Mellon banking, oil, and aluminum fortune, a state appeals court affirmed.

AT&T, Sprint, T-Mobile Lose California County Tax Rate Challenge

NJ School District Downgraded After Bankruptcy Threat

The Toms River Regional School District had its bond rating dropped one notch by S&P Global Ratings, a move that comes after school officials threatened to file for bankruptcy.

EU Publishes Guidance for Implementing VAT Overhaul Law

The European Commission provided guidance for countries Wednesday on implementing an overhaul of the way value-added taxes are applied across the bloc.

Hashing Out US-World Tensions on ‘Side-by-Side’ Global Tax Deal

In this episode of Talking Tax, Bloomberg Tax reporters Saim Saeed and Lauren Vella hash out countries’ frustrations over global minimum tax exemptions and discuss the feasibility of coming to an agreement on a “side-by-side” system by Dec. 31, the deadline suggested by the Trump administration.

Humana Pharmacy Unit’s Income Taxable in Minnesota, Justices Say

Rhode Island Health Center Faces Doubtful Court Over Tax Break

The Rhode Island Supreme Court on Wednesday indicated it may deny Providence Community Health Centers Inc.'s claim for a property tax exemption on one of its buildings located outside its headquarters.

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S&P 500 Set for Longest Losing Streak in a Month: Markets Wrap

Stocks fell as valuation worries overshadowed data showing the economy is holding up. The figures didn’t have much of an impact on Federal Reserve bets, but bond yields kept rising after a weak Treasury sale.

Matt Levine’s Money Stuff: Quantum Bond Trading

Also trend following, stablecoin reversals, crypto payments and free-riding.

Ambipar Gets Emergency Court Protection as Creditors Pounce (1)

Brazilian waste-management company Ambipar Participações e Empreendimentos SA was granted emergency protection against creditors after telling a court it was at risk of financial collapse — capping a bruising month that drove its bonds to record lows.

Heineken Sells €2 Billion of Bonds for Its FIFCO Buyout (2)

Heineken NV sold €2 billion ($2.35 billion) of bonds to help finance its acquisition of Florida Ice and Farm Company’s beverage and retail businesses.

Starbucks Store Closures Get Shrug With Investors Wanting More

Starbucks Corp. Chief Executive Officer Brian Niccol has spent a lot of his first year making cosmetic changes — including bringing back ceramic mugs — in a bid to revive the world’s largest coffee chain.

Google Backs Crypto Miner Deal In Rush for AI Data Centers (1)

Alphabet Inc.’s Google has agreed to anchor a $3 billion data center contract with Cipher Mining Inc. in the latest tie up between a crypto mining firm and a big tech company seeking computing resources for artificial intelligence.

OECD Tax Deal Delays Spur Countries’ Embrace of Digital Taxes

Government decisions to impose digital services taxes on tech companies have been prompted in part by a lack of progress in global negotiations at the OECD, practitioners, academics and tax authority officials said Thursday.

UK Sees Corporate Tax Receipts Tick Up Again in 2024-25

The UK’s corporate tax receipts continued their upward climb last year, albeit at a slower rate than in recent years, according to data published Thursday.

IRS CCA: Change in Controlled Participants Not Material Change in Scope of a CSA (IRC §482)

The Chief Counsel’s Office advised on whether a change in one or more of the controlled participants in a cost sharing arrangement (CSA) constitutes a “material change in the scope ...

Economic Luminaries Enter Legal Battle Over Fed Independence (1)

A bipartisan group of former Treasury secretaries, Federal Reserve chairs and other experts urged the US Supreme Court not to let President Donald Trump fire Fed Governor Lisa Cook, arguing that the health of the economy is at stake.

Buyers of Dubious Tax Credits to Move Claims Against Sponsor

A Florida couple has withdrawn its lawsuit against the company selling tax credits the IRS and Treasury Department have said don’t exist, and plans to instead pursue claims in arbitration.

S. African Consumer Mood Darkens as Lack of Jobs, Taxes Bite (1)

South African consumer confidence fell in the third quarter as middle-income household finances came under strain amid higher personal income taxes and the fading impact of early pension fund withdrawals.

Czech Republic, Kenya Sign DTA

The Czech Republic Ministry of Finance Sept. 23 announced the same date signing of a DTA with Kenya. [Czech Republic, Ministry of Finance, 09/23/25]

New Zealand Parliament Announces Royal Assent for Income Tax (FamilyBoost) Amendment Act 2025

The New Zealand Parliament Sept. 23 announced royal assent for Public Act No. 50/2025, on Income Tax (FamilyBoost) Amendment Act 2025. The law includes measures: 1) increasing, to 40 percent ...

Croatia Parliament Considers Bill to Amend Income Tax Act

The Croatian Parliament (Sabor) Sept. 23 accepted for consideration Bill No. PZ 194, to amend the Income Tax Act. The bill includes measures to: 1) add pension income based on ...

Brazil-India Third Protocol to 1988 DTA to Enter Into Force

The Brazilian Ministry of Foreign Affairs Sept. 24 announced that the third protocol to the 1988 DTA with India, signed Aug. 24, 2022, enters into force Oct. 18, 2025. [Brazil, ...

Guernsey Gazettes Ordinance Ratifying DTA with Bahrain

The Guernsey Official Gazette Sept. 3 published an ordinance ratifying the DTA with Bahrain, signed Sept. 29, 2024. The ordinance enters into force Sept. 5. [Guernsey, Government Legal Database, 09/03/25] ...

Austria MOF Clarifies Individual Income Tax, Input VAT Deductions Related to Rental Income

The Austrian Federal Ministry of Finance Sept. 23 posted online Federal Finance Court Decision No. RV/7102420/2020, clarifying individual income tax and input VAT deductions related to rental income. The taxpayer, ...

Economic Luminaries Enter Legal Battle Over Fed Independence (1)

Wall Street Bankers Cut the ‘Fluff’ Out of Transition Deals (1)

Never before has New York climate week attracted so many people. And never before have the bankers attending been so keen to distance themselves from the traditional framing of climate finance.

Fastly Investors Advance Suit Over Decelerating Growth, Selloffs

Fastly Inc. investors have adequately alleged securities fraud claims over one statement by the cloud platform company that its growth wasn’t slowing, a federal court ruled.

Buyers of Dubious Tax Credits to Move Claims Against Sponsor

A Florida couple has withdrawn its lawsuit against the company selling tax credits the IRS and Treasury Department have said don’t exist, and plans to instead pursue claims in arbitration.

Companies Reporting Emissions Gain Flexibility From Global Board

Companies reporting their greenhouse gas emissions under national regimes have gained more flexibility to align with a global board’s standards for disclosing climate-related risks that could hit financial results.

First Brands’ Loans Drop After Finance Units File Bankruptcy (1)

A bankruptcy filing from a group of companies related to ailing First Brands Group LLC triggered another drop in the value of the auto-parts suppliers’ loans.

Tax Your Crypto and NFTs? Yes, the IRS Wants Its Cut

Cryptocurrency and NFTs continue to rise in popularity in the U.S., but many people are still confused about how they are taxed. In this video, a partner at Steptoe & Johnson who specializes in tax policy and cryptocurrency, lays out how different crypto transactions are taxed.