California Office of Tax Appeals’ Power Rides on Pending Cases

The California Supreme Court’s recent decision to stay out of a dispute over a delayed excise tax refund leaves practitioners in the state waiting longer for word on the finality of decisions from the Office of Tax Appeals.

Bessent Slams Blue States for Severing From Trump Tax Exemptions

Treasury Secretary Scott Bessent attacked Democratic-led states for passing laws to decouple their tax codes from some of the personal income tax breaks in President Donald Trump’s signature tax law enacted in July.

Chicago Mayor Floats Higher Employee Tax on Fewer Companies

Chicago Mayor Brandon Johnson is floating changes to his corporate head tax proposal as he and the city council are at an impasse over how to close a nearly $1.2 billion deficit.

Ohio School Board Properly Raised $2.5 Million in Property Taxes

An Ohio school district could adopt a resolution to reallocate its funds and generate about $2.5 million in additional property tax revenue to pay for infrastructure upgrades, the Ohio Board of Tax Appeals decided.

Blow Torch Gas Qualifies for Tax Refund, Alabama Judge Rules

A defunct scrap yard is entitled to a reduced sales tax rate on natural gas it bought to power a blow torch used to cut metal down into marketable sizes and shapes, the Alabama Tax Tribunal ruled.

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Pot Stocks Rise on Trump Plan to Ease Cannabis Restrictions

President Donald Trump is expected to direct his administration to move to reclassify marijuana as a less dangerous drug, according to people familiar with the matter, a move that could represent one of the biggest shifts in US policy toward cannabis in decades.

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Tether Bids on Juventus, Agnellis Said to Oppose (1)

Tether Holdings SAhas submitted a binding all-cash proposal to acquire the remaining stake in the Italian football club Juventus Football Club SpA, taking full ownership after the El Salvador-based crypto firm invested in the team earlier this year.

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.

Tax Developments

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Alabama Tax Tribunal Reverses Utility Tax Refund Denial for Taxpayer

The Alabama Tax Tribunal reversed the Department of Revenue’s partial denial of the taxpayer’s utility gross receipts tax refund requests. The taxpayer, a chicken processor that uses water for cutting, ...

Nebraska Tax Commission Reverses Douglas County’s Tax Valuations for Taxpayers’ Storage Units

The Nebraska Tax Equalization and Review Commission issued a decision reversing the Douglas County Board of Equalization’s determinations regarding the taxable values of four commercial mini-storage properties owned by taxpayers ...

Oregon DOR Releases Information on Surplus Kicker

The Oregon Department of Revenue (DOR) issued information regarding the return of excess tax revenue to taxpayers, known as the “kicker”. The information includes clarification of the kicker, the rate ...

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