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Week in Insights: But First, Let’s Have Some Coffee
This week, our experts touched on a wide range of topics, from proposed transfer pricing legislation in Brazil to tax developments in Massachusetts. For a look at what’s making news, here’s our roundup.
Kentucky Coal Tax Break Is Unconstitutional, Sixth Circuit Rules
A Kentucky regulatory scheme making state coal more competitive by providing utilities with a severance tax discount discriminates against interstate commerce, the US Court of Appeals for the Sixth Circuit ruled Friday.
Fortune Tellers Predict a Roller Coaster Year in State Taxes
The week in state tax news: One of the nation’s largest tax consulting services offered up a bold forecast for the coming year in state taxes. The forecast includes some safe bets, including a prediction that four states will cut rates. Among the riskier wagers is a prophecy that the Maryland Supreme Court will strike down the digital advertising tax. A proposed California wealth tax is in trouble, and New York’s governor backs keeping the expiring business income tax rate for a bit longer.
Reporting Requirement Set Aside in Land Donation Dispute
An IRS reporting requirement aimed toward combating abuse of land donation deductions must set aside because the agency didn’t follow the proper rulemaking procedures when issuing the notice, an Alabama district court said.
Amazon, Agency React to Professors’ South Carolina Sales Tax Brief
Two law professors miss the mark in their defense of the South Carolina Department of Revenue’s argument that Amazon owes the state more than $12.5 million in sales tax, the e-commerce giant told a state appeals court.
Former Ark. State Senator Hutchinson Sentenced Over Tax Fraud
Former Arkansas state senator
Tax Your Crypto and NFTs? Yes, the IRS Wants Its Cut
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