McDermott Will & Emery
Subscribe to McDermott Will & Emery's PostsNew York Releases Corporate Tax Reform FAQs
By McDermott Will & Emery on Jul 25, 2014
Posted In Incentives, Income Tax, New York, Nexus, Tax Base
Earlier this year, New York enacted sweeping corporate tax reform, generally effective for tax years beginning on or after January 1, 2015, including a new economic nexus standard, changes to New York’s combined reporting regime, changes to the tax base and traditional New York income classifications, changes to the receipts factor computation, and changes to...
Continue Reading
U.S. Supreme Court Turns its Attention to State Tax, Agrees to Hear “Double Taxation” Case
By McDermott Will & Emery on Jun 2, 2014
Posted In Constitutional Issues, Income Tax, Maryland
The Supreme Court granted the petition for certiorari filed by the Maryland Comptroller of Treasury in Comptroller v. Wynne, Dkt. No. 13-485 (U.S. Sup. Ct., cert. granted May 27, 2014). The central issue in Wynne is whether a state must allow its residents a credit for income taxes paid to other states, in a manner...
Continue Reading
Michigan Appeals Court Reaffirms True Object Test for Remote Access Software
By McDermott Will & Emery and McDermott Will & Emery on May 28, 2014
Posted In Michigan, Sales Tax
In Thomson Reuters, Inc. v. Department of Treasury, No. 313825 (Mich. Ct. App. May 13, 2014) (unpublished), the Michigan Court of Appeals, reversing the ruling of the Court of Claims, held that a taxpayer’s sale of online research products was not subject to Michigan use tax. The court held that the transaction was not taxable...
Continue Reading
How to Negotiate a Settlement Agreement
By McDermott Will & Emery on May 22, 2014
Posted In Nationwide Importance, Procedure
Settlements of tax audits are typically memorialized in closing agreements between the department of revenue and the taxpayer. Negotiating these agreements can be an important part of any settlement. The department of revenue may have standard printed form closing agreements, and the taxpayer should determine the extent, if any, to which the standard form can...
Continue Reading
New Jersey Tax Court Issues Important Order on the State’s Throw Out Rule
By Arthur R. Rosen and McDermott Will & Emery on Sep 9, 2013
Posted In New Jersey, Nexus, Sales Tax
The Tax Court of New Jersey recently issued an important order that may have eviscerated the impact of the Throw Out Rule on intangibles holding companies. On its face the order does not appear to address the application of the Throw Out Rule to traditional operating businesses, however the “bottom line” of the order should...
Continue Reading
