Category

Income Tax

Category

On March 9, 2022, the New Jersey legislature unanimously passed, and New Jersey Governor Philip D. Murphy signed, Senate Bill No. 1889 (“SB 1889”), which, among other limitations, prohibits entities with certain ties to Russia or Belarus from benefitting from New Jersey state and local economic development incentives, including certain state and local tax incentives. While several other states’ pension funds have moved to divest themselves of Russian financial holdings, SB 1889—which was swiftly introduced…

Governor Hochul rang in the new year by vetoing a bill that expanded the New York State False Claims Act (“FCA”) to permit claims against non-filers. Specifically, on December 31, 2021, Governor Hochul vetoed Senate Bill S4730 (Assembly Bill A2543), explaining in Veto Message No. 83 that “the language in the bill is broader than impacting only non-filers, and would implicate more tax filing controversies to the False Claims Act than just non-filers. This would…

Beginning November 1, 2021, the Louisiana Department of Revenue (“Department”) will be offering taxpayers the opportunity to participate in a voluntary transfer pricing “managed audit” program (the “Program”). Pursuant to a recently released Department information bulletin, the purpose of the Program is to: Create an efficient and expedited resolution for corporate tax audits when transfer pricing issues exist; andProvide certainty and uniformity to taxpayers on the resolution of transfer pricing issues for open audit periods…

The Supreme Court has denied review of New Hampshire’s lawsuit against Massachusetts seeking to invalidate the latter’s controversial personal income tax sourcing regulation. The Supreme Court’s highly anticipated decision was likely influenced by the acting U.S. Solicitor General’s amicus brief arguing against the Supreme Court taking up the case. The Supreme Court has thus passed on reviewing the broader issue of whether and to what extent a state may impose its personal income tax on…