Numerous states have provided tax relief in response to the COVID-19 outbreak, often in the form of tax filing and payment deadline extensions. At this time, 40 states and Washington, D.C. have provided a corporate income tax filing and/or payment deadline extension. Some of these states have conformed to the July 15 federal corporate income tax extension date, while others have extended to an earlier or later date. Some states have also extended income tax…
Riot Games, Inc. (“Riot”) is the developer and publisher of League of Legends (“LoL”), a popular multiplayer online battle arena game.[1] In LoL, two teams of five players each battle to destroy each other’s Nexus, or base. Players control characters that have various different attacks and abilities. Each team also has minions that stream towards the other team’s base, and each team attempts to protect their base by attacking other characters and pushing their own minions forward and stopping the other team’s minions from advancing. In 2018, Riot had a version of the game called Nexus Blitz. Although Riot hasn’t brought back Nexus Blitz since 2018, it has had to deal with another nexus attack from Washington State.
Numerous state and local jurisdictions have responded to the COVID-19 (“coronavirus”) outbreak by providing relief to taxpayers, primarily through extended filing and payment deadlines. We expect that many more jurisdictions will issue guidance in the coming weeks, particularly because the federal government recently announced its 90-day income tax payment extension plan.
The World Health Organization has officially declared the coronavirus outbreak to be a pandemic. In addition to the cost on human life, the rapid spread of COVID-19 has left a trail of economic damage affecting business revenues. COVID-19 has caused complete or partial shutdown of factories, supply chain disruptions, and labor shortages, and has impacted demand in certain industries. This impact will also be felt by U.S. state, and local governments.