Press Room: Tax Releases

California’s Gold Rush Continues - GO-Biz Approves Over $62 Million in Tax Credits

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House of Representatives Passes Repeal of Obamacare Taxes

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White House Releases Tax Reform Principles, But No Details

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July 24, 2017

Tax Court Rejects Controversial IRS Position in Rev. Rul. 91-32

The Tax Court in Grecian Magnesite Mining, Co. v. Commissioner rejected the controversial IRS position in Rev. Rul. 91-32 that a foreign partner’s capital gain from the sale of an interest  Read More

July 13, 2017

Illinois Passes Budget, Tax Rate Increases and Other Changes

For the first time since 2014, Illinois has passed a complete budget. The state seemed to be headed for a third straight year without a complete budget until the passage of a number of  Read More

June 15, 2017

California’s Gold Rush Continues - GO-Biz Approves Over $62 Million in Tax Credits

Applications for the Next Round Accepted Starting July 24, 2017 On June 15, 2017, the Governor’s Office of Business and Economic Development (GO-Biz) approved $62.8 million in California Competes Tax Credits (CCTCs) for 87 businesses expanding throughout  Read More

May 09, 2017

House of Representatives Passes Repeal of Obamacare Taxes

On May 4, 2017, the House of Representatives narrowly passed the American Health Care Act (AHCA) with a 217-213 vote, with 20 conservative and moderate House Republicans voting against the bill along with every House Democrat.  Read More

April 28, 2017

White House Releases Tax Reform Principles, But No Details

On April 26, 2017 the White House released a fact sheet titled 2017 Tax Reform for Economic Growth and American Jobs: The Biggest Individual and Business Tax Cut in American History, which outlines President Donald Trump  Read More

April 14, 2017

Taxpayers Drive Away with Over $91 Million of California Competes Tax Credits

On April 13, 2016, California approved $91.4 million of California Competes Tax Credits for 114 businesses to support the creation of more than 8,200 jobs throughout the State. The California Competes Tax Credit (CCTC) provides businesses a potentially  Read More

March 17, 2017

White House Releases Skinny Budget and Postpones Tax Proposals

The White House released its fiscal 2018 skinny budget on March 16, 2017, which contained discretionary budget proposals but no tax proposals. A more complete budget that will address mandatory spending and tax policy is expected  Read More

March 06, 2017

In Response to Temple-Inland Delaware Reins in Controversial Unclaimed Property Program

On February 2, 2017, the State of Delaware overhauled its aggressive and controversial unclaimed property program by enacting Senate Bill 13 (SB 13). SB 13 significantly alters Delaware’s prior unclaimed property program, specifically in the areas  Read More

January 04, 2017

Corporate Income Tax: Pay Ratio Surtax Adopted in Portland, Oregon

On December 7, 2016, the City Council in Portland, Oregon approved the imposition of a surtax on certain publicly traded companies with high rates of pay for CEOs compared to other employees. Specifically the surtax  Read More

December 02, 2016

2016 Top Year-End Tax Accounting Method Considerations for Businesses

As we approach the end of the 2016 calendar year, year-end tax planning is a subject that is undoubtedly garnering attention. Historically, planning has focused on concern over whether expired tax incentives would be  Read More

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