By Ezra Dyckman and Daniel W. Stahl | June 26, 2018
In their Taxation column, Ezra Dyckman and Daniel W. Stahl discuss the recent Tax Court case 'Levitz v. Commissioner' addressing whether a taxpayer was engaged in a real estate trade or business—a question which has newfound significance in light of certain provisions in the 2017 tax legislation that hinge on the presence or absence of a trade or business.
By Stuart M. Saft | June 22, 2018
The Tax Cuts and Jobs Act of 2017 provides tax incentives for an investment in a qualified “Opportunity Zone,” the goal of which is to facilitate development in targeted low-income, economically distressed communities by encouraging investments used to start businesses, develop abandoned properties or provide low-income housing in the Opportunity Zone.
New York Law Journal | Expert Opinion
By Conrad Teitell | June 22, 2018
In his Estate Planning and Philanthropy column, Conrad Teitell writes: “The Tax Cuts and Jobs Act,” Pub. L. No. 115-97, limits an individual's deduction under IRC Section 164 for the total amount of state and local taxes (SALT) paid during the calendar year to $10,000 ($5,000 for a married individual filing a separate return)
By Marcia Coyle | June 21, 2018
“Stock isn't money; stock is stock,” intoned Justice Neil Gorsuch in his summary from the bench of his majority opinion in Wisconsin Central v. United States.
By Tony Mauro | Marcia Coyle | June 21, 2018
The U.S. Supreme Court says states are allowed to collect sales taxes from online retailers that don't have a have a physical presence in their borders. By a 5-4 vote in the case South Dakota v. Wayfair, the majority overturned the court's 1992 decision in Quill v. North Dakota, which had affirmed the “physical presence” test for state sales-and-use tax collections.
New York Law Journal | Analysis
By David E. Kahen and Elliot Pisem | June 20, 2018
In their Taxation column, David Kahen and Elliot Pisem discuss the recent Tax Court case, "Caselli v. Commissioner," regarding a shareholder's unsuccessful efforts to effectively change a tax election made by the corporation.
By Xiumei Dong | June 19, 2018
Alexander "Xander" Lee will now head Cooley's global tax practice on the West Coast.
By Charles Toutant | June 18, 2018
New Jersey is the latest front in a battle by the government of Denmark to recoup $2.1 billion it allegedly lost to a tax fraud scheme perpetrated by retirement funds and their managers.
By Katheryn Tucker | June 18, 2018
With a decision that seems likely to affect other similar businesses, Clayton County has lost its bid to collect property taxes from airport shops located outside the Atlanta city limits.
By Greg Land | June 18, 2018
Fulton County Superior Court Judge Henry Newkirk ruled that sovereign immunity protects Clayton County from claims that it improperly withholds tax collections from College Park.
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