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New York Law Journal

Here Comes the Sun: New Solar Tax Credit Rules Benefit Rental Property Owners

Ezra Dyckman and Charles Nelson discuss the Inflation Reduction Act, which has expanded the scope of green energy tax credits, and also proposed regulations by the Treasury Department that have the potential to allow even taxpayers with no income tax liability to more easily monetize some of these tax credits.
5 minute read

New York Law Journal

Tax Reform Act of 1969: A Remembrance

In his Estate Planning and Philanthropy column, Conrad Teitell reflects on the Tax Reform Act of 1969, as he has been doing in recent years during the month of December, and shares a memory associated with the subject.
2 minute read

New York Law Journal

Transferee Liability Under New York Law: 'Dillon Trust Co. v. United States'

Under some circumstances, sellers of stock of a corporation may be liable as transferees for corporate obligations arising before or in connection with the closing. In 'Dillon Trust Co. v. United States', the Court of Federal Claims concluded that the sellers of the stock of two corporations were liable for tax obligations of the corporations attributable to sales of assets for notes prior to the closing of the stock sale.
9 minute read

Connecticut Law Tribune

Connecticut Supreme Court Rejects Businesses' Claim Vehicle Tax Law Unconstitutional

"The fact that Alico is subject to multiple taxation as a result of its decision to register its vehicles in Massachusetts and to garage them in Somers does not render § 12-71 (f) discriminatory," the opinion said.
2 minute read

New York Law Journal

Benefits of Leasehold Condominiums for Operators of Homeless Shelters

It would make sense for a nonprofit in New York City to understand the benefits of leasehold condominiums and the value of the 420-a Exemption. This is especially true if your nonprofit operates a homeless shelter, which, per the DOF, is a nonresidential purpose entitling your organization to robust tax relief.
6 minute read

New Jersey Law Journal

Appellate Division 'Essentially Overturned Foreclosure Tax Law' With This Opinion

"In light of the implication of the clear constitutional ruling in 'Tyler,' that the forfeiture of a property owner's equity above the tax amount owed constitutes a prohibited taking, we now review New Jersey's TSL statutory framework," Judge Lisa Perez Friscia wrote for the court. "We are guided by the United States Supreme Court's charge that 'the taxpayer must render unto Caesar what is Caesar's, but no more.'"
5 minute read

National Law Journal

Supreme Court Eyes Consequences of Broad Ruling in Repatriation Tax Case

"[W]hen the court opens a door, Congress tends to walk through it," Justice Neil Gorsuch said.
6 minute read

New York Law Journal

New York Should Reevaluate Suspension of Driver's Licenses for Tax Collections

As this column has frequently highlighted, the New York Division of Taxation is not afraid to pursue aggressive positions in order to assess and collect revenue for the state. However, many taxpayers may be unaware of one of the more potent tools at the disposal of the division: the ability to suspend a taxpayer's driver's license for non-payment of substantial back taxes.
8 minute read

The Recorder

California Supreme Court Takes Up Challenge to Anti-Tax Initiative

Gov. Gavin Newsom and legislative Democrats have asked the court to keep the Taxpayer Protection and Government Accountability Act off next November's ballot.
3 minute read

Daily Business Review

Dillard's Sues State, Claiming It Overvalued Its Property for Tax Assessments

This suit was surfaced by Law.com Radar. Read the complaint here.
1 minute read

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