2+ day, 18+ hour ago   (106+ words) news.bloombergtax.com A parking structure owned by Duluth, Minn., isn’t wholly exempt from property tax because the city leases certain parking spaces to a nearby hotel, the Minnesota Tax Court ruled. Minnesota law generally exempts publicly owned parking structures…...

2+ day, 15+ hour ago   (97+ words) news.bloombergtax.com Michael Kuczynski joined McGuireWoods as a partner in its tax practice in Atlanta, the firm announced Thursday. Kuczynski assists public charities, including hospitals and educational institutions and their affiliated foundations, private foundations and other tax-exempt organizations with…...

3+ day, 15+ hour ago   (93+ words) news.bloombergtax.com A Michigan businessman and education advocate is challenging an $18.7 million IRS assessment that stemmed from donating a majority interest in a charter school management company he founded. J.C. Huizenga asked the US Tax Court to redetermine the deficiency…...

4+ day, 2+ hour ago   (93+ words) news.bloombergtax.com New York City’s tax on luxury second homes is giving city lawmakers new leverage to pursue an overhaul of its property tax system that elected officials acknowledge is outdated, but are loath to take up. The city…...

4+ day, 53+ min ago   (488+ words) New York City’s pied-à-terre tax seemed straightforward: Impose a tax on high-value second homes that were neither the owner’s primary residence nor occupied by bona fide tenants. In practice, however, it’s colliding with the complex ways wealthy New Yorkers own,…...

4+ day, 13+ hour ago   (141+ words) news.bloombergtax.com The US Tax Court tossed a Florida horse breeding farm’s tax dispute for lack of jurisdiction after determining the case was left without a valid final partnership adjustment issued by the IRS. The order stems from Arindel…...

4+ day, 14+ hour ago   (113+ words) news.bloombergtax.com A Colorado-based company didn’t generate California taxable business income when it sold its beverage distribution unit because the two didn’t operate as a unitary business with activity in the state, a tax appeals tribunal ruled in an…...

4+ day, 15+ hour ago   (57+ words) news.bloombergtax.com A pesticide maker isn’t sufficiently engaged in “agricultural business activity” to entitle it to use California’s special formula to calculate what portion of its income is taxable there, a state tribunal ruled in an opinion posted Monday....

1+ week, 3+ day ago   (690+ words) The United Arab Emirates has extended its Corporate Tax Small Business Relief, or SBR, until the end of 2029, giving startups, entrepreneurs and small and medium-sized enterprises another three years to potentially operate without paying corporate tax. The extension reinforces the…...

1+ week, 4+ day ago   (90+ words) news.bloombergtax.com The Colorado Secretary of State’s office confirmed that proponents of moving to a graduated income tax had secured enough valid signatures to place the proposal on the Nov. 3 ballot. Voters will be given a say on Initiative…...