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Minn. House Bill Seeks Amendment To Refund Budget Surplus

by usoftax_admin | Feb 7, 2025 | Tax News

Minnesota would propose a constitutional amendment that, if approved, would create a tax relief account to give taxpayers refunds of surplus state revenue under a bill introduced in the state House of Representatives.

Colo. House Panel Narrowly OKs Sundance Film Credit Bill

by usoftax_admin | Feb 7, 2025 | Tax News

Colorado would enact a $34 million tax credit to attract the Sundance Film Festival under legislation passed by a House committee over concerns it provides undue benefit to one community and one entity.

4th Circ. Says LeClairRyan Founder May Duck Tax Liability

by usoftax_admin | Feb 7, 2025 | Tax News

Defunct law firm LeClairRyan PLLC’s operating agreement did not bar founder Gary LeClair from jumping ship from the firm in time to potentially dodge massive tax bills tied to the firm’s collapse, the Fourth Circuit ruled on Friday.

Iowa Tax Revenue Collection Through Jan. Down $243M

by usoftax_admin | Feb 7, 2025 | Tax News

Iowa’s total receipts from July through January were $243 million lower than the same period last year, according to a report by the state Department of Management.

RI Digital Ad Tax Plan Invites Legal Challenges, COST Says

by usoftax_admin | Feb 7, 2025 | Tax News

Rhode Island’s proposal to create a tax on digital advertising revenues over $1 billion would face similar constitutional concerns that have plagued the similar Maryland tax, the Council on State Taxation told Rhode Island lawmakers.
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