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Pact’s Biz Group Drops W.Va. Streaming Tax Compliance Fight

by usoftax_admin | May 16, 2024 | Tax News

The Streamlined Sales Tax Governing Board’s business group on Thursday dropped its allegations that West Virginia’s tax on streaming services threw it out of compliance with the interstate tax simplification compact that the board oversees.

P&G Exec Says FDII Uncertainty May Sway Cos.’ IP Decisions

by usoftax_admin | May 16, 2024 | Tax News

The 2017 tax overhaul’s measure for foreign-derived intangible income, a regime that gives tax breaks for domestically held intellectual property, faces uncertainty that could be one factor in keeping some companies from repatriating IP, a tax executive...

NJ Lets Some School Districts Hike Property Taxes Above Cap

by usoftax_admin | May 16, 2024 | Tax News

New Jersey will allow school districts that experienced cuts in state school aid to request increases in local property tax levies above previously permitted amounts without voter approval under a bill signed by Gov. Phil Murphy.

Democrats Prod Justice Thomas on RV Loan, Tax Treatment

by usoftax_admin | May 16, 2024 | Tax News

Two Senate Democrats asked U.S. Supreme Court Justice Clarence Thomas’ attorney to respond to what they called a failure to answer their questions about the justice’s $267,000 loan from a healthcare industry executive to finance a luxury recreational...

Eaton Must Give Up Personnel Docs In Transfer Pricing Probe

by usoftax_admin | May 16, 2024 | Tax News

Eaton must comply with an Internal Revenue Service summons for the personnel records of its foreign employees in the government’s transfer pricing investigation of the multinational power management company, an Ohio federal judge ruled Thursday.
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