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Ariz. General Fund Revenues Down $481M From Forecasts

by usoftax_admin | Jan 25, 2024 | Tax News

Arizona’s general fund revenues were $481 million below budget forecasts in the first six months of the fiscal year, the state’s Joint Legislative Budget Committee said in a report.

Motel Owners Challenge LA Hotel Conversion Crackdown

by usoftax_admin | Jan 25, 2024 | Tax News

The owners of a Los Angeles motel launched a constitutional challenge to a 2008 ordinance limiting hotels’ ability to convert units being used for long-term housing into use for short-term stays, after the city accused them of violating the law.

ECJ Adviser Rejects Spanish Excise Taxes On Mineral Oils

by usoftax_admin | Jan 25, 2024 | Tax News

A European Union state cannot impose varying levels of excise taxes on mineral oils for autonomous regions, an adviser to the European Court of Justice said Thursday in a preliminary ruling sought by Spanish courts.

Kan. House Bill Seeks Sales, Use Tax On Digital Property

by usoftax_admin | Jan 25, 2024 | Tax News

Kansas would impose sales and compensating use tax on digital property and subscription services under a bill introduced in the House of Representatives.

John Hancock Clients Owed Tax Credit Perk, 11th Circ. Told

by usoftax_admin | Jan 25, 2024 | Tax News

John Hancock Life Insurance Co. clients urged an Eleventh Circuit panel on Thursday to reverse a lower court’s ruling that the company didn’t breach a fiduciary duty when $100 million worth of foreign tax credits wasn’t passed through to them, saying...

Marathon Seeks $247M In Alternative Fuel Tax Refunds

by usoftax_admin | Jan 25, 2024 | Tax News

Energy giant Marathon Petroleum told an Ohio federal court Thursday that the government owes it $247 million in excise tax refunds, saying the Internal Revenue Service has refused to allow the company tax credits for producing alternative fuel mixtures that include...
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