by usoftax_admin | Jan 23, 2024 | Tax News
A Colorado couple’s attempts to exclude a closing agreement — in an attempt to be taxed under U.S. tax law after having elected to waive foreign-based income from U.S. law — did not establish a genuine dispute of fact, the U.S. Tax Court ruled Tuesday. by usoftax_admin | Jan 23, 2024 | Tax News
A group of Michigan business associations, residents and Republican lawmakers urged the state Supreme Court on Tuesday to directly hear their appeal of a judge’s ruling that a 2023 personal income tax rate cut was only temporary. by usoftax_admin | Jan 23, 2024 | Tax News
Missouri would clarify the proper treatment of net operating losses for state individual income tax purposes under regulatory amendments proposed by the state Department of Revenue. by usoftax_admin | Jan 23, 2024 | Tax News
A California couple are eligible to claim the entire flow-through loss resulting from transfers between two S corporations because the transfers were interests in equity, the U.S. Tax Court ruled Tuesday. by usoftax_admin | Jan 23, 2024 | Tax News
Chile’s government is taking aim at aggressive tax planning with a bill that would strengthen the interaction between its different anti-avoidance rules and update its controlled foreign corporation regulations, the country’s Ministry of Economy said... by usoftax_admin | Jan 23, 2024 | Tax News
Streaming services provided by Netflix Inc. in Colorado do not constitute tangible personal property and are not subject to sales tax, the company told a state court, saying decades of state law back its claim.