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Peanut Truck Co. Exempt From Excise Tax, Justices Told

by usoftax_admin | Feb 19, 2025 | Tax News

A Georgia maker of special trucks for peanut farming was denied an excise tax exemption for off-road highway vehicles because the IRS interpreted the law too narrowly, the company argued while urging the U.S. Supreme Court to overturn the Eleventh Circuit on the...

Minn. Bill Seeks Vote For Property Owners On Local Taxes

by usoftax_admin | Feb 19, 2025 | Tax News

Certain Minnesota residents could vote on local ballot measures affecting the taxation of properties they own regardless of whether they live in the taxing district involved if state voters approve a constitutional amendment proposed in legislation in the House.

US experts dissect Fortune 100 transfer pricing risks

by usoftax_admin | Feb 19, 2025 | Tax News

Taxpayers that operate internationally need to be better prepared for increased tax and TP scrutiny, one expert tells ITR

Ky. Bill Seeks To Replace Tax Appeals Board With Tribunal

by usoftax_admin | Feb 19, 2025 | Tax News

Kentucky would create a tribunal with authority over all state and local tax disputes, replacing the state’s Board of Tax Appeals, under a bill introduced in the state House of Representatives.

Ill. Dept. OKs Quantum Computing Building Tax Credit Regs

by usoftax_admin | Feb 19, 2025 | Tax News

Illinois individual and corporate taxpayers may claim income tax credits for a portion of wages paid to workers employed in the construction of quantum computing campus facilities, the state Department of Revenue said in adopted regulatory amendments.

Minn. Bill Seeks Bank Tax Break For Commercial Loans

by usoftax_admin | Feb 19, 2025 | Tax News

Minnesota would allow financial institutions to take a tax subtraction for their income from certain commercial loans under legislation introduced in the state House.
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