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Ohio Makes Play To Enter Cleveland Browns’ Stadium Suit

by usoftax_admin | Nov 1, 2024 | Tax News

Ohio asked to join Cleveland as a defendant in a suit filed by the Cleveland Browns alleging that a state law impeding the NFL team’s plan to move to another city within the state is unconstitutional.

Previously Taxed Profit Rules Due By Year’s End, Official Says

by usoftax_admin | Nov 1, 2024 | Tax News

The Internal Revenue Service will publish the first tranche of long-awaited regulations on offshore earnings and profits previously taxed in the U.S. before the end of the year, an agency counsel said Thursday.

Ind. Tax Dept. Says Co. Timely Filed Amended Returns

by usoftax_admin | Nov 1, 2024 | Tax News

A company doing business in Indiana timely filed for an income tax refund, the Department of State Revenue said, finding that an advance pricing agreement between the company and the Internal Revenue Service counts as a federal modification.

Mich. Senate Votes To Allow LLC Status For Telecom Cos.

by usoftax_admin | Nov 1, 2024 | Tax News

Michigan would allow telecommunication companies to convert to limited liability companies while continuing to be considered corporations for state tax purposes under a package of bills passed in the state Senate.

NOL Rules May Retain Favorable Approach, IRS Counsel Says

by usoftax_admin | Nov 1, 2024 | Tax News

New proposed regulations governing business net operating losses that could retain a popular provision allowing some businesses expanded use of those losses are a priority to be published next year, a top Internal Revenue Service lawyer said.

The new special VAT scheme for EU SMEs: barrier or benefit?

by usoftax_admin | Nov 1, 2024 | Tax News

With the modified regime coming into effect from January 1 2025, Fernando Matesanz of Spanish VAT Services explains the new provision for cross-border transaction exemptions and related compliance complexities for SMEs
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