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Belgian Co. Can’t Keep Using Ad Space Rent-Free, ECJ Says

by usoftax_admin | Sep 26, 2024 | Tax News

The European Court of Justice on Thursday upheld a 2019 European Commission ruling that a street furniture company’s owed rent for Brussels bus shelter advertising space, agreeing with the commission that allowing the company to continue using the ad displays...

Pa. Supreme Court Upholds Taxes On Like-Kind Exchanges

by usoftax_admin | Sep 26, 2024 | Tax News

A group of Pennsylvania real estate partners owe the state personal income tax assessed on their like-kind exchange, Pennsylvania’s highest court ruled Thursday, with the majority upholding a lower court finding that the state Department of Revenue correctly...

Colo. Property Tax Deferral Program Could Balloon, Panel Told

by usoftax_admin | Sep 26, 2024 | Tax News

Use of a property tax deferral program in Colorado is expected to rise under a recent legislative change opening it to nearly all property owners, the state’s treasurer told a legislative commission Thursday, calling the extent of the program’s growth...

Tribunal Halts $52.8M German Tax Collection Against Oil Cos.

by usoftax_admin | Sep 26, 2024 | Tax News

German tax authorities shouldn’t collect a windfall profits tax totaling at least €47.2 million ($52.8 million) from two oil refineries before the dispute has been litigated, a tribunal of the International Centre for Settlement of Investment Disputes...

Stove Store Owner Had $1M In Receipts, Tax Court Says

by usoftax_admin | Sep 26, 2024 | Tax News

The owner of a New York stove and fireplace store had about $1 million in receipts for 2014 and isn’t entitled to deduct gasoline and depreciation expenses, the U.S. Tax Court said Thursday, sustaining most of a determination made by the Internal Revenue...

Ohio Justices Nix Woodland Deduction Rate As Arbitrarily Low

by usoftax_admin | Sep 26, 2024 | Tax News

The Ohio Supreme Court ordered the state’s tax commissioner Thursday to recompute the value of a deduction for clearing woodlands that factors into assessments of agricultural properties, agreeing with a group of landowners who argued the figure was set...
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