by usoftax_admin | Aug 6, 2024 | Tax News
A Federal Circuit panel wrongly concluded that a 10% depreciation rate for deducting costs related to manufacturing facilities set by Canadian law was an unfair trade subsidy that justified countervailing trade duties, a wind tower manufacturer told the court in... by usoftax_admin | Aug 6, 2024 | Tax News
A U.S. inventor and businessman who had been based in Hong Kong and started a company there must pay over $2.9 million in penalties for failing to report his overseas bank accounts for eight years, a Virginia federal judge ruled Tuesday. by usoftax_admin | Aug 6, 2024 | Tax News
A Maryland state appellate court’s recent decision in Ben Porto v. Montgomery County echoes earlier case law upholding controversial stormwater charges as a valid excise tax, but it also suggests that potential credits to reduce property owners’ liability... by usoftax_admin | Aug 6, 2024 | Tax News
A company that creates and supplies snow for entertainment companies in California had $1.93 million in taxable sales in 2012 through 2015 despite the company saying the snow was not tangible personal property, the California Office of Tax Appeals ruled. by usoftax_admin | Aug 6, 2024 | Tax News
A Pacific Northwest gas station chain that issued fuel cards to customers must pay the Washington state business tax when cardholders purchase gas from other participating gas station chains as well as from nonparticipating chains, a state appeals court panel said... by usoftax_admin | Aug 6, 2024 | Tax News
The billions of hours spent completing Internal Revenue Service forms and tax returns, along with out-of-pocket compliance costs, ultimately costs the U.S. economy over $546 billion, the Tax Foundation reported Tuesday.