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Pa. Bill Seeks Tax Exclusion For Affordable Housing Projects

by usoftax_admin | Jul 19, 2024 | Tax News

Pennsylvania would exclude affordable housing projects developed through the federal Rental Assistance Demonstration program from the state’s realty transfer tax under a bill introduced in the state Senate.

Cox Owner’s Estate Claims IRS Miscalculated $46M Tax Bill

by usoftax_admin | Jul 19, 2024 | Tax News

The estate of an owner of the Cox Enterprises media empire challenged a $46 million tax bill from the Internal Revenue Service, telling the U.S. Tax Court that the agency erroneously calculated the tax by inflating the value of the company’s stock by about $20...

Miss. Justices To Weigh Pipeline’s Tax Bill On 3rd-Party Fees

by usoftax_admin | Jul 19, 2024 | Tax News

The Mississippi Supreme Court agreed to hear the state tax agency’s appeal of a trial court’s ruling that negated a use tax assessment on third-party freight charges a pipeline company paid, opting to decide the case instead of sending it to an...

Luxembourg Floats Corp. Tax Cut To Boost Attractiveness

by usoftax_admin | Jul 19, 2024 | Tax News

Corporations in Luxembourg may see their income tax rate drop by a percentage point in a bid to make the country more attractive to businesses as part of a larger proposed tax package presented by its finance minister.

NY Ice Cream Store Manager Not Liable For Tax, ALJ Says

by usoftax_admin | Jul 19, 2024 | Tax News

The manager of a New York ice cream store is not the person responsible for the store’s sales tax assessment, as he didn’t have the authority to handle store finances, an administrative law judge said in a determination released Friday.

Ohio Coal Plant Correctly Valued At $13M, Board Rules

by usoftax_admin | Jul 19, 2024 | Tax News

A shuttered coal plant in Ohio was properly valued at $13 million, despite the plant owner’s assertion that the buildings on the property had no value, the state Board of Tax Appeals ruled. 
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