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Pa. Justices Told NOL Flat Cap Precedent Applies To Alcatel

by usoftax_admin | Mar 6, 2024 | Tax News

The Pennsylvania Supreme Court should apply recent precedent retroactively when deciding if a flat-dollar cap on Alcatel-Lucent’s net loss deduction violated the state constitution, entitling the company to a $4 million income tax refund, the company said in...

Mont. General Revenue Through February Down $122M

by usoftax_admin | Mar 6, 2024 | Tax News

Montana’s general fund revenue from July through February was $122 million lower than during the same period in the previous fiscal year, the state Department of Revenue said in a monthly report.

NJ Tax Court Says Unpaid Fees Don’t Bar Acme’s Tax Appeal

by usoftax_admin | Mar 6, 2024 | Tax News

An Acme supermarket that rents a property in New Jersey can proceed with its appeal of the property’s assessment despite the property’s owner still owing fees to the city, the state Tax Court ruled.

Startup Investors’ Attys Want $1.5M In Fees On Disclosure Suit

by usoftax_admin | Mar 6, 2024 | Tax News

Lawyers for a class of investors have asked a New York federal court to approve their attorney fees of $1.5 million for a $4.5 million settlement with a Chinese analytics startup over claims the company misrepresented its tax liability before its initial public...

Mich. General Revenues Through Jan. Up $625M

by usoftax_admin | Mar 6, 2024 | Tax News

Michigan general revenue collection from October through January was $625 million higher than during the same period last year, according to a monthly report by the state budget office.

NY Senate Advances Tax Credits For Carbon Farming

by usoftax_admin | Mar 6, 2024 | Tax News

New York would offer tax credits to farmers who use so-called carbon farming techniques to reduce carbon emissions under a bill the state Senate has approved.
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