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The final debt-equity regulations: planning to comply

From  by Robert M. Gordon & Jennifer Crawford On October 13 the US Treasury Department released final debt-equity regulations to address “earnings stripping” and deter multinationals from shifting income out of the United States to lower-tax jurisdictions. The impact of these new rules on MNEs with operations in the United States will be significant and companies should develop plans to ensure both tax and financial reporting compliance. Background In […]

November 3, 2016

Taxing Cost of Leasing in Chicago

At a time when more and more businesses are relying on cloud computing to satisfy their software needs, it is imperative that companies get a firmer grasp on changes in cloud computing that could impact their businesses. What is the Chicago Lease Transaction Tax? The Chicago lease transaction tax imposes a levy on customers who lease personal property in the city or who use, within the city, personal property that […]

August 23, 2016

21 States Bring Supreme Court Challenge to Delaware’s Right to Claim Funds

21 States Challenge Delaware On June 9, 2016, Texas Attorney General Ken Paxton announced that he would file a lawsuit on behalf of 21 states before the U.S. Supreme Court, seeking more than $150 million from Delaware. The lawsuit claims that Delaware is holding uncashed MoneyGram Official Checks (“Official Checks”) that should have been reported to the state where the Official Check was issued, and not Delaware, MoneyGram’s state of […]

June 13, 2016

What does Amazon’s decision to start collecting sales tax nationwide mean for third party sellers?

Beginning April 1, 2017, Amazon began collecting sales tax in every state imposing such a tax. Many businesses are wondering what this decision  means for them.  Here is what you need to know: After years of fighting to keep online purchases tax free, Amazon has officially conceded.  Over the last few years, Amazon has gradually added to the list of states where it collects sales tax.  Now, Amazon files in all […]

May 9, 2016