This week we look at digital services taxes, the CARES Act increasing state taxes, domestic deeming provisions and tax treaties, and more. We'll hear from:
David Klass of Hunton Andrews Kurth discusses how the digital services economy is being seen as a valuable potential source of tax revenue by governments in a post-Covid environment. Read: Why Taxation of Digital Services Continues to Occupy Center Stage
This may worth something:
Suspending the rules: coronavirus prompted state to cut back on regulations - al.com
Alabama's efforts to cut red tape in response to the coronavirus pandemic included allowing curbside liquor sales. (Photo by Greg Garrison/AL.com)
Since the beginning of the coronavirus pandemic, state officials have eased up on restrictions in a variety of fields and changed the way Alabama does things – from curbside alcohol sales to the licensing of healthcare professionals.
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The Republican runoff between Jeff Sessions and Tommy Tuberville to determine the U.S. senate nominee was originally scheduled for March 31. Gov. Kay Ivey postponed it to July 14.
Top Federal Tax Decisions Of 2020: Midyear Report - Law360
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Trump's taxes, birth control top Supreme Court's closing agenda - The Middletown Press
The justices will tackle their eight remaining cases starting Monday, when they issue opinions in July for the first time since 1996. The eight cases were heard in an extraordinary May argument session, held by telephone because of the coronavirus outbreak. The justices could finish their work later in the week.
Together, the final opinions could rewrite the narrative of a Supreme Court term that so far hasn't produced the clear conservative shift some envisioned after two Trump nominees joined the court. The rulings will shape public perceptions of the court, and perhaps of Trump, heading into the November election.
While you're here, how about this:
Dominion Energy: Atlantic Coast Pipeline is canceled
RICHMOND, Va. and CHARLOTTE, N.C., July 5, 2020 / PRNewswire / -- Dominion Energy (NYSE: D) and Duke Energy (NYSE: DUK) today announced the cancelation of the Atlantic Coast Pipeline ("ACP") due to ongoing delays and increasing cost uncertainty which threaten the economic viability of the project.
Despite last month's overwhelming 7-2 victory at the United States Supreme Court, which vindicated the project and decisions made by permitting agencies, recent developments have created an unacceptable layer of uncertainty and anticipated delays for ACP.
Point of View: Treasury proposal threatens tax increase on Oklahoma farmers
Adding to this uncertainty are proposed regulations from the U.S. Treasury and the Internal Revenue Service that would raise taxes on thousands of farmer-owners of co-ops across the state. At a time when agriculture is reeling from the pandemic, the economic crisis, trade tensions and a half decade of low prices, taxing farmers millions of dollars is unthinkable, especially given that they spend that money locally.
Legal Woes Mount For Owner Of Popular Florida Panhandle Tourist Restaurant Under Tax
The owner of a landmark seafood restaurant in the Florida Panhandle who is the target of a federal tax fraud investigation is facing new felony drunken driving charges and what may become a challenging effort to renew his liquor license later this summer.
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The new legal problems also may complicate efforts by David Biegler, 49, co-owner of the Hurricane Oyster Bar and Grill in Santa Rosa Beach, to pay the IRS and Justice Department over what the government said he owes.
June 2020 UK Tax Round Up
HMRC has updated its guidance at BIM48000 regarding how legislation and case law should be applied where a business makes changes to its trading activities, including in response to the COVID-19 disruption. Of particular interest are HMRC's comments on the possibility of changes to business activities resulting in the commencement of a new trade and that donations received to subsidise loss of income might be taxable.
When a company changes its product lines, it is well-established that if a business commences an entirely new trade which is completely unrelated to its previous activities this would usually be treated as the commencement of a new and separate trade rather than the extension of an existing one.
Happening on Twitter
Today marks 11 months of lockdown in #Kashmir — 335 days since Aug 5, 2019. This is the longest digital siege/ cra… https://t.co/QvZoqpP2Rt suchitrav (from Manhattan, NY) Sun Jul 05 12:53:08 +0000 2020
Visit the improved #EUHaveYourSay portal. It's now more user-friendly and intuitive. Give your feedback on the ong… https://t.co/iAgx29H0Ek EU_Commission (from Brussels, Belgium) Sun Jul 05 11:45:00 +0000 2020
#Dubai's ease of doing business is expected to improve further following @DubaiChamber's collaboration with… https://t.co/3KzPRPprbl DXBMediaOffice (from Dubai, United Arab Emirates) Sun Jul 05 10:12:51 +0000 2020
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