The BR State + Local Tax Spotlight: July 2024
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Note from the Editors
Welcome to the July 2024 edition of The BR State + Local Tax Spotlight. We know the importance of remaining up-to-date on State + Local Tax developments, which appear often and across numerous jurisdictions. Staying informed on significant legislative developments and judicial decisions helps tax departments function more efficiently, along with improving strategy as well as planning. That is where The BR State + Local Tax Spotlight can help. In each edition, we will highlight important State + Local Tax developments that could impact your business.
We invite you to share The BR State + Local Tax Spotlight with your colleagues and visit Blank Rome’s State + Local Tax webpage for more information about our team. Click here to add State + Local Tax to your subscription preferences.
Joshua M. Sivin, Melanie L. Lee, and Summer Associate Henry Q.P. Valentine
ARTICLES
New Mexico Again Loses Unity of Foreign Income
By Mitchell A. Newmark
The New Mexico Taxation & Revenue Department wrongly ignored the statutory exclusion for foreign corporations incorporated in foreign countries that do not engage in a trade or business in the United States when it forced inclusion of such foreign subsidiaries in the New Mexico unitary filing group for Apache Corporation. Read More >>
To Be or Not To Be A Unitary Business
By Nicole L. Johnson
Oftentimes companies are on the defense in establishing that they are not operating a unitary business to avoid excessive taxation by a state. Read More >>
South Carolina Supreme Court Declares Facially Discriminatory Sales Tax Exemption Invalid
By Melanie L. Lee
It is well settled that states may not discriminate against interstate commerce in the name of intrastate economic development. Read More >>
Potential State and Local Tax Implications of the U.S. Supreme Court’s Decision in Loper Bright Enterprises v. Raimondo
By Kara M. Kraman
On June 28, 2024, the U.S. Supreme Court issued its decision in Loper Bright Enterprises et. al. v. Raimondo, in which it held that in interpreting ambiguous statutes, courts are not required to defer to agency interpretations. Read More >>
WHAT’S SHAKING: BLANK ROME STATE + LOCAL TAX ROUNDUP
Blank Rome’s nationally prominent State + Local Tax attorneys are thought leaders in the community as frequent guest speakers at various local and national conferences throughout the year. We invite you to attend, listen, and learn as our State + Local Tax attorneys interpret and discuss key legal issues companies are facing and how you can put together a plan of action to mitigate risk and advance your business in accordance with state and local tax laws. Read More >>