Craig Fields

2 months ago | natlawreview.com | Craig Fields

Consistent with the decisions in several other states interpreting the Uniform Division of Income for Tax Purposes Act’s (“UDIPTA”) definition of nonbusiness income, an Arkansas Circuit Court concluded that gains from the sales of franchises constituted nonbusiness income since the company was not in the business of disposing of franchises. United States Beef Corp. v. Walther, Case No. 60 CV-22-2158 (Ark. Cir. Ct. Pulaski Cty. Mar.

Feb 20, 2025 | natlawreview.com | Craig Fields

The Pennsylvania Commonwealth Court held that the statutory division of a limited liability company (“LLC”) which resulted in the original LLC and five new companies—with each of the new companies owning a portion of the real estate of the original LLC—was not subject to state and local realty transfer tax as there was no transfer of real estate as contemplated by the statute. Kunj Harrisburg LLC, et. al. v. Commonwealth, No. 390 F.R. 2020 (Pa. Cmwlth. Jan. 10, 2025).

Oct 17, 2024 | natlawreview.com | Craig Fields

A U.S. District Court ruled that a Kentucky statute that requires the State’s Public Service Commission (“PSC”) to compute the reasonableness of the rates that utilities charge consumers by reducing fuel costs by any severance tax imposed by any jurisdiction unconstitutionally discriminates against interstate commerce and, therefore, granted an Illinois utility’s request for a permanent injunction of the law. Foresight Coal Sales LLC v. Chandler, Civil No. 3:21-cv-00016-GFVT (ED KY, Central Div.

Aug 16, 2024 | natlawreview.com | Justin Allen |Christine Townsend |Craig Fields |Joshua M. Sivin

On August 14, 2024, the Committee on Foreign Investment in the United States (“CFIUS”) disclosed that it had assessed a $60 million penalty against T-Mobile US, Inc. (“T-Mobile”) in connection with unauthorized data access incidents following T-Mobile’s 2020 merger (the “Merger”) with Sprint Corporation (“Sprint”). CFIUS is a U.S. government interagency body with regulatory authority over certain investments by foreign persons in U.S. businesses that may pose risks to U.S. national security.

Aug 16, 2024 | natlawreview.com | Craig Fields

Although a person having an officer title, being listed on tax documents as a “responsible person,” and having check signing authority will usually be found to be a “responsible person” for New York sales and use tax purposes, an individual was able to overcome this with the power of uncontroverted testimony. In re: Richard E. Saslaw, DTA No. 830808 (N.Y.S. Div. of Tax App., July 11, 2024).