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The BR State + Local Tax Spotlight: July 2024

The BR State + Local Tax Spotlight

Click here to download this edition of The BR State + Local Tax Spotlight.

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. SivinMelanie 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 >>


© 2024 Blank Rome LLP. All rights reserved. Please contact Blank Rome for permission to reprint. Notice: The purpose of this update is to identify select developments that may be of interest to readers. The information contained herein is abridged and summarized from various sources, the accuracy and completeness of which cannot be assured. This update should not be construed as legal advice or opinion, and is not a substitute for the advice of counsel.