Last summer, I wrote two columns about a peculiar tax case that the Supreme Court decided to hear. Although the amount of tax involved in the case was less than $15,000, ruling in the taxpayer’s favor could have fundamentally gutted the Internal Revenue Code. A major part of the 2017 Tax Cuts and Jobs Act … Read more
In Moore v. United States, the U.S. Supreme Court rejected a constitutional challenge to the Mandatory Repatriation Tax (MRT), holding that the MRT does tax income — the realized earnings of foreign corporations — and thus is a constitutionally permissible income tax authorized by the Sixteenth Amendment. The MRT is a “one-time, backward-looking” tax in … Read more
Key Takeaways The Supreme Court upheld the constitutionality of the so-called mandatory repatriation tax (MRT) in a narrow ruling, stating that the MRT taxes realized income and attributes that corporate income to shareholders. A team of BakerHostetler attorneys, led by Partners Andrew Grossman and Jeffrey Paravano, represented Charles and Kathleen Moore at the U.S. Supreme … Read more
Nikos Michaloliakos, former leader of Golden Dawn, will return to prison after the Court of Appeals nullified a previous ruling that had allowed his release. He was convicted of leading a criminal organization and will continue to serve his 13-year and 6-month sentence. The decision came after judges accepted the prosecutor’s recommendation, citing Michaloliakos’ continued glorification of illegal Nazi-type practices despite his conviction as a reason for his return to prison.
The text discusses gross receipts taxes, which are imposed on businesses based on their gross sales before deducting operating costs. Seven states have a state-level gross receipts tax, while three allow municipalities to assess it locally. Gross receipts taxes have a long history but have fallen out of favor in recent decades. States often differentiate tax rates based on industry or revenue levels. Some states, like Nevada and Washington, have poorly structured gross receipts taxes that are legally problematic. Ohio and Oregon have recently made changes to their gross receipts taxes. Overall, the text argues that gross receipts taxes are harmful and should be replaced with a well-structured corporate income tax.
Fact: A federal appeals court panel rejected a bid by U.S. President Joe Biden’s son to dismiss criminal gun charges, clearing the way for Hunter Biden’s June 3 trial.
Harvey Weinstein will be retried in New York after his 2020 rape conviction was thrown out by the state’s highest court. The Manhattan District Attorney’s Office confirmed the decision in court, with Weinstein appearing in a wheelchair. He had been serving a 23-year sentence but was transferred to Bellevue Hospital following the order. The new trial is expected to take place after Labor Day, with Weinstein’s attorney expressing confidence in a ‘not guilty’ verdict. The retrial was prompted by the Court of Appeals finding that Judge James Burke allowed testimony of alleged sexual assaults not related to the charges against Weinstein, violating his right to a fair trial. Harvey Weinstein co-founded Miramax and his own film studio, which filed for bankruptcy in 2018.
Harvey Weinstein’s 2020 rape conviction has been overturned by a New York court, leading to a new trial in the landmark #MeToo case. The court found that the trial judge made errors by allowing testimony from women not part of the charges and by allowing prejudicial cross-examination. The decision now rests with Manhattan District Attorney Alvin Bragg on whether to retry Weinstein, who is currently serving a 23-year prison sentence.
New York’s highest court overturned Harvey Weinstein’s 2020 sex crimes conviction due to critical mistakes made by the trial judge. The court ruled that allowing testimony from women who were not part of the charges and cross-examining Weinstein in a prejudicial manner was an abuse of judicial discretion. The decision calls for a new trial.
Fact: Under a new bill signed into law on March 11, 2024, the South Carolina Department of Revenue will have to satisfy additional standards before it may force affiliated corporate taxpayers to file a unitary combined return.