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Results: 1-10 of 38

Nuclear power plant that produces steam and water to generate electricity not eligible for investment tax credit

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • May 2 2013

A New York State Administrative Law Judge has held that various assets operated by a pair of nuclear power plants to produce steam used to generate

Ohio Supreme Court skins CAT receipts derived from activities "related to" motor vehicle sales

  • Bricker & Eckler LLP
  • -
  • USA
  • -
  • December 7 2012

In a much-anticipated decision, the Ohio Supreme Court today issued a decision in which it held that the commercial activity tax (“CAT”) revenues based on gross receipts derived from transactions involving sales of motor vehicle fuel must be expended only for the purposes specified in the Ohio Constitution

Sixth Circuit holds that severance payments are not subject to FICA taxes

  • Snell & Wilmer
  • -
  • USA
  • -
  • November 15 2012

In United States v. Quality Stores, Inc., et al., the United States Court of Appeals for the Sixth Circuit recently held that severance payments qualified as supplemental unemployment compensation benefit (SUB) payments and were not taxable as wages under the Federal Insurance Contributions Act (FICA

Ride the lightning: electricity is intangible in Oregon

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • September 19 2012

The Oregon Tax Court issued its opinion in Powerex v. Dep’t of Revenue, TC 4800 (Or. Tax Ct., Sept. 17, 2012), holding that sales of electricity are sales of other than tangible personal property for Oregon apportionment purposes

Taxability of intangible assets case to be heard by California Supreme Court

  • Winston & Strawn LLP
  • -
  • USA
  • -
  • September 18 2012

Last year, in Elk Hills Power, LLC v. Board of Equalization, 123 Cal. Rptr. 3d 906 (2011), the California Court of Appeal held that a California power plant was correctly assessed and valued for property tax purposes by assuming the presence of intangible assets or rights (emission reduction credits or “ERCs”) necessary to put the taxable property to beneficial or productive use

In other news

  • Chadbourne & Parke LLP
  • -
  • Argentina, Brazil, Mauritius, South Africa, United Kingdom, USA
  • -
  • September 12 2012

The Internal Revenue Service notified the taxpayer that it is withdrawing a private ruling it issued earlier this year that said a company buying an operating wind farm did not have to allocate part of the purchase price to a long-term power contract that came with the project

State tax developments for energy and resources for June 2012

  • Faegre Baker Daniels
  • -
  • USA
  • -
  • July 5 2012

State tax laws are constantly in flux, particularly for taxpayers in the energy and resources industries

State tax developments for energy & resources

  • Faegre Baker Daniels
  • -
  • USA
  • -
  • June 6 2012

State tax laws are constantly in flux, particularly for taxpayers in the energy and resources industries

City of Des Moines and residents in row over franchise fees

  • Sutherland Asbill & Brennan LLP
  • -
  • USA
  • -
  • May 17 2012

Fees masquerading as taxes have become increasingly common

Texas judge reverses decision to extend state tax exemption to oil and gas extraction equipment

  • Lathrop & Gage LLP
  • -
  • USA
  • -
  • May 7 2012

Travis County District Judge John Dietz has ruled that drilling equipment, including well casing and “down-hole” equipment used to extract oil and gas, does not qualify for the Texas sales tax exemption for manufacturing property, reversing a ruling he handed down just last month

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