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Taxpayer wins New York bank tax case: Division of Tax Appeals determines that department violated its own published guidance

  • Reed Smith LLP
  • -
  • USA
  • -
  • November 15 2013

In a recent decision, the New York State Division of Tax Appeals soundly rejected a determination by the New York State Department of Taxation and

Two more courts 'just say no' to transfer taxes for Fannie and Freddie

  • Reed Smith LLP
  • -
  • USA
  • -
  • May 7 2013

Last week, two more federal district courts dismissed suits seeking to collect transfer real estate taxes from Fannie Mae, Freddie Mac, and their

Pennsylvania Supreme Court schedules oral argument in bank shares tax case

  • Reed Smith LLP
  • -
  • USA
  • -
  • October 25 2012

The Pennsylvania Supreme Court has decided to hear oral argument in the Lebanon Valley Farmers Bank case, and has scheduled the argument for November 27

Fannie Mae and Freddie Mac are both plaintiffs and defendants in transfer tax cases in Illinois

  • Reed Smith LLP
  • -
  • USA
  • -
  • July 2 2012

As predicted, Illinois has realized its potential to realize on real estate transfer taxes with Fannie Mae and Freddie Mac

State tax thought of the day: look outside the ‘bank’ box!

  • Reed Smith LLP
  • -
  • USA
  • -
  • November 29 2011

In this era of change for financial institutions, most in the industry have had their hands full with regulatory compliance

PA bank shares tax: big news for banks involved in mergers

  • Reed Smith LLP
  • -
  • USA
  • -
  • August 4 2011

Today, the Commonwealth Court decided the Lebanon Valley Farmers Bank case

Beware of liabilities lurking in testamentary and charitable trusts

  • Reed Smith LLP
  • -
  • USA
  • -
  • May 7 2009

In an era of unprecedented bank mergers and consolidations, many bank trust officers and wealth managers may find themselves undertaking responsibility for hundreds, and in some cases, thousands of trusts formerly administered by another institutional fiduciary or agent

Pennsylvania Supreme Court rejects due process challenge to bank shares tax; other constitutional issues involving the bank shares tax remain unresolved

  • Reed Smith LLP
  • -
  • USA
  • -
  • October 24 2007

On October 17, the Pennsylvania Supreme Court issued its decision in Allfirst Bank v. Commonwealth, upholding the Constitutionality of the Pennsylvania bank shares tax as applied to banks with non-Pennsylvania shareholders