Key Ruling Affecting Maryland Taxpayers With Out-Of-State Income [Duane Morris LLP]

Maryland residents who pay income tax to other states may be entitled to a refund of local income taxes paid in prior tax years. The U.S. Supreme Court in Comptroller of the Treasury of Maryland v. Wynne et ux. recently affirmed a Maryland Court of Appeals ruling that the state’s personal income tax violates the U.S. Constitution’s dormant Commerce Clause, which precludes states from passing legislation that improperly burdens or discriminates against interstate […]

By |June 10th, 2015|

UTELCOM Analysis Endorsed In Louisiana Franchise Tax Nexus Dispute

In Bridges v. Polychim USA, Inc,1 the Louisiana First Circuit Court of Appeal overturned a trial court’s summary judgment ruling that an out-of-state corporation was subject to the Louisiana franchise tax, and remanded the case back to the trial court for further consideration. The corporation’s primary connection to Louisiana was an indirect ownership interest in a general partnership doing business in Louisiana. The decision endorses the analysis undertaken by the same court in UTELCOM, […]

By |June 8th, 2015|

China: The Balance Between The Tax Authorities And The Customs [Grant Thornton]

Since the release of The Administrative Measures of Special Taxation Adjustment, as Guoshuifa [2009] No. 2 (“Circular 2”) by China State Administration of Taxation (the “SAT”) in 2009, the preparation and submission of contemporaneous transfer pricing (“TP”) documentation has been compulsory to many enterprises in China. As stipulated in Circular 2, Chinese enterprises who meet the requirements should submit contemporaneous TP documentation to the tax authorities on time. In this regard, many enterprises may […]

By |June 5th, 2015|