Tax Law and International Tax Law

Idaho's newly approved Opportunity Zones offer tax incentives to investors who fund development projects in designated communities across the state. The program connects private capital with real estate and business ventures in areas including Boise, Coeur d'Alene, and Post Falls, potentially bringing new housing, jobs, and economic activity to these regions.

An S corporation election offers early-stage tax advantages but introduces significant constraints on venture financing, equity compensation structures, and exit strategies. Understanding five key restrictions—from shareholder eligibility rules to QSBS disqualification—helps founders determine whether S corporation status aligns with their growth trajectory and capital-raising plans.

The federal Opportunity Zone program has been made permanent through the One Big Beautiful Bill Act, introducing significant changes to tax deferral rules, census tract designations, and investment incentives. Understanding how Opportunity Zones 2.0 differs from the original program is critical for business owners, investors, and real estate developers planning transactions in 2026 and beyond.

Texas Comptroller Don Huffines has issued an executive order directing his office to amend Rule 3.330 to remove marketplace and platform fees from the definition of taxable data processing services, potentially ending what he calls a "hidden double tax" on online marketplace sellers, food delivery apps, ride-hailing services, and other platform-based businesses.

DDP can sound like the perfect solution for a customer: the seller handles everything and delivers the goods. But for the seller, Delivered Duty Paid can bring obligations and costs that aren’t always obvious when the deal is made.

The Texas Comptroller has issued an executive order that fundamentally changes how data processing taxes apply to electronic commerce transactions, specifically targeting marketplace and platform fees that have been subject to controversial taxation. This policy shift addresses a longstanding issue where businesses faced potential double taxation on marketplace transactions, with both the platform fee and the underlying sale being taxed separately.

While those upward bracket shifts may provide meaningful tax savings on higher-value properties, Washington’s Real Estate Excise Tax (“REET”) structure remains one of the most closely watched elements of transactional planning for commercial and residential property owners and developers. Because Washington applies a tiered, progressive REET rate system for real estate sales, alongside strict rules governing the transfer of controlling interests in entities that own real property, even minor statutory adjustments can drastically alter the economics of a transaction if deal timing or contract mechanics are mishandled.

A New York court has temporarily halted the implementation of New York City's pied-à-terre tax, ruling that the city's notices to homeowners were arbitrary and violated due process rights. The judge ordered the city to restart the entire rollout process while separate lawsuits challenge the tax's legality itself. Despite the stay, property owners who received notices are advised to continue filing for exemptions pending further court guidance.

A New York Supreme Court Justice has struck down the rollout of the pied-à-terre tax, ruling the Department of Finance's implementation plan arbitrary and capricious. The decision comes as two new constitutional challenges are filed against the tax, with prominent figures including former Commerce Secretary Wilbur Ross arguing it unconstitutionally targets nonresidents of New York City.

How are multinational enterprises adapting their transfer pricing (TP) strategies in response to the OECD’s Pillar One and Pillar Two implementations, particularly Amount B and the global minimum tax? What major changes do you anticipate in global TP guidance through 2026?

The OECD's proposed revision of Chapter VII of the Transfer Pricing Guidelines aims to clarify the framework for intra-group services, with the benefit test emerging as the central analytical principle.

The IRS has intensified scrutiny of partnership basis-shifting transactions that manipulate inside and outside basis rules to generate tax savings. While recent regulations were withdrawn under the Trump Administration, the agency maintains its position through Rev. Rul. 2024-14, which identifies three transaction types that fail the economic substance doctrine.