Worldwide: Tax Authorities

California manufacturers now have access to a new method for calculating R&D tax credits that could significantly increase their benefits while reducing documentation requirements.

This Snippet provides an overview of the impact of the Side-by-Side Safe Package for Pillar Two on US inbound structures, i.e. non‑US parented multinational groups with operations in the US.

The One Big Beautiful Bill Act (OBBBA) of 2025 introduces comprehensive tax reforms designed to revitalize US manufacturing through permanent 100% bonus depreciation, expanded immediate expensing for production facilities...

Michigan's Department of Treasury has reversed its controversial position on wholesale cannabis tax administration, clarifying that product transferred to retailers before January 1, 2026 will not be subject to the new wholesale tax when resold between retailers. This reversal aligns Treasury guidance with the actual statutory language requiring tax only on the first transfer from wholesaler to retailer.

Federal regulators navigate the intersection of prediction markets and gambling law, while the FDIC reverses course on NSF fee guidance and Treasury proposes new rules for remittance transfer taxation. Major financial institutions see long-standing enforcement actions terminated as regulatory priorities shift under new leadership.

The International Organization for Standardization recently released ISO 27914:2026, establishing new standards for underground CO₂ storage in geological formations.

New York state tax law currently provides that a New York resident person, including a trust, that owns stock that is qualified small business stock (QSBS) under Section 1202 of the Internal Revenue Code...

Section 529 plans provide a tax-advantaged way to save for education expenses, but account holders should be mindful of important differences...

Mississippi's proposed legislation to exempt student-athletes' NIL income from state taxation has officially been shelved...