Jane Wells May
Subscribe to Jane Wells May's PostsJane Wells May focuses her practice on state and local tax matters. She represents businesses in connection with tax controversies at the audit, administrative and judicial levels around the United States. Her clients include companies in manufacturing, retailing, pharmaceuticals, financial services, agribusiness, food and beverage, health care, energy, technology and insurance industries. Jane heads the Firm's State & Local Tax Practice and sits on the Firm's Executive, Management and Compensation Committees. Read Jane Wells May's full bio.
Wisconsin Court of Appeals Rules That Department Cannot Deny John Deere DRD Because of the Department’s Prior Guidance on Foreign Distributions
By Jane Wells May, Richard C. Call and Jonathan C. Hague on Feb 26, 2021
Posted In Local Tax, Nationwide Importance, Wisconsin
The Wisconsin Court of Appeals, District IV, issued its decision in Wisconsin Department of Revenue v. Deere & Company, regarding the treatment of distributions from foreign partnerships that are treated as corporations for federal tax purposes. There were two questions presented in the case. The first issue was whether distributions received by John Deere qualified...
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While Virginia Supreme Court Holds “Subject-To-Tax” Means “Actually Taxed,” Determination of “Actually Taxed” is Relatively Broad for Purposes of Addback Exception
By Jane Wells May on Sep 6, 2017
Posted In Income Tax, Nationwide Importance, Tax Base, Virginia
On August 31, 2017, in a 4-3 split decision, the Virginia Supreme Court (Court) affirmed a circuit court’s ruling that in order for income to qualify for the “subject-to-tax” exception to its addback statute, the income must actually be taxed by another state. Kohl’s Dep’t Stores, Inc. v. Va. Dep’t of Taxation, no. 160681 (Va....
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Critiquing the ‘Subject-to-Tax’ Exception via Recent Authority
By Jane Wells May on May 19, 2016
Posted In Income Tax, Nationwide Importance, Tax Base
In this article, the authors examine recent judicial and administrative developments related to the “subject-to-tax” exception of state addback statutes and present avenues for potential challenge. Read the full article.
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Favorable New York Guidance on Sales and Use Tax Exemption for Noncommercial Aircraft
By Jane Wells May on Jul 28, 2015
Posted In New York, Sales Tax
On July 24, 2015, the New York Department of Taxation and Finance published guidance on the sales and use tax exemption for “general aviation aircraft,” effective September 1, 2015. N.Y. Dep’t of Taxation & Finance, TSB-M-15(3)S (July 24, 2015). The exemption, to be added as subsection (a)(21-a) of section 1115 of the Tax Law, exempts...
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More Tax Money for the City of Chicago in 2015: Broader Bases, Increased Rates and Lesser Credit
By Jane Wells May on Jan 8, 2015
Posted In Illinois, Local Tax, Property Tax, Sales Tax, Tax Base, Transaction Taxes
The City of Chicago’s (City’s) 2015 budget includes a number of changes to taxing ordinances found in titles 3 and 4 of the Chicago Municipal Code. The City of Chicago Department of Finance has notified taxpayers and tax collectors of the amendments, effective January 1, 2015, via a notice posted on its website. The text...
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Yes, Distortion is Enough: New York Tax Appeals Tribunal Clarifies Combined Reporting Requirements
By Jane Wells May on Oct 6, 2014
Posted In Income Tax, New York, Tax Base
On September 18, 2014, the New York State Tax Appeals Tribunal released its first decision interpreting New York State’s post-2007 combined reporting laws and, in doing so, answered a question that has been lingering in the minds of taxpayers and the Department’s auditors—whether distortion alone can still justify combined reporting. Reversing a June 2013 determination...
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National Conference of State Legislatures to Tackle Key State Tax Policy Questions
By Arthur R. Rosen, Diann Smith, Jane Wells May and Stephen P. Kranz on Mar 7, 2013
Posted In Constitutional Issues, Nationwide Importance, Procedure
The National Conference of State Legislatures’ (NCSL) Executive Committee Task Force on State and Local Taxation has expanded its scope to include all significant tax policy issues facing the states. As part of its expanded scope, the task force has met with industry representatives to identify tax policy topics that would benefit from the task...
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