Earlier this month, Connecticut Governor Dan Malloy released his Governor’s Bill addressing the various state tax implications of the federal tax reform bill enacted by Congress in December 2017, commonly referred to as the “Tax Cuts and Jobs Act.” Among other things, the Governor’s Bill addresses Connecticut’s treatment of the foreign earning deemed repatriation tax provisions of amended section 965 of the Internal Revenue Code (IRC). While the Governor’s Bill does not explicitly provide that the addition to federal income under IRC section 965 is an actual dividend for purposes of Connecticut’s dividend received deduction, the bill does protect Connecticut’s ability to tax at least part of the income brought into the federal tax base under the federal deemed repatriation tax provisions by defining nondeductible “expenses related to dividends” as 10 percent of the amount of the dividend. Continue Reading Connecticut Responds to the Federal Repatriation Tax

Inside SALT: Significant State Tax Developments and Opportunities

June 8, 2017 – New York, NY

Lawyers in McDermott Will & Emery’s State and Local Tax Group present an informative half-day program. A wide range of topics will be discussed, including:

  • New York developments, including false claims and budget provisions
  • Nexus updates and developments in digital taxation
  • New developments in apportionment, transfer pricing developments and unclaimed property

You can still register! Click here to view more details and register for the event.

Tax in the City®: A Women’s Tax Roundtable

June 8, 2017 – Chicago, IL

McDermott Will & Emery’s Tax in the City® is a discussion and networking group for women in tax that facilitates in-person connections and roundtable study group events around the country.

At this year’s second edition of Tax in the City®, we will host a CLE/CPE discussion focusing on current developments in professional responsibility and ethics, including a presentation focused on ethical issues arising out of our increasing access to connectivity (such as Facebook, Twitter, and other social media outlets). This will be followed by a substantive lunch program featuring the following topics:

  • Best Practices for Drafting Tax Provisions in Commercial and Other Contracts
  • Getting Ready for 2018 – Taking Steps to Prepare for Rules that Become Effective 01/01/2018
  • Tax Reform – What Can / Should You Be Doing Now?

To find our more information about Tax in the City® and get involved in future events, please email khazel@mwe.com, jmay@mwe.com or smcgill@mwe.com.