Tax Law Updates

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Steinhart v. Co. of Los Angeles: Transfer of Life Estate is a “Change in Ownership” of Real Property

By H. Jacob Lager of Zuber & Taillieu LLP

The Supreme Court of California ruled that transfer of property to a revocable trust of which the transferor is sole beneficiary does not constitute a “change in ownership” triggering property reassessment under California law because the owner is still essentially the same person. However, if that trust subsequently becomes irrevocable… More...

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CA State Assembly Passes Bill That Classifies Offshore Income As Domestic Income

California State Assembly AB 1178  |  AB 1178  |  1/28/2010

The California State Assembly has approved by a vote of 41 to 28 legislation (“AB 1178”) that would classify income from offshore tax havens as domestic income for tax purposes. More...

VA Senate Passes Bill Mandating Online Travel Companies to Collect Taxes on Hotel Accommodations

Retail Sales and Use Tax: Taxes on Room Rentals  |  SB, 452  |  2/1/2010

The State of Virginia Senate has passed by a unanimous vote of 40-0 SB 452, a legislation that authorizes third party intermediaries (i.e. online travel companies) to collect retail sales and use taxes on the full price paid for hotel accommodations. More...

CA Senate Shores Up Revenues with Passage of Tax Bill on Online Retailers Like Amazon.com

An act to amend Sections 31 and 7145.5 of the Business and Professions Code, and to amend Sections 6203, 19116, 19504, and 19777  |  ABX8 8  |  2/18/2010

The California State Senate has passed legislation that requires online retailers like Amazon.com and Overstock.com to collect taxes from its customers as part of a massive government effort to shore up revenues in the face of a $20 billion budget short fall. More...

CA Commission on the 21st Century Economy Releases Proposed Tax Reform Package

The California Commission on the 21st Century Economy’s Proposed Tax Plan  |  AB No. ___  |  9/9/2009

The California Commission on the 21st Century Economy has released its draft legislative proposals on tax reform. More...

CA Legislation Mandating Reporting of Use Tax in State Income Tax Returns Undergoes Second Amendment

An Act to Amend Sections 6452.1, 6453, 6487.3, and 18510 of the Revenue and Taxation Code, Relating to Taxation  |  No. 469  |  8/17/2009

This California Board of Equalization (“Board”)-sponsored bill would require consumers who have failed to report use tax to the Board on their taxable purchases for the preceding year to report the use tax on the income tax returns for the taxable year in which the liability for the qualified use tax was incurred. More...

Hawaii State Tax Bill on Internet-Based Merchants Passes Senate, Is Transmitted to the Governor for Approval

A Bill for An Act Relating to the General Excise Tax  |  H.B. 1405, H.D. 2, S.D. 1  |  5/11/2009

Hawaii is the latest state to try securing tax revenues from online sales. More...

California State Assembly to Tax Sales of Out-of-State Internet Companies, But Amazon.com Threatens to Leave California

Assembly Bill 178  |  A.B. 178  |  2/2/2009

California Assembly Bill 178 (“AB 178”) seeks to provide a level playing field to ensure that California businesses, both brick and mortar and e-commerce, do not face an unfair competitive disadvantage against out-of-state internet retailers. More...

Rep. Tanner’s Bill Extends Look-Through Treatment of Payments Between Controlled Foreign Corporations

To amend the Internal Revenue Code to extend the look-through treatment of payments between related controlled foreign corp.  |  H.R. 2098  |  4/23/2009

Rep. John S. Tanner has introduced on April 23, 2009 a legislation would extend through January 2015 the look-through treatment of payments between related controlled foreign corporations. More...

Texas House and Senate Approve Bill Providing More Incentives for Film, TV, and Video Game Producers

An Act relating to incentives for the film, television, video, and digital interactive media production industries  |  H.B. 873  |  4/17/2009

In a 27 to 1 vote, the Texas Senate has approved a legislation that seeks to attract more movie, television, film, and digital interactive media production to the state of Texas through the grant of more incentives. More...

Rep. Foxx’es Bill Abolishes Withholding of Income and Social Security Taxes

Federal Withholding Tax Repeal Act of 2009  |  H.R. 1919  |  4/2/2009

Rep. Virginia Foxx, R-N.C., has introduced the Federal Withholding Tax Repeal Act of 2009 (H.R. 1919), a bill would repeal the withholding of income and Social Security taxes.





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Companies Mentioned

Tax Law

The following companies are mentioned in Tax Law Updates:

Internal Revenue Service

Swallows Holding, Inc.

The State of New York

New York State Department of Taxation and Finance

Amazon.com LLC

Amazon Services, LLC

Agere Systems, Inc. f.k.a. Lucent Technologies, Inc.

Detroit Medical Center

Department of Justice

Santini Stone LLC

City of Chicago

StubHub, Inc.

Mayer Brown LLP d.b.a. Mayer, Brown, Rowe & Maw LLP

Textron Inc.

County of Los Angeles

Additional Resources

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