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Exchange Prior To Split-Off Disregarded
December 3, 2024
Mr. A owned 1/2 of the capital stock of M corporation, (M), worth $10x, and he also owned 1/2 of the capital stock of O corporation, (O), worth $5x. &nbs...

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Recent Reports

Los Angeles "Mansion" Tax Is A "Tax" For Tax Injunction Act Purposes
December 3, 2024
B appeals the district court's dismissal of his complaint alleging that a City of Los Angeles ordinance, adopted through a citizens' initiative, violated state and fede...
Corporate "Insider" Denied A Theft Loss Deduction
December 3, 2024
In February 2014, S began investing in a company called "D." S also made several loans to D. The loans were never repaid. In Marc...
Late Filed Property Tax Appeal Was Ruled Valid
December 3, 2024
The County Board of Equalization's Decision...had been to deny an exclusive use property tax exemption for the parcel. As the Property Owner's appeal had not been filed...
New York City's Tax Classification Of Land Was Arbitrary And Capricious
December 2, 2024
The premises is a vacant and unimproved land that is zoned as R6 (residential), with a C1-4 commercial overlay. The Department of Finance classified the property as Building Cl...