IP and Legal Filings

AUGUST 4, 2022

Double taxation is charging tax on the same income or subject twice for the same objective, term, and tax jurisdiction. When such income is taxed in two nations, the total tax burden will be high. The Group advocated separating taxing rights between the country of residence and the country of origin.

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IP Law 360

DECEMBER 11, 2023

The Seventh Circuit should reject the federal government's claim that a healthcare software company wrongly took $3 million in tax deductions meant for domestic software production, the company argued, saying the government inaccurately described its product licensing costs as disqualifying service fees.

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IP and Legal Filings

JUNE 29, 2022

“It was only for the good of his subjects that he collected taxes from them, just as the Sun draws moisture from the Earth to give it back a thousand fold” – Kalidas in Raghuvansh eulogizing King Dalip. TYPES OF TAXES. Majorly there are two types of taxes namely, direct taxes and indirect taxes. DIRECT TAXES.

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Michael Geist

SEPTEMBER 1, 2023

The implications are therefore pretty clear: there is little likelihood that Meta will restore news links in Canada and Google is more likely to follow the same path as the Canadian government establishes what amounts to 4% link tax from Bill C-18 on top of a 3% digital services tax and millions in Bill C-11 payments.

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IP and Legal Filings

OCTOBER 19, 2023

Introduction The GST Council in the meeting conducted earlier this year, announced a raise in the taxation of Online Gaming and Horse racing from 18 percent tax slab to 28 percent tax on the “ face value”. Post amendment, its now being added in the third schedule impacting the tax amount yield.

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The IPKat

MARCH 11, 2024

One of the sure things in the world of royalties and royalty rate calculations is taxes. Katfriend Thato Moloto (Trademarkia) writes on the methods used in calculating royalty rates for IP licences to enable the determination of appropriate taxes. If AI did the work, would we pay taxes.

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Licensing Intellectual Property IP Branding 57

JD Supra Law

NOVEMBER 22, 2023

To encourage companies to invest locally in R&D that produces valuable innovations and economic growth, governments in jurisdictions around the world have implemented tax incentives, typically called a “patent box” or “IP box”, that tie a tax advantage to commercially relevant IP. By: Smart & Biggar

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LexBlog IP

JUNE 14, 2023

Earlier this month, the IRS released much-awaited guidance on what areas will qualify as an “energy community” for purposes of the energy production and investment tax credits in Notice 2023-29. Per the Notice, “[d]etermining the level of Fossil Fuel Tax Revenue. ” 42 U.S.C. § § 9601(39)(A).

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JD Supra Law

NOVEMBER 6, 2023

As Benjamin Franklin famously remarked, “nothing is certain except death and taxes.” Recently, the U.S.

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Litigation Patent Infringement Business Patent 75

IP Law 360

JANUARY 31, 2023

Treasury Department should clarify that an exception outlined in proposed foreign tax credit regulations applies to withholding taxes on royalty payments for intangible property licensing based on where the taxes were levied, an attorney representing media company Getty Images said in a letter to the department.

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Licensing 75

Legal Zoom

FEBRUARY 22, 2022

In the US, different levels of income are taxed at different rates. Federal tax brackets indicate the rate to be paid on each level of taxable income. As taxpayer income increases, it is taxed at higher rates, which is a progressive tax system.

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IP Law 360

NOVEMBER 3, 2023

The Seventh Circuit should uphold a decision that nixed a health care software company's $3 million tax deduction for developing software in the U.S., the federal government argued, saying the company tried to deduct service fees, not online software access that qualified for a deduction.

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IP Law 360

SEPTEMBER 25, 2023

AMC and Sony Pictures did not infringe Liberty Tax Service's trademark and trade dress with a fictional business in the hit show "Better Call Saul" whose owner is imprisoned for embezzlement, a Manhattan federal judge ruled Monday.

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Legal Zoom

JUNE 21, 2022

You aren't alone if you don't look forward to filing taxes – but tax season doesn't have to be a nightmare. Advance planning and solid organization can help your business navigate successfully and smoothly through tax season.

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Business 72

Legal Zoom

AUGUST 12, 2021

Some states implement a franchise tax on businesses for the privilege of being chartered or operating within their borders. Unlike a state income tax, which is calculated on the business's profit, franchise tax may not be tied to annual revenue.

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LexBlog IP

OCTOBER 5, 2023

The information you provide to your tax preparer is as sensitive as it gets. The assumption is that the tax preparation company is only using your data to prepare your taxes. The IRS has issued guidance for tax preparers on how to implement a data security plan and how to follow the FTC’s Safeguards Rule.

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IP Law 360

AUGUST 14, 2023

A Wisconsin-based health care software company asked the Seventh Circuit to reverse a decision that denied it nearly $3 million in tax deductions for developing software in the U.S., saying the lower court had mischaracterized its product as an e-commerce service for nursing homes.

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CoCal IP Law Institute

NOVEMBER 2, 2023

Tax Court Case of the Century A unique and dramatic presentation by a former IRS Estate Tax Attorney, Michael J.

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Litigation Law 40

LexBlog IP

JANUARY 24, 2022

Welcome to 2022 tax season! However, there were many question marks with the Paycheck Protection Program, such as the timing of forgiveness and if eligible expenses are deductible for federal income tax purposes. Timing of PPP loan forgiveness. Recently, the IRS released guidance on the timing of PPP Loan forgiveness.

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Business Intellectual Property 98

IP Law 360

DECEMBER 15, 2023

Tax Court in a decision finding medical device company Medtronic Inc. asked the Eighth Circuit on Friday to reject a transfer pricing method used by the U.S. underreported its income, saying the methodology violated Treasury regulations and still failed to accurately account for the company's income.

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IP and Legal Filings

SEPTEMBER 21, 2022

State of Karnataka [1] (2022 (5) TMI 401) gave a verdict which states that “there is no conflict between the power to levy GST under GST laws and the power of Municipal Corporation to levy Advertisement Tax under Section 134 of the Karnataka Municipal Corporations Act, 1976 (‘KMC Act’, for brevity).”. GST & ADVERTISEMENT TAX.

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Advertising Advertising Government Law 52

IP Law 360

AUGUST 8, 2023

A Southern Illinois University math professor cannot reverse his conviction for concealing a Chinese bank account that led to criminal charges of filing false tax returns and violating foreign bank reporting regulations, the Seventh Circuit ruled Tuesday.

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Reporting 74

IP Law 360

JULY 19, 2023

Since the Internal Revenue Service recently announced that numerous collectives creating paid name, image and likeness deals for collegiate student-athletes do not qualify for tax exemption, for-profit entities and alternative collective structures with incidental student-athlete benefits may be considered to fund NIL ventures, says David Kaufman at (..)

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Michael Geist

AUGUST 9, 2023

The Canadian government released a detailed document last week outlining the specifics behind its draft Digital Services Tax Act. government given that it envisions a retroactive three percent tax that will hit a wide range of businesses. The document has sparked criticism from business groups and the U.S. will not retaliate.

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IP Law 360

SEPTEMBER 20, 2022

s challenge to a $50 million tax bill by bolstering its argument that it's entitled to deduct the costs of patent litigation suits, Mylan told the Third Circuit. A recent Court of Federal Claims decision supports Mylan Inc.'s

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Stock Legal Blog

JULY 6, 2021

Those that were able to hang on to their employees during these tough times are eligible for tax credits. Many employers struggled keeping their employees on the payroll amid government ordered shutdowns.

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Government 98

Michael Geist

NOVEMBER 21, 2023

The government has taken the first step to creating a bailout for its disastrous Bill C-18 by agreeing to News Media Canada demands to increase the support under the Labour Journalism Tax Credit.

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Government Journalism 144

Legal Zoom

JULY 19, 2021

Don't let your gig work lead to a surprise tax bill. Follow these tax dos and don'ts for gig workers to prepare for taxes and lower your tax bill.

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Legal Zoom

JUNE 6, 2022

If you purchase a vehicle for your business, it pays to understand the nuances of current tax law. How can you use Section 179 and bonus depreciation to maximize your tax deduction? Here's how to get a bigger tax break for buying a car.

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Business Law 78

Managing IP

MAY 4, 2023

Managing IP’s sister publication International Tax Review has published a special report on IP and tax – you can read it here

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Reporting IP Publishing Trademark 52

IP Law 360

MARCH 23, 2023

Roc-A-Fella Records co-founder Damon Dash must deliver his tax returns to the film company and director trying to collect an $805,000 judgment against him for wrongly claiming he owned the copyright to their film, a New York federal court said.

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IP Copyright 74

Legal Zoom

OCTOBER 22, 2021

The IRS is typically willing to work with taxpayers who make an effort to get caught up on their tax filing obligations. Filing back taxes can help you avoid drastic IRS collection efforts.

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Michael Geist

DECEMBER 16, 2021

For the past two years, Canadian digital tax policy has been on a collision course with Canadian trade policy. The Liberal government committed in the 2019 election campaign to a digital services tax primarily designed to target large U.S. For example, after France announced plans for a similar tax, the U.S.

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Social Media Advertising Advertising Government 89

Michael Geist

JANUARY 31, 2022

There has been mounting concern over the past few years over whether some of the world’s largest companies – primarily big tech – pay their fair share of taxes. This issue has arisen in countries around the world leading to new digital services taxes that primarily target the U.S. threatening to retaliate in response.

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IP Law 360

JANUARY 24, 2023

Liberty Tax Service's lawsuit accusing AMC Networks and Sony of disparaging the company by depicting a similar business that stole customers' cash in "Better Call Saul" stretches trademark and defamation laws "beyond their breaking point" and should be thrown out, the show's creators told a New York federal judge Tuesday.

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Business Trademark Law 75

IP Law 360

JUNE 22, 2022

A Virginia bankruptcy court's recent ruling in the case of defunct law firm LeClairRyan shows there may be serious tax consequences for pass-through entity partners who give up their ownership interest without following operating agreement exit provisions and updating bankruptcy court filings, say Edward Schnitzer and Hannah Travaglini at Montgomery (..)

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Ownership Law 75

Michael Geist

JULY 31, 2023

The post The Law Bytes Podcast, Episode 176: A Mid-Summer Update on Bills C-11, C-18, the Government’s Cabinet Shuffle, and the Brewing Battle over Digital Taxes appeared first on Michael Geist. Barring some urgent news, the podcast will be taking a break in August and return in September. Updates on the podcast on Twitter at @Lawbytespod.

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