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Biden Sworn In Amid Historic Challenges

Joseph Robinette Biden Jr. was sworn in as the 46th president of the United States, taking control of a nation wracked by a deadly pandemic, persistent unemployment and burgeoning social unrest to cap the most acrimonious transfer of power in modern American history.

EU Gets Court Boost in Fight Over Spanish M&A Tax Breaks

The European Union’s competition authority got another boost in its court fight with Spanish companies, including Banco Santander SA, over a decision forcing them to pay back millions of euros in tax breaks for the acquisition of stakes in foreign companies.

N.Y. SALT Cap Workaround Should Apply Broadly, Law Group Says

Any business-level tax that New York enacts to help individuals avoid the federal limit on state and local deductions should apply to both partnerships and S corporations, in line with such taxes in states that include New Jersey and Wisconsin, the New York State Bar Association’s tax section says.

New Jersey Revenue Rose 44.8% in December on Pass-Through Tax

New Jersey’s major tax revenue rose 44.8% in December from a year earlier primarily due to the new pass-through business alternative income tax, which was established last January to provide relief to state taxpayers negatively impacted by the cap on the federal deduction for state and local levies.

Democratic Control of Congress Sets Stage for More Stimulus, Higher Taxes

Democrats are set to take control of the U.S. Senate, House and presidency, paving the way for Joe Biden to bring his legislative agenda to life and reshape the American economy.

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Tax Breaks in Stimulus Fulfill Lawmakers' Wish Lists