Weekly Round-Up: Floyd Mayweather, Conor McGregor Ducking Taxes in Historic Bout; Overtime for LeBron James Stadium Tax: Repeal Petition Pulled


Highlights from the 8/28/17 through 9/1/17 issues of the Daily Tax Report: State :

  • Floyd Mayweather, Conor McGregor Ducking Taxes in Historic Bout
    Floyd Mayweather and Conor McGregor will land a massive payday from their much-hyped Aug. 26 bout, but Nevada's tax office won't be cashing in.
  • Texas Suspends Hotel Taxes in Wake of Hurricane Harvey
    Texas state and local hotel and motel occupancy taxes are suspended in the wake of Hurricane Harvey after a proclamation issued by Texas Gov. Greg Abbott (R).
  • Chip Inventor Wins $55 Million California Tax Fight
    Computer chip inventor Gilbert P. Hyatt's 24-year fight with the California Franchise Tax Board paid off for him with the State Board of Equalization ruling late Aug. 29 that he doesn't owe most of the $55 million the FTB claimed he did.
  • Overtime for LeBron James Stadium Tax: Repeal Petition Pulled
    What a difference three days can make. Once set on killing a $140 million stadium-renovation deal, protesters against the ticket tax funding a facelift to the Cleveland Cavaliers’ arena suddenly withdrew their petition to repeal the tax under heavy pressure from community leaders on Aug. 31.
  • First U.S. Prosecution Over ‘Zapper’ Software Nets Guilty Plea
    A Seattle-area restaurant owner accused of using software to hide receipts and steal sales tax revenue pleaded guilty Aug. 30 in the first such prosecution in the U.S., the Washington Attorney General's office said.

Some notable developments from the State Tax Developments Tracker —Bloomberg BNA’s tool for monitoring important developments in all the states:

  • South Carolina Court of Appeals Finds $8.5M DirecTV Tax Bill Ok
  • Alabama Offers Tax Relief to Taxpayers Affected by Texas Flooding
  • Ohio Increases McDonald's Restaurant Valuation Based on Board of Education's Appraisal
  • Rhode Island Department of Revenue Warns Taxpayers, Businesses About Scam

Get a free trial to Bloomberg BNA Tax & Accounting's State Tax solution , a comprehensive research service that provides deep analysis and time-saving practice tools to help practitioners make well-informed decisions.

In other developments … 

Virginia Supreme Court Limits Corporate Income Tax Addback Exception by Eversheds Sutherland

Oregon Tax Court - Revenue from online educational services sourced based on faculty costs by PwC

The Effects of Converting the State and Local Tax Deduction into a Credit by the Tax Foundation