Weekly Round-Up: Weinstein Harassment Scandal Could Jeopardize N.Y. Tax Breaks; ‘Hamilton Tax’ Levied on Large-Scale Chicago Shows and Concerts


Highlights from the 10/16/17 through 10/20/17 issues of the Daily Tax Report: State :

  • ‘Hamilton Tax’ Levied on Large-Scale Chicago Shows and Concerts
    Chicago Mayor Rahm Emanuel (D) is proposing adjustments to the city's amusement tax to capture more revenue from large-scale theater productions and concerts, while exempting a broader group of small and medium-size entertainment venues.
  • Major League Soccer Expansion Kicks Off Stadium Financing Pitches
    Major League Soccer's efforts to expand its national footprint is prompting public financing plans that could range between $100 million and $300 million per stadium.
  • Taxes Ball-Hog Majority of NBA Players’ Salaries
    National Basketball Association athletes are paying more in taxes than ever before in the era of super-teams and super-contracts.
  • Tax Relief Available for California Wildfire Victims
    Taxpayers in seven northern California counties affected by wildfires this month have until Jan. 31, 2018, to file returns and make payments, the California Franchise Tax Board said.
  • Amazon Headquarters Bid Arrives From Chicago
    Chicago has submitted its proposal for the massive Amazon HQ2 project, but the Windy City withheld details of the offer “to ensure the competitiveness” of its bid.
  • White House Is Said Open to Preserving Part of State Tax Break
    The Trump administration is open to limiting the deduction for state and local taxes, instead of ending it altogether, if there's enough fiscal space in the Republican tax plan, according to a White House official.
  • Weinstein Harassment Scandal Could Jeopardize N.Y. Tax Breaks
    Harvey Weinstein's fall from grace could have a significant impact on the millions of dollars in tax incentives that New York hands out to the film industry and other companies.
  • Amazon Headquarters Pitch Highlights Colorado Talent
    Colorado's bid for Amazon.com Inc.'s second headquarters is eschewing the tax incentives-heavy formula used by many states.

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

  • Massachusetts Proposes Replacing Corporate Nexus Rule
  • Michigan Allows Micro Brewers to Provide Refunds, Product Replacements to Retailers
  • Oregon Tax Court Finds Taxpayers Not Entitled to Business Expenses Deductions
  • Nebraska: Deed of Trust Holder Not Responsible to Pay Property Taxes
  • Louisiana: Clearance Required for Sales Tax Resale Certificates

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 … 

Pennsylvania Supreme Court Finds Flat-Dollar NOL Cap Unconstitutional, But Upholds Percentage Cap by Eversheds Sutherland

2018 State Business Tax Climate Index by the Tax Foundation