The National Law Forum

The Blog of the The National Law Review

Category Archives: Tax

Supreme Court to Maryland City: Drop Dead – State Income Tax Violates Dormant Commerce Clause

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On October 30, 1975, The Daily News published one of the most famous headlines in American history – Ford to City: Drop Dead – to paraphrase President Ford’s refusal to extend federal financial assistance to New York City to prevent the City from declaring bankruptcy.  Nearly 40 years later, a different branch of the federal …

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U.S. Supreme Court’s Wynne Decision Calls New York’s Statutory Resident Scheme into Question

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On May 18, the U.S. Supreme Court issued its decision inComptroller of the Treasury of Maryland v. Wynne. In short, the Court, in a five-to-four decision written by Justice Alito, handed the taxpayer a victory by holding that the county income tax portion of Maryland’s personal income tax scheme violated the dormant U.S. Constitution’s Commerce …

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Tax Issues in Divorce: Real Estate Itemization Credits

With the April 15th tax filing deadline quickly approaching, I am beginning to see an increase of the tax-related issues arise in my client’s cases.  The right of either of the parties to claim itemized deductions associated with the real estate taxes and mortgage interest paid on the marital residence is a frequent issue of …

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The Artist’s Legacy – Gifts of Art to Family and Friends

On January 1, 2015, the gift and estate tax exemption increased to $5.43 million per person and to $10.86 for a married couple.  Artists who hope to take advantage of the increased exemption face unique challenges when making gifts to family and friends of visual art they have created.  Although specific situations can differ widely, …

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February 2015 State Tax Credit and Incentive Update

This is the second in a monthly series outlining updates in state tax credits and incentives, including legislative, gubernatorial and case law updates. While we recognize that tax credits and incentives are often criticized by some tax policy experts, they are a reality in today’s competitive business environment with states competing with each other for …

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