Practice Area Blogs & Digests

Last week, we reviewed the basics about captive insurance companies, nonadmitted insurance and the essence of the federal legislation known as the NRRA. This week, we examine what the states did to implement NRRA and how that affected, or may affect, insurance premiums paid to out-of-state captives.

We are seeing increased focus by state tax departments on nonadmitted insurance premium reporting, tax payments owed and auditing of captive insurance companies. This article is Part I of our primer on the application of the nonadmitted premium tax rules to purchases of insurance from out-of-state captives.

Construction is one of the more unique and fascinating industries when it comes to state tax. When working with clients on either sales and use tax planning or controversy matters, the sales and use tax structure facing contractors frequently prompts a number of unanticipated challenges.

A taxpayer with substantial back taxes has a few options to deal with IRS pressure to get them paid, and while an installment agreement can be a good outcome in some cases, there are many pitfalls to avoid when entering into one.

A number of lessons may be learned from representing clients in the bankruptcy filings in the retail and restaurant industries.

Bankruptcy law is changing around the world, away from the liquidation model and toward the model of corporate rescue. Additionally, these changes reflect movement toward venue competition for the business of hosting international bankruptcy cases.

A recent case provides ten elements that courts and professionals may use to determine if vendors should receive critical vendor payments.

In the year since its enactment, more than 1,500 businesses and individuals have filed cases under the Small Business Reorganization Act.

If you just filed a property tax appeal for the January 2, 2020 (Pay 2021) tax year, you may have obligations to comply with what is commonly referred to as the “August 1 Rule.”

The story can apply directly to issues currently facing Minnesota taxpayers. Said directly, we will have “unpredictable elements” in life. And, while those elements can be insurmountable when surfacing on their own schedule, we can have a positive impact when exercising deliberate foresight.