SALT & Pepper

  • Illinois Appellate Court Issues Decision on Temporary Storage Exemption

    On June 28, 2017, the Illinois Appellate Court in Shared Imaging, LLC v. Hamer, 2017 IL App (1st) 152817, P1 (Ill. App. Ct. 1st Dist. June 28, 2017) reversed the Circuit Court’s decision and held that Shared Imaging, LLC (the “Taxpayer”) is entitled to a depreciation deduction on the selling price of units of equipment that occurred prior to their return to Illinois, a credit for taxes paid to other states for the periods before the units were returned to Illinois, and abatement of penalties on those units of equipment that were acquired outside of Illinois but returned to Illinois after the initial storage.
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  • The Cubs Won the World Series and Illinois Finally Has a Budget!

    Today marks the first time in over two years that Illinois will be operating under a budget. This is a result after the House voted to override Governor Rauner’s veto of Senate Bill 9. The House garnered the necessary votes to end the two year stalemate full of political puffery and sparring. Some of the relevant changes that Illinois’ taxpayers should be aware of are noted below. All changes are effective July 1, 2017, unless otherwise noted.
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  • U.S. Supreme Court Clarifies Service by Mail on Foreign Parties - International Asset Recovery

    On May 22, 2017, in Water Splash Inc. v. Menon, The United States Supreme Court addressed the issue whether under the Hague Service Convention service by mail was prohibited. At issue was Article 10 of the Convention that provided if the country of destination does not object, the Convention shall not interfere with “(a) the freedom to send judicial documents, by postal channels, directly to persons abroad.” Article 10 does not expressly refer to “service.” The question before the Court was whether the Article 10(a) phrase “send judicial documents” encompasses sending documents for purposes of service.
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About HMB Law

Welcome to HMB's SALT & Pepper blog. As the title suggests, this blog tracks important and emerging issues, trends and developments that affect our clients not only in State and Local Tax (SALT) but also in other disciplines and industries. This blog is designed to be a helpful resource. We hope our readers will find it practical, insightful and valuable.

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