SALT & Pepper

  • Myths and Considerations Regarding Market Based Sourcing

    This is the myth that states are touting these days: market based sourcing is more easily administered and it levels the playing field between in-state and out-of-state businesses. A flood of states are jumping on the bandwagon. In the past week alone, the Tennessee and New Mexico legislatures have proposed market based sourcing bills. Last month, the District of Columbia announced that it will soon be publishing proposed market based sourcing regulations pursuant to legislation that switches DC to market based sourcing as of January 1, 2015, and Massachusetts adopted its market based sourcing regulations...
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  • Account Holders Lack of Contacts Fails to Subject Cayman Bank to Personal Jurisdiction in Texas

    A foreign bank must have more continuous and systematic contacts with the US and have purposely demonstrated an intent to do business in the US to be subject to a US court’s jurisdiction.
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  • January 2015 State Tax Credit and Incentive Update

    This is the first in a monthly series outlining updates in state tax credits and incentives, including but not limited to legislative, gubernatorial and case law updates as well as recent announcements of credit/incentives packages. While we recognize that tax credits and incentives are often frowned upon by tax policy experts, they are seen as necessary by state and local governments. Why? The reason is simple -- state and local governments are focused on creating jobs and encouraging investment within their borders, and they must compete with surrounding states for those jobs and investment, most of which also offer tax credits and incentives. The good news for both corporate taxpayers and non-profit entities is that state tax credits and incentives are available and can benefit a business in many ways.
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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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