Jordan M. Goodman Discusses Key Measures Passed by Illinois Lawmakers in “Key State Business Tax Legislation To Know From 2021” with Law36006/30/2021Read the full article by Law360 here (subscription required). In a year when states focused on shaking off the effects of the coronavirus crisis, some changed business tax regimes to build their coffers while others, flush with federal pandemic relief cash, advanced significant tax cuts. An Illinois budget bill signed into law by Gov. J.B. Pritzker pauses the phaseout of…
Client Success: Dunes Point Capital, LP Announces Hy-Tek’s Acquisition of BP Controls06/21/2021Hy-Tek Holdings ("Hy-Tek"), a portfolio company of Dunes Point Capital, LP ("DPC"), has acquired BP Controls Inc. and Nogol Electric LLC (collectively "BP Controls"). Located in Columbus, OH, Hy-Tek Holdings is a material handling automation integrator serving clients in diverse end markets and applications, including ecommerce, third party logistics and parcel. DPC was represented by HMB’s Private Equity Team. Tax Partner Kenneth…
Samantha K. Breslow Discusses Illinois Lawmakers Approving Budget with GILTI Addback with Law36006/02/2021In an article by Law360, Samantha K. Breslow discusses Illinois Lawmakers approving the budget with GILTI addback. Read the full article by Law360 here. Illinois would require an addback for certain global intangible low-taxed income deductions, halt a phaseout of its franchise tax and temporarily cap net operating loss deductions under a $42.3 billion fiscal year 2022 budget that lawmakers…
Aaron L. Hammer Featured in the March 2021 TMA Quarterly Newsletter03/29/2021Aaron L. Hammer was featured on the cover of Turnaround Management Association Chicago's Newsletter of Corporate Renewal celebrating its 30 year anniversary. The newsletter celebrates the TMA's focus on growing networks, identifying business opportunities, adding to its members' knowledge base, providing leadership and having fun with great people. As Aaron said, "TMA is -- and always will be -- family.…
Jordan M. Goodman Discusses Chicago’s Guidance and Economic Nexus Safe Harbor with State Tax Notes03/25/2021In this article by State Tax Notes, Jordan M. Goodman discusses Chicago's guidance and economic nexus safe harbor. Download the full article here. Speaking during the Virtual 2021 American Bar Association/Institute for Professionals in Taxation Advanced Sales and Use Tax Seminar on March 15, Jordan applauded the city for issuing the guidance. The city “actually did something that I have…
David A. Hughes Elected to the Chicago Tax Club Board of Directors03/02/2021HMB congratulates David A. Hughes on being elected to the Chicago Tax Club Board of Directors. David is a partner in HMB’s State and Local Tax (SALT) Group and is a member of HMB's Board of Directors. He helps clients limit their state and local tax exposure through sensible planning and, when necessary, vigorous litigation strategies. David advises Fortune 500…
Jordan M. Goodman Discusses the Tax Injunction Act and State Tax Issues Being Filed in Federal Court with Law36002/25/2021In this article by Law360, Jordan M. Goodman discusses the Tax Injunction Act and state tax issues being filed into federal court. Read the full article by Law360 here. The complaint by the U.S. Chamber of Commerce, Internet Association, NetChoice and Computer & Communications Industry Association, filed Feb. 18, had been widely expected, but it contained a procedural twist. It…
David A. Hughes Discusses IL Gov. Pritzker’s Pitch to Raise State Budget with Law36002/23/2021In this article by Law360, David A. Hughes discusses Illinois Gov. J.B. Pritzker's budget plan that would reverse several tax laws that the governor signed just two years ago, including a phaseout of the state's franchise tax. Read the full article by Law360 here (subscription required). Illinois' governor proposed temporarily capping net operating losses, reducing state deductions for global intangible…
HMB Represents Ashling Partners In Growth Capital Investment by Thomas H. Lee Partners02/18/2021Ashling Partners, LLC ("Ashling"), a professional services and technology firm, announced the closing of a growth capital investment by funds managed by Thomas H. Lee Partners ("THL"). Joshua Bresler, THL Managing Director, and Kearney Shanahan, THL Director, will join the Ashling board of directors as part of the transaction. “The investment and partnership with THL not only enables our global…
Aaron L. Hammer Discusses the Impact of COVID-19 on the Restaurant Industry and Successfully Navigating Restaurant Workouts with American Bankruptcy Institute’s (ABI) February 2021 Journal02/05/2021In this ABI Journal article, Aaron L. Hammer discusses the impact of COVID-19 on the restaurant industry and managing Red South Beach through the crisis. Download the full article here. (more…)…
Aaron L. Hammer Discusses Gencanna’s $1.2M Lawsuit Against Pillsbury Winthrop with Law36002/04/2021In this article by Law360, Aaron L. Hammer discusses GenCanna filing an adversary proceeding seeking $1.2 million back that the company paid to law firm, Pillsbury Winthrop Shaw Pittman LLP ("Pillsbury"). Read the full article by Law360 here (paid subscription required). (more…)…
David A. Hughes Discusses Chicago’s “Netflix Tax” with Bloomberg Law Tax01/25/2021In this article by Bloomberg Law Tax, David A. Hughes discusses Chicago's "Netflix Tax". Read the full article here. (more…)…
John W. Guzzardo Appointed to the Panel of Chapter 7 Trustees for the Northern District of Illinois12/11/2020HMB is proud to announce that John W. Guzzardo has been appointed by the United State Trustee of Region 11 to the Panel of Chapter 7 Trustees for the Northern District of Illinois, Eastern Division. John is Chair of HMB’s Litigation Group and a partner in HMB’s Bankruptcy, Reorganization and Creditors’ Rights practice. "Over the past eleven years of my…
Jordan M. Goodman Discusses Local Nexus Considerations with Law36011/23/2020Local jurisdictions should clarify the nexus standards for their taxes, Jordan M. Goodman said, noting that the Wayfair decision has raised questions of how nexus at the state level applies to local nexus considerations. For local taxes that have a state equivalent, states and localities should "link up" and inform taxpayers of whether nexus with the state means a taxpayer…
Richard M. Horwood, Rick S. Rein and Jeffrey A. Zaluda Named to Best Lawyers in America 2021 List09/08/2020Richard M. Horwood, Rick S. Rein and Jeffrey A. Zaluda were named to Best Lawyers in America 2021. Recognition by Best Lawyers is based entirely on peer review. Their methodology is designed to capture, as accurately as possible, the consensus opinion of leading lawyers about the professional abilities of their colleagues within the same geographical area and legal practice area.…
David A. Hughes Discusses Illinois Nonresident Workers and State Income Tax with Law36006/29/2020In an article by Daniel Tay and published by Law360, David A. Hughes discusses how Illinois nonresident employees have received a 30-day safe harbor against state income tax to carry out a 2019 law intended to prevent double taxation. Illinois' 30-day threshold is longer than the periods seen in other states David told Law360. He also noted that the Illinois…
Jordan M. Goodman Provides Insight on States Considering Gross Receipts Taxes in Order to Cope with Virus Impact to Bloomberg Law Tax04/27/2020An article published by Bloomberg Law Tax discusses the possible reemergence of Gross Receipts Taxes in states due to the COVID-19 pandemic. Gross receipts taxes are becoming attractive because they rely on calculations of total commercial activity rather than profitability, said Jordan M. Goodman. Jordan continued to say that, "During the COVID-19 recession you are going to see a lot…
Fred O. Marcus Nominated for the Northwestern University Pritzker School of Law’s Adjunct Professor of the Year Award04/21/2020Congratulations goes to Fred for his nomination for the Northwestern Pritzker School of Law's Adjunct Professor of the Year Award. Northwestern University is a member of the Top 14, a group of law schools that have received national recognition. Read more about Fred here. …
David A. Hughes Provides Insight on Illinois Supreme Court’s Refusal to Hear Streaming Tax Challenge To State Tax Notes03/27/2020An article published by State Tax Notes discusses the Illinois Supreme Court's refusal to review an appellate court decision that Chicago's amusement tax as applied to online streaming services does not violate the state constitution or the Internet Tax Freedom Act (ITFA). The court denied the petition for leave to appeal in Labell v. City of Chicago, letting stand the…
David A. Hughes discusses the Unveiling of Illinois’ 30-Day Income Tax with Law36001/13/2020Illinois seeks to establish a 30-day safe harbor against state income tax for nonresident employees under a recently proposed regulation that specifies how workers should calculate their number of days worked in the state. In an article by Law360, David Hughes explains how different this proposed rule is when compared to previous regulations, noting that previous regulations on taxing nonresident…
Samantha Breslow Discusses the Paradox of Chicago’s Approach to Nexus and the “Cloud Tax” with Bloomberg Tax01/03/2020Chicago's previously hidden tax ruling exempted Moxie Software Inc. from tax collection duties under the "Cloud Tax". In an article by Bloomberg Tax, Samantha Breslow explains the discrepancy between the Cloud Tax and Chicago's stance on nexus. Because the city didn't address the question of nexus in 2015 when modifications to its Personal Property Lease Transaction Tax were made, the…
Samantha Breslow discusses Chicago’s Previously Hidden Private Letter Rulings with Bloomberg Tax01/02/2020In an article published by Bloomberg Tax, Samantha Breslow delves into the challenges presented to taxpayers after Chicago's previously hidden Private Letter Rulings ("PLRs") come to light. "Historically, it has been very difficult to gain access to Chicago GILS ["General Information Letters"] or PLRs, which results in a lack of transparency for taxpayers trying to comply with city ordinances," said…
Samantha Breslow Discusses Chicago’s “Cloud Computing Tax” with Bloomberg Law News09/16/2019Auditors in Chicago have been aggressively asserting that businesses have tax duties under the "cloud computing tax" because of their economic presence, or the volume of business they conduct within the city. In an article by Bloomberg Law News titled "State of Wayfair: Economic Thresholds Sneak Into Chicago Audits" by Michael J. Bologna, Samantha Breslow explains that the problem is…
Samantha Breslow Discusses Chicago’s Tax on Cloud-Based Products09/10/2019At the beginning of 2016, Chicago implemented a unique method to tax businesses for their use of remote computing services, also known as the cloud. The Personal Property Lease Transaction Tax program collected $13.9 million during its first six months and rose to $42.2 million through 6/30/18. In an article by Bloomberg Law News, Samantha Breslow explained that Chicago is…
David Ruskin Joins Legal Face-Off on WGN Radio to Discuss Illinois’ New Cannabis Law08/02/2019Cannabis business attorney David Ruskin was interviewed by Chicago's top legal radio show, Legal Face-Off on WGN Radio. David discussed Illinois' new recreational marijuana law and what it means for individuals and businesses. Listen to the recording on WGN Radio.…