SALT & Pepper
Obtaining Jurisdiction Over a Foreign Corporation for Section 1782 Discovery is Becoming Extremely Difficult
January 07, 2019
Authored by: Eric (Rick) Rein
In:
International Asset RecoveryPursuant to 28 U.S.C. Section 1782, a party may apply to conduct discovery in the U.S. for use in foreign proceedings. In a recent decision from the U.S. District Court for the Southern District of New York, In re Ruiz, 2018 U.S. Dist. Lexis 180262, the court considered whether former investors in Banco Popular could conduct discovery against Banco Santander in New York for use in foreign proceedings before the General Court of Justice of the European Union. Banco Santander is incorporated and has its principal place of business outside of New York.
Read MoreCook County Taxes: Parking Lot and Garage Operations Tax
December 11, 2018
Authored by: David Machemer
The “Parking Lot Tax” has recently been targeted by the Cook County Department of Revenue. In the past 3-5 years, we have seen a significant uptick in the Department’s audit activity, and challenges to Taxpayer positions. Their efforts have primarily focused on the enforcement of its Amusement, Tobacco, and Gasoline and Diesel Taxes. However, more recently, the Department has turned its attention to its Parking Lot Tax.
Read MoreIllinois Corporate Income Tax- Apportioning Insurance Company Income
November 27, 2018
Authored by: Christopher Lutz
In:
State & Local Tax (SALT)In a previous post, we addressed the basics of Illinois corporate income tax apportionment. We also addressed how while most corporations are required to follow the standard statutory formula, the state imposes unique rules on a number of industries, including financial organizations. In addition to financial organization, insurance companies must also apportion their income to Illinois according to special rules. As with financial organizations, beginning with the tax year ending December 31, 2017, insurance companies must be included in the combined return with the entire unitary business group.
Read More
