California is one of the most recent states to consider legislation adopting mandatory worldwide combined reporting. The ability of a state to mandate worldwide combined reporting is a hotly debated topic, with states frequently asserting that they are losing out on tax revenue due to the lack of ability to force companies to file on
The Florida Legislature is moving forward with two pieces of legislation designed to clarify retail operations in a future society devoid of physical pennies. Following a directive from President Trump, the final minting of the 1-cent coin by the U.S. Mint occurred in June 2025. The final inventory of newly produced pennies was shipped to Federal Reserve
In February 2025, Governor Ron DeSantis publicly announced his desire that the state consider amending its Constitution, initially, to abolish property taxes. Florida’s property tax system funds local counties, cities, school districts, and numerous special taxing districts providing services such as water management, fire protection, and mosquito control. Florida’s property tax framework is established in the
Alysse McLoughlin, a partner on the state and local tax team in the New York office, was quoted in the Bloomberg Tax article “Massachusetts Targets Offshore Corporate Gains After GOP Tax Law”. In the article, Alysse discusses the potential constitutional challenges states could face when expanding taxation of foreign corporate income, noting that
Minnesota has quietly rewritten the rules — without ever publicly vetting the changes in the House or Senate tax committees. Language that undermines the taxpayer-friendly Dakota Drug win at the Minnesota Supreme Court was never publicly vetted in the tax committees.
That decision had shielded wholesalers from MinnesotaCare Tax on rebate amounts, recognizing those dollars
In response to the LAA’s proposals, a handful of industry groups and individual taxpayers filed rebuttals objecting to the LAA’s proposals. The filed rebuttals can be found here. A hearing on the rebuttals is scheduled for August 20th. The Commission has set September 24th as a tentative adoption date for all proposed amendments to their
Louisiana Governor Jeff Landry recently signed into law Act 44, which aims to revitalize Louisiana’s film industry after years of hardship.
Act 44 revamps Louisiana’s film tax credit program by allowing filmmakers to access up to 40% in refundable tax credits with bonuses for hiring locals, using Louisiana-based scripts, and performing visual effects locally.
Among the changes in the One, Big, Beautiful Bill Act (OBBBA) was the renaming of Global Intangible Low-Taxed Income (GILTI) to Net CFC Tested Income (NCTI). But the renaming is not the end of the story. The OBBBA also permanently decreases the now-NCTI deduction from 50% to 40% beginning in 2026. (Under the Tax Cuts
Originally published in Bloomberg Tax
Author: French Brown, Partner, Jones Walker LLP
July 2, 2025
Jones Walker’s French Brown says a permanent sales tax holiday and repeals of an aviation fuel tax and commercial lease sales tax will help ease compliance, provide businesses with cost savings, and give consumers predictability.
Florida’s tax relief package, part
On Monday, June 16th, the Florida Legislature is scheduled to vote on the final budget and annual tax proposal, bringing an end to the extended 2025 Regular Session. An amendment to House Bill 7031 has been filed containing the details of the tax relief plan.
The cornerstone of this legislation is the complete elimination of