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
With the recent passage of HB 2755, Illinois will be offering two different amnesty programs within the next 16 months, pending approval by the governor. The first program will run from October 1 through November 15, 2025. This program is an extension of Illinois’ previous amnesty programs that ran in 2003, 2010 and 2019. The
Jones Walker SALT Partner Katie Quinn will present “Corporate Income Tax Apportionment Issues, Including Alternative Apportionment” on July 23, 2025 in New York. The Intermediate State and Local Taxation Conference presents in-depth analysis of complex problems state and local tax professionals regularly encounter and provides attendees with practical skills and strategies to manage these issues.
Join Jones Walker SALT Partners Jeff Birdsong, Katie Quinn, and Chris Lutz at the 49th Annual IPT Conference June 22-25, 2025 in Ft. Lauderdale, FL.
Monday, June 23
“Don’t Crumble When They Bundle – Bundling in the Age of Digital Taxation of Products & Services”, co-presented by Chris Lutz
Tuesday, June 24
“Let’s
We had a great time sponsoring the American Petroleum Institute’s 2025 Excise Tax Forum in Houston! This program offered meaningful insights on motor fuel tax issues, state sales and use, IRS updates, and audit discussions. Thank you for a wonderful program!
On May 23, 2025, Louisiana Governor Jeff Landry appointed Francis J. (Jay) Lobrano as the Local Tax Judge of the Louisiana Board of Tax Appeals to complete the term of outgoing Local Tax Judge, now Louisiana Supreme Court Justice Cade Cole.
Judge Lobrano has served as the Chairman of the Board since March of
We are proud to be an IPT Foundational Partner for 2025, supporting IPT’s mission to provide top-tier education and resources for state and local tax professionals. Our partnership underscores our commitment to industry excellence and professional development. Learn more about IPT and its programs at www.ipt.org. #IPT #TaxEducation #KnowMoreProMore