Tag Archives: gtlaw.com

South Dakota v. Wayfair: Supreme Court Holds No Physical Presence Required for Online Retailer to be Required to Collect Sales Tax

On June 21, 2018, the U.S. Supreme Court in South Dakota v. Wayfair, Inc., et al., decided (5-4 although not the usual liberal/conservative split) that an online retailer does not have to maintain a physical presence in a state in order to be required to collect the state’s sales and use tax. This opinion overturns … Continue Reading

Bill to Simplify State Tax Withholding on Mobile Workers Passes House

A bill that would simplify state income tax compliance for employers when they send employees on temporary assignment to another state passed the House on Sept. 21. Many state government interests oppose the bill, so its future in the Senate is uncertain. Employers face a major state tax compliance headache when they send an employee on … Continue Reading

Trusts Can Provide Benefits Even for the Most Financially Savvy

In planning for the next generation, many parents struggle with the decision of whether to transfer property to their children outright or in trust.  Some feel that transferring property outright is the best option when the beneficiary is competent (i.e., mature, intelligent, financially savvy, and capable of managing money and making investment decisions).  A beneficiary … Continue Reading

Portability of the Estate and Gift Tax Exclusion – How Does it Work?

Portability refers to the ability of a surviving spouse, to make use of a deceased spouse’s unused estate tax exclusion amount (DSUE amount).  Portability was intended to simplify estate planning for married couples by eliminating the need for a bypass trust.  However, in order to preserve the DSUE amount the surviving spouse must comply with … Continue Reading

Bill to Bar Air Excise Tax on Aircraft Management Fees Clears House Ways and Means Committee

A bill that would exempt aircraft management fees from the federal air transportation excise tax is advancing in the House — good news for aircraft owners who use a leasing company structure to save on state sales tax when purchasing aircraft. The bill (H.R. 3608) clarifies that fees paid to an aircraft services company to … Continue Reading

When a Fiduciary is Personally Liable for Unpaid Taxes

Although many people name family and friends as trustees or personal representatives in their legacy plan, it’s probably safe to assume that the people being appointed don’t have an understanding of the high level of responsibility inherent in carrying out their fiduciary duties.  One of the greatest fiduciary responsibilities is payment of a trust’s or … Continue Reading

Thinking of Expatriating? You May Be Leaving More Behind Than You Expected

U.S. citizens and long-term permanent residents who are considering relinquishing their U.S. citizenship or long-term permanent residency in the U.S. have more than just the exit tax imposed under Code § 877A to consider – they must also consider the impact the expatriation will have on their U.S. family members and other intended U.S. beneficiaries.  … Continue Reading

Greenberg Traurig Attends Washington Women’s Leadership Initiative (WWLI) Leadership Series

Greenberg Traurig Attorneys, Nataliya Dominguez, Rebecca Manicone, and Ashley Sawyer attended the recent WWLI.org and W@CEB Authentic Leadership series at the CEB Headquarters in Arlington, VA.  The WWLI invited Anne-Marie Slaughter, President and CEO of New America and the first woman to serve as director of policy planning at the U.S. State Department, as the … Continue Reading

Greenberg Traurig Webinar – What’s Trending?

Greenberg Traurig Tax & Business Group attorneys, Jonathan Forster and Todd Steinberg, hosted a webinar on important recent developments in the estate planning marketplace.  Forster and Steinberg reviewed the latest on the Morrissette case (the very first reported generational split dollar tax court case), the settlement of Woelbing (the latest seminal case involving installment sales to grantor trusts), … Continue Reading

Greenberg Traurig Presents At The AALU Annual Meeting During The Washington Report Marketplace LIVE! Session

Greenberg Traurig attorneys Jonathan Forster, Rebecca Manicone, and Richard Sirus presented today at the Association of Advanced Life Underwriting (AALU) Annual Meeting in Washington D.C.  Roughly 900 members and guests attended this session to listen to Forster, Manicone, and Sirus provide a review of hot estate planning and employee benefits topics from popular WRMarketplace reports.  … Continue Reading

Greenberg Traurig Webinar – 2016 Heckerling Institute on Estate Planning: Key Take-Aways

Greenberg Traurig Tax & Business Group attorneys Jonathan Forster and Todd Steinberg, along with AALU Director of Public Policy, David Hollingsworth, hosted the 2016 Heckerling Institute on Estate Planning webinar.  Hollingsworth provided the political and legislative update and discussed the challenges facing the insurance industry. Forster discussed what is trending  in the marketplace, including rising interest … Continue Reading

Greenberg Traurig Sponsors the 26th Annual MusiCares Event

Greenberg Traurig recently sponsored the 2016 MusiCares Person of the Year honoring Lionel Richie. The MusiCares Foundation, Inc. provides assistance to musicians in time of financial, personal or medical crisis.  This year, MusiCares honored Lionel Richie for his significant creative accomplishments as well as his charitable work. More than 2,000 guests, including legendary recording artists … Continue Reading

IRS Says Aircraft Leasing Entity is Eligible for 1031 Tax Free Exchange Treatment Despite Leasing to Related Companies at No Profit

We previously wrote about how a recently passed Texas bill (S.B. 1396) will allow certain in-state aircraft purchases to qualify for a resale exemption from sales tax, with the tax instead applied to later leasing contract payments. Now, a new IRS Chief Counsel memo says that an aircraft leasing partnership that trades in an aircraft that … Continue Reading

Rudolph W. Giuliani Joins Greenberg Traurig in New York

Greenberg Traurig is excited to welcome former New York City Mayor Rudolph W. Giulani to the Greenberg Traurig family as Global Chair of the firm’s Cybersecurity and Crisis Management Practice and Senior Advisor to the firm’s Executive Chairman Richard A. Rosenbaum. Also joining the firm is former supervisory federal prosecutor Marc L. Mukasey who will … Continue Reading

Greenberg Traurig Ranks No. 1 on Law360’s “The 10 Most Charitable Law Firms”

Law360 conducted a survey to identify the 10 law firms that made the largest charitable donations in 2014.  Greenberg Traurig ranked No. 1 with over 7 million dollars in charitable donations.  Greenberg Traurig attorneys from across the firm regularly help the neediest on matters as wide-reaching as human rights and economic development, and as personal … Continue Reading

Incentive Trusts Can Be Used to Provide Guidance to Your Trustee and Incentivize Beneficiaries

Leona Helmsley infamously left $12 million in trust to her dog while completely cutting out two of her four grandchildren from her fortune. The two grandchildren who received bequests could only receive their payouts if they visited their father’s grave at least once a year, which they had to prove by signing a register kept … Continue Reading
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