Monthly Archives: January 2018

ILN Today Post

CSRF: Amounts received for constitution on onerous usufruct of shares are taxed

The Superior Chamber of Tax Appeals recently confirmed an understanding of the 3rd Ordinary Class of the 1st Chamber of the 1st Judgment Section, which, by a vote of quality, determined that the value received for the grant of usufruct onerous and temporary usufruct should be taxed by the IRPJ.

For judges, the amounts received as temporary grant of usufruct of shares must receive the same tax treatment of a lease, and should be understood as taxable operating income.

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CSRF: Refunds on car rentals subject to social security contributions

The Superior Chamber of Tax Appeals analyzed a case involving the leasing of vehicles, by employees of a certain company in the logistics sector, with subsequent reimbursement, under the perspective of social contributions. The 2nd Ordinary Panel of the 4th Chamber of the 2nd Judgment Section had annulled the Notice of Infringement, on the understanding that the lease was necessary for the rendering of the services, but the National Treasury filed a special appeal, which was deemed appropriate.

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Superior Chamber of Tax Appeals has been ruling on stock options favorably to the treasury

To date, only two decisions have been formalized by the Superior Chamber of Tax Appeals on the incidence of social security contributions and withholding income tax on gains earned by individuals as a result of Stock Options programs. The most recently published decision was issued in a generic way, so that an inattentive reading could lead to the conclusion that CARF’s understanding is that any payments made to employees under the heading of Stock Options would be characterized as compensation. In fact, the determination of the nature of the Plan depends on the form of its structure and conditions.

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McDonald Hopkins Women’s Council 2017 Year in Review

McDonald Hopkins Women’s Council has a lot planned for 2018. But, before we get too far into the new year and all the exciting events and initiatives ahead, it’s important to look back at all we’ve accomplished.

2017 was a year of growth and change for our Women’s Council. Reinvigorated with new leadership, we focused on cultivating and supporting the strong female leaders at our firm and in our communities. In this report, we’re taking a look at the impact our female attorneys had in 2017 at McDonald Hopkins and beyond.

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Texas: Governor remains committed to pursuing property tax reform

Gov. Greg Abbott made the rounds last week pushing his property tax ideas that establish a revenue growth cap of 2.5 percent per year. This is a continuation of the plan he delivered at last year’s state-of-the-state speech that we described last February, when he said that he wanted to reform the property tax system by imposing a “real revenue cap,” and preventing cities from raising property taxes without voter approval.

To this end, lawmakers considered the Texas Property Tax Reform and Relief Act of 2017, but they did not ultimately enact the measure.

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South Carolina: Governor presents new budget, emphasizes income tax cut plan

Earlier this month, Gov. Henry McMaster unveiled his 2018-19 executive budget. In his announcement, he touted the plan as “a balanced budget that prioritizes taxpayer savings in the form of an income tax cut that, in its first five years of implementation, will result in $2.2 billion of taxpayer savings. All while investing in important areas of need such as public safety, workforce readiness, K-12 education, and access to healthcare.”

Recurring items in the general fund of about $8 billion are these:

  • $ 270.5 million: Revenue growth for fiscal year 2018-19 less General Revenue Fund (GRF), Capital Reserve Fund (CRF) & Tax Relief Trust Fund
  • $ 117.4 million: Excess debt service

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Vermont: First-of-its kind legislation would regulate and tax blockchain, cryptocurrency, and financial technology

Last week, we addressed states’ ongoing interest in legalizing marijuana despite steps that Attorney General Jeff Sessions has taken to prosecute it at the federal level. Vermont is set to be the next state to legalize recreational weed, but the first to do so via legislation, making it a bit of a trailblazer. The tiny jurisdiction is showing its stripes in a different context this week, by considering legislation that would tax blockchain, cryptocurrency, and financial technology.

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The Lid is off: Marital Rape in the Commonwealth of The Bahamas

Marital Rape is defined as the act of “sexual intercourse” with one’s spouse without the spouse’s consent. Generally speaking it is viewed as a form of domestic violence and /or abuse. In the Bahamas there is no law which criminalizes non consensual sexual intercourse between married persons. Single women and men thus enjoy a legislative protection which is not enjoyed by married women or for that matter married men. Outside the boundaries of recognized permissible grounds for making a complaint against a spouse for non sexual violence (e.g. Batteries and Assaults) the Law provides no such protection, in the Matrimonial Union, for non consensual sexual intercourse. Thus a woman is not competent to give evidence against her husband for an allegation of rape. Alternatively, she is competent for an allegation made of physical violence.

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DOL Updates Test for Unpaid Interns and Students Under the FLSA

On January 5, 2018, the U.S. Department of Labor (DOL) announced that it would no longer be using the six-factor test it had adhered to since 2010 to determine whether interns are employees — and consequently, entitled to minimum wage and overtime — under the Fair Labor Standards Act (FLSA). Instead, the DOL will now utilize the “primary beneficiary” test articulated by several U.S. Circuit Courts of Appeals (including those covering New York and California) to make such a determination.

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Howard & Howard expands Litigation Department

Chicago, Illinois, January 25, 2018: Howard & Howard Attorneys PLLC is pleased to announce that Michelle D. Champane has joined the firm. She will practice out of the firm’s Royal Oak office.

Michelle D. Champane focuses her practice on business, real estate, civil, and commercial litigation. She has additional experience in insurance defense litigation.

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