Four States File Lawsuit to Nullify New Limit on SALT Deduction

  |  August 16, 2018

As part of the Tax Cuts and Jobs Act (the Act), the limitation imposed on the state and local tax (SALT) deduction as part of the Tax Cuts and Jobs Act (TCJA) has wreaked havoc in many states. In fact, four states – Connecticut, New Jersey, New York and Maryland – have determined that the limitation is unconstitutional. On July 17, they filed a lawsuit in federal court that seeks to make the law unenforceable. Read more. Read More

Capital Conversations (Summer 2018) – So … What’s a Blockchain?

  |  August 6, 2018

Curious about blockchain? Like bitcoin, it’s a new digital technology term you may have heard bandied about recently. You may have even heard it described as a secure method for people and organizations to transact business with each other without requiring a trusted, central institution to verify the information. With a blockchain, there is no central authority, like a bank, involved in the transaction. What does that mean? Read more. Read More

How Deal Insurance Improves M&A Transaction Execution

  |  August 2, 2018

The use of representations and warranties (R&W) insurance in mergers and acquisitions has grown significantly over the past several years and has become an increasingly integral component of the transaction process. This article focuses on how buyers and sellers use R&W insurance for both strategic and risk management purposes to improve deal execution by accelerating the parties’ ability to reach agreement, thereby expediting the close of a transaction. Read more. Read More

Wayfair Decision Will Have Wide Ranging Implications for Companies Doing Business in Multiple States

  |  July 10, 2018

In a 5-4 ruling on June 21, 2018, the U.S. Supreme Court overturned a 1992 precedent that barred states from requiring an out-of-state seller with no physical presence to collect sales tax on a sale to a resident of the state. Now, states stand to collect potentially billions of dollars in sales taxes from remote sellers who meet certain minimum standards. The Court remanded the case to South Dakota’s Supreme Court for a finding of whether other issues may block the tax. However, it is unlikely that any issues will surface.

In overturning Quill Corp. v. North Dakota and National Bellas Hess, Inc. v. Department of Revenue of Ill., the Court acknowledged that brick-and-mortar stores have been at a competitive disadvantage to out-of-state sellers. And as technology has become more involved in commerce year after year, it has created incentive for states to challenge the physical presence nexus rule. Read more. Read More

IRS Subgroup Recommends that IRS Treat Indian Tribal Governments Like States

  |  July 5, 2018

In recommendations released on June 7, 2018, The Indian Tribal Government (ITG) subgroup of the IRS Advisory Committee on Tax Exempt and Government Entities (ACT)* issued support for an amendment affecting Internal Revenue Code (IRC) Section 6103.  The change would allow the IRS and Tribal Governments to enter into taxpayer information sharing agreements in the same way as the IRS does with federal, state, and municipal governments. Read more. Read More

Planning Matters (June 2018) – A Deeper Dive into Our Map of Financial Advice, Planning and Wealth Management

  |  June 29, 2018

This month, we are focusing our attention on the Retirement Planning section of REDW Stanley's Universe of Financial Advice, Planning and Wealth Management map. We’re starting here because most of the planning advice we are asked to provide centers on retirement-related issues. Whether you are near or far from the subject, most people have long range goals that revolve around retirement. Read more. Read More

Financial Advisors No Longer Compelled to Use the Department of Labor’s Fiduciary Rule

  |  June 28, 2018

A rule requiring financial advisors to act in their clients’ best interests with regard to retirement accounts has been ended by a U.S. court. The “fiduciary advice rule” made investment advice standards for retirement savings tougher, requiring investment professionals to put clients’ interests ahead of their own with regard to retirement accounts. Read more. Read More

Tribal Leaders, Your Feedback is Critical on Proposed Department of Interior Reorganization

  |  June 21, 2018

On March 13, 2017, President Trump signed Executive Order 13781, calling on Federal agencies to examine ways they could reorganize to improve efficiency, effectiveness, and accountability. In response, Secretary of Interior Ryan Zinke announced his vision to divide the United States into 13 regions and centralize authority for different parts of Interior within those boundaries. The regions would be defined by watersheds and geographic basins, rather than individual states and the current boundaries that now guide Interior’s operations.

The Bureau of Indian Affairs (BIA) regions and functions will be included in this potential reorganization. Read more. Read More

South Dakota Wins in Supreme Court Decision on South Dakota v. Wayfair

  |  June 21, 2018

The U.S. Supreme Court today handed down a decision on the highly anticipated South Dakota v. Wayfair case, which challenged South Dakota’s collection of sales tax from out-of-state businesses that do not have physical presence in the state but that sell and deliver into South Dakota tangible personal property, products transferred electronically, or services.

South Dakota passed a law in 2016 that set off a dramatic and market-altering shift in taxation of online sales, one that concluded with today’s Supreme Court’s 5-4 decision... read more. Read More

Tribal Retirement Plans: A Free Webinar Series

  |  June 19, 2018

Congratulations! You are now in charge of your tribal organization’s retirement plan. Of course, you want to do the right things to run your plan, but you may need guidance to determine what the right things are.

Please join us for three upcoming webinars that we’ve designed to cover the day-to-day operation of tribal retirement plans. You’ll learn about the many issues that plan providers encounter – and more importantly, how to tackle them. Read more. Read More