When It Sounds Too Good To Be True, It Usually Is
Client Alert | less than 1 min read | 02.14.06
Many of us were surprised in 2000 when the Court of Federal Claims found that state income taxes paid by the individual owner of a Subchapter S corporation were allowable state income costs of the corporation on contracts performed by the corporation. It comes as no surprise that the Court of Appeals for the Federal Circuit has reversed in Information Systems & Networks Corp. v. U.S. (Feb. 6, 2006), holding that, when state law follows federal law and imposes income taxes on the owners of Subchapter S corporations but not on the corporations themselves, the corporations are exempt from taxation and the tax paid by the individual owner is not an allowable cost of the corporation.
Insights
Client Alert | 3 min read | 02.11.26
On July 8, 2025, the U.S. Court of Appeals for the Eighth Circuit vacated the Federal Trade Commission’s (FTC) Rule Concerning Subscriptions and Other Negative Option Plans, commonly known as the “Click-to-Cancel” rule. As detailed in a previous client alert, the rule was intended to regulate negative option plans[1]— such as subscriptions and automatic renewals — by imposing stringent requirements on businesses, including streamlined cancellation processes and enhanced disclosure obligations. The Eighth Circuit vacated the Click-to-Cancel rule because it found that the FTC had failed to comply with mandatory procedural requirements. As a result, the rule is no longer in effect, and businesses are not currently subject to its mandates.
Client Alert | 4 min read | 02.11.26
Consolidated Appropriations Act Introduces Sweeping Reforms for Pharmacy Benefit Managers
Client Alert | 3 min read | 02.10.26
UK FCA Proposes New Sustainability Disclosure Rules for Listed Companies
Client Alert | 3 min read | 02.09.26
