Last week this author delved into what has become known as the “Texas Two-Step,” the arguments for and against its permissibility and the broader implications for the bankruptcy system. The discussion focused on an ongoing trial on motions filed in the bankruptcy case of LTL Management, LLC (“LTL” or the “Debtor”), a Johnson & Johnson (“J&J”) subsidiary, by the Official Committee of Talc Claimants and several other parties, seeking an order dismissing the Debtor’s case pursuant … Read the rest
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The Supreme Court on Monday allowed Alabama to implement a redistricting plan that is being challenged as illegal racial gerrymandering. A lower court ruled last month that the state’s new congressional map likely violates the Voting Rights Act, and it ordered the state to draw a new map. But the Supreme Court in a 5-4 decision put the lower court’s ruling on hold, effectively allowing Alabama to proceed with its preferred map as it prepares for primary elections in … Read the rest
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This week we highlight cert petitions that ask the Supreme Court to consider, among other things, whether a 2017 law’s cap of $ 10,000 for the deduction for state and local taxes on federal income returns violates the Constitution by coercing states’ tax policies, and whether state courts can exercise jurisdiction over out-of-state businesses on the basis of their registration as foreign corporations.
The 2017 cap on the federal tax deduction for state and local taxes
New York v. … Read the rest