Development tax incentives, grants could be taxed, but shouldn't dissuade Amazon HQ2 bids, attorney says
Businesses who take advantage of government financial incentives to expand or build new facilities could face new tax liability under important IRS document issued 10 years ago, but just now coming into its own. However, that should not have much of an impact on the push by Chicago and other U.S. cities and states to land Amazon's HQ2, according to a leading tax expert, attorney and former director of South Carolina's Revenue Department.
Contract: Edelson to get 20 percent of Cook Co's take from suit vs Facebook; Facebook requests pause
Facebook has asked a Chicago federal judge to place on hold a lawsuit brought by Cook County and its trial lawyers, who stand to claim 20 percent of whatever the county may receive from the legal action over accusations the social media company improperly allowed data firm Cambridge Analytica to harvest information on about 50 million Facebook users to aid the 2016 election campaign of President Donald Trump.
Appeals court: Comptroller can't embargo over $1M from cash-strapped Harvey at pension fund's request
A state appeals court has, for now, ordered Illinois’ state comptroller to release its hold on more than $1 million in Illinois tax disbursements the financially troubled city of Harvey says it needs to meet its payroll, including paychecks for its police and firefighters, but which the state says it is required to seize and steer to retired Harvey municipal workers.