NJ Appellate Court Affirms Decision Denying Interest Expense Addback Exception

The New Jersey Superior Court, Appellate Division, has affirmed the Tax Court’s decision in Kraft Foods Global Inc., in which a taxpayer’s deduction for related-party interest expense was disallowed for corporation business tax purposes (decision available here). Background The only issue before the court was whether the Division of Taxation (the “Division”) properly added back

Rail Park Redux

The first phase of Philadelphia’s version of The Highline opened on June 14. Located between Broad and Noble Streets on the one hand, and 11th and Callowhill Streets on the other, The Philadelphia Rail Park has added a slice of green to a formerly industrialized, warehouse district just north of Chinatown. The Park has been

SEC Ratchets Up Enforcement Against Attorneys in Microcap Space

Introduction Earlier this year, SEC Chairman Jay Clayton fired a warning shot across the bow of practicing securities attorneys: “act responsibly and hold [yourselves] to high standards.” Chairman Clayton specifically called out members of the securities bar advising clients on initial coin offerings (ICOs) that were not being registered with the SEC under the federal