On December 2, 2010, the Supreme Court of Canada dismissed leave to appeal from the Federal Court of Appeal's decision in Standing Buffalo Dakota First Nation v. Enbridge Pipelines Inc., 2009 FCA 308. Lawson Lundell acted for the Respondent, the Canadian Association of Petroleum Producers (CAPP), and took an active role in successfully defending the appeal proceedings.Standing Buffalo Dakota First Nation v. Enbridge Pipelines Inc ...
On Friday December 17, 2010, the President signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the “Act”). Many taxpayers were keeping an eye on this legislation because of the possible impact it might have on year-end tax planning. Specifically, taxpayers were keen to find out if certain favorable tax laws would be extended. Many of the tax laws that were scheduled to sunset were extended for an additional two years ...
This paper discusses electricity sector developments in Alberta and British Columbia that continue to break new ground particularly in view of the recent prominence of renewable energy, greenhouse gas (GHG) emissions issues and export market development initiatives for the export of electricity from clean or renewable sources.To read this paper, click here ...
In line with the national long term program to improve the mining and energy sectors to support the development of the country, as well as to ensure that the supply of energy and mineral resources to the domestic market can be met, the Government of Indonesia has been working hard to expedite the process to issue new regulations in the mining and energy sectors ...
In a move that indicates significant regulatory changes may be coming to deepwater operations, federal authorities are eyeing new rules curtailing venting of natural gas in the Gulf of Mexico ...
By Vitas Vasiliauskas, Associate Partner of the law firm LAWIN Lideika, Petrauskas, Valiûnas ir partneriai In December 2010, the most important legislative acts on taxation to be enacted in 2011 were publicised ...
Marriage has become as globalized as business today. If one spouse is a non-citizen, there are some minor challenges in drafting estate planning documents to minimize United States estate taxes, and we recommend consulting with counsel in the non-citizen’s home country. If the non-citizen’s family has substantial wealth, there are opportunities to reduce, or even eliminate, U.S. estate and gift tax on transfers to that individual ...
In prior years, certain tax-exempt organizations whose gross receipts did not normally exceed $25,000 were exempt from filing the standard Form 990. Now, this threshold is $50,000, and for tax years beginning on or after January 1, 2010, such organizations must submit a Form 990-N “e-Postcard” annually (rather than the Form 990-EZ or Form 990 required of larger organizations). Private foundations and supporting organizations may not file the Form 990-N ...
The 2011 Session of the West Virginia Legislature promises to be one of the most interesting in the state's history. The passing of U.S. Senator Robert C. Byrd in 2010 has led to a series of corresponding leadership changes in West Virginia's state and federal delegations. Further, perceived incongruities between state succession laws and West Virginia's Constitution have led interested parties to seek input and clarification from the West Virginia Supreme Court of Appeals ...
In the 2011 legislative session, Pennsylvania's new Republican governor, Tom Corbett, and its largely Republican legislature are likely to pick up where the last session left off with regard to Marcellus Shale issues ...
The last minute compromise which averted the expiration of the Bush tax cuts included a two-year modification of the estate, gift, and generation-skipping taxes. For 2011 and 2012, every individual will have a $5 million gift tax exemption. For individuals dying in 2011 or 2012, the estate tax exemption is also $5 million, and the generation-skipping transfer (“GST”) tax exemption for transfers during life or at death is $5 million ...
On February 8, 2011, the IRS announced a second voluntary disclosure program that will allow U.S. taxpayers to disclose offshore accounts that were previously kept secret from the IRS. U.S. citizens and resident foreign nationals are required to pay U.S. federal income tax on their worldwide income. The objective of this initiative is to bring taxpayers that have used undisclosed foreign accounts to avoid or evade taxes into compliance with United States tax laws ...
Effective September 1, 2010, the Texas Railroad Commission issued new regulations for oil and gas operators related to inactive onshore wells and associated equipment pursuant to House Bill 22591 which dramatically changed requirements for extension of plugging obligations for inactive wells. Certain aspects of the regulations and the original law currently are under review, and amendments to HB 2259 are expected to be introduced in the current legislative session ...
A overview of natural Gas Sector and a brief outline of Nigeria’s natural gas sector, including a general description of: natural gas reserves; natural gas production including the extent to which production is associated or non-associated natural gas; import and export of natural gas, including liquefied natural gas (LNG) liquefaction and export facilities, and/or receiving and re-gasification facilities (“LNG facilities”); natural gas pipeline
by Ronald W. SchulerAccording to insiders, with regard to a Pennsylvania severance tax, Governor Corbett will be holding firm on “no state tax, no local fee,” although it is likely that the legislature will nevertheless offer up a “local impact assessment” bill ...
by Andrew B. McCallisterAs the West Virginia Legislature passes the midway point of the 2011 Regular Session, oil and gas issues remain hot topics with several bills having the potential to directly impact Marcellus Shale operators. Perhaps most significantly are two bills (SB 258/HB2878 and SB 424/HB 3042) that would substantially alter the current regulatory regime for Marcellus Shale permitting in West Virginia ...
by Allyn G. TurnerOn February 8, 2011, the EPA sent a draft copy of its plan for studying the impact of hydraulic fracturing on drinking water to the Science Advisory Board for review and comment. As proposed, EPA’s plan would involve a “cradle to the grave” study of the practice, from the impacts of the withdrawals of water used to fracture a well to the ultimate disposal of the frac water flowback ...
Pooling. This word is on the lips of almost every operator working in the Marcellus Shale. Depending on where you stand on the issue, pooling is either a necessity to allow for the efficient recovery of the resource or a dastardly scheme meant to allow big operators to run roughshod over small operators and small mineral owners ...
Recently, the Exempt Organizations Office (“EO”) of the IRS released a list of 2011 initiatives, including international activities and compliance. The following are just a few of the items on the IRS’s radar for the coming year. Employment Tax Examinations. In 2011, the EO plans to conduct full examinations of 500 exempt organizations to determine compliance with employment tax rules as part of a project reviewing employment tax practices of both taxable and tax-exempt organizations ...
The Québec mining industry is currently at the forefront of discussion, particularly in light of:* the publication of a study on the mineral industry cluster’s contribution to socio‑economic development in Québec, which occurred during the Mining Week (April 26th to May 2nd) organized by, among others, the Québec Mining Association and the Québec Mineral Exploration Association; a copy of this study is available on their website;(1)* the Fraser Institute A
These days many US businesses are looking north to Canada for new markets. This paper discusses when a US business needs to worry about the Canadian tax system. The short answer comes from some of the oldest provisions in the Income Tax Act. US businesses need to worry about Canadian tax when they have a physical presence in Canada. To read this paper, click here. For more information please contact Len Glass at [email protected] or 604.631.9140 ...
* The New Act Respecting the Legal Publicity of Enterprises and Trusts * New Filing Requirements for Partnerships * Requests for Production of Documents by the Tax Authorities * Your’re Fired!: The Impact on the Exercise of Stock Options THE NEW ACT RESPECTING THE LEGAL PUBLICITY OF ENTERPRISES AND TRUSTS André Paquette apaquette@lavery ...
For the third year in row, Václav Rovenský and Ján Béreš prepared an up-to-date overview of Czech legal regulations in the electricity sector for the worldwide publication Getting the Deal Through – Electricity Regulation 2011. The overview summarizes the current regulations of the electricity business in the Czech Republic and focuses inter alia on topics relating to the determination of electricity prices in the Czech Republic ...
