VERIS, LLP NEWS AND ALERTS

COURTS TO PREEMPT CARBON TAX DEBATE ?

The Second Circuit Court of Appeals revived a lawsuit brought by several states and environmental groups against coal-burning power plants for the alleged harm that their carbon emissions inflict on the environment.  Absent intervention by the Supreme Court or preemption by Congress, it appears that a court may be allowed to determine whether carbon emissions are a public nuisance, and therefore whether businesses that emit carbons have to pay damages (or a de facto carbon tax) to states or others affected.
We’re curious to see the evidence (and the number of interested parties) on both sides. You can find the full opinion here.

CA EMPLOYERS: THE STATE IS REQUIRING YOUR HELP

As of November 1, 2009, employers in California will be using a new state income tax withholding table thanks to ABX4-17.  This law increases  the amount of income taxes withheld by 10% based on existing claimed exemptions. This law also increases the rate of withholdings for supplemental wages, such as exercised stock options and bonuses. As of January 1, 2010, you can also thank ABX4-18X for the imposition of a 7% backup withholding for certain payments to non-employees, such as independent contractors, where otherwise required under the Internal Revenue Code.