Jaye Calhoun

Louisiana voters’ rejection of a constitutional amendment that would have brought sweeping changes to the state’s tax laws will have a decidedly mixed effect on businesses that may prompt state lawmakers to act when they meet this week. Taxpayers likely will benefit from voters rejecting changes that would have increased the number of legislators required to vote for taxpayer-favorable provisions, such as new or increased (non-property tax) exemptions, exclusions, deductions, credits, or rebates.

The transfer at issue in Marathon Petroleum v. Cook County wasn’t a classic “buy now, pay later” type of transaction, but Cook County, Ill., is trying to tax it like it is. The Illinois Supreme Court is considering whether to reverse the state appellate court’s unfortunate decision in the case, holding that certain “book-out transactions” involving fuel, which can’t reasonably be characterized as transactions subject to Cook County’s fuel tax are, in fact, taxable transfers of fuel.