Wolters Kluwer Tax & Accounting US has released two new tax briefings on the Supreme Court’s rulings last week on the Affordable Care Act and same-sex marriage, along with trade legislation that contained several tax provisions.

In Supreme Court Decisions Impact ACA, Same-Sex Marriage, Wolters Kluwer analysts examined the Supreme Court’s decisions upholding the Affordable Care Act’s support for premium tax credits for health insurance purchased on the federal exchange; and legalizing same-sex marriage nationwide. In King v Burwell, the court ruled 6 to 3 that the Code Sec. 36B credit is available to enrollees in both federally facilitated and state run exchanges and marketplaces.

In Obergefell v. Hodges, the court ruled 5 to 4 that the Fourteenth Amendment requires a state to license a marriage between two people of the same sex and to recognize a marriage between two people of the same sex when a marriage was lawfully licensed and performed out of state. Both decisions have far-reaching tax consequences.

The other tax briefing, Trade Legislation Tax Provisions, focuses on two trade bills that Congress recently passed containing important tax changes affecting individuals and businesses. The Bipartisan Congressional Trade Priorities and Accountability Act of 2015 (HR 2146) and the Trade Preferences Extension Act of 2015 (HR 1295) were signed into law by President Obama. A third trade bill, the Trade Facilitation and Enforcement Act of 2015 (HR 644) is going to a House-Senate conference to iron-out differences. Both pieces of legislation include several tax provisions.  

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