We're excited to report an important positive development in the Hoosier state. Earlier this week, in response to a Complaint we filed with our TruST partner association NetChoice, the Indiana Department of Revenue acknowledged that it has no authority under current law to enforce its new “economic presence” nexus statute (House Enrolled Act 1129). This litigation challenging the law’s constitutionality is now pending in state Superior Court in Indianapolis. Under the new law, which went into effect on July 1, 2017, retailers with more than $100,000 in Indiana sales or 200 transactions annually with Indiana customers would be required to collect and remit Indiana sales tax. Before the law took effect, in late June Brann & Isaacson filed suit on our behalf alleging that the statute violates the long-standing physical presence “substantial nexus” requirement for state sales taxes under Quill Corp. v. North Dakota. Click Read More below for additional detail.

• Adobe achieved record quarterly revenue of $1.84 billion in its third quarter of fiscal year 2017, which represents 26 percent year-over-year revenue growth. • Diluted earnings per share was $0.84 on a GAAP-basis, and $1.10 on a non-GAAP basis. • Digital Media segment revenue was $1.27 billion, with Creative revenue growing to $1.06 billion. • Digital Media Annualized Recurring Revenue (“ARR”) grew to $4.87 billion exiting the quarter, a quarter-over-quarter increase of $308 million. • Adobe Experience Cloud achieved revenue of $508 million, which represents 26 percent year-over-year growth. • Operating income grew 48 percent and net income grew 55 percent year-over-year on a GAAP-basis; operating income grew 43 percent and net income grew 46 percent year-over-year on a non-GAAP basis. • Cash flow from operations was $704 million, and deferred revenue grew to approximately $2.20 billion. • The company repurchased approximately 2.1 million shares during the quarter, returning $298 million of cash to stockholders. Click Read More below for additional detail.

Bonnier LLC and Guy Harvey Enterprises have entered into a new partnership for the custom publishing and production of the award-winning Guy Harvey Magazine, the official publication of the Guy Harvey brand now in its 12th year. Bonnier will act as Guy Harvey Magazine’s full-service publishing house, handling all aspects of design, production and sales for the title. “Having worked with the Bonnier team on a number of projects for many years, I’m truly excited about this new partnership,” Dr. Guy Harvey said. “They are consummate professionals and leaders in the marine media genre. Bringing together our expertise in research, education and conservation with their knowledge and broad reach to our collective audiences is a perfect partnership.” Guy Harvey Magazine was launched in 2010 with an editorial focus on the Guy Harvey lifestyle, specifically on marine conservation, education, fishing, boating, scuba diving and adventure travel.