NH vs MA-
Last week, the U.S. Supreme Court denied New Hampshire’s request that the Court exercise its original jurisdiction under the Constitution[i] to hear and resolve a conflict involving the taxation by Massachusetts...more
7/6/2021
/ Business Closures ,
Business Interruption ,
Coronavirus/COVID-19 ,
E-Commerce ,
Earned Income Tax ,
Governor Cuomo ,
Non-Residents ,
Out-of-State Employees ,
Remote Working ,
SCOTUS ,
State Sovereignty ,
State Taxes ,
Tax Credits ,
Telecommuting ,
Wages
New York’s Governor Cuomo is having a bad 2021. Some may attribute this to his hubris or to karma; others may point to an emboldened, and now veto-proof, progressive State Legislature; many will claim that Mr. Cuomo is paying...more
4/12/2021
/ Adjusted Gross Income ,
Corporate Taxes ,
Estate Tax ,
Governor Cuomo ,
Income Taxes ,
Low-Income Issues ,
New York ,
Pass-Through Entities ,
Popular ,
Qualified Opportunity Funds ,
Real Estate Transfers ,
State Budgets ,
State Taxes ,
Tax Code ,
Tax Cuts and Jobs Act ,
Tax Incentives ,
Tax Increases ,
Taxable Income ,
Wealth Tax
The New York state budget deal announced yesterday includes a workaround of the temporary federal limit on state and local tax deductions (the SALT cap). The provision was part of Gov. Cuomo’s initial budget proposal in...more
4/7/2021
/ Business Income ,
Governor Cuomo ,
Income Taxes ,
IRS ,
Itemized Deductions ,
New York ,
Pass-Through Entities ,
S-Corporation ,
SALT ,
Shareholders ,
State and Local Government ,
State Budgets ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Taxable Income
According to Justice Learned Hand, “Any one may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to...more
4/5/2021
/ Business Expenses ,
Business Taxes ,
Capital Gains ,
Enforcement ,
Estate Tax ,
False Claims Act (FCA) ,
Infrastructure ,
IRS ,
Joe Biden ,
New York ,
Qui Tam ,
Shell Corporations ,
State Attorneys General ,
State Taxes ,
Tax Audits ,
Tax Avoidance ,
Tax Increases ,
Tax Liability ,
Tax Planning ,
Wealth Tax ,
Whistleblowers ,
Withholding Tax
Are the rich making enough of a contribution to society? Are they bearing their fair share of taxes? Many New York legislators don’t think so.
Following the elections of November 2020, the State’s Democratic party secured...more
3/30/2021
/ Alternative Minimum Tax ,
American Rescue Plan Act of 2021 ,
C-Corporation ,
Capital Gains Tax ,
Coronavirus/COVID-19 ,
Corporate Taxes ,
Estate Tax ,
Fiscal Year ,
Governor Cuomo ,
Impeachment ,
Income Taxes ,
Investment ,
Joe Biden ,
New York ,
Nursing Homes ,
SALT ,
Sexual Harassment ,
State Attorneys General ,
State Budgets ,
State Taxes ,
Surcharges ,
Tax Increases ,
Tax Rates ,
Taxable Income ,
Wealth Tax