Business Taxes, New York

The One Big Beautiful Bill: SALT Deduction Workarounds Under Fire

Proskauer - Tax Talks on 5/15/2025

On May 12, 2025, House Republicans unveiled a comprehensive 389-page package of tax provisions, setting the stage for a significant tax bill to be debated in the coming weeks. Dubbed the “One Big Beautiful Bill,” this...more

California OTA Denies Credit for NYC Business Taxes in Precedential Opinion

Pillsbury - SeeSalt Blog on 12/11/2024

In the Appeal of Mather, the California Office of Tax Appeals (OTA) held in a precedential opinion that New York City’s (NYC) Unincorporated Business Tax (UBT) was not a tax “imposed by and paid to another state,” as required...more

New York Tax Continues to Inconvenience Nonresidents Working Remotely

Rivkin Radler LLP on 9/26/2024

Last Friday, New York’s Governor Hochul delivered the following remarks at the annual meeting of the Business Council of New York State:“Someone asked me today, are we going to raise income taxes? I said, ‘I’m not raising...more

Location, Location, Location: New York’s Apportionment Rules for Investment Managers

Cadwalader, Wickersham & Taft LLP on 4/29/2024

New York State recently issued final corporate franchise tax regulations for sourcing income (the “Regulations”), including specific sourcing rules for service fees paid by passive investment customers (“PICs”) to investment...more

In NYC, Cannabis Business Expenses Now Deductible

Rivkin Radler LLP on 11/21/2023

New York Governor Kathy Hochul signed a bill on Friday, November 20, 2023, that allows New York City cannabis businesses to deduct business expenses paid or incurred in carrying on such business for purposes of determining...more

New York to Taxpayer: “Forget What the Feds Said, You’re a ‘Responsible Person"

Rivkin Radler LLP on 8/9/2022

Where is the Economy Heading? According to the data released Friday by the Department of Labor, the U.S. economy added approximately 528,000 jobs in July, reducing the unemployment rate to 3.5 percent. Although this...more

Thinking About ‘Avoiding’ NY Tax Increases? Then Think About The False Claims Act

Rivkin Radler LLP on 4/5/2021

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

Business Taxes › New York