Limited Liability Company (LLC), State Taxes, Audits

Drop & Swap Like-Kind Exchange Passes Muster in New York

Rivkin Radler LLP on 7/24/2025

New York’s personal income tax law, like that of other states, conforms with the federal system of income taxation. The reason typically given for such conformity is to simplify tax return preparation, improve compliance and...more

N.Y. Sales Tax – Responsible Person Liability

Rivkin Radler LLP on 11/15/2023

NY Needs the Revenue- A couple of weeks ago, the Tax Foundation released its latest “State Business Tax Climate Index,” which assesses a state’s tax system and compares it to that of other states. New York seems to be a...more

Pre-Consolidation Conversions in the Accounting World – Tax Considerations

Rivkin Radler LLP on 6/29/2023

Another Change- Last week BDO confirmed that it was going to convert from an entity organized as a limited liability partnership under state law to one organized as a corporation. With that, BDO became the latest in a...more

Can You Be Sure You’ve Left New York Before The Sale of Your Business? Will It Matter?

Rivkin Radler LLP on 5/18/2023

Hasta La Vista N.Y.- Wealthy individuals continue to leave New York for tax friendlier jurisdictions. Be Prepared- Some of these taxpayers take a very methodical approach toward planning for their departure. They...more

With IRS Partnership Audits Ramping Up, Will More States Enact the MTC Model Statute?

Bradley Arant Boult Cummings LLP on 8/16/2022

Landmark changes in the federal income tax treatment of partnerships (including multi-member LLCs) became effective in 2018 for many more partnerships than first anticipated. As a result of the Bipartisan Budget Act of 2015,...more

Will New York Be Looking At Your Federal Tax Return? Probably

Rivkin Radler LLP on 5/24/2022

State Finances- Much has been written over the last few weeks about the unprecedented financial cushion that many states have accumulated thanks to federal support prompted by the pandemic and larger-than-expected tax...more