Shareholders, Sales Tax

New York Sales Tax: When a Responsible Person Acts Irresponsibly

Rivkin Radler LLP on 2/18/2025

Late last year, the Office of the State Comptroller (the “OSC”) estimated that sales and use tax receipts would increase by 2.3% in the SFY 2024-2025. The OSC also projected that collections from sales and use taxes would...more

Shareholder Beware: Personal Liability for N.Y. Sales Tax

Rivkin Radler LLP on 5/10/2022

Limited Liability? Many individual taxpayers who invest in a closely held business, including one organized as a corporation, fail to appreciate there are circumstances in which they may be held personally liable by a...more

States’ Rights, State Taxation, And . . . New York “S” Elections?

Farrell Fritz, P.C. on 2/3/2020

How Did We Get Here? On September 9, 1776, Congress officially adopted “United States” of America as the name of our then-newly-born nation. The former British colonies had previously referred to themselves as the “United...more

Trust Fund Tax: Responsible = Liable (?)

Farrell Fritz, P.C. on 12/11/2017

Some shareholders are content with being wholly passive investors in a corporation. Others desire some degree of participation in the day-to-day management of the corporation’s business. Still others are willing to abstain...more

MoFo New York Tax Insights - Volume 8, Issue 6

Morrison & Foerster LLP on 6/7/2017

Judge Dismisses $2.4 Billion False Claims Act Suit Brought Against Citigroup - A New York State Supreme Court Judge has dismissed a qui tam False Claims Act (“FCA”) suit brought by Eric Rasmusen, an economics professor at...more

“But I Didn’t Know” – Protecting Yourself from Responsible Person Status

Farrell Fritz, P.C. on 12/12/2016

A couple of weeks ago, we considered a situation in which an unscrupulous partner (perhaps in cahoots with an IRS agent) tried to stick one of their partners with the federal employment taxes owed by their failing business....more