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Thanks to three primary revenue bills that were signed into law earlier this year, taxes are going up in the state of Washington, in particular for large service businesses, estates and individuals earning capital gains. ...more
By June 7, 2025, Gov. Bob Ferguson is expected to sign legislation into law that would increase funding for Washington State's Education Legacy Trust Account (ELTA) by raising the capital gains and estate tax rates. ...more
On April 13, the Massachusetts House of Representatives approved H.3770, a tax reform bill that includes significant changes for individuals, businesses and estates. The bill is now with the Senate’s Ways and Means Committee,...more
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
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
Hoping to avoid a potential government shutdown, this week the Legislature passed a biennial budget that once again makes significant tax changes, but stops well short of the major tax reform desired by many legislators. The...more
New York’s recently passed legislation, effective April 1, 2014, significantly changes its estate tax regime and income tax regime for certain trusts. This Alert discusses the implications of this legislation....more