State Taxation

  • Doing Business in New York: The Post-Pandemic Tax Landscape

    By:
    Elizabeth Pascal, JD, and Katherine Piazza
    |
    Oct 1, 2021
    Over the past 18 months or so, we’ve been writing and speaking about the ways in which the COVID-19 pandemic has precipitated or hastened many changes that businesses were already facing:  reimagining the workplace; relocating offices and their owners; and operating within an increasingly complex multistate tax and compliance landscape.
  • College Tuition and the Pandemic Impact in New Jersey

    By:
    Mark H. Levin, CPA, MS (Taxation)
    |
    Oct 1, 2021

    On June 29, 2021, New Jersey Governor Phil Murphy signed P.L. 2021 Ch. 128, the New Jersey College Affordability Act (CAA). The CAA makes several changes to the gross income tax, the aim of which is to make a college education more affordable to New Jersey taxpayers.

  • Minimizing the Risks of a New York State Residency audit After COVID

    By:
    Karen Tenenbaum, Esq., LLM. (Tax), CPA
    |
    Aug 1, 2021
    COVID-19 caused millions of people to make a change in where and how they were living. To get away from crowds, they left cities in favor of the suburbs. Others sheltered in place free of the obligation to travel to an office. In many cases, this did not affect their taxes. However, where taxpayers lived and worked in different states, an opportunity arose to revisit their taxes. 
  • The Double-Tax Whipsaw: Some Problems with Resident Credits

    By:
    Elizabeth Pascal, JD and Ariele R. Doolittle, Esq.
    |
    Aug 1, 2021
    We would like to think that states give their residents a full tax credit for taxes paid to other state jurisdictions so that individuals won’t be subject to double taxation. Although this is often the case—for example, a state gives its resident a credit for taxes paid to a neighboring state on wages earned there—it isn’t always the case.
  • Supreme Court Rejects Challenge to the Affordable Care Act

    By:
    David Silverstein, CPA
    |
    Aug 1, 2021

    In a June 17, 2021 decision, the Affordable Care Act (ACA, “Obamacare”) survived its third and presumably final challenge as the Supreme Court rejected the challenge in a 7-2 decision. This margin of victory was wider than the 5-4 and 6-3 decisions from the prior two Supreme Court cases applicable to the ACA (in 2012 and 2015, respectively). 

  • Retirement Plan Distributions – New Guidance From The Department of Labor

    By:
    David A. Guadagnoli, Esq., JD, LLM (taxation)
    |
    Jun 1, 2021
    Whether you audit retirement plans, assist employers or individual clients with retirement benefits or are responsible as a fiduciary for your own retirement plan, you know that the proper distribution of benefits is at the very heart of tax-favored retirement plans, which broadly encompass Section 401(k) and 403(b) plans, profit sharing plans, employee stock ownership plans (ESOPs), defined benefit plans, and various other forms of plans, programs, and arrangements.
  • America, Love It or Leave It!: Tax Consequences of Citizenship Renunciation

    By:
    Alicea Castellanos, CPA
    |
    Feb 1, 2021
    During the tumultuous protests against the Vietnam War in the late ’60 s and ’70s, many pro-war activists decried the slogan “America, love it or leave It!” The meaning behind the slogan is that there is no middle road when proclaiming allegiance and loyalty to the United States—that is, you are either supportive of your country and the decisions made by its government, or if not, you have the choice to live elsewhere. It is a highly emotional proclamation reminiscent of a time in this country when people were deeply divided on life-and-death issues. 

 
Views expressed in articles published in Tax Stringer are the authors' only and are not to be attributed to the publication, its editors, the NYSSCPA or FAE, or their directors, officers, or employees, unless expressly so stated. Articles contain information believed by the authors to be accurate, but the publisher, editors and authors are not engaged in redering legal, accounting or other professional services. If specific professional advice or assistance is required, the services of a competent professional should be sought.