Attention FAE Customers:
Please be aware that NASBA credits are awarded based on whether the events are webcast or in-person, as well as on the number of CPE credits.
Please check the event registration page to see if NASBA credits are being awarded for the programs you select.

tax_stinger_logobanner

 
 

State Taxation

  • Tax Credits and Incentives to Benefit Growing Businesses Part 2

    By:
    Barry Halpern, CPA
    |
    Aug 1, 2022

    In part one of this article, we provided an overview of common types of credits and incentives and discussed how these incentives could benefit businesses and business owners. In part two, we will look at common New York State credits and incentives, and some considerations for claiming them.

  • State Reaction to TCJA Foreign Provisions

    By:
    Chaim Kofinas, CPA, PFS, MST
    |
    Aug 1, 2022

    After a very rushed flurry of activity in Congress, President Donald Trump signed legislation commonly known by its acronym TCJA (Tax Cuts and Jobs Act). This legislation had many far-reaching provisions affecting individuals as well as businesses. Also included in this legislation were some far-reaching provisions affecting businesses in international commerce.

  • NYS Residency — Did You Actually Change Your Domicile?

    By:
    Brian Gordon, CPA
    |
    Jul 1, 2022
    As a trend I have been noticing more recently, clients want to change their residency from New York State to Florida because they are expecting a large capital gain, or large income in the near future. They want to change their residency prior to that gain having to be reported on a New York resident return.

  • The Incredible Growing Sales Tax

    By:
    Melanie Lee, JD, and Marc Simonetti, JD
    |
    Jun 1, 2022

    The state and local sales tax landscape is constantly shifting as the marketplace of goods and services evolves. Recently, there has been a series of changes related to states expanding their sales tax. First, states are expanding their jurisdiction to impose sales tax, i.e., increasing the number of people subject to tax through nexus. Second, states have attempted to expand the sales tax base by subjecting new transactions and services to tax.

  • International Tax Implications for Digital Assets

    By:
    Mark DiMichael, CPA, CFE
    |
    Jun 1, 2022
    Digital asset businesses and investors are quickly recognizing that the legal and regulatory framework of the United States is highly burdensome for their business activities. The various rules can result in added legal and accounting costs related to filings with the Securities & Exchange Commission, compliance with the Bank Secrecy Act, and understanding and complying with the patchwork of money transmitter laws and state tax nexus laws in 50 different states. 

  • Cannabis Taxes in New York State: How High Is Too High

    By:
    Jason Klimek, Esq., and Kara Cline, CPA
    |
    Apr 1, 2022

    New York State legalized adult-use cannabis on March 31, 2021, under the Marijuana Regulation and Taxation Act (MRTA). Along with legalization came Article 20-C of the New York State Tax Law. Article 20-C, effective April 1, 2022, imposes the first U.S. THC potency excise tax. The excise tax is in addition to a 13% sales tax, which replaces the standard state and local sales tax rates

  • Preparing for a Successful New York State Audit Defense

    By:
    Karen J. Tenenbaum, Esq., LLM (Taxation)
    |
    Mar 1, 2022

    A client walks into your office with an audit notice from New York State. If you are not familiar with state audits, you may be wondering how similar they are to an IRS audit. Although the strategies are alike in many ways, there are also significant differences, particularly with residency and sales tax audits. At the 2021 NYSSCPA, New York and Tri-State Taxation Conference in December, our panel discussion on New York State Audit Defense and Alternative Strategies outlined the essential steps tax professionals should take to prepare for and resolve state tax audits as effectively as possible.
Page

Trending Articles

 
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.