Taxation

  • Revised Forms and Credits: NYSDTF Opens New Year with a Bang

    By:
    RICHARD J. KORETO
    |
    Jan 14, 2014
    The staff at the New York State Department of Taxation and Finance apparently spent the holiday season gearing up for the upcoming tax season, releasing a variety of notices to correct and clarify key filing issues. All of the notices cover issues that tax practitioners should address in the near future.
  • Sales Tax and the Repeal of Prohibition

    By:
    RICHARD J. KORETO
    |
    Jan 14, 2014
    The 21st amendment, which repealed Prohibition back in 1933, would hardly seem to be news. But it actually came into play in what initially appeared to be a very ordinary query before the state tax department. The Office of Counsel usually can resolve sales tax confusion by consulting state laws and regulations, with occasional references to court cases and IRS rules. But in Advisory Opinion TSB-A-13(35)S, the state based its decision—almost entirely—on one of the U.S. Constitution's most famous amendments. 
  • With Taxation, It's About Timing

    By:
    RICHARD J. KORETO
    |
    Jan 8, 2014
    As a recent case shows, sometimes the state has to rule on tax issues that aren't really about tax at all. In Advisory Opinion TSB-A-13(8)I, the provisions of the law weren't in question; rather, the petitioner wanted to know what the state thought a plain English phrase meant. As a result, the state tax department had to step in and make a ruling because the state legislature had been vague.
  • Tax Relief Commission Addresses Property and Business Taxes

    By:
    RICHARD J. KORETO
    |
    Jan 7, 2014
    With his state-of-the-state address due for delivery on Jan. 8, Cuomo's mind is clearly focused on taxes. Indeed, the ink is still wet on the report of the Tax Relief Commission, chaired by Carl McCall and George Pataki, which focused on property tax relief for homeowners, incentives to local governments to reduce cost of operations, lowering the corporate tax rate and updating the estate tax. And on Jan. 6, Cuomo issued a press released detailing a $2 billion tax relief plan, which may become a centerpiece of tomorrow's address.
  • State Sen. Flanagan speaks to NYSSCPA members about tax reform

    By:
    ROBERT BUSWEILER
    |
    Dec 16, 2013
    Thirty CPAs from the NYSSCPA’s Suffolk and Nassau chapters met with state Sen. John J. Flanagan
    (R-2) on Dec. 10 as part of the Society’s new Legislative Breakfast series. Representatives from the offices of state Sen. Lee M. Zeldin (R-3) and state Sen. Phil Boyle (R-4) also attended the two-hour event aimed at connecting members with their local lawmakers and to its legislative agenda. The breakfasts are cooperative efforts between the Society and its chapter leaders.
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