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State Taxation

  • Taxation of the Mobile Workforce – An Employer’s Perspective

    By:
    Mark S. Klein and Brandon J. Bourg
    |
    Mar 1, 2024
    It’s 2024. No longer is working from home merely a fad brought on by the pandemic (unlike baking sourdough or watching Tiger King). Studies suggest that nearly 30% of employees have adopted some type of hybrid work arrangement or combination of in-office working with the flexibility to work from home. Remote work is becoming increasingly popular, and by all indications is here to stay.                                                                                                                

  • The Inflation Reduction Act: Clean Energy Tax Credits and Deductions

    By:
    Don L. Warrant, CPA
    |
    Mar 1, 2024

    The Inflation Reduction Act of 2022 marks a pivotal moment in the realm of clean energy investments, offering tax incentives for businesses and individuals to employ sustainable practices. The Act serves to incentivize taxpayers to invest in clean, renewable energy property by providing incentives in the form of tax credits and deductions. Certain incentives provided by the Act are discussed below. 

  • 2023 New York Tax Update – Year in Review

    By:
    Daniel Kelly
    |
    Feb 1, 2024

    2023 was another busy year for New York taxes.  Highlights included: a Budget with new appeal rights for the Tax Department, enhanced disaster relief, and important—but narrow—tax increases; final and adopted regulations, tracking updates and various changes brought about by New York’s 2014 corporate tax reform; continued pressure on the allocation of wage income from remote work and a recent nonresident wage allocation decision; new tools on the New York Tax Department’s website for taxpayers and tax practitioners; and numerous other updates.

  • A Practical Discussion with Respect to Internal Revenue Code Section 1031—The "Like Kind" Tax-deferred Exchange, Part 1

    By:
    Raymond L. Liebman, Esq., CPA
    |
    Feb 1, 2024

    This article is a three-part series explaining the basics of the tax-deferred 1031 exchange, the different types available, the mechanics of how they work, and the benefits to be reaped by a client who decides to partake in such an exchange.

  • Sales Tax – It’s the Things You Don’t Know to Fear…

    By:
    Mark Stone, CPA, MST
    |
    Dec 1, 2023

    Over 30 years, the problems that clients experience with sales tax tend to repeat themselves, over and over and over again. Most of those problems are easily preventable if someone would just spend 15 minutes discussing sales tax with them when they started the business, or at least one year or two later—when the business started to get traction and really took off.

  • The New York Pass-Through Entity Tax (PTET): Frequently Asked Questions and Answers

    By:
    Elizabeth Pascal, Esq., JD
    |
    Nov 1, 2023
    New York’s Pass-Through Entity Tax (PTET) is now in its third year. Since its passage as part of the 2021/22 budget legislation in April 2021, New York has made some significant changes and released interpretive guidance responding to some of the most common questions about the elective tax. It has become clear that the PTET offers significant benefits to many taxpayers by shifting the incidence of the tax from individuals, who are limited to a $10,000 federal deduction for state and local taxes, to entities that may deduct the entirety of the tax federally.
  • Hot New York Tax Topics in the Hedge Fund World

    By:
    Timothy P. Noonan, JD, and Ariele R. Doolittle, Esq.
    |
    Nov 1, 2023
    There have been countless reports in recent years of hedge funds leaving New York in favor of better state tax and business climates. And New York’s weather isn’t driving the exodus.  Instead with the onset of remote work during and after the COVID-19 pandemic, many service professionals have realized that they can do their work from anywhere.

 
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.