State and Local Tax (SALT) Articles
Posted by Mark Stack on October 10, 2022
Is your business remitting the proper amount of sales and use taxes to the appropriate state and local jurisdictions? A comprehensive review of your organization’s sales and use tax practices, along with improving and automating the necessary processes, may ultimately save your business time and money.
Posted by Mark Stack on July 22, 2022
Could your manufacturing company owe tax in another state? One way to learn the answer is to conduct a nexus study.
Posted by Mark Stack on May 13, 2021
On April 19, 2021, Florida’s governor signed S.B. 50 into law, making Florida one of the last states to adopt economic nexus and marketplace facilitator rules for sales tax purposes since the landmark U.S. Supreme Court decision in South Dakota v. Wayfair.
Posted by Mark Stack on April 26, 2021
As part of New York state’s (NYS) budget bill passed by the Assembly on April 7, a pass-through entity (PTE) tax election has been provided for partnerships, limited liability companies treated as partnerships for federal income tax purposes, and New York S corporations.
Posted by Mark Stack on April 07, 2021
An outcome of the 2022 FY New York State budget, passed on April 7, 2021, includes a circumvention of the federal limit on State and Local Tax (SALT) deductions.
Posted by Cory Van Deusen V on April 07, 2021
In the early morning hours of Tuesday, April 7, 20201, New York state leaders agreed on a $212 billion budget that includes increased tax rates for both large businesses and the wealthy in New York State.
Posted by Mark Stack on February 01, 2021
The Consolidated Appropriations Act earmarks an additional $284 billion for a new round of forgivable small-business loans under the Paycheck Protection Program (PPP) and makes a number of important changes to the program. On January 6, 2021, the IRS followed up by issuing Rev. Rul. 2021-2, which revokes its prior position on the disallowance of deductions for PPP-related expenses.
Posted by Mark Stack on May 14, 2020
Why should it matter for a business whether its employees work from home temporarily or if they work remotely in a state other than where the employer’s base of operations is located? In the discussion that follows, we explore three important state and local tax (SALT) effects that could result from teleworking employees.
Posted by Mark Stack on April 13, 2020
Click through for a full chart with details of federal and NY state tax filing and payment extensions due to COVID-19.
Posted by Brian Kern on January 06, 2020
With the passage of tax reform legislation knows as the Tax Cuts and Jobs Act (TCJA), a significant opportunity exists for investors to defer capital gains tax owed.