Technology and Biosciences Articles
New York State 2022 Budget Decouples Opportunity Zone Tax Benefits from Federal Tax Benefits
Posted by Cory Van Deusen V on May 13, 2021
The New York state FY 2022 budget bill signed by Governor Andrew Cuomo on April 19 includes a provision that “decouples” certain state income tax benefits for qualified opportunity zone (QOZ) funds from those provided under federal tax law. The change is effective January 1, 2021.
Florida Enacts Economic Nexus and Marketplace Legislation
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.
Help Ensure the IRS Doesn’t Reclassify Independent Contractors as Employees
Posted by Kelsey Weigel on May 13, 2021
Employee or independent contractor? That’s the question businesses ask when they bring on certain workers. Here are the basic rules to help keep you out of tax trouble.
How Manufacturers Can Benefit from Blockchain Technology
Posted by Jonathan Roller on May 05, 2021
Blockchain has the potential to transform the manufacturing sector. By automating certain processes and making it virtually impossible for someone to make unauthorized changes, blockchain can streamline the supply chain, improve transparency and reduce costs.
New Law Approves Temporary COBRA Subsidy
Posted by Kathleen Strobele on May 04, 2021
The new American Rescue Plan Act (ARPA) requires employers to offer a 100% subsidy to qualified former employees for COBRA health care coverage. This is good news for workers because COBRA coverage can be expensive.
Is Social Media Subject to Discovery?
Posted by Benjamin Schuver on May 03, 2021
Data stored on social media platforms may be fair game in pre-trial discovery — even if the user limits access to personal posts. Many courts have decided that private isn't necessarily the same as not public, and they're granting discovery requests to obtain relevant social media evidence in civil cases.
New York State Enacts Pass-Through Entity Tax Election
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.
COBRA Provision under the American Rescue Plan Act
Posted by Kerry Roets on April 21, 2021
Do you have former employees currently on your COBRA rolls? Or employees that have been laid off within the last 18 months who haven't enrolled in COBRA but still could? Your company might need to pay for those COBRA benefits upfront for up to six months before recouping that expense via tax credits.
Employees Now Enjoy Even Greater Flexibility with FSAs
Posted by Kathleen Strobele on April 13, 2021
Employees who choose to participate in employer-provided flexible spending accounts (FSAs) can realize several tax benefits. Recent legislation provides participants with an even greater incentive to contribute to these accounts.
Top Five PPP FAQs
Posted by Jenna Torella on April 12, 2021
The Paycheck Protection Program (PPP) loan process has become increasingly complicated as new guidance and enhancements to the program have been announced.