CPAs need to be aware of current tax developments impacting all state and local tax jurisdictions in order to properly advise businesses operating in multiple…
Shift Towards Single Sales Factor and Market-Based Sourcing
Recent Changes in Massachusetts, Tennessee, New Jersey, and Vermont
The field of state and local taxation is a constantly evolving area. Not only are rules becoming more complex, but the state's ability also to…
SALT Round-Up—Key Updates in Several Jurisdictions
Looking at Maryland, New Jersey, North Carolina
CPAs need to be aware of current tax developments in key states to properly advise clients doing business in multiple jurisdictions. As state and local…
ICYMI | A Taxpayer Victory in a Statutory Resident Case
New York Court of Appeals Denial Finalizes a Landmark Decision
On February 9, 2023, in a major victory for the taxpayer, the New York State Court of Appeals (New York State's highest court), denied the…
A Taxpayer Victory in a Statutory Resident Case
New York Court of Appeals Denial Finalizes a Landmark Decision
On February 9, 2023, in a major victory for the taxpayer, the New York State Court of Appeals (New York State's highest court), denied the…
The ABCs of Worker (Mis-)Classification
Recent Developments in New Jersey
Whether a “worker” is properly characterized and treated as an “employee” or as an “independent contractor” is a complex—but increasingly important—inquiry for business owners and…
The ABCs of Worker (Mis-)Classification
Recent Developments in New Jersey
Corey L. Rosenthal, JD, and Lance E. Rothenberg, JD, LLM Whether a “worker” is properly characterized and treated as an “employee” or as an “independent…
CPAs need to be aware of current tax developments in key states to properly advise clients that are doing business in multiple jurisdictions. As state…
CPAs need to be aware of current tax developments in key states to properly advise clients that are doing business in multiple jurisdictions. As state…
Key Personal Income Tax Decision
New York Appeals Court Holds Taxpayer’s Vacation Home Did Not Qualify as ‘Permanent Place of Abode’
In a significant development, a New York appeals court recently held that a taxpayer's vacation home did not, in fact, qualify as a “permanent place…
The Taxability of Third-Party Food Delivery Services
Understanding Complex Local Rules to Determine the Responsible Party
Two years into an unprecedented global pandemic, the impact of coronavirus (COVID-19) is still felt in many industries. The hospitality industry continues to be one…
Routine corporate transactions, including mergers, acquisitions, and reorganizations, can carry significant sales and use tax consequences. If transactions, including intercompany transfers, are not properly evaluated…
COVID-19 and the ‘Great Lockdown’
Telework Multistate Tax Considerations
The COVID-19 pandemic has had a profound impact on, well, nearly everything, including businesses, individuals, and CPAs grappling with its effects upon state and local…
Several northeastern states are finally in agreement with regard to the imposition of state and local taxes (SALT). To this end, Connecticut, New Jersey, and…
The Death Knell for SALT Cap Workarounds?
Treasury’s Final Regulations Uphold the $10,000 Cap
The itemized deduction for state and local taxes (SALT) under Internal Revenue Code (IRC) section 164 had long provided relief to taxpayers residing in high…
Changing the State and Local Tax Nexus Playing Fields
An Update on the Impact of Wayfair
One of the major state and local tax developments that CPAs have been dealing with is the Supreme Court's decision on June 21, 2018, in South…
The IRS Shutdown of SALT Deduction Workarounds
A Comparison of States
The Tax Cuts and Jobs Act of 2017 (TCJA) included a $10,000 cap on state and local tax (SALT) deductions. That cap has led New…
Tax & Accounting Update is provided by Thomson Reuters and based on material published on Checkpoint, its online news and research platform. The Update is…
Two major state and local tax (SALT) issues on the minds of tax professionals and taxpayers are the Tax Cuts and Jobs Act's (TCJA) changes…
State and Local Tax Roundup
Current Developments in New Jersey and Connecticut
CPAs need to be aware of current tax developments in key states to properly advise clients that are doing business in multiple jurisdictions. Below is…
Congress and the SALT Deduction
Past, Present, and Future
The Tax Cuts and Jobs Act (P.L. 115-97) (TCJA) represents the most significant overhaul of the tax system in decades. One of the most contested…