MoFo New York Tax Insights - Volume 4, Issue 5 - May 2013

In This Issue:

New York Enacts Significant Changes to Related Member Royalty Add-Back Law; Nuclear Power Plant That Produces Steam and Water to Generate Electricity Not Eligible for Investment Tax Credit; Appellate Division Upholds Denial of Insurance Company’s Claim for Refund of Retaliatory Tax; S Corporation Shareholders Permitted to Allocate Higher QEZE Credit to NY; and Insights in Brief.

Excerpt from New York Enacts Significant Changes to Related Member Royalty Add-Back Law -

Governor Cuomo has signed into law changes to the related member royalty income exclusion and expense add-back law, applicable for both New York State and New York City corporate tax purposes for tax years beginning on or after January 1, 2013. S. 2609D, A. 3009D, Ch. 59, N.Y. Laws of 2013. Most significant is the elimination of the royalty income exclusion where the related payor is subject to the royalty expense add-back.

Please see full issue below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Morrison & Foerster LLP - State + Local Tax ("SALT") practice | Attorney Advertising

Written by:


Morrison & Foerster LLP - State + Local Tax ("SALT") practice on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.