The 113th Tennessee General Assembly adjourned sine die on April 25, 2024. The session was dominated by debate over the size and scope of the $1.6 billion legislative fix to the state franchise tax that naturally dashed plans...more
Lower-than-expected growth in the Tennessee economy has resulted in a slight decline in tax revenues thus far this fiscal year. Further complicating matters, state officials also recently disclosed a potential legal problem...more
The second regular session of the 113th Tennessee General Assembly will convene on Tuesday, January 9 at 12:00 p.m. Central. As members return, details of the recently announced ten-year $15 billion transportation project, as...more
On March 15, 2023, the two houses of the New York State Legislature released their respective amendments (Senate Bills S.4008 and S.4009, Assembly Bills A.3008 and A.3009, collectively the Amendments) to New York Governor...more
The North Carolina General Assembly ended its 2022 short session on July 1. While the legislature is scheduled to reconvene on July 26, no additional tax legislation is expected to be considered....more
New York’s Fiscal Year 2022 budget increases taxes on corporations and high earners and provides relief to pandemic-hit industries. Temporary increases to tax rates on corporations, individuals, and tax credits for...more
New York Governor Andrew Cuomo released his Fiscal Year 2021 budget and accompanying legislation on January 21, 2020 (the Budget Bill). Consistent with Governor Cuomo’s earlier promises, he has not proposed new taxes other...more
This Alert summarizes the more significant tax provisions enacted by the North Carolina General Assembly in 2019. The most important tax changes were originally included in House Bill 966, the 2019 Appropriations Act (the...more
This Alert summarizes the more significant tax provisions included in House Bill 966, the 2019 Appropriations Act (the “Bill”). The Bill, a Conference Committee measure reconciling the House and Senate budget proposals, was...more
On June 5, 2019, Illinois Governor J.B. Pritzker signed a $40 billion state budget bill into law. Among the various provisions included in the over 300 page budget is a provision providing for the phase-out of Illinois’...more
This week, Gov. Roy Cooper (D) issued his first veto since Democrats broke the super-majority in the legislature. Despite having a short week, House members filed over 200 new bills before leaving Wednesday for a spring...more
The North Carolina General Assembly passed two significant pieces of legislation affecting corporate activity, expansion and new investment in North Carolina. First, the General Assembly passed the state budget...more
The North Carolina General Assembly unveiled the state budget late Monday night – 76 days after it was due. Contained in the 429 pages are a number of proposed changes to the corporate income and franchise tax....more
On April 13, 2015, Governor Andrew Cuomo signed New York’s 2015-2016 budget legislation, which, among other changes, conforms the New York City general corporation tax (GCT) to the most significant changes from last year’s...more
In This Issue: Home Stretch to a PA Budget; PA to Project Vendor Overpayments In Some Audits; Township Business Privilege Tax Rejected; and Pennsylvania Supreme Court Upholds IFTA Liability. Excerpt from Home...more
As the Pennsylvania General Assembly heads down the home stretch to the June 30th deadline for passage of a budget for 2013-14, all indications suggest that the budget package will include significant substantive and...more
On March 28, 2013, the New York State Legislature passed budget legislation (S.2609D/A.3009D) that replaces the existing New York State and City related - party royalty add - back requirements with provisions based on the...more