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Ward and Smith, P.A.

Pay Raises and Infrastructure Improvements: A Closer Look at the NC House Budget

Ward and Smith, P.A. on

North Carolina's House lawmakers recently unveiled their proposed two-year spending plan for the state, well ahead of the traditional schedule. The proposed nearly $30 billion budget would set a new record high for state...more

Manatt, Phelps & Phillips, LLP

New York State Fiscal Situation Stable, Clouds on the Horizon

On November 4, the New York State Division of the Budget (DOB) issued their mid-year update to the State Fiscal Year (SFY) 2023 enacted budget and financial plan. The mid-year report covers the first half of SFY 2023, from...more

Rivkin Radler LLP

Leaving New York? Can You Prove It?

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“Summertime and the Living” Isn’t Easy- Summer in the New York Metro Area can be challenging. Some would say it sucks. It gets really hot. When it rains, it pours – no spritz here. The humidity is oppressive. Ironically, a...more

Smith Anderson

North Carolina Tax Legislation Enacted in the 2022 Short Session

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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

Parker Poe Adams & Bernstein LLP

South Carolina Passes Targeted Tax Reform Legislation

The South Carolina General Assembly passed tax reform legislation providing targeted relief to individuals and to manufacturers, including (i) a one-time rebate of up to $700 in 2021 taxes for individuals; (ii) cuts to the...more

McGuireWoods Consulting

Georgia 2022 Legislative Session Preview

On Jan. 10, the Georgia General Assembly convened for the 2022 legislative session. As this is the second year in the legislative biennium, all legislation that did not pass in 2021 carried over to this year, with many bills...more

Smith Anderson

Finance Provisions of the 2021 Budget Bill

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On November 15, 2021, after months of negotiations and four and a half months into the new fiscal year, the North Carolina General Assembly released Senate Bill 105, its proposed budget bill (the "Bill"). Both Chambers...more

Alston & Bird

New York’s FY 2022 Budget Bill Crosses Finish Line

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New York State’s budget bill is on the governor’s desk. Our State & Local Tax Group provides the most significant highlights for you and your business. Higher tax rates for the wealthy, lower tax rates for the middle class....more

Rivkin Radler LLP

New York Is Getting Out Of The Zone, The Qualified Opportunity Zone, That Is

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New York’s Governor Cuomo is having a bad 2021. Some may attribute this to his hubris or to karma; others may point to an emboldened, and now veto-proof, progressive State Legislature; many will claim that Mr. Cuomo is paying...more

Eversheds Sutherland (US) LLP

New York Legislature finalizes FY 2022 budget

On April 6 & 7, 2021, the New York Assembly and Senate passed Fiscal Year 2022 budget legislation addressing revenues and taxation (the Budget Bill). The Budget Bill is part of a broader deal between Governor Cuomo and both...more

Rivkin Radler LLP

New York Budget Deal Includes SALT Cap Workaround

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The New York state budget deal announced yesterday includes a workaround of the temporary federal limit on state and local tax deductions (the SALT cap). The provision was part of Gov. Cuomo’s initial budget proposal in...more

Rivkin Radler LLP

New York Is Poised For Some Significant Tax Increases

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Are the rich making enough of a contribution to society? Are they bearing their fair share of taxes? Many New York legislators don’t think so. Following the elections of November 2020, the State’s Democratic party secured...more

Mintz - ML Strategies

Governor Baker Releases FY2022 Budget Bill

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During his annual State of the Commonwealth address, Governor Charlie Baker highlighted the heroic work of frontline workers and first responders throughout the COVID-19 pandemic, while reminding the Commonwealth that though...more

Blank Rome LLP

New York Governor Releases 2021-22 Executive Budget

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On January 19, 2021, New York State Governor Andrew M. Cuomo submitted his Executive Budget, applicable to the state’s fiscal year beginning April 1, 2021. The governor’s proposal, which will now be the subject of public...more

Bradley Arant Boult Cummings LLP

Business Council of Alabama and Birmingham Business Alliance Announce Their 2020 Tax/Economic Development Legislative Agendas -...

The influential Business Council of Alabama (BCA), founded in 1985, and the Birmingham Business Alliance (BBA), the state’s oldest and largest chamber of commerce, have each officially approved their 2020 legislative agendas....more

McGuireWoods Consulting

Georgia 2020 Legislative Session Preview

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When the 236 members of the Georgia General Assembly convene on January 13 for the final year of the 2019-2020 biennial session, several issues will compete for their attention before turning their full focus toward the 2020...more

Holland & Hart LLP

Utah Legislative Update - November 2019

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Tax Reform continues to dominate Utah’s Capitol Hill as the Tax Restructuring and Equalization Task Force has released draft legislation that it may recommend to the entire Legislature for action. In late October, the Task...more

Nutter McClennen & Fish LLP

Massachusetts Senate Does Not Decouple From IRC 163(j)

We reported on a provision in the supplemental budget passed by the Massachusetts House of Representatives. That provision decoupled the Massachusetts tax code from Internal Revenue Code Section 163(j). The governor has also...more

Brooks Pierce

North Carolina Legislative Update - October 2019

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The impasse between Governor Roy Cooper and the General Assembly over the 2019 budget bill (H966) continued this week, as Legislators considered some additional “mini-budget” bills. The House overrode Governor Cooper’s veto...more

Moore & Van Allen PLLC

MVA Monitor - August 2019 #5

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The budget stand-off continued this week. Legislators rolled out a number of mini-budgets this week, but their futures are uncertain. The General Assembly will take a break next week for the Labor Day holiday, so it will...more

Moore & Van Allen PLLC

MVA Monitor - August 2019 #4

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As the budget stalemate nears its second month, new budget proposals emerged from the General Assembly. The next few weeks could see attempts at piecemeal budgets and tax rebates. In other news, high profile and controversial...more

UB Greensfelder LLP

Opportunity Knocks Again in Ohio: New Tax Credit for Opportunity Zones

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On June 20, 2019, the Ohio Senate unanimously approved a state budget bill, House Bill 166, which includes a new tax credit for investments made into Ohio’s opportunity zones. Originally passed unanimously by the Ohio Senate...more

Roetzel & Andress

Ohio State Budget Update: What You Need To Know

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After a 17-day delay, state budget negotiations concluded, and Governor Mike DeWine signed Ohio’s $69 billion two-year state operating budget into law. On June 30, lawmakers passed an interim budget, which ran through July...more

McGuireWoods Consulting

Illinois End of Session Report

New Governor, New General Assembly, Democratic Trifecta - The 2019 legislative session began with the inauguration of a new governor and the members of the 101st General Assembly. With a large number of retirements and...more

Smith Anderson

Tax Provisions in the North Carolina 2019 Appropriations Act

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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

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