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Tax Credits Income Taxes

Hodgson Russ LLP’s Report on the 2017-18 New York State Budget

by Hodgson Russ LLP on

On April 10th, the New York State budget for 2017-18 was signed into law. The highlights of the revenue provisions are summarized below....more

Maryland Passes Bill to Allow 30% State Income Tax Credit for Energy Storage

by Stoel Rives LLP on

In what some commentators are calling the first of its kind, Maryland’s legislature has passed a bill that would allow taxpayers to claim a state income tax credit equal to 30% of the installed cost of an energy storage...more

Tax Highlights of Proposed Illinois “Grand Bargain”

by McDermott Will & Emery on

In an effort to resolve Illinois’ 20-month budget impasse, the Illinois Senate leadership (Senate Majority Leader John Cullerton and Senate Minority Leader Christine Rodogno) have jointly proposed a series of bills to...more

Things to Remember at Tax Time

Tax day, which is April 18th in 2017, is approaching and it is time to begin crossing T's and dotting I's in preparation for paying taxes. As tax time draws near, you want to make sure you file all the proper forms and take...more

Tax Reform in 2017? What is in Store for U.S. Businesses

by Snell & Wilmer on

With Republicans in control of the White House and Congress, one of the top priorities is tax reform. President Trump’s tax reform proposal and the House Republicans’ tax reform “Blueprint” suggest many changes to business...more

Oklahoma Tax Commission 2017 Proposed Rules Changes

by GableGotwals on

The Oklahoma Tax Commission has published 2017 proposed changes and additions to its rules governing administration of Oklahoma taxes. Tax Commission rules are adopted and published as part of the Oklahoma Administrative...more

MoFo New York Tax Insights - Volume 8, Issue 2

by Morrison & Foerster LLP on

Governor Cuomo Releases 2017-18 New York State Executive Budget - New York State Governor Andrew M. Cuomo released his 2017-2018 Executive Budget, containing an assortment of potentially important tax proposals,...more

Governor Cuomo’s Fiscal Year 2018 New York State Executive Budget

by Reed Smith on

On January 17, 2017, New York State Governor Andrew Cuomo released his 2017-2018 New York State Executive Budget and accompanying legislation. It contains proposed amendments to New York State’s personal income tax, corporate...more

2017-18 New York State Executive Budget Released by Governor Cuomo

by Morrison & Foerster LLP on

On January 17, 2017, New York State Governor Andrew M. Cuomo released his 2017-2018 Executive Budget. It contains several potentially important tax proposals, including the following...more

Becoming As Rich As Donald Trump: Financial and Tax Policies of the United States Government That Can Lead To Significant Wealth...

by M. Robinson & Company, P.C. on

Financial and tax policies of the United States government can help Americans achieve significant wealth through real estate ownership. These policies tend to favor taxpayers who, like the Trump family, are willing to commit...more

Trump Administration's Tax Reform Likely

by Hodgson Russ LLP on

Donald J. Trump defied the polls and much of the national media to win the US presidential election on November 8, 2016. President-elect Trump will be sworn in and will take office as the 45th president of the United States...more

Year End Tax Planning 2016

Proper year-end planning can help alleviate any unnecessary tax burden. While little happened in the way of tax legislation in 2016, there are certain tax breaks from which you may benefit and certain strategies that can be...more

The Times They Are a-Changin’ – Potential U.S. Tax Reform Implications of the 2016 Elections

by Dickinson Wright on

As a result of the United States federal elections on November 8, 2016, Donald J. Trump is the president-elect, and the House of Representatives and Senate both will consist of Republican majorities. As a result, it is...more

Potential for Tax Reform in 2017: Insight from Proposals of the President-Elect and Congressional Republicans

by Proskauer - Tax Talks on

In the U.S. general election held on November 8, 2016, Donald J. Trump was elected to become the 45th President of the United States. Republicans also retained their majorities in both the U.S. House of Representatives and...more

Another Wynne for Taxpayers: Unconstitutional Limitations on Credits for Taxes Paid to Other States

by Alston & Bird on

Originally published by the Institute for Professionals in Taxation, November 2016. In Comptroller of the Treasury of Maryland v. Wynne, the U.S. Supreme Court declared Maryland’s income tax credit scheme...more

Many South Carolina Tax Law Changes in 2016; Overall Tax Structure to be Reviewed in 2017

by McNair Law Firm, P.A. on

The South Carolina Department of Revenue (SCDOR) released its annual tax legislative update on October 10, 2016 in SC Information Letter #16-11. The guidance provides a summary of significant changes in tax and regulatory...more

Bill Proposes Tax Incentives For Data Breach Insurance

by King & Spalding on

On September 14, 2016, U.S. Representative Ed Perlmutter (D-Colo.) introduced the “Data Breach Insurance Act,” which would incentivize private industry to enhance its cybersecurity posture by providing federal income tax...more

Taxation Law Section - 2016 Oklahoma Tax Legislation

by GableGotwals on

The Following is a summary of some of the changes in Oklahoma tax law enacted by the Oklahoma Legislature in 2016. Income Tax - Investment/New Jobs Credit, $25 Million Cap, 2016-2018 - The Income tax credit for...more

Pennsylvania Tax Changes and Tax Amnesty Program

by Ballard Spahr LLP on

As part of the budget package, the Pennsylvania General Assembly made many significant changes to various Pennsylvania tax laws and the unclaimed property law (including a tax amnesty program) that are estimated to generate...more

The Cost of Clarity: IRS Issues Regulations Addressing Proper Treatment of Code Section 50(d) Income

by Williams Mullen on

On July 21, 2016, the IRS issued long-awaited regulations under Section 50 of the Internal Revenue Code (the “Code”) clarifying the manner in which “Section 50(d) Income” is to be recognized in lease pass-through investment...more

Green Tax Incentive Compendium

by Robinson & Cole LLP on

Federal Tax Incentives for Renewable Energy and Energy Efficiency - A. GENERAL DESCRIPTION. The Federal Internal Revenue Code provides a business income tax credit in the amount of $0.023 (2015) per kilowatt hour of...more

Georgia’s ‘Y’allywood’ Film Tax Credits Irresistible to Buyers

by Arnall Golden Gregory LLP on

“Y’allywood” is quickly supplanting “Hotlanta” as the cringe-worthy, yet seemingly ubiquitous term used to describe Atlanta’s new starring role. Like it or not, Y’allywood aptly captures the moment and growing trend that...more

Recreational Cannabis — Section 280E and Tax Efficient Structuring

Recreational cannabis businesses operate in a world of conflicting state and federal laws. Several states have legalized recreational cannabis, yet, under federal law, cannabis remains an illegal Schedule I drug under the...more

Connecticut Tax Developments

by Shipman & Goodwin LLP on

2016 Legislative Session: The New Economic Reality - In his February 2016 State of the State address, Governor Malloy announced that his administration would be adopting a new approach to state budgeting in light of...more

SC Public Policy Update - June 2016

by Nexsen Pruet, PLLC on

What's New - SENATE - The Senate spent the final three days of the legislative session debating the remaining House bills on the calendar as well as bills returned from the House. Members worked late into the night...more

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