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Tax Credits Taxable Income

Rivkin Radler LLP

New York Can Be Stingy Giving Credit – Resident Tax Credit, That Is

Rivkin Radler LLP on

The Office of the New York State Comptroller just released a new report that examines taxpayer migration trends during the pandemic. The report, which builds on an earlier analysis of pre-pandemic taxpayer migration trends,...more

Vinson & Elkins LLP

Inflation Reduction Act of 2022: Corporate Alternative Minimum Tax

Vinson & Elkins LLP on

On August 16, 2022, the Inflation Reduction Act of 2022 (the “IRA”) was enacted into law. Among other changes to the Internal Revenue Code of 1986, as amended (the “Code”), the IRA imposes a 15% corporate alternative minimum...more

McDermott Will & Emery

U.S. Tax Court Finds Refundable State Credits Result in Taxable Income

McDermott Will & Emery on

The United States Tax Court recently determined that certain refundable tax credits issued by New York in connection with economic development activities (EZ Credits) constituted taxable income to the recipients for federal...more

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