The Internal Revenue Service (IRS) released Notice 2020-75 on November 9, 2020, which validates the federal income tax deductibility of the payment of the Connecticut Pass-Through Entity Tax (the “PET”)....more
The “Opportunity Zone” community development program was established by Congress in the 2017 Tax Cuts and Jobs Act to encourage long-term investments in low-income urban and rural communities nationwide. ...more
1/14/2019
/ Capital Gains ,
Community Development ,
Economic Development ,
Investment Funds ,
Investment Opportunities ,
Low Income Housing ,
Low-Income Issues ,
New Market Tax Credits ,
Opportunity Zones ,
Public Finance ,
Qualified Opportunity Funds ,
State and Local Government ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
Tax Incentives ,
Tax Reform ,
Trump Administration
Following the passage of the Federal Tax Cuts and Jobs Act in late 2017, the Connecticut legislature attempted to modify Connecticut estate tax law and make it more consistent with the new, much higher $11.2 million federal...more
8/24/2018
/ Estate Planning ,
Estate Tax ,
Gift Tax ,
Gift-Tax Exemption ,
Income Taxes ,
New Legislation ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Reform ,
Trump Administration
June 5, 2018 The Tax Cuts and Jobs Act, which was passed by Congress last year, imposed a $10,000 limit on state and local tax (“SALT”) deductions.
...more
6/6/2018
/ Corporate Taxes ,
Income Taxes ,
New Legislation ,
Pass-Through Entities ,
SALT ,
State and Local Government ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Planning ,
Tax Rates ,
Tax Reform ,
Trump Administration
Although much of the reporting on the Tax Cut and Jobs Act recently enacted by Congress has focused on the deductions for individuals and businesses, the bill also includes several provisions that apply specifically to...more
2/21/2018
/ Colleges ,
Compensation & Benefits ,
Corporate Taxes ,
Excise Tax ,
Executive Compensation ,
Income Taxes ,
Net Investment Income ,
New Legislation ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exempt Entities ,
Tax Planning ,
Tax Rates ,
Tax Reform ,
Trump Administration ,
UBIT ,
Universities
Although much of the reporting on the Tax Cut and Jobs Act recently enacted by Congress has focused on the deductions for individuals and businesses, the bill also includes several provisions that apply specifically to...more
2/12/2018
/ Colleges ,
Compensation & Benefits ,
Corporate Taxes ,
Excise Tax ,
Executive Compensation ,
Income Taxes ,
New Legislation ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Tax Exempt Entities ,
Tax Planning ,
Tax Rates ,
Tax Reform ,
Trump Administration ,
UBIT ,
Universities