The New York City Department of Finance (“Department”) has recently announced on its website that its still-pending business corporation tax regulations under City corporate tax reform legislation enacted in 2015 are expected...more
Commission payments made by a New York City-based partnership to an S-DISC, whose shareholders were all partners in the partnership, were subject to the unincorporated business tax (“UBT”) addback as nondeductible payments to...more
New York State Governor Kathy Hochul has signed into law a bill that imposes “bright-line” economic nexus based on in-City receipts, applicable to tax years beginning on or after January 1, 2022, under the New York City...more
Since the enactment of New York State corporate tax reform beginning in 2015, the New York State Department of Taxation and Finance (the “Department”) has been periodically posting for comment draft regulation sections...more
A recent decision involving the New York City unincorporated business tax addback for payments to partners is an important reminder that the addback may sometimes be applied even for payments that are not made to a partner of...more