MoFo New York Tax Insights - Volume 10, Issue 8

Morrison & Foerster LLP

Welcome to the latest issue of New York Tax Insights. In this issue we cover:

..The New York State Department of Taxation and Finance’s release of revisions to its draft business corporate franchise tax regulations for computing the business apportionment fraction under New York State corporate tax reform. The revisions, if promulgated, will impact many businesses, including those in the financial services industry.

..A decision of the Appellate Division, Third Department, confirming the New York State Tax Appeals Tribunal holding that an elevator installation company was liable for sales and use tax on the elevator products that it purchased for sale and installation, along with services and maintenance sales related to the elevators...

Please see full Issue below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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