Emily Townsend

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Not One but TWO Tax Events Coming Up this Week!


By on Jun 7, 2017
Posted In Illinois, New York, Uncategorized

Inside SALT: Significant State Tax Developments and Opportunities June 8, 2017 – New York, NY Lawyers in McDermott Will & Emery’s State and Local Tax Group present an informative half-day program. A wide range of topics will be discussed, including: New York developments, including false claims and budget provisions Nexus updates and developments in digital...

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Taking a Stand Against Retroactive State Legislation


By on Sep 9, 2015
Posted In Constitutional Issues, Nationwide Importance

Changing the past: Serious scientists, talented fantasists, regretful Ashley Madison members and many other segments of humanity have considered, and even longed for, the ability to rewrite history. One group has apparently succeeded – state legislatures that backdate tax law changes. Such success may be short lived, however, as experts identify significant legal and policy...

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Inside the New York Budget Bill: Proposed Sales Tax Amendments


By on Mar 25, 2015
Posted In New York, Sales Tax, Transaction Taxes

Governor Andrew Cuomo’s 2015-2016 New York State Executive Budget Bill (Budget Bill) contains several important revenue measures, including, but not limited to, technical corrections to the 2014 overhaul of New York State’s Corporate Franchise Tax, conformity of the New York City General Corporation Tax to the revised New York State Corporate Franchise Tax, and several...

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Inside the New York Budget Bill: Guidance Released Regarding Transitional Compliance and Qualified New York Manufacturers


By on Mar 2, 2015
Posted In Allocation/Apportionment, Income Tax, Interest and Penalties, New York, Tax Base

On March 31, 2014, Governor Andrew Cuomo signed into law a budget bill containing major corporate tax reform.  That new law resulted in significant changes for many corporate taxpayers, including a complete repeal of Article 32 and changes to the Article 9-A traditional nexus standards, combined reporting provisions, composition of tax bases and computation of...

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Happy Holidays from McDermott’s SALT Practice


By on Dec 18, 2014
Posted In Nationwide Importance

We thought our Inside SALT readers would enjoy a little diversion during the busy holiday season, so as a thank you to all of our readers and subscribers, we are pleased to present our first-ever Inside SALT Crossword Puzzle Contest.  We hope you’ll enjoy testing your knowledge of key state and local tax developments this...

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New York Corporate Tax Reform: Benefits (and Burdens?) for Qualified New York Manufacturers


By on Aug 7, 2014
Posted In Incentives, Income Tax, New York

Earlier this year, New York enacted sweeping corporate tax reform that included a number of special benefits for qualified New York manufacturers.  (For a discussion of this corporate tax reform, see our Special Report.)  Unlike most of the corporate tax reform amendments (which are generally effective for tax years beginning on or after January 1,...

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New Jersey’s New Laws — Retroactive for Most Companies


By on Jul 7, 2014
Posted In Allocation/Apportionment, New Jersey, Nexus, Sales Tax

A newly passed New Jersey law is interesting both for what it does and for what it does not do.  Assembly bill 3486/Senate bill 2268, attempts to “clarify” four aspects of New Jersey law (retroactively for three of the four!).  The four areas affected by the law change are:  (1) the business/non-business income distinction (called...

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One Thing’s Consistent—There’s No Duty of Consistency


By on Jun 3, 2014
Posted In Allocation/Apportionment, Nationwide Importance, New Jersey, UDITPA

Taxpayers resisting audit requests for tax returns filed in other states, or requests for details about the treatment of an item in another state, now have another quill in their arsenal besides the 2010 Oregon Tax Court decision in Oracle Corp. v. Dep’t of Rev., 2010 Ore. Tax LEXIS 32 (Or. T.C. 2-11-10).  The New...

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Inside the New York Budget Bill – Corporate Tax Reform Enacted


By on Apr 3, 2014
Posted In Allocation/Apportionment, New York, Nexus, Tax Base

Governor Andrew Cuomo has signed into law a budget bill containing major corporate tax reform.  This new law results in significant changes for many corporate taxpayers, including a complete repeal of Article 32 and changes to the Article 9-A traditional nexus standards, combined reporting provisions, composition of tax bases and computation of tax, apportionment provisions,...

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