On August 10, 2022, the New York State Department of Economic Development issued emergency regulations to implement the state’s Digital Gaming Media Production Tax Credit Program. The legislature enacted the program to encourage, attract, and grow the digital game development industry in New York State. The purpose of the tax incentive, which was included in
Neither here nor there: New York holds resident tax credits cannot be claimed for intangible income
The New York State Tax Appeals Tribunal upheld an income tax assessment and disallowed taxpayers’ claim of resident tax credits (RTCs) to the extent such RTCs were claimed for taxes paid to Connecticut on the taxpayers’ carried interest income. The taxpayers, both of whom were residents of New York, were employed by an affiliate of
New York’s false positive: Reforming the False Claims Act
New York is considering expanding its False Claims Act to “knowingly or illegally failing to file” a tax return.
Not only should the legislature reject the proposed legislation, New York should roll back its FCA so it does not apply to taxes.
In this installment of “A Pinch of SALT” in Tax Notes State,
Real talk about real property transfer taxes
In this episode of the SALT Shaker Podcast, Eversheds Sutherland Associates Jeremy Gove and Cyavash Ahmadi tackle real property transfer taxes, in particular how they come into play in corporate transactions.
Jeremy and Cyavash highlight how the tax functions in certain jurisdictions and different nuances of their imposition, how state tax professionals can assist on
The complex questions of combined reporting
In this episode of the SALT Shaker Podcast, Eversheds Sutherland Associate Jeremy Gove teams up with Associate Cyavash Ahmadi to discuss the complexities of combined reporting, specifically comparing and contrasting the combined reporting regimes in New York and California. They discuss several of the nuances of both states’ systems and even debate what “Joyce v.
Get out of town! Court upholds New York City tax applying investee apportionment
On April 12, 2022, the Appellate Division, First Department dismissed a taxpayer’s appeal from the New York City Tax Appeals Tribunal, and held that the Tribunal’s decision to uphold a tax assessment on an out-of-state entity’s gain from the sale of a partnership interest was “rational.”[1]
The taxpayer was an investment vehicle that formed
Booted out of Indiana: Indiana DOR finds that parent holding company has no nexus for combined return
The Indiana Department of Revenue found that a holding company was properly excluded as a member of its affiliates’ financial institutions tax (FIT) combined group return because the company failed to establish nexus with the state. The Department also decided that for purposes of the FIT, there is no distinction between business and nonbusiness income.
Tennessee Department of Revenue rules platform is software, implementation and content fees taxable
The Tennessee Department of Revenue ruled recently that an information technology company’s platform product was subject to Tennessee sales and use tax. The platform was used to support a decision-making process.
The platform was hosted on Taxpayer or third-party servers, and users accessed the platform from their employer’s electronic software system. The platform was highly
How Justice Breyer influenced state tax jurisprudence
US Supreme Court Justice Stephen Breyer, who announced his retirement last week, leaves behind a series of notable decisions that continue to shape state and local taxation.
In this article published by Law360, Eversheds Sutherland attorneys Jeff Friedman, Justin Brown, Catalina Baron and Cyavash Ahmadi discuss some of Justice Breyer’s notable contributions to the
New York’s Governor Hochul rejects flawed False Claims Act expansion
On New Year’s Eve 2021, New York’s Governor Hochul vetoed Senate Bill S. 4730, delivering a win to taxpayers. The bill as passed by the New York Legislature earlier this year proposed to expand New York’s already overreaching False Claims Act (FCA).
Most states have a false claims act that is modeled after the federal