On March 27, 2020, the President signed into law the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act). Passed in response to the economic repercussions of the COVID-19 pandemic, the CARES Act makes a number of significant changes to the I.R.C., including rolling back certain limitations on the utilization of net operating losses
Legal Alert
Legal Alert: Eversheds Sutherland files an amicus curiae brief on behalf of COST
Posted in Legal Alert
Eversheds Sutherland has filed an amicus curiae brief on behalf of the 550 members of the Council On State Taxation (COST) on an important issue as to whether a California imposition of certain local taxes is required to be passed by a two-thirds vote of the California legislature, or a simple majority. City and County…
New York Extends Personal Income and Corporate Tax Filing and Payment Deadlines Due to COVID-19
Posted in Legal Alert, New York
On March 29, 2020, the New York State Department of Taxation and Finance issued Notice N-20-2, extending the April 15, 2020 due date for New York State personal income tax and corporation tax returns to July 15, 2020. The Notice was issued in response to Executive Order No. 202.12 which, among other things, authorized…
Legal Alert: SALT issues arising from the Coronavirus (COVID-19) crisis
Posted in In the News, Legal Alert
COVID-19 is impacting many aspects of everyday business, and state taxes are not immune. The Eversheds Sutherland State and Local Tax team has put together the following list of considerations that businesses may want to keep in mind from a state and local tax perspective as the Coronavirus crisis continues to play out.
State Tax …
Legal Alert: New York addresses abatement of interest on sales tax remittances, extends court deadlines
Posted in Legal Alert, New York
On March 7, 2020, Governor Andrew Cuomo issued Executive Order No. 202, declaring a State disaster emergency in New York in response to the COVID-19 outbreak. Since that date, Gov. Cuomo has issued a series of Executive Orders providing New York taxpayers with some initial relief in response to the COVID-19 health crisis.
Read the…
What you need to know today about COVID-19 and California taxes
Posted in California, Legal Alert
Not even state taxes are immune from the COVID-19 pandemic. Below is a quick checklist – as of the time of publication – of coronavirus-related items and concerns affecting California state taxes.
- Concerned with an upcoming California tax return filing date? On March 12, 2020, Governor Newsom issued Executive Order N-25-20 which, among other items,
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Legal Alert: Significant tax legislation moves forward in Georgia
Posted in Legal Alert
Significant state tax legislation will move forward through the Georgia General Assembly. “Crossover Day” was Thursday, March 11 — the 28th legislative day of 40 total legislative days – the day by which all bills must have passed one legislative chamber in order to cross over and be considered by the other chamber. Bills that…
Legal Alert: New York Senate introduces digital advertising tax bill
On March 13, 2020, New York State Senator and Deputy Majority Leader Michael Gianaris (Democrat) introduced New York S.8056, which would establish a tax on a digital advertiser’s annual gross revenues derived from digital advertisements in the state.
New York’s proposed digital advertising tax is very similar to the tax proposed in Maryland.…
Legal Alert: Maryland’s digital advertising tax bill passes out of committee with amendments
Posted in Digital Economy, Legal Alert
The Maryland Senate Budget and Taxation Committee voted to pass out of committee Senate Bill 2, which would impose a new tax on digital advertising services. The committee amended the bill to include a new sourcing provision. Now, the Comptroller of the Treasury must determine when gross revenues are derived from digital advertising services…
Legal Alert: Maryland hearing on Digital Advertising Tax highlights problems, hints at amendments
Posted in Digital Economy, Legal Alert
On February 28, 2020, Maryland’s proposed Digital Advertising Tax was the subject of a hearing by the Maryland House of Delegates’ Ways and Means Committee. House Bill 695 would impose a tax on Maryland gross revenues from digital advertising services at a rate of up to a 10%. An archived video of the hearing is…