On January 8, 2025, a group of New York State Senators introduced S953, which proposes to increase the gross amount of GILTI under IRC § 951A included in the New York State business income base from 5% to 50%. This increase to corporations’ tax base is done by reducing the amount of GILTI excluded
New York Tax Appeals Tribunal denies sale treatment to oil swaps
On November 18, 2024, the New York Tax Appeals Tribunal (TAT) determined that Sunoco, Inc. (R&M) Combined Affiliates (Sunoco) was not entitled to include receipts from buy/sell agreements in its New York receipts factor because they were derived from inventory exchanges, not bona fide sales for monetary consideration.
Sunoco refined and marketed oil, and entered
A long goodbye: New York taxes severance package received a year after taxpayer’s relocation to Hawaii
The New York Division of Tax Appeals (DTA) held that a taxpayer’s employment severance payment received over a year after her relocation out of the state was allocable to New York for personal income tax purposes.
The taxpayer worked for a school in New York for 11 years before going on sabbatical leave and moving
NY Tax Talk: Questions in corporate franchise tax regs case
The first challenge to New York’s corporate franchise tax regulations is already in high gear: Paychex Inc. v. Department of Taxation and Finance. Although New York’s corporate tax reform took effect January 1, 2015, it took the department almost a decade to adopt the regulations. For many years, the draft regulations received comments and
New York Division of Tax Appeals finds New York source income on restricted stock units
The New York State Division of Tax Appeals determined that income from the vesting of restricted stock units of a nonresident taxpayer were subject to New York State personal income tax based on the taxpayer’s performance of services in New York during the restricted stock units’ vesting period. The Tribunal also determined that dividends on
NY Tax Talk: Triggers for tax on software-as-a-service
New York continues to closely review the application of state sales tax to services performed using software platforms.
Recently, two May decisions by the New York Tax Appeals Tribunal and the New York Division of Tax Appeals affirmed the Division of Taxation’s decision to tax service providers for the sales of prewritten computer software in
New York Tax Appeals Tribunal holds sales of a company’s labor procurement system are taxable as pre-written software
The New York Tax Appeals Tribunal held that a company’s fees related to sales of its labor procurement system were taxable sales of pre-written software.
Taxpayer, Beeline.com Inc., provides services to assist customers in gathering, organizing, managing and assembling their contingent labor force. As part of its service contracts, taxpayer grants its customers license to
New York Appellate Court rejects fuel distributor’s motor fuel excise tax request
A New York appellate court denied a motor fuel distributor’s (Distributor) motor fuel excise tax refund request on motor fuel brought into the state and delivered to a fuel refiner, marketer, and transporter (Marketer) “pursuant to an exchange agreement … whereby either company was permitted to remove fuel product from the terminal of its counterpart
Two days to tackle SALT! Introduction to State and Local Taxation Conference
The NYU School of Professional Studies is hosting its annual Introduction to State and Local Taxation Conference, which explores the essentials of sales and use tax and multistate income tax, on July 22-23. Held in Times Square, this SALT school is taught by leading practitioners and is ideal for those who are new to
NY Tax Talk: Primary function is key analysis for sales tax
Eversheds Sutherland’s SALT team is pleased to share that the first installment of their new Law360 column – NY Tax Talk – has published! Each quarter, the team will examine recent developments in New York tax law and provide an in-depth analysis in the column. In this installment, SALT attorneys Liz Cha and Jeremy Gove