Shaking things up in state and local tax
Shaking things up in state and local tax
By Ted Friedman and Andrew Appleby
The New York State Department of Taxation and Finance issued an Advisory Opinion regarding the availability of Qualified Emerging Technology Company (QETC) facilities, operations and training credits pertaining to purchases of patents and other property related to hollow metal golf ball production. The Department stated that QETC credits for…
By Christopher Chang and Andrew Appleby
In an action challenging the constitutionality of two New York flat highway taxes, a New York trial court ruled in favor of the taxpayer, denying a motion to dismiss filed by the New York State Department of Taxation and Finance. The taxpayer made clear in its opposition to the…
Click here to read our January 2014 posts on stateandlocaltax.com or read each article by clicking on the title. A printable PDF is also available here. To read our commentary on the latest state and local tax developments as they are published, be sure to download the Sutherland SALT Shaker mobile app.
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By Nicole Boutros and Timothy Gustafson
The New York State Department of Taxation and Finance issued an advisory opinion determining that a securities broker may source receipts from “matched principal transactions” based on the “production credit method” provided in New York tax law. The taxpayer was a U.S. entity operating in six states, including New…
By Sahang-Hee Hahn and Timothy Gustafson
The New York Supreme Court, Appellate Division, held that interest income derived from Xerox Corporation’s equipment financing agreements with governmental customers failed to qualify as “investment income” for New York Corporation Franchise Tax purposes. Xerox’s financing agreements consisted of two types: fixed purchase option leases and installment sales. Xerox…
By Nicole Boutros and Andrew Appleby
In a case of first impression interpreting when substantial intercorporate transactions are present for purposes of New York’s mandatory combined reporting provisions, a New York State Division of Tax Appeals Administrative Law Judge (ALJ) concluded that the taxpayers could not file on a combined basis. In 2007, New York…
A New York State trial court has denied a motion filed by Sprint Nextel Corporation and its subsidiaries (Sprint) to dismiss a claim brought under the New York False Claims Act (FCA) alleging the company knowingly filed false tax returns and underpaid New York State sales taxes on fixed-rate monthly wireless telephone…
We invite you to read our articles from June 2013 here on our website, or read each article by clicking on the title. If you prefer, you may also view a printable PDF version.
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By Christopher Chang and Jack Trachtenberg
New York’s highest court has ruled that the state violated the Constitution when it retroactively denied tax credits to businesses under the 2009 amendments to the state’s Empire Zone Program. The Empire Zone Program is designed to stimulate private investment and job creation in designated areas throughout the state…
We invite you to read all of our articles from May 2013 here on our website, or read each article by clicking on the title. If you prefer, you may also view a printable PDF version.
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