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New York Gov. Cuomo Signs 2021/2022 Budget Bill
Posted by Tarra Curran on Fri, Apr 23, 2021 @ 11:38 AM

On April 19, 2021, New York Governor Andrew Cuomo signed the FY2022 New York State (NYS) budget bill (“the Bill”)(S.2509-C/A.3009-C). which among other items, includes various temporary tax increases and provisions affecting certain individuals, pass-through entities, and corporations operating in the state. Below is a recap of the most significant tax provisions included in the comprehensive budget legislation.

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Topics: Tarra Curran, Cuomo’s Budget Proposal, New York Tax Reform, New York, Cuomo's Budget Bill

New York Taxpayers Should Brace for Net Operating Loss Changes
Posted by Tarra Curran on Mon, Jun 20, 2016 @ 10:01 AM

A recent decision from the New York Tax Appeals Tribunal (the “Tribunal”) may have a big effect on state taxpayers, who are already working through significant corporate tax reform changes.

The Tribunal ruled that New York taxpayers must use entire net income to determine their New York net operating losses (NOLs) deduction, even when their franchise tax for the year was measured using an alternative base.

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Topics: Tarra Curran, NOL, Net Operating Loss, New York Tax Reform, NOLs, New York

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