State & Local Tax (SALT)

Friedman’s tax professionals are at the forefront of tax reform news to inform and empower you to best position yourself...

Like many states, Connecticut is wrestling with how the Tax Cuts and Jobs Act's ("TCJA") $10,000 limitation on a taxpayer's...

Gain the knowledge you need to reap tax benefits and avoid pitfalls in the wake of the most significant overhaul to...

If you own or operate a business in Pennsylvania, as you gear up for tax filing, know that the Pennsylvania...

On December 22, 2017, Governor Cuomo executed an emergency Executive Order that allows New Yorkers to prepay their 2018 property taxes in 2017, prior to the effective date of the new federal tax law that imposes limits on the amount of the state and local tax deduction.

Sales and Use Tax: Effective January 1, 2018, New Jersey’s general 6.875% sales and use tax will be reduced to 6.625%....

By now, you’ve seen media headlines covering the House Tax Reform Bill introduced on November 2. What you may not...

As Washington takes up the mantle of tax reform, Friedman LLP proudly releases a timely study featuring insights gleaned from a...

Nearly twenty years ago, while consulting with several clients about state and local tax issues, I discovered a problematic theme—noncompliance...

The White House released its promised tax reform agenda, known as the “September Framework.” While longer than the previous version,...

News for online marketplace sellers in participating states: beginning August 17, 2017 through October 17, 2017, the Multistate Tax Commission...

Sales and use tax considerations can be quite complex, and when applied to the purchase of high-end art, these taxes...

In order for a state to legally impose its taxes upon an out-of-state entity, nexus – a connection between the...

The demise of many of the larger traditional “bricks and mortar” retailers, coupled with the remarkable growth of mega online...

As Washington takes up the mantle of tax reform, Friedman LLP proudly releases a timely series of insights gleaned from...

For many foreign companies expanding their business operations into the United States, the focus of their tax planning usually centers...

It comes as no surprise to New Yorkers that year after year, numerous tax studies conclude that they face some...

Businesses are often surprised to learn of the New York City Unincorporated Business Tax (UBT), an entity-level tax imposed on...

Defining the Issue It is no secret that the annual growth rate of internet retail sales is far outpacing the yearly...

Tom Corrie, State and Local Tax practice leader, discusses how direct marketing and internet sales connect to state and local...

Tax planning is a year-round endeavor, but several year end strategies might reduce your 2015 tax bill.Here are five to...

Beware the passive foreign investment company Have you considered investing into an investment partnership that invests in PFICs? If so, think...

For 2015 and after, employers retaining at least a certain number of employees (generally 50 full-time employees or a combination...

The most effective estate-planning strategies often involve the use of irrevocable trusts. But what if you’re uncomfortable placing your assets...

Ignorance is bliss is a mantra for many taxpayers when it comes to compliance and tax obligations. When contacted by...

Perhaps there is no area of state and local tax law that is more perplexing to businesses than sales and...

When it comes to taxes, is there a state that is winning the ‘tax battle?’ NJCPA Magazine asked Friedman LLP...

Is the new audit regime easier for the IRS to enforce and for practitioners to advise clients about? Michael Greenwald,...

The sourcing of wages has become a major concern for non-resident employees of New York businesses given the number of them now seeking to telecommute at least on a part-time basis. New York’s “convenience of the employer” rule (the “Rule”) is targeted directly at such situations, and can operate as a trap for the unwary in many cases.

For most businesses, the likelihood of being audited by the Internal Revenue Service (IRS) is less than 2%, but ask those who have been through one and the response is always the same – it is a long, gut-wrenching process, no matter how good your records are.

Real estate transfer tax is a tax imposed by states, counties and municipalities for the privilege of transferring real property within a jurisdiction. The tax is sometimes referred to as real estate conveyance tax, mortgage transfer tax or documentary stamp tax, among other terms.

As a state and local tax practitioner located in New York City, one of the questions I hear most often from potential clients is "What is Commercial Rent Tax?" Usually, that inquiry is immediately followed by the exclamation "I didn’t even know such a tax existed!" After I start explaining the nature of the Commercial Rent Tax ("the CRT") to them, they generally find it difficult to believe that New York City (the "City") imposes a tax on the very expensive rent already being paid by them. Guess what, it does!

The New York State and New York City tax laws have numerous traps for unwary nonresidents. To avoid one of the biggest tax hazards, nonresidents owning or renting homes within New York must be aware of the applicable residency tests and what records they should maintain to avoid a dual residency determination. Nonresidents of New York State are only taxed on income earned in or sourced to the state. New York City only taxes city residents. However, if a nonresident is not attentive to the residency tests, the tax consequences can have New York State, and possibly New York City, seeking to impose tax on all income, including interest, dividends, and capital gains, regardless of its source.

Notwithstanding the different agendas of the various states, the benefit inherent in sales and use taxes seems to be one area that they are able to agree on.

In general, the earnings of a corporation are often taxed twice both at the federal level and at the state and local level. Ordinary corporations, commonly known as Subchapter C corporations (or “C corporations”) are taxed on their income at the entity level, and should the corporation’s income be distributed to its shareholders via a dividend distribution, such income is taxed again at that level.

Every taxpayer at one time or another will get some type of correspondence from the IRS, but many are unaware of the proper steps to take in responding to it.

A recent ruling issued by the New York State Department of Taxation and Finance (the “Department”) provides some interesting guidance...

Many taxpayers, when confronted with an overwhelming New York State tax liability, throw their hands up to the sky in despair...

A good tax-planning technique is to sell a poor-performing security to “harvest” the loss and offset it against your capital gains. But what if you have high hopes for the security and would like to keep it in your portfolio?

Tom Corrie, principal at Friedman LLP and director of the firm's State and Local Tax Group, to speak on “State...