On April 7, 2021, the New York Legislature passed the New York Budget Bill for fiscal year 2022 (S2509âC/A3009-C) (the âEnacted Budgetâ), ushering in a slew of tax increases for businesses and high-income earners. As of the time of publication of this post, New York Governor Andrew Cuomo had not yet signed the Enacted Budget, but has indicated that he will do so. The Enacted Budget is the result of a months-long negotiation process that…
In a January 25, 2021 Order, the Supreme Court of the United States invited the Acting Solicitor General to file a brief in New Hampshire v. Massachusetts (concerning the dispute between the two states regarding Massachusettsâ COVID-19 personal income tax sourcing regulation) to âexpress[ ] the views of the United Statesâ in the matter. New Hampshire commenced the lawsuit last year, asking the Supreme Court to exercise its original jurisdiction to enjoin Massachusetts from enforcing…
The New York State Department of Taxation and Finance (âDepartmentâ) recently published guidance stating that a nonresidentâs income will be sourced to New York State unless the nonresidentâs remote work location meets the âbona fide employer officeâ exception to the âconvenience of the employer test.â Specifically, the Department addressed a question in its FAQs regarding how to source income for Personal Income Tax purposes where a nonresidentâs primary office is in New York, but the…
The Baker McKenzie State and Local Tax (SALT) Subpractice Group is presenting a series of short webinars to keep members of the SALT community abreast of recent developments in these less than certain times. We hope you will attend so we can stay connected as we address these issues together. The next session in the series, SALT Implications of Corporate Restructurings, will take place on Wednesday, May 20 at 1:00 pm ET. If you would…