Hawaii Archives

SALT Implications of the One Big, Beautiful Bill Act

July 14, 2025 By Maria Eberle, Niki Ford and Matt Musano 17 Mins Read

On July 4, 2025, President Donald Trump signed the One Big, Beautiful Bill Act (hereinafter, “OBBBA” or “the Act”) into law. OBBBA enacts sweeping changes to the Internal Revenue Code (“Code”), many of which will impact taxpayers at the state level, including reforms to the federal state and local tax (“SALT”) deduction, Global Intangible Low-Taxed Income (“GILTI”), Foreign-Derived Intangible Income (“FDII”), section 174 research and development expensing, and section 163(j) business interest deduction limitations. Notably,…

New Year, Same New York—Bill Proposes Significant Tax Increases for Corporations

January 13, 2025 By Maria Eberle, Lindsay LaCava and Niki Ford 5 Mins Read

Starting the new year off with legislation aimed directly at the pockets of corporate taxpayers, New York has issued a legislative proposal to nearly cut in half corporate taxpayers’ available GILTI exemptions, and at the same time almost double the top corporate franchise tax rate. Senate Bill 953 (“SB953”), pre-filed in the state senate on January 8, 2025, has the potential to significantly increase New York franchise tax exposure for corporations doing business in the…

SALT Savvy: Coast-to-Coast SALT Updates – November Session

November 23, 2020 By Maria Eberle, Stephen Long and Rob Galloway 1 Min Read

The Baker McKenzie SALT team presented the fifth session of its monthly webinar series covering coast-to-coast state and local tax developments on November 11, 2020. If you were unable to attend the session, links to the recording and materials are provided below: View the recorded webinar Download the materials

Coronavirus Relief Bill Attempts to Address SALT Matters for Telecommuting Employees

July 29, 2020 By Maria Eberle and Mark Yopp 3 Mins Read

On Monday, July 27, the Senate Finance Committee released draft legislative provisions (“COVID-19 Bill”) regarding the next iteration of Coronavirus relief. Somewhat surprisingly, the provisions include the Remote and Mobile Worker Relief Act of 2020, which was introduced earlier this year as S. 3995 by Sens. Sherrod Brown (D-OH) and Jon Thune (R-SD). S. 3995 appears to be based on S. 604, the Mobile Workforce State Income Tax Simplification Act (“Mobile Workforce Act”), which was…