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 taxpayersâ available GILTI exemptions, and at the same time almost double the top corporate franchise tax rate. Senate Bill 953 (âSB953â), 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…
The Supreme Court has denied review of New Hampshireâs lawsuit against Massachusetts seeking to invalidate the latterâs controversial personal income tax sourcing regulation. The Supreme Courtâs highly anticipated decision was likely influenced by the acting U.S. Solicitor Generalâs amicus brief arguing against the Supreme Court taking up the case. The Supreme Court has thus passed on reviewing the broader issue of whether and to what extent a state may impose its personal income tax on…
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…
On Monday, July 27, the Senate Finance Committee released draft legislative provisions (âCOVID-19 Billâ) 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 (âMobile Workforce Actâ), which was…