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Public Law 86-272 – Federal Law Seeks to Giveth what the States Continue to Taketh Away with a Retroactive Twist

By , and 10 Mins Read

The U.S. states’ tireless attempts at diminishing protections afforded under Public Law 86-272 (“P.L. 86-272”) have been headlining the state tax press for the last several years. For example, we saw, among other developments: (1) the MTC publish its revised Statement of Information (“MTC Statement of Information”) outlining proposed protected and unprotected activities under P.L. 86-272, including certain activities conducted over the Internet; (2) states (including California, New Jersey and New York) publish guidance seeking…

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

By , and 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…

Qualified New York Manufacturer Wins at New York Division of Tax Appeals: Use of Third-Party Subcontractor Did Not Affect Eligibility for State Franchise Tax Reduced Rate

By , , and 6 Mins Read

The New York Division of Tax Appeals recently ruled in favor of a taxpayer, E. & J. Gallo Winery, holding that it met the statutory requirements of a “Qualified New York Manufacturer” (“QNYM”) and was therefore entitled to a reduced corporation franchise tax rate. As a result of New York’s corporate tax reform, QNYMs are entitled to a reduced tax rate, including a 0% tax rate on their business income base beginning in 2014, for…

Plot Twist: New York Legislation Would Give the Commissioner of Taxation and Finance Appeal Rights Following Certain Adverse Tribunal Decisions

By , , , , and 4 Mins Read

As part of the New York Budget Legislation (“S.B. 4009 / A.B. 3009”),  the Commissioner of the New York State Department of Taxation and Finance (“Commissioner”) will be given the right to appeal certain types of decisions from the New York State Tax Appeals Tribunal (“Tribunal”).  Currently, only taxpayers have the right to appeal Tribunal decisions.  This provision is on the cusp of becoming law after clearing both legislative chambers on May 1, 2023.  As…

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