New York Franchise Tax Archives

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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

June 17, 2024 By Maria Eberle, Lindsay LaCava, Mark Yopp and Rob Galloway 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…

New York’s ‘Reformed’ Regulations

February 22, 2016 By Maria Eberle and Lindsay LaCava 2 Mins Read

Beginning in October 2015, the New York State Department of Taxation and Finance has been releasing draft regulations that will implement New York’s extensive corporate franchise tax reform. The initial draft regulations addressed three topics: nexus, sourcing of other services and other business receipts, and sourcing of receipts from sales of digital products. The draft nexus regulations incorporate the new tax law’s economic nexus provisions. (See N.Y. Tax Law Section 209.1(a).) The draft sourcing regulations…