The New York City (“City”) Department of Finance (“DOF”) has taken a significant step forward in implementing its corporate tax reform provisions enacted in 2015 by proposing the first installment of its regulations under a new Chapter 11A of Title 19 of the Rules of the City of New York (“Proposed Rules”). These Proposed Rules come nearly two years after the New York State (“State”) Department of Taxation and Finance (“DTF”) adopted its final regulations…
On April 1, 2017, Delaware issued proposed regulations to establish instructions and guidelines for the administration of the state’s newly enacted abandoned and unclaimed property statute, SB 13. The proposed regulations would repeal and replace the existing unclaimed property regulations in Delaware and would be the primary guidance for implementing SB 13. SB 13 was introduced in the Delaware General Assembly in early January and was, ultimately, signed into law on February 2, 2017. SB 13 was enacted, in part, to address concerns raised in recent litigations, especially those constitutional concerns raised by the federal court in Temple-Inland Inc. v. Cook, 1:14-cv-00654 (D. Del. June 28, 2016) (“Temple-Inland”). (See our prior coverage Delaware Proposes Unclaimed Property Legislation).