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New York

State & Local Tax Update: New York’s Response to Tax Reform

Posted 5:29 PM by
The 2018 New York State legislative session is well underway. The New York State Assembly’s biggest accomplishment thus far is the March 30 passage of the state’s 2018-19 budget bill (S07509C), which was then signed into law April 12, 2018, by Gov. Cuomo. While this budget bill provides some guidance on New York’s stance relating to the changes made by the Tax Cuts and Jobs Act (TCJA) (Public Law 115-97, 12/22/2017), the assembly’s budget bill ultimately came short in responding to several TCJA issues.
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KSM to Host Tax Reform Seminar May 15

Posted 4:00 AM by
In the most sweeping overhaul of the U.S. tax code in more than three decades, the Tax Cuts and Jobs Act of 2017 will have a profound impact on both individuals and businesses. The IRS has recently issued additional guidance on how this legislation will be implemented. What is the impact of these changes?
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What Tax Reform Means for Family Offices

Posted 1:00 PM by
The structure and dynamics of family offices are often as varied as families themselves. Because of that, the new tax law will impact each family office differently. While there are a number of new tax provisions that should be considered, the following is a summary of the ones that are most likely to impact you and your family.
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M&A in 2018: A Look at the Year Ahead

Posted 5:00 AM by
After record levels of dealmaking the prior two years, 2017 saw a slight decline in both the volume and number of U.S. private equity deals. With technology disrupting every industry, multiples remaining high, and fundraising reaching record levels, what will M&A look like in 2018?
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New York State & Local Tax Update: January 2018

Posted 5:00 AM by
Small businesses renting commercial property in downtown Manhattan are getting a break on their Commercial Rent Tax (CRT) under new legislation signed by Mayor Bill de Blasio in late December. Effective for tax years after July 1, 2018, the law provides a new tax credit for businesses that have income of less than $10 million and rent of less than $550,000.
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New York State & Local Tax Update: November 2017

Posted 2:25 PM by
An administrative law judge has agreed that the Division of Taxation correctly determined that the taxpayers were statutory residents of New York City for the 2011 through 2012 tax years.
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Combating Double Taxation: Foreign Tax Credits and Tax Treaties

Posted 4:00 AM by
The foreign tax credit and its application is complex and can vary widely when looking at state tax liabilities, and the application of tax treaties against state liabilities. A taxpayer that earns income abroad may potentially be subject to double taxation, making the foreign tax credit and tax treaties an important part of the tax filing process.
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New York State & Local Tax Update: June 2017

Posted 4:00 AM by
Purchases by a business of materials, which were installed as part of capital improvements to real property, were subject to sales and use tax.
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Bernstein to Serve as Panelist at Family Office Winter Forum

Posted 5:00 AM by
Mark Bernstein, partner-in-charge of Katz, Sapper & Miller’s New York office, will serve as a panelist at the Opal Group’s Family Office Winter Forum.
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Mergers & Acquisitions: A Look at the Year Ahead

Posted 2:31 PM by
Measuring by the number of mergers and acquisitions, the U.S. middle market is the most active sector, but 2016 saw a decline in both the number and value of transactions while valuations and multiples continued to rise. How will the challenges and opportunities from the past year influence mergers and acquisitions (M&A) in 2017?
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