Alert

New York State and City Tax Issues: Top Tax Issues Impacting Businesses and Business Owners Operating in New York

Choice of Entity, Nexus, Apportionment, Sales Tax, and Other Considerations

Note: CLE credit is not offered on this program

Recording of a 110-minute CPE webinar with Q&A


Conducted on Monday, February 17, 2020

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will explain the unique aspects of New York State and City taxation when compared to the laws of other jurisdictions. Our expert will guide SALT professionals and business owners through a summary and evaluation of key issues within New York's corporate tax, sales tax, withholding tax, and partnership tax laws. Emphasis will be placed on high-dollar value issues that commonly arise in litigation, as well as issues that are sometimes missed, and important tax considerations for anyone operating a New York business.

Description

New York's response to Wayfair in January 2019 requires businesses with no physical presence but sales above $300,000 and 100 transactions to register and remit state and local sales taxes. The effective date of this change is June 21, 2018, the date of the Wayfair decision, leaving advisers and businesses scrambling to comply.

In addition to the new challenges of business filings in New York, practitioners still face the challenges of determining the most appropriate business structure and the best practices when selling a business entity operating in New York. On top of New York state concerns, practitioners must understand how New York City taxes businesses including its commercial rent tax.

Listen as our speaker explores the complexities of doing business in New York State and City, including New York's response to Wayfair, what constitutes nexus in New York, tax issues for NY business owners, and more.

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Outline

  1. Doing business in New York--an overview
  2. New York State and City's response to federal tax reform
  3. Nexus thresholds
  4. Sales tax considerations
  5. Payroll tax considerations
  6. Choice of entity
  7. Selling a business
  8. Other considerations

Benefits

Our speaker will review these and other vital issues:

  • What are the considerations in deciding what type of entity to use to operate a New York business?
  • What are some of the key New York corporate income tax issues in light of New York's corporate tax reform regulations?
  • What are a few of the "traps for the unwary" under the New York State and New York City tax laws?
  • What are some of the salient New York sales tax issues that SALT professionals need to understand?
  • How did New York conform or not conform to the Tax Cuts and Jobs Act?
  • What do SALT professionals need to know about New York's whistleblower law as it applies to New York taxes?
  • What are some New York withholding and unemployment insurance issues for businesses?
  • What are personal income tax issues for owners of New York businesses, and what considerations should be taken into account when selling a New York business?

Faculty

Reed, Jeffrey
Jeffrey S. Reed

Partner
Kilpatrick Townsend & Stockton

Mr. Reed is the Chair of the State and Local Tax Practice. He represents businesses and individuals in state tax...  |  Read More

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$247