SeeSALT BlogNuclear fuel storage facilities have been impacted by a change in New York law, which requires facilities located at permanently shut down nuclear power plants to be assessed as real property for ad valorem tax purposes, leading to potential larger, national impacts. SALT team members Zachary T. Atkins, Breann E. Robowski, Craig A. Becker, and Marc A. Simonetti team up with Pillsbury’s Energy attorneys to discuss.
Articles Posted in New York
Transfer Tax and Distressed Real Estate: New York and California
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Real Estate markets in major cities have taken a hit given the events of the past year. In the latest Swimming Lessons Series presentation, SALT partner Craig Becker and Real Estate partner Andrew Weiner explore the intersection of transfer tax and enforcement in New York and California. Continue Reading ›
New York Trial Court Finds State’s Attempt to Tax Storage Services Performed Entirely in New Jersey Arbitrary and Capricious
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A New York trial court held that charges for storage services rendered in New Jersey were not subject to New York sales tax despite the fact that the property was originally picked up in New York. Vital Records, Inc. v. New York State Dep’t of Taxation & Finance, No. 900088-19 (N.Y. Sup. Ct. Albany Cty. Aug. 19, 2020). The case was not heard by the New York State Division of Tax Appeals, which is the typical venue for state tax disputes. Instead, the vendor brought an action against the New York State Department of Taxation and Finance (“Department”) and its executive deputy commissioner in a New York Supreme Court (trial court) seeking declaratory, injunctive, and other relief.
Tax Executives Institute New York Chapter State and Local Tax – Summer Update Virtual Meeting
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Pillsbury SALT attorneys Marc Simonetti, Carley Roberts and Nicole Boutros will present during TEI NY’s State and Local Tax Summer Update Meeting, sponsored by Pillsbury, on August 26.
New York FY 2021 Budget Bill Decouples from CARES Act Taxpayer Relief Provisions
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On April 3, 2020, New York State enacted the 2021 fiscal year budget (Budget). The Budget contains several tax measures including decoupling from taxpayer relief provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). The CARES Act was signed into law on March 27, 2020 with the primary objective to provide economic relief and greater liquidity to American taxpayers facing hardship because of the COVID-19 crisis. Specifically, the Budget decouples from taxpayer favorable provisions in the CARES Act including the increase to the permitted business interest expense deduction and the beneficial NOL provisions. As a result, New York taxpayers will not receive the benefit of the CARES Act relief provisions for New York tax purposes. Continue Reading ›
New York Appellate Division Rejects Retroactive Application of Tax Law
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On December 26, 2019, the New York State Supreme Court Appellate Division issued a strong rebuke to retroactivity by holding that a law with a 97-day retroactivity period violated the taxpayer’s Due Process rights. Matter of Mackenzie Hughes LLP et al. v. New York State Tax Appeals Trib. The Supreme Court Appellate Division, Third Department—New York’s intermediate appellate court—held the taxpayer’s Due Process rights were violated because: 1) the retroactive application of the law did not serve a public purpose; 2) the taxpayer did not have adequate forewarning of the law change; and 3) the application of the law represented a 97-day retroactivity period.
Navigating Local Labyrinths: Practitioners’ Guide to Local Taxes
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In this article, Carley Roberts and co-authors discuss some of the more significant locally imposed taxes that could cause unexpected issues for businesses entering a new jurisdiction. They highlight Chicago Personal Property Lease Transaction Tax, San Francisco local taxes, New York City commercial rent tax, New Jersey local property tax, Jersey City payroll tax, New Jersey income tax credits, and Tennessee business tax.
To read the article, please click here.
TEI New York Chapter’s 56th Annual Tax Symposium
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Tax Executives Institute’s New York Chapter presents its 56th Annual Tax Symposium on December 12! The Symposium offers three concurrent technical tax sessions for Federal, State and Local and International Taxes with a wide range of important topics and great speakers. The State and Local Tax session will feature a New York Update Session with Michael Schmidt, New York State Commissioner – Department of Taxation and Finance and Deborah Liebman, Deputy Counsel, New York State DTF. In addition, acting Director, Division of Taxation, John Ficara will be joining for a New Jersey Tax Reform 2019 Edition discussion.
Pillsbury SALT partner Marc Simonetti will present “The State of State and Local Tax: Developments and Trends” as a part of the State and Local Tax session from 4:00pm-5:00pm ET.
For more information and to register, please visit the event page.
Pillsbury SALT recognized in U.S. News – Best Lawyers 2020 Best Law Firms Rankings
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Pillsbury has earned a total of 154 national and regional practice rankings in the latest U.S. News – Best Lawyers 2020 Best Law Firms survey.
The Tax team’s rankings include:
- National, Tier 1 in Litigation – Tax and Tax Law
- Miami, Tier 1 in Tax Law
- New York City, Tier 3 in Tax Law
- San Francisco, Tier 1 in Litigation – Tax and Tax Law
To view Pillsbury’s complete list of practice rankings, click here.
The U.S. News – Best Lawyers Best Law Firms rankings are based on a rigorous evaluation process that includes the collection of client and lawyer evaluations, peer review from leading attorneys in the field, and review of additional information provided by law firms as part of the formal submission process. To be eligible for a 2020 ranking, a law firm must have at least one lawyer recognized in the 25th Edition of The Best Lawyers in America list for that particular location and specialty.
NYS Tax Department: Changes to Sales Tax Collection Requirement for Marketplace Providers
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New York State increased the sales tax economic factor presence nexus threshold from $300,000 to $500,000. The change is retroactive to June 1, 2019. Accordingly, marketplace providers with no physical presence in the state are required to register and collect New York sales tax if the provider’s gross receipts from sales of tangible personal property in New York is equal to or exceeds $500,000 and facilitated more than 100 sales of tangible personal property delivered in the state. The sales are computed over the past four sales tax quarters. It’s not clear what prompted the state to increase the gross receipts threshold of the economic nexus standard—there are no other changes to the definition of marketplace provider, marketplace sellers or to any of the liability relief provisions. (For more information, access the recently issued marketplace provider guidance here, and the prior guidance here.)