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Articles by Joseph Tantillo
An Empire Zone Case Strikes Back: Appellate Division Reverses Long-Time Tax Department Policy | JD Supra
A couple weeks ago, the Third Department of the New York Supreme Court, Appellate Division issued its decision in Matter of Schreiber, reversing a prior decision of the Tax Appeals Tribunal, finding that its interpretation of Tax Law § 16(f)(2)(C) and Matter of Purcell, both related to the calculation of qualified empire zone enterprise (QEZE) tax reduction credits, was irrational.
Washington State Capital Gains Tax Upheld by State Supreme Court as Constitutional | JD Supra
In an unfortunate blow to Taxpayers, the Washington State Supreme Court ruled 7-2 on Friday, March 24, 2023, to uphold the constitutionality of the state’s capital gain tax. The ruling comes as a sharp reversal of a lower court decision striking down the tax as unconstitutional, which we reported on here.
Tax Provisions of Interest in the Proposed 2023-24 Budget Bill | JD Supra
Here are some highlights from the New York State Legislature’s proposed Revenue portions of the State’s 2023-24 Budget (Assembly Bill 3009/Senate Bill 4009)(the “Budget”).
A Blue Wave of High Tax Rates? | JD Supra
As residents and SALT practitioners in New York, we see firsthand how high income tax rates drive the personal decision making of taxpayers as well as enforcement efforts by tax departments. On the taxpayer side, we’ve seen tangible (albeit anecdotal) evidence that taxpayers will make decisions on where to work or live based on their taxes.
Washington State Capital Gains Tax Struck Down by Judge As Unconstitutional | JD Supra
On Tuesday, March 1, 2022, Washington State Superior Court Judge Brian Huber released a ruling striking down the state’s new capital gains tax. The law—signed by Governor Jay Inslee last May—imposes a 7% tax on the sale of stocks, bonds, and other assets above $250,000. When signed, Washington became the first state in the country with no income tax to impose a tax on capital gains.
New Audit Guidelines in New York: A Change to the 11-Month Rule | JD Supra
Recently, the New York State Department of Taxation & Finance released new nonresident audit guidelines, without any announcement or fanfare. Being the first official update to the guidelines since 2014, we were excited to crack them open! But, alas, our hopes were soon dashed; the changes to the guidelines turned out to be mostly minor. However, there is one change that is worthy of attention and further discussion.
To Give Or Not To Give, That Is The Question: New York State’s Rules on Charitable Giving and Domicile Determination | JD Supra
Recently, we’ve witnessed a mass exodus from New York State as a result of the COVID-19 pandemic. Some movers yearn for warmer weather, others for more reasonable Covid policies, and others simply seek a home-state that won’t tax their personal income.
States Suffer Another Loss in the SALT Cap Litigation | JD Supra
On October 5, 2021, the Second Circuit Court of Appeals declared that the federal $10,000 SALT deduction cap is constitutional. The long-awaited ruling affirms a decision by U.S. District Court Judge J. Paul Oetken, which we covered here. The SALT deduction was first capped at $10,000 as part of former President Trump’s Tax Cuts and Jobs Act of 2017 (TCJA). The outcome is disappointing for the states, but perhaps not surprising.
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