MEDIA/PRESS

SALT TALK: NYC Unincorporated Business Tax - Impact of Telecommuting on Allocation of Income from Taxable Services

Posted by Wayne K. Berkowitz CPA, J.D., LL.M. on Aug 3, 2020 11:40:00 AM

Service businesses subject to the NYC Unincorporated Business Tax may see a significant reduction in their 2020 UBT liability due to employees and agents working from home outside of New York City. My colleague, Richard Goldstein provides the details here.

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SALT TALK: Eyes on the Mega Millions Jackpot? Better Read this First

Posted by Wayne K. Berkowitz CPA, J.D., LL.M. on Jul 20, 2020 11:40:00 AM

State tax planning and the lottery; what does that have to do with me? I buy a ticket, I win, I pay my federal and resident state tax, and I still walk away with a large sum of money, right? Well, yes, but if some states have their way, maybe a little less. If you thought the pandemic was causing odd withholding results, the lottery has been causing problems for some time.

Readers of my blog are well aware of the situation where one can be a dual resident and taxed twice on intangible income. Generally, a nonresident state where you may earn income, taxes you on the income attributable to that state. Your resident state taxes you on worldwide income, which includes the income sourced to the nonresident state and provides a credit for the tax paid to the nonresident state. However, a dual resident with income earned that is not attributable to any state (generally interest and dividends) can end up paying state tax twice since neither “resident” state will provide a credit.

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SALT TALK: NYC Council Approves Bill to Reduce Interest Rate for Late Payments of Certain Property Tax Payments Due July 1, 2020

Posted by Wayne K. Berkowitz CPA, J.D., LL.M. on Jun 29, 2020 11:40:00 AM

On June 25, 2020, the New York City (NYC) Council approved a bill to reduce the interest rate for late payments of certain NYC real estate taxes due on July 1, 2020. The Mayor is expected to sign the bill, which would subject certain properties to a lower interest rate for late payment if paid by October 15, 2020.

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SALT TALK: State Tax Auditors – They’re People Too

Posted by Wayne K. Berkowitz CPA, J.D., LL.M. on Jun 8, 2020 11:40:00 AM

We can all agree that this pandemic has gone on quite long enough and, for some, it has been particularly difficult and quite a strain. People are trying to do their jobs often under difficult circumstances. For example:

My office phone rings. Glancing over at the caller id, I can see it is one of the many state tax departments calling me. As I’m not trying to avoid any auditors at the moment, I decide to answer the call.

Mr. Berkowitz, I’m Mr. X from the State of Y Department of Revenue. I see you are going to be representing ABC LLC in their upcoming audit. There is a problem with the Power of Attorney authorizing you to represent ABC. The period you indicated on the Power doesn’t coincide with the audit period.

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SALT TALK: Quarantine and the Accidental State and Local Tax Resident

Posted by Wayne K. Berkowitz CPA, J.D., LL.M. on May 26, 2020 11:44:38 AM

Among the many unexpected results of the COVID-19 crisis is the possibility that you may inadvertently acquire a new state and/or local income tax resident status.This occurs because many states and cities (including New York State, New York City, New Jersey and Connecticut) determine tax resident status, in part, based on the number of days a person is present in the state or city. My colleague, Richard Goldstein, explains how this may happen in one of our recent Clients Alerts.

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SALT TALK: Terminating Your NYC Domicile and Establishing a NYS Only Domicile

Posted by Wayne K. Berkowitz CPA, J.D., LL.M. on May 19, 2020 12:31:48 PM

As my readers know, domicile is generally defined as the place that you intend to be your permanent home – the place to which you return whenever absent. For those who want to change from a New York City to a New York State domicile, NY law requires that you prove by clear and convincing evidence that you have abandoned your NYC domicile and established a new domicile elsewhere.

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SALT TALK: State Nexus Implications of Telecommuting due to the COVID-19 Pandemic

Posted by Wayne K. Berkowitz CPA, J.D., LL.M. on Apr 27, 2020 11:40:00 AM

With millions following government-imposed stay at home directives, my colleague Sarah Kim looks at the state tax nexus implications and what guidance is being issued by state taxing authorities.

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SALT TALK: The COVID-19 Pandemic’s Impact on Residency and Taxes (VIDEO)

Posted by Wayne K. Berkowitz CPA, J.D., LL.M. on Apr 20, 2020 11:44:47 AM

Wayne Berkowitz and colleague Richard Goldstein examine the impact of the COVID-19 crisis on state residency issues and an employer’s state tax obligations.Click here to view the videos.

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SALT TALK: Update on New Jersey Income Tax Extensions

Posted by Wayne K. Berkowitz CPA, J.D., LL.M. on Apr 6, 2020 11:40:00 AM

For some insights on the Garden State’s plans to postpone the state Individual Gross Income Tax filing and payment deadline and the Corporation Business Tax filing and payment deadline, click here.

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SALT TALK: COVID-19 State Tax Pronouncements – Many and Varied

Posted by Wayne K. Berkowitz CPA, J.D., LL.M. on Mar 30, 2020 2:52:21 PM

As states continue to scramble to provide tax guidance during the COVID-19 crisis, decisions are coming in fast. Here is a roundup for the tri-state area and around the nation which we will continue to revise as the updates are released.

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