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Note from the Editors
Welcome to the September 2023 edition of The BR State + Local Tax Spotlight. We know the importance of remaining up-to-date on State + Local Tax developments, which appear often and across numerous jurisdictions. Staying informed on significant legislative developments and judicial decisions helps tax departments function more efficiently, along with improving strategy as well as planning. That is where The BR State + Local Tax Spotlight can help. In each edition, we will highlight important State + Local Tax developments that could impact your business.
We invite you to share The BR State + Local Tax Spotlight with your colleagues and visit Blank Rome’s State + Local Tax webpage for more information about our team. Click here to add State + Local Tax to your subscription preferences.
Joshua M. Sivin and Melanie L. Lee
ARTICLES
New York State Formally Proposes Regulations Implementing 2014 Corporate Tax Reform
By Kara M. Kraman
On August 9, 2023, the New York State Department of Taxation and Finance (the “Department”) formally proposed Business Corporation Franchise Tax Regulations under the State Administrative Procedure Act (“SAPA”). Read More >>
New Jersey Still Wrestles with Unity, but Don’t Forget the Rules
By Mitchell A. Newmark
As the New Jersey Division of Taxation changes leadership and issues guidance regarding legislative changes, including for unity, it is time to recall some fundamentals of unity and put the unity statute change in context. Read More >>
California Administrative Tribunal Upholds Special Industry Apportionment Formula for Mutual Fund Service Provider
By Irwin M. Slomka
An investment management company subject to California corporate franchise tax was required to source its receipts from the provision of management, administrative, and distribution services furnished to mutual funds based on the locations of the mutual fund shareholders and could not source the receipts using the California market-based sourcing statute. Read More >>
WHAT’S SHAKING: BLANK ROME STATE + LOCAL TAX ROUNDUP
Blank Rome’s nationally prominent State + Local Tax attorneys are thought leaders in the community as frequent guest speakers at various local and national conferences throughout the year. We invite you to attend, listen, and learn as our experienced State + Local Tax attorneys interpret and discuss key legal issues companies are facing and how you can put together a plan of action to mitigate risk and advance your business in accordance with state and local tax laws. Read More >>
