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The Department of Taxation and Finance has issued an Advisory Opinion concluding that interest on a personal income tax refund resulting from the carryback of a net operating loss, if not refunded to a taxpayer within 45 days of the claim for refund, should be computed from the original due date of the loss year return, without regard to extensions of time to file
Effective July 24, 2011, New York State enacted the Marriage Equality Act (the “Act”), providing that all marriages, whether of same-sex or different-sex couples, will be treated equally under all New York State laws
A New York State Administrative Law Judge has held that a taxpayer cannot claim trade or business losses for embezzled funds that she repaid, and could not receive the benefits of loss carryback provisions
