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NYS and NYC Issue Guidance on inclusion of irc § 965 deemed repatriation income for taxpayers other than C corporations

USA - May 4 2018 The New York State and New York City Tax Departments have each issued pronouncements on the effects of IRC § 965 deemed repatriation income for…

Furniture included in hotel sale subject to sales tax as a bulk sale

USA - October 2 2012 A recent decision by a New York State Administrative Law Judge illustrates some of the important sales tax issues that should be considered by a business entering into a contract to sell New York real property under which tangible personal property is also conveyed.

New York real property owned by a partnership not includible in decedent’s New York estate

USA - December 5 2011 The Department of Taxation and Finance has ruled that a nonresident decedent’s interest in a revocable trust that held an interest in a partnership that held New York State real property was not includible in the decedent’s New York gross estate.

Non-profit’s 99-year lease insufficient for property tax exemption

USA - March 1 2011 The Appellate Division, Second Department, affirming a New York City Tax Commission decision, has held that a not-for-profit organization with a 99-year lease on real property is not eligible for the property tax exemption available to non-profits under Real Property Tax Law ("RPTL") § 420-a.

ALJ Holds NYS Real Estate Transfer Tax Cannot Be Imposed on Sale of 45% Membership Interest in LLC

USA - July 6 2016 In an issue of first impression under the New York State real estate transfer tax, a New York State Administrative Law Judge has held that the…