Good Morning All
I was reading the instructions for the 2022 IT-558-I NYS Adjustments due to Decoupling from the IRC with regard to the 50% meals add back on the partnership return. The instructions are a little confusing with regard to the add back for the 2022 tax year. Any opinions would be greatly appreciated.
For tax years beginning before January 1, 2022, the 2020-2021
New York State budget (Part WWW of Chapter 58 of the Laws
of 2020) decoupled personal income tax from any amendments
made to the Internal Revenue Code (IRC) after March 1, 2020.
This includes changes made by the federal Coronavirus Aid,
Relief, and Economic Security (CARES) Act and any other
federal changes to the IRC. Therefore, any amendments made
to the IRC after March 1, 2020, will not apply to New York State
or New York City personal income tax.
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Frederick I. Kleet, CPA
Hall CPA Group
277 Indian Head Rd
Kings Park, NY 11754
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