Title: New York’s 2021-2022 Budget Bill and its Response to Recent Federal Tax Legislation
Date: Wednesday, July 21, 2021
Time: 8:30 AM - 10:30 AM (ET)
Speakers: Mark S. Klein, Esq. & Joseph N. Endres, Esq.
COST: Members: $50 / Non-Members $100
2 CPE TAX
This seminar will cover the latest developments in New York State’s 2020-2021 budget bill, including NY’s response to TCJA and the CARES Act. We will discuss the new SALT cap workaround, while also highlighting new decisions, rulings, and administrative releases affecting New York’s personal income, sales, and corporate taxes. We’ll also focus on some common misconceptions about residency and wage allocation for people who fled NY during the pandemic. Finally, we will review various tax incentive programs, as well as recent changes in New York’s abandoned property law and enforcement.
Learning Objectives:
- To understand the application and impact of New York’s new budget legislation
- To understand the mechanics and recognize the value of the new flow-through entity tax to avoid the federal tax law SALT limitation of $10,000.
- To recognize what it takes to get a state to accept a taxpayer’s change of residence.
- To appreciate the impact of state taxes on remote workers
- To identify certain traps for the unwary
DISCLAIMER: This program is issuing CPE credit under the CE License of the Educational Foundation of the Nassau/Suffolk Chapter of NCCPAP licensed as a CE provider in New York & New Jersey. If you have a CPA license from another state, please be advised that this CPE may not be accepted by your home state Board of Accountancy/Department of Education. Therefore, please check with your home state Board of Accountancy/ Department of Education as to their policies on acceptance of credit from an out of state CE provider.
New York State License Number: 000216
New Jersey License Number: CE0046700
For a complete copy of Educational Foundation of N/S NCCPAP education program policies including refund policy and complaint resolution policy, contact Kathy Casey at 516-997-9500 or e-mail kcasey@ns-nccpap.org.
Program Pre-requisite: None Program Level: Intermediate
Advanced Preparation:None Type of Delivery: Group Internet Based