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Florida's Governor, Ron DeSantis, took significant action on May 31, 2023, by signing H.B. 5, a comprehensive bill designed to dismantle several tax credit programs that were previously benefiting various aspects of Florida's business landscape. The bill's primary...
New Jersey Assembly Bill 5232 enacted on July 3, 2023 contains significant tax changes to Corporation Business Tax (CBT) and Gross Income Tax (GIT). New Jersey Division of Taxation has issued TB-107 to provide guidance on the amendments. Here are some of the major...
The Internal Revenue Service (IRS) recently unveiled proposed regulations aimed at establishing clear procedures and rules for eligible taxpayers to transfer or sell clean energy tax credits under the Inflation Reduction Act of 2022. The proposed regulations introduce...
The IRS introduced Schedule K-2 and K-3 with the 2021 tax filing year. The forms were designed to provide more information to taxpayers about reporting foreign activities and more specifically to provide the taxpayer with more detailed information to correctly...
Why New York’s Convenience of the Employer Rule May Put a Damper on Your Plan to Work Remotely, and Avoid New York State Income Tax Thanks to the rise in remote work since the start of the COVID-19 pandemic, many people who previously commuted to work in New York are...