New York state will stop basing its capital gains tax on federal government regulations if President Donald Trump follows through on his proposed unilateral change in how the levy is determined, Governor Andrew Cuomo said.
The U.S. Supreme Court’s decision will have far-reaching implications for domestic companies, unless states and policy makers act to reduce the compliance burden.
Among the wealthy tri-state area set, there’s more buzz than ever about fleeing south to Florida, land of mild winters and, more importantly after last year’s federal tax overhaul, zero state personal income tax.
New York Governor Andrew Cuomo’s administration is investigating whether President Donald Trump’s charitable foundation violated state tax laws, said a person familiar with the probe.
Four Democratic-led northeastern states sued the Trump administration to invalidate the new $10,000 cap on the federal tax deduction for state and local taxes.
More than 75 percent of CPAs in New Jersey say the Garden State’s recently enacted budget would have a negative impact on the economy, according to a new survey by the New Jersey Society of CPAs.
