Cox Padmore Skolnik & Shakarchy LLP remains ready to serve you during the COVID-19 pandemic. We are prepared to provide you with continuous legal service and uninterrupted communication. We are also monitoring the legal impact of COVID-19 and we are available to discuss any questions you may have regarding the CARES Act, insurance coverage issues, including business Interruption insurance, or other issues. Please see below for a list of our practice areas. You may contact us by the usual means of telephone and email, which is encouraged at this time. We will promptly respond. Video conferencing is also available. In all, our firm remains committed to assisting you throughout this evolving period of legal, business, and safety concerns.
Cox Padmore Skolnik & Shakarchy LLP remains ready to serve you during the COVID-19 pandemic. We are prepared to provide you with continuous legal service and uninterrupted communication. We are also monitoring the legal impact of COVID-19 and we are available to discuss any questions you may have regarding the CARES Act, insurance coverage issues, including business Interruption insurance, or other issues. Please see below for a list of our practice areas. You may contact us by the usual means of telephone and email, which is encouraged at this time. We will promptly respond. Video conferencing is also available. In all, our firm remains committed to assisting you throughout this evolving period of legal, business, and safety concerns.

CALL US TODAY: 646-355-1648

Innovative Solutions To Complex Legal Concerns
  1. Home
  2.  | 
  3. Corporate & Business Tax
  4.  | New York corporate tax reform and considerations

New York corporate tax reform and considerations

| Jun 10, 2015 | Corporate & Business Tax

The attorneys at the law offices of Cox, Padmore,Skolnik & Shakarchy, L.L.P., are well-versed in New York state and federal business tax guidelines, and understand the financial stakes involved in smart tax planning. No matter if you are a startup business or major corporation, your current earnings as well as earning potential can be affected by a number of tax considerations. That is why it is so important to always recognize and implement up-to-date taxation policies and procedures.

Despite the fact that it may seem as though changes to IRS tax guidelines move at a glacial pace, the truth of the matter is that the state of New York recently experienced major corporate tax reform. According to the state’s Department of Taxation and Finance, changes to the New York corporate tax system went into effect at the beginning of this year and represent the most significant reforms in more than 60 years. In addition to implementing a number of corporate tax cuts, the recent reforms also modify the tax code and clarify some areas of confusion and dispute for taxpayers.

In addition to understanding whether and how recent changes to the state tax system impact large and small businesses alike, it is also important to consider how tax issues can affect everyday dealings. For instance, achieving nonprofit organization status could make you eligible for federal tax exemptions and other benefits. Similarly, the structuring of business transactions like mergers and acquisitions should always account for factors like corporate sales tax. In cases involving startups and small businesses, it is also generally recommended that you consider how your business investments and operations will be addressed in your estate planning arrangements.

Of course, there are a large number of other business-related topics that can come up when dealing with state taxes and tax guidelines. Learn more about business tax structuring and other related subjects by visiting our web page today.

Archives