Gain a better understanding of the combined reporting of state income taxes in New York.
This topic will provide corporate tax professionals with a thorough and practical guide to New York combined reporting. The panelist will provide an overview of New York’s prior and current law, determining the combined group and computing the tax. After this topic, you will be able to navigate New York’s complicated combined reporting rules.
Effective January 1, 2015, New York implemented a unitary combined reporting regime. Since New York does not provide a statutory definition of a unitary business group, a critical part of combined reporting in New York will be applying the unitary business principle. This is a constitutional concept that looks at the business as a whole rather than individual separate entities or separate geographic locations. This material will focus on some of the factors that New York will look at to determine a unitary business.
Calculating combined income is considerably more complicated than determining consolidated federal taxable income. Learn how to compute New York’s combined capital and combined business income bases, as well as understand how to address combined filing by corporations with different tax years.
This information is critical to those who are required to keep up on New York’s combined reporting rules.
Agenda
Faculty
Debra S. Herman
Hodgson Russ LLP
- Partner, Hodgson Russ LLP, New York, N.Y.
- Practice spans most tax matters, but focuses primarily on New York State, New York City and multistate tax issues, working with clients from both a planning and an audit and controversy viewpoint and on complex transactions
- Extensive experience counseling clients with respect to corporate income tax, unincorporated business tax, flow-through entity income taxation, sales and use taxes, and excise taxes on real property transfers
- Widely recognized for experience in state and local taxation and is a nationally recognized author on state tax topics; co-wrote the BNA Portfolio “New York Sales and Use Taxes” and a bi-monthly article on New York State and New York City taxation in the New York Law Journal and writes a monthly column in the Journal of Multistate Taxation and Incentives on state and local tax matters before the U.S. Supreme Court
- Currently a Vice Chair of the American Bar Association Section of Taxation’s State and Local Tax Committee, Executive Board; former Chair of the New York City Bar State and Local Tax Committee
- J.D degree, American University Washington College of Law; LL.M. degree, New York University School of Law; B.A. degree, University of Madison
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