Industry News

What to do if you actually win the $900M Mega Millions jackpot - New York Post

Wed, 10/17/2018 - 21:47

New York Post

What to do if you actually win the $900M Mega Millions jackpot
New York Post
Some big states, including California, don't withhold taxes from lottery winnings, and some like Texas don't have individual income taxes at all. For the others, the state takes a bite, especially in New York, where a winner would need to pay a state ...

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Co-Owner Of NY, NJ Pharmacies Charged With Tax Fraud - Law360

Wed, 10/17/2018 - 13:29

Co-Owner Of NY, NJ Pharmacies Charged With Tax Fraud
Law360
Law360 (October 17, 2018, 3:15 PM EDT) -- A co-owner of pharmacies in New Jersey and New York has been charged in a New Jersey federal court with falsifying tax returns to conceal more than $165,000 and conspiracy to defraud the government, ...

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Co-Owner Of NY, NJ Pharmacies Charged With Tax Fraud - Law360

Wed, 10/17/2018 - 13:20

Co-Owner Of NY, NJ Pharmacies Charged With Tax Fraud
Law360
Law360 (October 17, 2018, 3:15 PM EDT) -- A co-owner of pharmacies in New Jersey and New York has been charged in a New Jersey federal court with falsifying tax returns to conceal more than $165,000 and conspiracy to defraud the government, ...

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New York spent more in taxes than it got in federal funding - New York Post

Wed, 10/17/2018 - 12:48

New York Post

New York spent more in taxes than it got in federal funding
New York Post
New Yorkers delivered $24 billion more in tax payments to Washington than the state got back in federal spending, according to a new report. That means for every dollar New York taxpayers sent to the feds, only 90 cents came back in federal assistance ...
New York still sends much more in taxes to DC than it receives back in services, report showsNew York Daily News

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Stop selling tax liens against community charities - New York Daily News

Wed, 10/17/2018 - 12:01

New York Daily News

Stop selling tax liens against community charities
New York Daily News
Too many community charities are having their property sold out from under them — as a result of actions by the New York City Department of Finance. Created in 1996, the city lien sale takes tax, water and sewer debt owed to the City and converts it ...

Anti-Tax Fervor Closed Their Libraries. Now Residents Are Trying to Go It Alone. - New York Times

Wed, 10/17/2018 - 10:39

New York Times

Anti-Tax Fervor Closed Their Libraries. Now Residents Are Trying to Go It Alone.
New York Times
Low taxes and skepticism about government became part of the culture, and in Douglas County, a majority of voters in 2016 rejected a modest property tax increase to keep the 11 county libraries alive. Image ... CreditAmanda Lucier for The New York Times.

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No, Trump's Tax Cut Isn't Paying for Itself (at Least Not Yet) - New York Times

Wed, 10/17/2018 - 03:11

New York Times

No, Trump's Tax Cut Isn't Paying for Itself (at Least Not Yet)
New York Times
The Treasury Department released figures on Monday showing the federal budget deficit widened by 17 percent in the 2018 fiscal year, to $779 billion. That's an unusual jump for a year in which unemployment hit a five-decade low and the economy ...

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Mayer Brown Adds NY Tax Partner For Fund Practice - Law360

Tue, 10/16/2018 - 19:49

Law360

Mayer Brown Adds NY Tax Partner For Fund Practice
Law360
Pae received his law degree from Northwestern University and a master of laws in taxation from New York University. Pae is also co-chair of the tax division of the Asian American Bar Association of New York, a role he takes very seriously because he ...

Mayer Brown Adds NY Tax Partner For Fund Practice - Law360

Tue, 10/16/2018 - 19:21

Law360

Mayer Brown Adds NY Tax Partner For Fund Practice
Law360
Pae received his law degree from Northwestern University and a master of laws in taxation from New York University. Pae is also co-chair of the tax division of the Asian American Bar Association of New York, a role he takes very seriously because he ...

NY Attys Recommend Refunding Transition Tax Overpayments - Law360

Tue, 10/16/2018 - 18:49

NY Attys Recommend Refunding Transition Tax Overpayments
Law360
Law360 (October 16, 2018, 7:50 PM EDT) -- The New York State Bar Association Tax Section, in a letter to the U.S. Department of the Treasury released Tuesday, said companies should receive refunds in some cases if they submit payments in excess of the ...

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NY Tribunal Grants Rating Agency $1.4M Sales Tax Refund - Law360

Tue, 10/16/2018 - 16:44

NY Tribunal Grants Rating Agency $1.4M Sales Tax Refund
Law360
Law360 (October 16, 2018, 5:29 PM EDT) -- The New York Tax Appeals Tribunal has granted a securities rating agency's $1.4 million sales tax appeal, finding the company had made the tax payments out of its own pocket and did not need to issue customer ...

With a House Takeover, Democrats Could Get Trump's Tax Returns. Would They? - New York Times

Tue, 10/16/2018 - 13:14

New York Times

With a House Takeover, Democrats Could Get Trump's Tax Returns. Would They?
New York Times
Details of only two of Mr. Trump's personal tax returns have become public. The New York Times reported in October 2016 that Mr. Trump declared a $916 million loss on his 1995 income tax returns, a loss so steep he could have legally avoided paying ...

Greenspoon Marder Adds Atty For NY Cannabis Tax Practice - Law360

Tue, 10/16/2018 - 12:34

Law360

Greenspoon Marder Adds Atty For NY Cannabis Tax Practice
Law360
Mann has advised financial institutions on international tax, structuring renewable energy asset-based bank loans and securitizations, cross-border tax-advantaged partnerships and securitizations, project finance and renewable energy deals, according ...

When the Wealthy Pay Zilch in Income Taxes - New York Times

Tue, 10/16/2018 - 11:30

New York Times

When the Wealthy Pay Zilch in Income Taxes
New York Times
My knowledge of tax laws, as a former investment manager of institutional funds and trusts, confirms that the Kushners did nothing underhanded, despite what this article insinuates. They only followed our tax code as thousands of other large and small ...

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Property taxes in Campbell could increase if fire district budget passes - MyTwinTiers.com

Tue, 10/16/2018 - 06:02

MyTwinTiers.com

Property taxes in Campbell could increase if fire district budget passes
MyTwinTiers.com
CAMPBELL, N.Y. (18 NEWS) - Residents in the Town of Campbell may soon see an increase in property taxes, due to an increase in the proposed fire department operating budget. The fire commissioner is looking to enact an 84% increase. The Campbell ...

Google News

Another tax hike could be coming to West Seneca - WKBW-TV

Mon, 10/15/2018 - 21:26

WKBW-TV

Another tax hike could be coming to West Seneca
WKBW-TV
WEST SENECA, N.Y. (WKBW) - For the second year in a row West Seneca is looking to raise the ad valorem tax. Last year the tax was raised 8.6%, and this year, they are looking to raise it 3.95%. Raising the taxes is something many were not happy with.
Another proposed tax increase for West SenecaWGRZ.com

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NY Bar Group Urges Guidance To Help Cos. Avoid Double Tax - Law360

Mon, 10/15/2018 - 20:20

NY Bar Group Urges Guidance To Help Cos. Avoid Double Tax
Law360
Law360 (October 15, 2018, 6:08 PM EDT) -- Guidance for “previously taxed income” — foreign income already taxed by the Internal Revenue Service before it is brought home — should clarify how U.S. companies can avoid double taxation, according to a ...

NY Court OKs Fed. Settlement On Tax Dodger's $300M Liability - Law360

Mon, 10/15/2018 - 20:20

NY Court OKs Fed. Settlement On Tax Dodger's $300M Liability
Law360
Law360 (October 15, 2018, 9:14 PM EDT) -- A New York federal court has approved the U.S. government's settlement over more than $300 million in taxes owed by a convicted tax dodger, while signing off on the distribution of assets from his mother's estate.

Marc Molinaro Wants to Axe NY's Current Approach to Taxes. Here's How. - NY1

Mon, 10/15/2018 - 19:26

NY1

Marc Molinaro Wants to Axe NY's Current Approach to Taxes. Here's How.
NY1
From the time he won the Republican nomination for the governor's race, Marc Molinaro has been banging the same drum: High taxes, he says, are strangling the state's economy. "New Yorkers will keep significantly more money in their paychecks when I'm ...

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Marc Molinaro Wants to Axe NY's Current Approach to Taxes. Here's How. - NY1

Mon, 10/15/2018 - 19:26

NY1

Marc Molinaro Wants to Axe NY's Current Approach to Taxes. Here's How.
NY1
From the time he won the Republican nomination for the governor's race, Marc Molinaro has been banging the same drum: High taxes, he says, are strangling the state's economy. "New Yorkers will keep significantly more money in their paychecks when I'm ...

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