Tag: corporate taxation

Dividends and Distributions

Dividends and Distributions 

As dedicated tax and business attorneys here at Mackay, Caswell & Callahan, we know that it’s important that we gain and maintain a firm command over certain financial concepts.  Doing so allows us to best serve our clients. In many cases, this isn’t an easy task.  That’s because many concepts in tax, business and finance are […]

New York corporate tax

The New York Corporate Tax Structure

The one word which best describes the New York corporate tax structure, is the word “layered”. We’ve actually used that word plenty of times before.  We use it to discuss the sales tax system in New York, for instance.  And that’sis for good reason.  Throughout the nation, and particularly within New York individuals and businesses are subject to […]

Various Section 368 reorganizations

Various Section 368 Reorganizations

In our previous post on corporate reorganizations under IRC Section 368, we mentioned that corporations can select between several variations of  Sec. 368 reorganizations. Whether a corporation elects one variation over another depends on the specific circumstances involved. There can be many reasons as to why one variation may be more advantageous in a given situation, and an optimal decision requires a […]


Sec. 368 Reorganization Taxation

Internal Revenue Code (IRC) Section 368 allows merger and acquisition transactions to qualify as a reorganization when an acquiring corporation gives a substantial amount of its own stock as consideration to the acquired (or “target”) corporation. Section 368 has several conditions which must be satisfied in order for a transaction to qualify as a “reorganization;” just as with partial […]

Withhold Payroll Taxes

What If Employers Don’t Withhold Payroll Taxes?

As an employer, you have a legal responsibility to withhold payroll taxes and pay those taxes to the IRS when due. Even if you use a payroll service, you still have a responsibility to see that this is done. If you do not withhold payroll taxes and pay them correctly and in a timely manner, […]

LLC taxed as a corporation

Benefits of Having a LLC Taxed as a Corporation

Registering your business as a limited liability corporation (LLC) offers you a lot of flexibility at tax time. You may choose to have your LLC taxed as a partnership, a sole proprietorship, or as a corporation. By default, LLCs are taxed as either a single-member LLC or a multiple-member LLC, but many LLCs are choosing […]

Need a Tax ID

When Does a Business Need a Tax ID?

[social_warfare buttons=”Total”]An Employer Identification Number (EIN) or otherwise called a taxpayer ID or tax ID number, is a requirement for most businesses. This is the number that the IRS will use to identify your business and its tax obligations. Here’s what you should know if you are trying to determine whether or not you need […]

As seen on

Client reviews

How can I help you?

You can contact us using this form day or night, 24 hours a day, 7 days a week, 365 days a year. You will hear back from one of our attorneys the same day or next day.

    If you would like to speak with a team member immediately, we are available 24/7 via this form — or via phone toll-free from 6am – 8pm EST M-F at: 844 - MCC - 4TAX

    schedule an appointment with us

    Call Toll Free
    844 - MCC - 4TAX
    send a message
    Contact Us
    send a message
    Contact Us