Tag: state taxation

Form IT 2663

New York’s Form IT-2663

Here on our blog at MC&C, we’ve come up with a variety of ways to educate our readers and create value. One such way is the discussion of various tax concepts. Aside from this, another way is shedding light on the many different aspects of taxation here in New York State. One thing we haven’t […]


Why Maine’s Budget Matters

Here at MC&C, we tend to focus quite a bit on the matters taking place in New York State. But that doesn’t mean that we don’t occasionally pay attention to what’s going on elsewhere. We’ve looked at how other states view Sec. 1031 exchanges, for instance. We’ve also covered budget issues faced by other states. […]

New York trust taxation

New York Trust Taxation

New York State income taxation of trusts can be a tricky subject. There are many pieces of information to take in. A trust is taxed at the federal level. But trusts are also subject to tax in the State of New York. Tax planning for trusts in New York requires a highly sophisticated analysis. There […]

NYS sales tax audits

How to Prevent NYS Sales Tax Audits

Sales taxes are one of the most common forms of transactional taxes. Almost all the states in these United States impose statewide sales taxes on business transactions. There are some notable exceptions, however. Oregon, for instance, famously does not impose a statewide sales tax. If you walk into a hardware store in Portland, Oregon, and […]

Recent Sales Tax Scandals

In our blog, we’ve spent a fair amount of time discussing tax and financial scandals which have made major headlines. For instance, we’ve discussed the bankruptcies and tax problems faced by prominent celebrities. We’ve also examined insider trading cases. These kinds of stories are very useful for many reasons. For one, these stories show how […]

State Law & 1031 Facilitators

In the past, we’ve touched on various issues related to state taxation of 1031 exchanges. For instance, in our post on New York State, we mentioned the requirements which pertain to state tax withholding, tax forms, and the layers of tax which can apply. We’ve also discussed the unique case of Pennsylvania. As you may recall, […]

Sales Tax Audit

NY Sales Tax Audit Terms

In a recent post, we discussed the sales tax audit procedure here in the State of New York. As we saw, the NY sales tax audit process is complex. If you find yourself saddled with an audit, you will almost certainly need to obtain a qualified tax attorney. Navigating the audit process by yourself is […]

Pennsylvania 1031

Pennsylvania’s Odd Sec. 1031 Treatment

IRC Section 1031 applies to federal income taxation of capital gains. This means that an investor’s federal capital gains receive deferral treatment regardless of where he or she resides. However, the nonrecognition treatment of Section 1031 doesn’t necessarily apply to state taxation. We’ve discussed this on our blog before: state taxation is an additional layer […]

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