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September 21, 2020
2020-2283

Tuesday, October 20 | State & local tax developments in the real estate industry (1 pm ET)

Responses to COVID-19-related issues and state legislative updates

The COVID-19 global pandemic has significantly affected the real estate, hospitality and construction industry, and has resulted in a number of state and local tax (SALT) developments. While the recent Coronavirus Aid, Relief, and Economic Security (CARES) Act legislation offered much relief to the industry from a US federal income tax perspective, many state and local jurisdictions have decoupled from such measures. The widespread movement of the workforce a result of the pandemic also brought to the forefront new state and local tax implications to consider. Projected state revenue losses due to the pandemic are massive, and states have enacted or introduced a number of tax proposals aimed to raise revenues.

Join a panel of experienced SALT professionals from Ernst & Young LLP for a discussion of topics, including:

  • State responses to the COVID-19 pandemic
  • State income tax conformity to the CARES Act
  • Remote workforce issues, including wage withholding, business tax and individual income tax
  • Recent SALT legislation and proposals, including California's "split roll" property tax initiative, New York's proposed recordation tax on mezzanine debt and preferred equity, realty transfer tax increases and more

Date: Tuesday, 20 October 2020

Time: 1:00-2:00 p.m. EDT New York; 10:00-11:00 a.m. PDT Los Angeles

Registration: View archive here.

Panelists

Michele J. Randall, Partner, State & Local Tax, Ernst & Young LLP

Dale Y. Kim, Partner, State & Local Tax, Ernst & Young LLP

Stuti Grover, Senior Manager, State & Local Tax, Ernst & Young LLP

Douglas J. Upton, Senior Manager, State & Local Tax, Ernst & Young LLP

CPE credit offered: 1.2. Recommended field of study: Taxes. Learning objective: Describe the latest state and local tax updates affecting real estate industry participants and how the changes may impact businesses and investors. This intermediate level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

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The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

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