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August 17, 2023
2023-1415

Wednesday, August 30 | Insights into New York's proposed Article 9-A corporate franchise tax regulations (1 pm ET)

On 9 August 2023, the New York State (NYS) Department of Taxation and Finance issued proposed Article 9-A corporate franchise tax reform regulations and Article 33 insurance corporation franchise tax regulations that cover a wide range of issues and may impact NYS taxpayers in various industries. The guidance is the culmination of more than eight years of drafts, redrafts and input from taxpayers, industry groups and practitioners. The proposed regulations would implement comprehensive franchise tax reform for corporations, banks and insurance companies that was enacted in 2014, with technical and conforming amendments enacted in 2015 and 2016.

Topics that will be covered during the webcast include:

  • Imposition of tax (nexus) and protected/unprotected activities under PL 86-272
  • Apportionment
  • Computation of tax
  • Combined unitary reporting
  • Qualified NYS manufacturers
  • Financial services industry-specific provisions

Panelists also will discuss the regulation finalization process and deadlines for submitting comments, as well as other actions taxpayers may want to consider before the proposed regulations become final.

Please join us for this 75-minute, interactive webcast. We welcome and encourage you to ask questions.

Date: Wednesday, 30 August 2023

Time: 1:00-2:15 p.m. ET New York; 10:00-11:15 a.m. PT Los Angeles

Registration: View archive here.

Panelists

Zal Kumar, Indirect, State and Local Tax, Ernst & Young LLP, New York, NY

Matthew Musano, Indirect, State and Local Tax, Ernst & Young LLP, New York, NY

David Schmutter, Indirect, State and Local Tax, Ernst & Young LLP, New York, NY

Moderator

Karen Ryan, Indirect, State and Local Tax, Ernst & Young LLP, New York, NY

CPE credit offered: up to 1.4 depending on actual duration. Recommended field of study: Taxes. Learning objectives: Identify the key aspects of New York's proposed regulations that will implement previously enacted comprehensive franchise tax reform and are of interest to both US and global businesses. Explain the regulation process and key deadlines. Describe the industries that will be impacted by the proposed regulations. 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.

EY webcast managed and produced by Ernst & Young LLP's Tax Technical Knowledge Services Group, Washington, DC: Lynn Fairfax | lynn.fairfax@ey.com and Barbara Kirchheimer | Barbara.Kirchheimer@ey.com

Learn about and register for EY Tax webcasts

You can learn about and register for any EY Tax webcast here.

 

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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