MoFo New York Tax Insights

Volume 9, Issue 9

11 Sep 2018

Welcome to the latest issue of New York Tax Insights. In this issue we cover:

  • an Appellate Court reversal of a Tribunal decision that had denied QEZE credits because the real estate taxes were paid to a bank’s mortgage escrow account rather than straight to the taxing authority (on page 1);
  • an ALJ decision holding that estimated sales tax exemption amounts do, in fact, constitute a cap on the sales tax exemption benefits allowed to the designated agent of an industrial development agency (on page 2);
  • newly released guidance concerning the New York State treatment of Section 965 repatriation amounts under the Federal Tax Cuts and Jobs Act of 2017 for C corporations and flow-through entities (on page 4);
  • a New York County Supreme Court decision holding that, if a taxing authority seeks to revoke a previously granted property tax exemption, it must bear the burden of demonstrating the exemption is no longer valid and must address the use to which the property has been put (on page 5);
  • and more (on page 6).

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