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Thursday, May 20, 2021 Live Webcast

Taxes Are Going Up: NYS 2021-2022 Budget Update Webcast (E2105264)

10:00 AM - 12:00 PM EDT
webcast

Vendor Platform

2 CPE Credits in TX

OVERVIEW

On April 7, 2021, the Legislature passed and sent to the Governor the bills constituting the 2021-22 budget legislation (the "Budget"). New York's lawmakers had exhibited considerable restraint in the recent past, generally keeping spending increases—and thus revenue increases—at about the level of inflation. But pent-up spending demand, the COVID pandemic, one-party control of the Senate and Assembly, and a fiscally-conservative Executive perceived as politically weakened, resulted in lawmakers muzzling spending restraint, at least for the next few years. And with the spending increases comes a panoply of revenue-raisers which, given the already unprecedented exodus of wealthy taxpayers from New York over the past year, makes one wonder who will be left to pay such taxes!

DESIGNED FOR

CPAs and Business Owners, who wish to understand how the NY State Budget impacts 2020 Tax Returns and the 2021 Tax Season

BENEFITS

Understand the latest developments and major tax law provisions of the NY State Budget for 2021/2022.

HIGHLIGHTS

  • Temporary income tax rate increases for high-income-earners;
  • Pass-through entity tax;
  • Temporary corporate income tax rate increase and reinstatement of capital base tax;
  • No more Opportunity Zone benefits; 
  • Pandemic Recovery and Restart Program;
  • Extension/modification of existing credits/exemptions;
  • Real Property Tax Relief credit;
  • Real Estate Transfer Tax ("RETT") amendments;
  • Employees working outside of New York due to COVID.

COURSE LEVEL

Update

PREREQUISITES

Basic knowledge of income taxes

ADVANCE PREPARATION

None

ADDITIONAL NOTES

NYSSCPA prod

INSTRUCTORS

Joseph Endres

Joseph N. Endres, Esq.

Partner

Hodgson Russ LLP

Joseph N. Endres, Esq. is a partner in the Buffalo office of HodgsonRuss LLP. He counsels clients on a wide range of state and local taxation issues and represents taxpayers in disputes with the New York State Department of Taxation and Finance and the New York City Department of Finance. His practice focuses on personal income tax and residency matters as well as sales and use tax issues in the technology industry (software as a service, cloud computing, digital products, etc.).

Mr. Endres also advises clients with respect to various federal and state tax incentive-based programs such as the federal renewable energy investment and production tax credits, and New York State's Start-Up NY Program, Excelsior Program, former Empire Zone Program, Brownfield Tax Credit Program, and Historical Building Rehabilitation Tax Credit Program. Finally, Mr. Endres counsels clients on their abandoned property obligations. He is the Abandoned Property Audits Practice leader and has represented large corporations in complex compliance matters such as multistate abandoned property audits and voluntary disclosures.

He is a magna cum laude graduate of the University of Buffalo (SUNY), B.A. and SUNY Buffalo Law School, J.D. Mr. Endres is admitted to practice law in New York and is a member of the New York State Bar Association and the Bar Association of Erie County.

Mark Klein

Mark S. Klein, J.D.

Partner

Hodgson Russ LLP

Mark is Chairman of Hodgson Russ LLP and concentrates his practice in New York State and New York City tax matters. He has more than 35 years of experience with federal, multistate, state and local taxation -- and may be best known for his public speaking on tax topics. Mark splits his time between the Firm's New York City and Buffalo offices.

Mark has represented numerous Fortune 500 companies in connection with corporate, withholding and sales tax audits as well as dozens of individuals who appear on the Forbes 500 list of wealthiest individuals in the United States in connection with New York income tax inquiries.

Mark taught courses in the Tax Certificate Program in the School of Management at the University of Buffalo on state taxation and tax practice and procedure. He is a member of The CPA Journal editorial review board and has written numerous books, articles and treatises on the subject of multistate taxation. Mark is the general editor of LexisNexis Tax Practice Insights: New York; the editor of New York Tax Highlights and the contributing editor of CCH's Annual Guidebook to New York Taxes. He is the co-author of the ABA Sales & Use Tax Desk Book, CCH's New York Residency and Allocation Audit Handbook; New York Sales and Use Tax Answer Book, the New York State Bar Association's Contesting New York State Tax Assessments, 4th Edition; and RIA's New York Tax Handbook and New York City Tax Handbook. Mark is also a contributor to numerous professional and industry-focused publications.

PRICING

$49.00 - Member

$149.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

NYSSCPA