New Jersey and surrounding states confront significant legislative updates affecting income, sales and use, and corporate taxes. Learn the latest developments, including significant attention to pass-through entity taxes (e.g., New Jersey BAIT, New York PTET, Pennsylvania and others).
CPAs in all sizes of firms as well as financial officers of businesses with multistate transactions.
State and Local Tax Update
Jeffrey A. Friedman, J.D., LL.M. – Eversheds Sutherland LLP
This presentation will address significant state and local tax litigation and legislation. Topics will include income tax apportionment, sales tax on services and digital products, and local taxes.
New Jersey Government Update
Alan Kline, J.D., LL.M. – New Jersey Division of Taxation
James J. Fruscione, MA, MPA, MS, CPM, CIP – New Jersey Division of Revenue and Enterprise Services
Hear from the New Jersey Divisions of Taxation and Revenue/Enterprise Services about essential changes, updates and adjustments that will impact services within the divisions. Practitioners will hear firsthand about issues and gain an understanding of the challenges the divisions are facing in order to realistically prepare themselves and their clients. These presentations are vital to practitioners as the two divisions, while having distinct and important roles, mesh with regards to taxation. Understanding the roles can help CPAs navigate their clients’ or their company’s New Jersey issues effectively.
New Jersey Tax Update
James B. Evans Jr., CPA, J.D., LL.M. – Kulzer & DiPadova, P.A.
This session will review developments affecting New Jersey taxpayers including new laws, regulations, administrative rulings and state tax cases. Explore the latest New Jersey tax compliance issues and tax planning strategies.
11:25 a.m.-12:15 p.m.
New York Tax Update
Melanie Lee, J.D. - Andersen Tax, LLC
This session will provide an overview of decisions, law changes, rulings and administrative releases in New York State over the past year. The impact of these changes on various taxpayers (individuals, corporations, pass-throughs) will also be discussed.
To Elect or Not to Elect? Navigating Pass-Through Entity Tax Regimes
Elizabeth Pascal - Hodgson Russ LLP
Since 2018, more than half of the states in the U.S. have enacted pass-through entity taxes (PTET), allowing businesses to pay and deduct state taxes that individual owners are no longer permitted to deduct as a result of the federal SALT deduction cap. Each state’s PTET is different, and with the vast majority of these taxes requiring an annual, often irrevocable, election, taxpayers and their tax advisors face a complex decision-making matrix to determine when and where to elect into a state’s PTET. This session is designed to help with that decision-making process, using practical examples to identify the key similarities and differences among the PTETs and the principal considerations in deciding whether to make the election.
Everything You Always Wanted to Know About Pass-Through Entity Taxes, But Were Afraid to Ask
Ronald Hegt, CPA - Citrin Cooperman
Karen L. Henderson, CPA – Citrin Cooperman
This session will showcase real-life examples and case studies of the intricacies involved in analyzing whether PTE is advantageous for clients.
A Deep Dive Into Sales Tax
James A. Bartek, CPA – WithumSmith+Brown
Courtney Easterday, MSA - WithumSmith+Brown
This session will focus on key considerations of sales taxes, including how the Wayfair decision has affected businesses and the complexities of handling the increased compliance burden with regard to collection, remittance and software solutions. The discussion will also include common nexus-creating activities, key sales tax cases, including guidance during the past year, and recent audit enforcement activity.