Ten years after New York City introduced the business corporation tax, it is finally preparing complementary regulations. New York State adopted regulations in December 2023 to implement its 2015 corporate tax reform legislation. When comparing New York City’s regime to New York State and New Jersey, there are some notable differences.

AI is poised to decouple labor from production, just as the internet decoupled land from production. As trusted advisors, CPAs can have much influence over corporate growth and can guide corporations towards building a better future.