New York State Tax Update After the Tax Cuts and Jobs Act

Author: Timothy Noonan

Understand New York State Income Tax Impact of Tax Cuts and Jobs Act of 2017

As the New York State Department of Taxation and Finance continues its enforcement efforts across all tax types, it’s more important than ever to stay updated on what’s happening in the state. This two-hour CPE course will summarize new cases, legislation, rules, and enforcement efforts that have arisen over the past year or so.

Timothy Noonan, Esq., a highly regarded New York tax practitioner and co-author of the Wolters Kluwer New York Residency and Audit Allocation Handbook, will provide a detailed update of all important developments in the critical areas affecting practitioners and businesses on a day-to-day basis. Covering updates primarily in the sales tax and corporate tax area, Mr. Noonan will also provide context to many of the changes and offer helpful insights gained from his personal experience working with clients into the audit process itself. In addition, he will outline in detail the changes included in the Governor’s 2018-2019 Budget, which was put in place in January 2018, and touch on some of the statewide issues as resulting from the federal tax reform.

Publication Date: July 2018

Designed For
All CPAs, enrolled agents, tax return preparers, tax attorneys, and other practitioners who prepare New York returns and/or are responsible for preparing multistate returns for clients or advise on cross-border tax issues or disputes will benefit from this insightful webinar.

Topics Covered

• Impact of the Tax Cuts and Jobs Act (TCJA)
• New York's Response to the TCJA
• Tax Update

Learning Objectives

• Identify the impact of new laws and cases and how they apply to your clients
• Identify key issues facing New York taxpayers, practitioners, and businesses
• Differentiate approaches to federal conformity
• Identify one of the most consequential changes for states as it relates to the TCJA
• Recognize the new standard deduction for head of households as a result of the TCJA
• Describe actions New York implemented in response to TCJA
• Recognize provisions enacted with respect to eh 2018-19 budget legislation for New York
• Identify new deduction amounts
• Describe the Section 179 small business expensing cap amount

Level
Intermediate

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of state taxation concepts.

Advance Preparation
None