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Tell Your Story Through Social Media Over the past several months, we have witnessed how social media has been at the forefront for not-for-profits —allowing them to tell their story through social media —and one of the extremely successful, viral campaigns being the Ice Bucket Challenge. As BBC News Magazine points out, there have been...

Lessors in Pennsylvania not Subject to Local Business Privilege Taxes Email John In a recent court case (Fish, Hrabrick and Briskin, v. Township of Lower Merion, 1940 C.D. 2013, 09/19/2014), a Pennsylvania court decided that the imposition by Lower Merion Township of the Business Privilege Tax (BPT) on lessors’ rental income violates the Local Tax...

OECD Ranks the US Tax Code 32 of 34 for Tax Competitiveness Email Nicole According to the 2014 International Tax Competitive Index (ITCI), released September 15, 2014 by the Tax Foundation in Washington, DC, the United States has the third least competitive tax code in the 34-member Organization for Economic Co-operation and Development (OECD). The...

Danger! Don’t Get Too Close to the New York Estate Tax Cliff On March 31, 2014, Governor Andrew Cuomo signed legislation to implement sweeping changes to the New York State estate law. The changes apply to the estates of individuals with dates of death on or after April 1, 2014. The new law contains several...

MCTMT Changes Email Barry Email Alex The Department of Taxation and Finance has issued a technical memorandum that explains recent legislative amendments to the Metropolitan Commuter Transportation Mobility Tax (MCTMT) made by the 2014-2015 Budget bill. The new law changes the MCTMT payment and filing due dates for self-employed individuals to conform to personal income...

Pennsylvania Taxation Is Different Than in Most States Email Joe Pennsylvania isn’t like most of the other states. While states typically have some tax laws that do not conform exactly to federal income tax rules, Pennsylvania has some unusual differences that all tax preparers need to be aware of. One unusual and significant difference is...

Revised Nonresident Audit Guidelines Email Barry Email Alex In this edition, we cover breaking news in State and Local Tax developments and provide more detailed coverage of the developments for nonresident audits in NYS. If you have any questions about the information presented below, please reach out to a member of the WithumSmith+Brown SALT Team....

FICA Maintains Grasp on Severance Payments Email CJ Resolving a split among the courts, the Supreme Court has ruled that severance payments are subject to the Federal Insurance Contributions Act (“FICA”). The tax code’s income tax withholding provisions generally define “wages” in substantially the same way that FICA does: all remuneration for employment, including the...