New York's Proposed Budget Bill: Lawmakers Consider Complete Restructuring of Corporation Franchise, Bank Taxes

Daily Tax Report: State provides authoritative coverage of state and local tax developments across the 50 U.S. states and the District of Columbia, tracking legislative and regulatory updates,...

New York Gov. Andrew Cuomo (D) has proposed sweeping corporate and bank tax changes during this legislative session. In this interview, Kendall Houghton and Matthew Hedstrom of Alston & Bird LLP and Jeffrey Reed of Mayer Brown offer their insight on the bill, discussing New York's potential move to an economic nexus standard, its potential overhaul of the old combined reporting system and corresponding move to mandatory unitary combined reporting, and the elimination of the bank tax, among other proposals.