Proposed New York Tax Reform: Setting the Stage for New Legislation

The Bloomberg BNA Tax Management Weekly State Tax Report filters through current state developments and analyzes those critical to multistate tax planning.

Addressing what is perceived to be a negative tax environment for business, the New York State Tax Reform and Fairness Commission has proposed revenue-neutral tax reforms to modernize New York's corporate tax law. In this article, Russell W. Banigan, Kenneth Jewell and Mary Jo Brady, of Deloitte Tax LLP, discuss how certain of the Commission's proposals compare with current New York State corporate franchise tax law and stack up against a competing report issued by the New York State Senate Republican Conference.