New York’s Pass-Through Entity Tax: The Inner-Workings Of The Workaround

Like many states, New York recently enacted an elective tax on pass-through entities as a means to mitigate the impact of the federal cap on state and local tax deductions that was implemented as part of the Tax Cuts and Jobs Act. This panel will discuss the mechanics of the new regime and recent administrative guidance issued by the New York State Department of Taxation and Finance, as well as questions and uncertainties that remain with respect to the law’s application and administration.

Agenda

1:00 – 1:05 p.m.

Welcome and Introductions

1:05 – 2:20 p.m.

Panel Discussion

Moderator:

Jack Trachtenberg, Esq.

Principal, Multistate Tax Services

Deloitte Tax LLP

New York, NY

Panel:

Linda A. Farrington, Esq.

Senior Attorney, Office of Counsel

New York State Department of Taxation and Finance

Albany, NY

Elizabeth Kessenides, Esq.

Special Tax Counsel

Federal Reserve Bank of New York

New York, NY

Jennifer S. White, Esq.

Partner

Reed Smith LLP

New York, NY

(1.5 Areas of Professional Practice)

2:20 – 2:30 p.m.

Questions & Answers