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. The speakers 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.

Speakers

Linda A. Farrington, Esq., New York State Department of Tax and Finance

Elizabeth Kessenides, Esq., Federal Reserve Bank

Jennifer S. White, Esq., Reed Smith LLP