N.Y. Businesses Wary of Decade-Old Tax Reform Finally Kicking In

Timing is everything as New York prepares to finalize rules for the “most extensive restructuring” of the state’s corporate tax framework since the 1940s.

In August, the state published proposed rules for implementing the corporate tax reform law it passed in 2014, a sweeping measure that changed how corporations source their revenue and how investment capital and income are taxed, among other things. Tax practitioners and business groups have requested various technical changes throughout the nearly decade-long process, but their most recent comments to state tax officials focused largely on when compliance should kick in.

The Business Council of New ...