News & Insights: james m. brower jr

The Latest on the New York Pass-Through Entity Tax

By James (Jay) M. Brower, Jr.  |  February 15, 2022

Taxpayers should note that March 15, 2022, is the deadline to pay the tax for 2021, elect-in to the tax for 2022 and make the entity’s first estimated tax payment for the 2022 tax year.

Employee Retention Credit (ERC) Repealed Retroactively by New Legislation

By James (Jay) M. Brower, Jr.  |  November 10, 2021

On November 5, 2021, the House of Representatives passed HR 3684 the “Infrastructure Investment and Jobs Act,” which was signed shortly thereafter by the President.

Reminder: Half of 2020 Deferred FICA and Self-Employment Taxes Are Due December 31, 2021

By James (Jay) M. Brower, Jr.  |  November 9, 2021

The CARES Act, enacted in March 2020, allowed employers and self-employed taxpayers to defer payment of their share of FICA taxes for their employees for periods March 27 through December 31, 2020. The bill is now coming due, with payment of 50% of deferred amounts due on December 31, 2021.

Podcast: How Jewelers Can Navigate the State and Local Tax Landscape Complicated by Wayfair

By Howard Hoff |  James (Jay) M. Brower, Jr.  |  October 6, 2021

Howard Hoff, Partner-in-Charge of Marks Paneth’s Commercial Business Group, and James Brower, Partner and State and Local Tax Leader, explain how the Supreme Court’s South Dakota v. Wayfair decision of 2018 has complicated the tax implications of selling in other states.

Remote Workers May Owe New York Income Tax, Even If They Haven’t Set Foot in the State

By Jennifer Prendamano |  James (Jay) M. Brower, Jr.  |  October 1, 2021

Taxpayers who work for a New York-based company may be surprised to find they still owe New York State income taxes even after a successful domicile change.

Updated Guidance: The Pass-through Entity Tax in New York State: Overview and FAQ

By James (Jay) M. Brower, Jr. |  Jennifer Prendamano  |  August 26, 2021

On Wednesday, August 25, 2021, the New York Department of Taxation and Finance issued its first round of guidance on the new Pass-Through Entity Tax.  Read our updated guide and find answers to frequently asked questions for the latest on the PTE tax.

New York State Budget Changes: Tax Increases, SALT Cap Workaround and Additional COVID Relief

By James (Jay) M. Brower, Jr.  |  April 8, 2021

On April 6, 2021, the New York State Legislature and Governor Andrew Cuomo came to an agreement on the state’s operating budget for the fiscal year that began on April 1, 2021.

Planning Considerations to Maximize the Benefit of Employee Retention Credits

By James (Jay) M. Brower, Jr.  |  March 24, 2021

The American Rescue Plan Act has extended the availability of the Employee Retention Credit (ERC). Employers should consider all planning opportunities that can help them qualify for the ERC and maximize potential credits.

Families First Coronavirus Response Act (FFCRA) Still Available and Potentially Valuable

By James (Jay) M. Brower, Jr.  |  February 24, 2021

Early last year Congress enacted the “Families First Coronavirus Response Act (FFCRA)” as a way to help businesses with employees diagnosed with or exposed to COVID-19 offset some of their payroll costs. 

Employee Retention Credit Extended and Expanded

By James (Jay) M. Brower, Jr. |  Timothy J. McMaugh  |  February 18, 2021

Eligibility for the Employee Retention Credit, which is designed to encourage businesses to keep workers on their payroll and support small businesses and nonprofits through the coronavirus economic emergency, has been expanded to include employers who also received PPP loans. 

SALT Deduction Work-Arounds Receive IRS Blessing – Look for More States to Enact Them

By James (Jay) M. Brower, Jr.  |  January 14, 2021

Several states have sought ways to circumvent the SALT Cap limiting an individual’s annual itemized deduction for state and local income and property taxes. Now that the IRS has blessed Connecticut’s SALT Cap work-around, we will probably see several other states enact similar laws.

Three New Payroll Tax Benefits for Businesses

By James (Jay) M. Brower, Jr. |  Neil A. Sonenberg  |  May 20, 2020

A deep dive into three new payroll tax benefits designed to alleviate the financial hardship of keeping employees on payroll during the COVID-19 shutdown.

FAQ: Wayfair’s Impact on Businesses that Sell Taxable Goods and Services

By James (Jay) M. Brower, Jr.  |  March 4, 2019

Last year’s Wayfair ruling overturned a longstanding court precedent that applied to the collection of sales tax from out-of-state sellers. As states begin to enforce the new “economic nexus” threshold, it is clear that the impact of this decision reaches much farther than online and remote retailers.

SALT Alert: U.S. Supreme Court Overturns Physical Presence Rule for Out-of-State Sellers

By Steven P. Bryde |  James (Jay) M. Brower, Jr.  |  June 27, 2018

On June 21, 2018, the U.S. Supreme Court overturned a longstanding court precedent that applied to the collection of sales tax from online and other remote retailers. In South Dakota v. Wayfair, Inc. et al, the Court replaced the “physical presence” rule with a new standard for determining when states can impose a sales tax collection responsibility on out-of-state sellers of taxable goods and services.