Ohio and California Address Income Tax Treatment for Sales of Equity Interests in a Business

Farm land in Ohio

By: Jeff Glickman, SALT Partner At a glance The main takeaway: Ohio enacted a new law and California issued guidance that could create income tax obligations in those states for nonresidents that sell their partnership interests. Impact on your business: For individuals who are selling their businesses, these updates could potentially create multistate tax issues…

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New York Enacts Tax Credit for Digital Game Developers

New York City skyline waterview

By: Jess Johannesen, SALT Senior Manager At a glance The main takeaway: New York has big hopes that a new tax credit, the Empire State Digital Gaming Media Production Credit, will be enough to incentivize the production of gaming media in the state when it goes into effect on January 1, 2023. Assess the impact:…

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New York Expands Federal Income Tax Benefits for Certain Pass-Through Entity Owners

State & Local Tax (SALT) Newsletter July 2022

By: Jeff Glickman, SALT Partner At a glance The main takeaway: New York State enacted legislation amending the state’s pass-through entity tax and establishing a pass-through entity tax for New York City to expand federal income tax benefits available to its residents. Assess the impact: Pass-through entity tax legislation consistently evolves from state-to-state, making it…

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