An Advisory Opinion is issued at the request of a person or entity. It is limited to the facts set forth therein and is binding on the Department only with respect to the person or entity to whom it is issued and only if the person or entity fully and accurately describes all relevant facts. An Advisory Opinion is based on the law, regulations, and Department policies in effect as of the date the Opinion is issued or for the specific time period at issue in the Opinion.
Whether the farmers' school tax credit of an S corporation is allocated to shareholders based on their ownership interest at the time property taxes were paid, or is allocated on a per share per day basis
Bowers & Company CPAs, PLLC - Whether the calculation of the Empire Zone tax benefits for a single-member limited liability company treated as a disregarded entity will be affected if it elects to be taxed as a subchapter S corporation
Whether an S corporation shareholder has any relief from Tax Law §612(b)(8) which requires the bonus depreciation allowed under Internal Revenue Code §168(k) to be added back to federal adjusted gross income
Lawrence Faraone - Whether distributions that are attributable to a rollover contribution from the NYS Police and Firefighters Retirement System to an IRA or other eligible retirement plan are included in New York taxable income
Whether a newly formed entity, or a division of an existing foreign corporation, that commences business in New York will be eligible to claim the qualified empire zone enterprise (QEZE) tax reduction credit and the wage tax credit
TSB-A-09(5)I Whether Form IT-2104 that is completed using an electronic submission system that satisfies the federal requirements for a valid electronic signature on federal Form W-4 also satisfies the signature requirements under New York law
Whether the tangible property component of the Brownfield Redevelopment Tax Credit may be specially allocated among a New York LLC's members in the same proportion as the depreciation deductions relating to the qualified tangible property that gives rise to the credit are allocated in the tax year the property is placed in service