Insights into New York’s proposed Article 9-A corporate franchise tax regulations

On 9 August 2023, the New York State (NYS) Department of Taxation and Finance issued proposed Article 9-A corporate franchise tax reform regulations and Article 33 insurance corporation franchise tax regulations that cover a wide range of issues and may impact NYS taxpayers in various industries. The guidance is the culmination of more than eight years of drafts, redrafts and input from taxpayers, industry groups and practitioners. The proposed regulations would implement comprehensive franchise tax reform for corporations, banks and insurance companies that was enacted in 2014, with technical and conforming amendments enacted in 2015 and 2016.

Topics that will be covered during the webcast include:

• Imposition of tax (nexus) and protected/unprotected activities under PL 86-272
• Apportionment
• Computation of tax
• Combined unitary reporting
• Qualified NYS manufacturers
• Financial services industry-specific provisions

Panelists also will discuss the regulation finalization process and deadlines for submitting comments, as well as other actions taxpayers may want to consider before the proposed regulations become final.

Please join us for this 75-minute, interactive webcast. We welcome and encourage you to ask questions.

Panelists

• Zal Kumar, Indirect, State and Local Tax, Ernst & Young LLP, New York, NY
• Matthew Musano, Indirect, State and Local Tax, Ernst & Young LLP, New York, NY
• David Schmutter, Indirect, State and Local Tax, Ernst & Young LLP, New York, NY

Moderator

• Karen Ryan, Indirect, State and Local Tax, Ernst & Young LLP, New York, NY