Sentences with phrase «federal and state tax laws»

Morgan Lewis lawyers partner with clients» benefits personnel to ensure that employee benefit and executive compensation plans comply with the Employment Retirement Income Security Act (ERISA) and US federal and state tax laws.

Our tax law paralegals prepare memos for clients on federal and state tax laws, they perform due diligence, draft and review legal documents, and assist with regulatory filings.

Your personal and financial situation, the macroeconomic environment, and federal and state tax laws will certainly change over time.

Prospective purchasers of tax - exempt bonds should consult their own tax advisors concerning the application of federal and state tax laws to their particular situation.

Not exact matches

In their rush to work around the federal law — called the Tax Cuts and Jobs Act — state lawmakers could make an already unfair and complicated tax system even more Tax Cuts and Jobs Act — state lawmakers could make an already unfair and complicated tax system even more tax system even more so.

But some state officials, incensed by the new federal tax law's $ 10,000 limit on deductions for state and local taxes (SALT), appear to have forgotten this sage advice and are considering proposals to help their residents avoid these limits.

The field also spans everything from payroll management to regulatory compliance — state and federal tax laws, as well as reforms like the Affordable Care Act, each with its own nuances and complexities.

He is a Certified Specialist both in Taxation Law and in Estate Planning, Trust & Probate Law (The State Bar of California, Board of Legal Specialization) admitted to practice law in California, Hawai'i and Arizona (inactive), specializing in Federal and state civil tax and criminal tax controversy matters and tax litigation, including tax - related examinations and investigations for individuals, business enterprises, partnerships, limited liability companies, and corporatioLaw and in Estate Planning, Trust & Probate Law (The State Bar of California, Board of Legal Specialization) admitted to practice law in California, Hawai'i and Arizona (inactive), specializing in Federal and state civil tax and criminal tax controversy matters and tax litigation, including tax - related examinations and investigations for individuals, business enterprises, partnerships, limited liability companies, and corporatioLaw (The State Bar of California, Board of Legal Specialization) admitted to practice law in California, Hawai'i and Arizona (inactive), specializing in Federal and state civil tax and criminal tax controversy matters and tax litigation, including tax - related examinations and investigations for individuals, business enterprises, partnerships, limited liability companies, and corporatState Bar of California, Board of Legal Specialization) admitted to practice law in California, Hawai'i and Arizona (inactive), specializing in Federal and state civil tax and criminal tax controversy matters and tax litigation, including tax - related examinations and investigations for individuals, business enterprises, partnerships, limited liability companies, and corporatiolaw in California, Hawai'i and Arizona (inactive), specializing in Federal and state civil tax and criminal tax controversy matters and tax litigation, including tax - related examinations and investigations for individuals, business enterprises, partnerships, limited liability companies, and corporatstate civil tax and criminal tax controversy matters and tax litigation, including tax - related examinations and investigations for individuals, business enterprises, partnerships, limited liability companies, and corporations.

This discussion also does not consider any specific facts or circumstances that may be relevant to holders subject to special rules under the U.S. federal income tax laws, including, without limitation, certain former citizens or long - term residents of the United States, partnerships or other pass - through entities, real estate investment trusts, regulated investment companies, «controlled foreign corporations,» «passive foreign investment companies,» corporations that accumulate earnings to avoid U.S. federal income tax, banks, financial institutions, investment funds, insurance companies, brokers, dealers or traders in securities, commodities or currencies, tax - exempt organizations, tax - qualified retirement plans, persons subject to the alternative minimum tax, persons that own, or have owned, actually or constructively, more than 5 % of our common stock and persons holding our common stock as part of a hedging or conversion transaction or straddle, or a constructive sale, or other risk reduction strategy.

Under the new law, taxpayers can only deduct $ 10,000 in combined property taxes and other state and local taxes (SALT) from their federal taxes.

Working closely with tax and estate planning professionals will help you create a plan that is right for you, complies with federal and state laws, and fully considers income, estate and gift - tax consequences.

They'll monitor the ever - changing payroll laws, keep an eye on changes to federal, state, and city employment taxes, calculate and pay your employment taxes, file your quarterly and annual employment tax returns, and know the details of federal and state unemployment insurance tax requirements.

Any business must consider the federal, state, and local laws that govern how a business is formed and managed as well as being knowledge about how to deal with taxes, deductions, and disclosures - among the many things covered under the area of regulations.

«Currently, under federal banking laws, many legal, regulated legitimate marijuana businesses — operating legally according to state law — are prevented from maintaining bank accounts and accessing financial products like any other business, such as accepting credit cards, depositing revenues or writing checks to meet payroll or pay taxes,» Perlmutter said.

This discussion also does not address any tax consequences arising under the unearned Medicare contribution tax pursuant to the Health Care and Education Reconciliation Act of 2010, nor does it address any tax considerations under state, local or foreign laws or U.S. federal laws other than those pertaining to the U.S. federal income tax.

$ 8,500 came from my tax return (even though my W4 claims the maximum exemptions allowed by Federal and State laws, I still get a big return)

This ability to «double - dip» and obtain both state / local and federal tax benefits from a single charitable contribution is, under current (i.e., pre-GOP tax bill) law, undercut by the deductibility of state and local taxes.

The rules for 401 (k) s are set by federal tax codes and retirement law, but IRAs are controlled by state law.

People pay federal taxes in exchange for federal services — the military, interstate highways, and Medicare, for example; they pay state and local taxes for state and local services — education, public parks, and law enforcement, for instance.

Purchasers of Shares are urged to consult their own tax advisors with respect to all federal, state, local and foreign tax law or any transfer tax considerations potentially applicable to their investment in the Shares.

And when we realize that the average person today is paying the federal government around 25 % of their income, and then paying another 10 % (or more) for state, county, and city taxes, we are paying a little more in taxes today than what was prescribed by the Mosaic Law for the people of Israel to pay their governmeAnd when we realize that the average person today is paying the federal government around 25 % of their income, and then paying another 10 % (or more) for state, county, and city taxes, we are paying a little more in taxes today than what was prescribed by the Mosaic Law for the people of Israel to pay their governmeand then paying another 10 % (or more) for state, county, and city taxes, we are paying a little more in taxes today than what was prescribed by the Mosaic Law for the people of Israel to pay their governmeand city taxes, we are paying a little more in taxes today than what was prescribed by the Mosaic Law for the people of Israel to pay their government.

Cuomo's payroll tax was unveiled this week and is meant to act as a workaround for the federal cap on state and local tax deductions set at $ 10,000, part of the December tax law approved by Congress.

Cuomo has railed against the federal tax law for its impact on New York and other high tax states that are dominated by Democratic voters.

The two - pronged response to the federal tax reform law included in the new state budget could be challenged and / or scuttled by the IRS.

Gov. Andrew Cuomo went to the Teamsters Local 456 headquarters in his home county of Westchester on federal Tax Day to sign legislation that he said was intended to circumvent the new federal tax law, which caps income tax deductions for state and local taxTax Day to sign legislation that he said was intended to circumvent the new federal tax law, which caps income tax deductions for state and local taxtax law, which caps income tax deductions for state and local taxtax deductions for state and local taxes.

The state Department of Taxation and Finance is working on an unincorporated business tax that might allow partners at law firms and investment banks and similar high - paying places to get around the federal limitation on deducting state and local taxes.

Gov. Andrew Cuomo's proposal to change the state tax code to get around the loss of deductions under the new federal law is «the work of a mind severed from reason and reality,» GOP gubernatorial candidate John DeFrancisco, the deputy state Senate majority leader, said.

A bill introduced Thursday night by Sen. Simcha Felder would change the state's tax law in order to address the federal tax overhaul that caps the amount of money taxpayers can deduct in state and local taxes at $ 10,000.

Cuomo has proposed legislation that could create more than 2,000 new local government entities to accept charitable donations from residents who want to try to get around limits on state and local taxes in the new federal tax law.

Faced with a new federal tax law that limits state and local tax deductions, three communities in New Jersey have come up with a novel solution: They want people to donate to a town - run charity as a way of mitigating their property taxes.

The first step, the governor said, was to sue to upend a new tax law that restricts individuals» ability to deduct from federal taxes the amount they pay in state and local property taxes, ending standard tax - code practice.

Klein said portions of the budget that are now agreed to include fixes to the partial loss of state and local income tax deductions in the new federal tax laws.

The federal law's cap of deductibility of state and local property taxes hits many Long Islanders hard.

«It is critically important, now more than ever, to make sure government controls spending in light of the federal cap on deductions for state and local taxes,» Law said, referring to the $ 10,000 limit on deductions of local property taxes and state income taxes on federal returns.

Unless you're holed up on Gobbler's Knob with Punxsutawney Phil, you know that a new law will limit to $ 10,000 the amount you can deduct on your federal return for state and local taxes.

New York Gov. Andrew Cuomo and the governors of New Jersey and Connecticut said they intend to soon file a multi-state lawsuit against the federal tax overhaul law over the partial loss of the deduction of state and local taxes.

Like many blue - state Republicans, he voted against it primarily because of the new law's curtailment of the federal exemption for state and local taxes, a change that Cuomo has described in his letter as «an economic missile launched at the heart of the State of New York.&rstate Republicans, he voted against it primarily because of the new law's curtailment of the federal exemption for state and local taxes, a change that Cuomo has described in his letter as «an economic missile launched at the heart of the State of New York.&rstate and local taxes, a change that Cuomo has described in his letter as «an economic missile launched at the heart of the State of New York.&rState of New York.»

A day later, Espada's clinic was raided by federal and state authorities and law - enforcement sources said criminal charges of mail fraud and tax evasion were expected as soon as next month.

Klein says portions of the budget that are now agreed to include fixes to the partial loss of state and local income tax deductions in the new federal tax laws.

He itemized and deducted $ 14,336 in state income taxes — more than the $ 10,000 cap imposed by the new federal law — and deducted no property taxes.

This is because «the new federal law caps a deduction for state and local taxes that is especially popular in high - tax states like New York.»

Gov. Andrew Cuomo, in his State of the State speech, floated the idea of converting the state income tax to a payroll tax to help reverse the new federal law that limits deductibility for state and local tState of the State speech, floated the idea of converting the state income tax to a payroll tax to help reverse the new federal law that limits deductibility for state and local tState speech, floated the idea of converting the state income tax to a payroll tax to help reverse the new federal law that limits deductibility for state and local tstate income tax to a payroll tax to help reverse the new federal law that limits deductibility for state and local tstate and local taxes.

The new federal tax law that caps state and local tax deductions at $ 10,000 sent officials in high - tax states like New Jersey scrambling to blunt the potential impact on taxpayers.

This year, in a speech that included applause for Cuomo's criminal justice reform efforts such as strengthening state oversight of jail and his plan to fight the federal government on the tax law, Cuomo sought to give shootouts to individual members of the Legislature and praise Attorney General Eric Schneiderman as well as DiNapoli.

At the same time, Cuomo said he was worried federal lawmakers and the Trump administration would seek other ways of running roughshod over states» rights beyond the tax law approved last month as well as federal immigration policy.

Cuomo, along with other governors from states impacted by the cap, have announced a lawsuit to challenge the constitutionality of the tax law, based on federal separation of powers and states» rights.

Cuomo, who has taken an increasingly arched view of Trump in his public comments, criticized the federal tax law that passed in December and said it was inconsistent to want bipartisanship in Washington when approving a tax law that the governor believes disproportionately hurts Democratic states.

And it must restore the elimination of state and local tax deductibility, which has been the foundation of the federal income tax law since its creation more than a century ago.&raqAnd it must restore the elimination of state and local tax deductibility, which has been the foundation of the federal income tax law since its creation more than a century ago.&raqand local tax deductibility, which has been the foundation of the federal income tax law since its creation more than a century ago.»

But Cuomo wants to change that as a response to the cap on state and local tax deductions, now at $ 10,000, in the federal tax law approved in December.

Changes to the federal tax law cap personal deductions for state and local income, property and sales taxes at $ 10,000.