Articles

2008-2009 New York State Budget: Jun-09-2008 — On April 23, Governor David A. Patterson signed New York State’s 2008-2009 budget bill into law. This article summarizes the new legislation the Legislature enacted.
New US Passport Rules and Expatriates: Jan-18-2007 — Beginning January 23, 2007, a US citizen travelling by air between the United States and Canada, Mexico, Central America, South America, the Caribbean, or Bermuda must present a valid US passport or Air NEXUS card to enter the United States.
Tax avoidance transactions and reporting requirements in New York: Dec-27-2006 — The New York State Department of Taxation and Finance recently adopted a new regulation regarding various tax avoidance transactions. Most of the reporting requirements piggyback off of federal requirements, however some are specific to New York.
IRS targets employees of foreign embassies and international organizations: Dec-15-2006 — According to the IRS, a significant number of employees and former employees of foreign embassies, foreign consular offices, and international organizations in the United States fail to fulfill their U.S. income tax responsibilities.
Multistate tax issues: Nov-30-2006 — For Canadian companies doing business in the United States, nexus is the most talked-about issue from a US state tax perspective. Many companies fail to realize that a treaty-based exemption generally won't provide protection from state taxes.
New York real property law update 2006: Oct-18-2006 — The following article summarizes significant case law and legislative developments affecting New York real property law during the second half of 2004 and the first half of 2005.
New York real property law update 2005: Oct-16-2006 — The following article summarizes significant case law and legislative developments affecting New York real property law during the second half of 2003 and the first half of 2004.
Anti-Discrimination in Employment: Retaliation Gets Personal: Oct-12-2006 — The United States Supreme Court has substantially lowered an important barrier to proving a retaliation claim under Title VII of the Civil Rights Act of 1964, the model for most anti-discrimination in employment statutes.
Travel concerns regarding passport requirements: Oct-09-2006 — Q: I am planning to travel outside the U.S., will I need a passport to reenter the U.S.?
New York stock option tax rules invalidated: Oct-03-2006 — The New York State Department of Taxation and Finance's defeat in a recent case promises to change significantly the way in which New York State can tax stock option income earned by nonresidents.
New York's new 'notice and demand' rules create correctable confusion: Oct-03-2006 — The New York State tax department is issuing notice and demands much more frequently. This article examines the recent law change and disucsses some of the practical problems that have arisen as a result of its enactment.
New York's revised convenience rule provides some clarity and continued controversy: Oct-03-2006 — Just when the controversy surrounding New York's "convenience of the employer" rule seemed to be all but dead, the New York State Department of Taxation and Finance gave us another reason to write about it.
Have estate docs reviewed if you move: Sep-24-2006 — Q: I recently moved from to Florida and have established my Florida residency. My neighbor tells me it is necessary to re-write my will and other estate planning documents in Florida and I am wondering whether this is so. Can you please advise me on this?
Robert N Gottfried quoted in New York magazine: Sep-19-2006 — Robert N. Gottfried, a partner in Hodgson Russ’s Immigration Practice Group in the New York office, was quoted in a recent New York magazine article, “Immigration: Not just a nanny problem.”
Refund opportunity for nonresidents with stock option income: Aug-29-2006 — A recent New York Tax Appeals Tribunal ruling may present a refund opportunity for nonresidents who paid tax to New York on stock option income using the “grant-to-exercise” rule.
Former NY residents find it’s not easy to leave the Big Apple behind: Aug-21-2006 — Q: Since moving to Florida five years ago friends have told us that the only thing we need to worry about is making sure we are not in New York for more than six months a year. How can we be sure we will not get trapped by the New York tax auditors?
New law increases strictness and severity of publication requirements for LLEs and LPs: Aug-17-2006 — Businesses are strongly encouraged to consult with their lawyers and carefully analyze these new provisions and consider the impact upon entities they form.
New York State sales tax issues for the construction contractor: Aug-01-2006 — State sales taxes are tricky, especially in the construction industry, and New York is no exception.
Applying out-of-state taxes to retirement stock options: Jul-31-2006 — Q: I retired and moved to Florida two years ago. My old New York employer had issued stock options to me when I worked in New York, and I plan to exercise them this year. Since I live in Florida, will I have New York taxes on the stock option income?
New York State Property Tax Rebate Program: Jul-13-2006 — New York State homeowners can expect increased tax savings in the form of either a rebate or a tax credit later this year.
2006-07 New York State Budget: Jul-12-2006 — The New York State Legislature recently voted to override Governor Pataki’s veto of the original budget legislation. This article summarizes the new legislation the Legislature enacted.
FDIC increases protection for retirement funds: Jun-30-2006 — The new rules, however, do not insure non-retirement accounts at the same institution.
Residency audits may challenge “former” New Yorkers: Jun-30-2006 — The 183-day rule is just the beginning. Are you still a New York State resident? The New York State Department of Taxation and Finance may not agree with your answer.
Municipal Law Alert: Ad valorem taxes against utility properties: May-19-2006 — A recent decision from New York’s highest court suggests that towns may now have increased latitude in levying special ad valorem taxes against utility properties.
Reducing litigation risks in US business transactions: May-18-2006 — A failed deal is bad enough; having to contend with the expense and uncertainty of litigation can be a catastrophe. This is even more so for cross-border transactions, given the marked differences between the Canadian and U.S. legal systems.
Final and Temporary PFIC Regs: Feb-01-2006 — On December 8, 2005, the IRS issued final, temporary, and proposed regulations providing guidance for taxpayers that continue to be subject to the passive foreign investment company (PFIC) excess distribution regime of IRC § 1291.
Antitrust Alert: HSR Size of Deal Thresholds Raised: Jan-27-2006 — The Federal Trade Commission announced on January 18, 2006, the revised size thresholds for the deals that must be submitted under the Hart-Scott-Rodino Antitrust Improvements Act (Act).
Tax Alert: Corporate Inversions—Recent US Tax Developments: Jan-23-2006 — The U.S. enacted new “corporate inversion” tax rules in 2004 that affect a wide range of cross-border transactions. Two recent U.S. tax developments may clarify and modify certain aspects of these rules.
Tax Alert: Erie County Sales Tax Rate Increase: Jan-12-2006 — Effective January 15, the local sales tax rate in Erie County, NY will increase to 4.75 percent. This local rate increase will bring the combined sales tax rate to 8.75 percent. This new rate will remain in effect through November 2007.
The Imposition of Unlimited Liability On Limited Partners and Members of LLCs in New York: Dec-07-2005 — According to the interpretation of the sales tax statute by the NYS Dept. of Taxation and Finance, there is no limit whatsoever to the liability of a limited partner or LLC member for the sales and use taxes that should have been collected by the entity.
IRS: Abusive USRPI Transactions: Dec-01-2005 — In its continuing quest to stop tax abuse, the IRS recently outlined two types of US real property transactions involving foreign (non-US) persons that the IRS views as abusive transactions designed to circumvent the US withholding tax.
Tax Alert: Katrina Emergency Tax Relief Act of 2005 (KETRA): Nov-04-2005 — As a result of this temporary provision, individual taxpayers can almost totally eliminate their federal taxable incomes for 2005.
Cancelled, Unrecorded, and Improperly Recorded Certificates: Nov-03-2005 — What to do if presented with a request to transfer one of these items. This article by Hodgson Russ partner Mark A. Harmon was originally published in the Securities Transfer Association quarterly newsletter, issue 4, 2005. Reprinted with permission.
US-Mexico: Transparencies: Nov-01-2005 — The United States and Mexico have agreed on when treaty benefits extend to a fiscally transparent entity formed under the laws of either country.
Ten Tips to Prevent Identity Theft: Oct-15-2005 — This article includes ten tips for companies seeking to avoid incidences of identity theft as well as civil liability for such incidences.
Cross-Border Income Securities: Oct-01-2005 — Income trusts have become popular with US companies that make Canadian public offerings. New variations may be more attractive to Canadian investors.
Professional Compensation Is a Gamble in Chapter 11: Aug-11-2005 — This article by Hodgson Russ partner Garry M. Graber was originally published in The Journal of Corporate Renewal, April 2005. Reprinted with permission.
Cross-Border Estate Planning Basics: Jul-25-2005 — Canadian residents who acquire property located or deemed to be located in the United States are subject to potential U.S. estate tax on the value of that property owned at death.
Planning for Beneficiaries With Special Needs: Jul-25-2005 — Planning for beneficiaries with special needs requires special attention and special drafting of estate planning documents.
New York Tax Appeals Tribunal Issues Stock-Option Decision: Jul-22-2005 — The New York State Tax Appeals Tribunal has rejected New York's long-standing policy on the treatment of a nonresident's stock-option income.
Some thoughts about costs in international arbitration: Jul-08-2005 — Reprinted with permission from International Arbitration News, Summer 2003
Second Circuit Update: Jun-06-2005 — A brief review of recent notable decisions from the Second Circuit, including cases involving arbitration, electronic privacy, securities litigation, and trademark and copyright infringement.
Court of Appeals Upholds the “Convenience of the Employer Doctrine" in Matter of Huckaby: Mar-30-2005 — The Huckaby Court upheld the application of the controversial “convenience of the employer doctrine,” which in the Huckaby case was applied to tax 100% of the wages of a telecommuter who worked for a New York employer from his home in Tennessee.
Temporary Stays in New York: A New Set of Rules in Residency Audits?: Mar-21-2005 — The tax department now takes a more stringent view of the temporary assignment rules and has coupled that shift in policy with an increased focus on the issue in residency audits.
Corporate Fiduciaries, Advisors and Other "Co-Trustees" - Perhaps Your Trust Isn't Exempt From New York State Income Tax: Mar-15-2005 — New York resident trusts that were once thought to be exempt from New York income tax may now be taxable.
US Expatriates: Mar-02-2005 — The Jobs Creation Act of 2004, signed into law on October 22, 2004, substantially altered the expatriation tax rules (Code section 877) applicable to US citizens and long-term permanent residents who commit an expatriating act after June 3, 2004.
IRS on Qualified Dividends: Dec-01-2004 — In October 2004, the IRS provided guidance on the extent to which amounts received on or included in income by US individual shareholders of foreign corporations may be treated as qualified dividend income.
Filing Considerations for Provisional Patent Applications: Sep-12-2004 — The filing of a U.S. provisional patent application preserves foreign filing rights in all Paris Convention countries and disclosures made after the filing will not adversely affect the ability to file foreign patent applications in those countries.
IP Developments September 2004: Sep-10-2004 — Premier Issue! Topics include The Madrid Protocol, copyright treatment of work made for hire, provisional patent applications, nanotechnology, and reach-through claims.