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Noonan’s Notes Blog

About This Blog

Noonan’s Notes Blog is written by a team of Hodgson Russ tax attorneys led by the blog’s namesake, Tim Noonan. Noonan’s Notes Blog regularly provides analysis of and commentary on developments in the world of New York and multistate tax law. Noonan's Notes Blog is a winner of CreditDonkey's Best Tax Blogs Award 2017.

Contributors

Timothy Noonan 
Ariele Doolittle
Joseph Endres
Daniel Kelly
Elizabeth Pascal 
Craig Reilly
Andrew Wright 

Photo of Noonan’s Notes Blog K. Craig Reilly
Senior Associate
kcreilly@hodgsonruss.com
716.848.1582
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Craig is an associate in the firm’s State & Local Tax Practice. Craig counsels businesses and individuals in a range of state and local tax issues, with a focus on New York …

Showing 20 posts by K. Craig Reilly.

NY Tax Minutes: City Finances, Transparency, Tribunal Rulings

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This article originally appeared in Law360 and is reprinted with permission.

August is often a slow month in the state and local tax world, with attorneys, accountants and auditors looking to squeeze the last bit out of summer. But not everyone at the New York State Tax Department took a break this month. And our most seasonally appropriate update comes from the Tax Department’s August appearance at The Great New York State Fair in Syracuse, New York. [1]

NY Tax Minutes: Trump Tax Returns, New Corporate Tax Regs

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This article originally appeared in Law360 and is reprinted with permission.

Every year, magazines and newspapers across the country release summer’s best beach reads — lists of what books and articles to pick up and read your way through vacation. But, if you’re like us, don’t you wish there was a list tailored just for tax professionals? Those of us looking for something relaxing to read on our summer vacations but that’s also tailored just for you? Well for that, there’s only one recommendation you need: this month’s edition of NY Tax Minutes.

New York Tax Minutes: Final SALT Regs and 2 Post-Budget Changes

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This article originally appeared in Law360 and is reprinted with permission.

The Fourth of July fireworks may be over but there’s still plenty to see on the New York tax front. In this month’s edition of NY Tax Minutes, we take a look at the Internal Revenue Service’s final state and local tax, or SALT, regulations addressing potential workarounds to the SALT deduction cap. We also highlight two noteworthy post- budget changes to New York’s tax law and look in on the past month’s important state tax decisions and opinions.

NY Tax Minutes: Marketplace Guidance, Tax Return Bill

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This article originally appeared in Law360 and is reprinted with permission.

We’re back after a brief one month hiatus. One of your authors celebrated the birth of his first child in April, which led to some last- minute calls to duty on the home front. Your other author was at the ready to fill in, but he has 12 kids already (no joke), so we decided to dedicate April to our dependents (new and old), and to our clients. We’ll leave it to readers to guess which author has one mouth to feed and which has 12.

New Jersey Income Tax Planning Opportunity: Delaware Trusts

A significant benefit of using trusts is the ability to minimize state level income taxes. The availability of this strategy depends on the residence of the trust creator (the “settlor”); the residence of the trustee; the residence of the trust beneficiaries; the type of assets owned by the trust; and the type of income earned by the trust. When all of the factors align correctly, the trust settlor can minimize, or even eliminate, state level income tax on the trust assets.  

NY Tax Minutes: Marketplace Sales Tax, Corp. Franchise Regs

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This article originally appeared in Law360 and is reprinted with permission.

As we finalize this month’s column, it appears that budget season here in New York state has finally come to a close, with the Governor and Legislature agreeing, on March 31, 2019, to a new $175 billion budget. The agreement came one day before the deadline for an on-time budget in order to meet the state’s next fiscal year, which begins April 1 In a March 31, 2019 press release,[1] Gov. Andrew Cuomo, Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie announced a plan that includes:

NY Tax Minutes: Amazon, Congestion Pricing, GILTI Guidance

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This article originally appeared in Law360 and is reprinted with permission.

The past month was a busy one for New York tax updates, but don't worry, we have the highlights, and, as always, we're delivering the month's news in a way that's made for New Yorkers. Fast.

NY Tax Minutes: Wayfair, Executive Budget, Goldman Offshore

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This article originally appeared in Law360 and is reprinted with permission.

The New Year is in full swing here at “NY Tax Minutes,” and we’re sticking with our resolution to deliver all the month’s New York City and state tax news in a way that’s made for New Yorkers. Fast.

NY Tax Minutes: December Review and 2019 Preview

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This article originally appeared in Law360 and is reprinted with permission.

It’s a new year here at “NY Tax Minutes,” but don’t worry, we’re still delivering all the month’s New York City and state tax news in a way that’s made for New Yorkers. Fast. But as we close the books on 2018 and look ahead to another year of tax updates, we’re adding a new wrinkle to this month’s column. We’re pulling out our crystal balls and predicting whether the news that brought 2018 to a close will continue into the New Year or whether we can turn the clock on these issues.

NY Tax Minutes: November

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This article originally appeared in Law360 and is reprinted with permission.

We’re back with the fifth installment of “NY Tax Minutes.” And once again, we’re delivering all the month’s New York City and state tax news in a way that’s made for New Yorkers. Fast.

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