Industry News

Changes to NY State PTET in 2022 Budget Bill

May 13, 2022

The Budget Bill was signed into law on April 9, 2022. Included in the tax provisions are two key changes to the Pass-Through Entity Tax (PTET): S Corporations with Resident Shareholders Unlike partnerships, S corporations must allocate all items of income and deduction pro-rata based on stock ownership. Therefore, NY resident shareholders, who are subject to state income tax on all of their income, cannot be treated differently from nonresidents, who are only taxed on income allocable to the state. As a result, the PTET base for S corporations under the original law only allowed for allocated income of all […]

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Her Business Is Cleaning Up

It took 11 years, but Nicole Levine eventually went from cleaning law offices and furniture stores for extra cash to running her own award-winning manufacturing business."Because I’m a...To view the full story, click the title link. Read More More [+]

Weinberg Ready For Reality Rollercoaster

Another day, another broker reality show. This time, it’s an ABC Family show called “Next Step Realty: NYC,” a series that follows New York City-based residential brokerage firm Next Step Realty, and the agents who work there. With the first[…] Read More More [+]

CMS Releases July ICD-10 Testing Results

From July 20 through 24, 2015, Medicare fee-for-service healthcare providers, clearinghouses and billing agencies participated in a third week of ICD-10 end-to-end testing with all Medicare Administrative Contractors (MACs) and the Durable Medical Equipment MAC Common Electronic Data Interchange contractor. Read More More [+]

Equity-Based Compensation: Are Non-GAAP Earnings Misleading?

Stock-based compensation is used by companies of all shapes and sizes. Travis W. Harms, leader of Mercer Capital’s Financial Reporting Valuation Group, explains from a valuation standpoint, the importance of measuring its fair value. To read more about the results[…] Read More More [+]