An August 4, 2022, Of Counsel Mike Semes was quoted in “NY Regs Seek To Expand Tax Reach On Out-Of-State Investors,” an article in the Law360 Tax Authority. The article focused on a draft regulations released by New York’s tax authority seeking to “tax gains that out-of-state entities realize from sales of minority interest in in-state investment partnerships even if a unitary relationship doesn’t exist between them.” Semes told Law360 that the proposed regulations would give the state “a lot of discretion to define, through their sourcing rules, what is activity or presence in the state.”
Read the article.