NTA2308. Current Developments in State Income Taxation: Individual and Business

This presentation covers significant state income tax developments that have occurred in 2023, including a consideration of: the continuing adoption of state pass-through entity tax regimes; state income tax conformity to federal provisions (including changes to IRC Sec. 174); the proposed (and soon to be final?) New York corporation income tax regulations in response to tax reform; New Jersey corporation business tax changes; and cost of performance / market-based sourcing cases in Florida and Texas. In addition to a review of these developments, the presentation will provide a first look as to what may happen in this area in 2024.

Learning Objectives:

• Analyze major state income tax developments affecting individuals and businesses that have occurred in 2023.
• Distinguish how these developments may affect individual and business taxpayers.
• Identify initial guidance on how these developments might influence what may happen from a SALT income tax perspective in the coming year.