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Good and Bad News for Non-residents owing New York Real Estate

The New York Department of Taxation has issued two new tax advisory opinions that have a significant impact on taxpayers who are non-residents of New York State.

We have previously posted information for non-residents.  See Ryan Emery’s posts of April 21, 2015 and March 19, 2014.  This blog reports on very recent developments based on two advisory opinions issued by the New York Department of Taxation on May 15, 2015. Continue reading “Good and Bad News for Non-residents owing New York Real Estate”

Choosing a Business Entity—Part Two

By  Lindsay A. Getman, Summer Associate

In part one of this series, we provided information on the benefits and disadvantages of sole proprietorships and partnerships as business entities. Part two of this series will discuss corporations and limited liability companies, two additional entity types that a business owner in New York may choose. These types of entity formations can be a costly and burdensome process for a business owner, but formalizing the business structure in this way can also provide numerous benefits and protections. In New York State, business owners may choose from the C corporation, the S corporation and the limited liability company, or LLC.

Continue reading “Choosing a Business Entity—Part Two”