New Jersey and surrounding states confront significant legislative updates affecting income, sales and use, and corporate taxes. Learn the latest developments, including the impact of COVID-19. Experts will provide updates and practical tips you need to minimize the tax burden for your company or clients.
CPAs in all firms as well as sole practitioners and financial officers of businesses with multistate transactions.
Opening Remarks by Conference Co-Chairs
Debra M. Simon, CPA, M.S.T. and Alan J. Preis, CPA
Multistate Tax Update
Jeffrey A. Friedman, J.D., LL.M. – Eversheds Sutherland LLP
This presentation will address the most significant state and local tax litigation and legislation that has taken place across the nation in the past year affecting income, sales and use, and business activity taxes. This session will highlight important developments in the areas of:
- Combined reporting
- Taxation of foreign source income
- Sales and use tax
- Marketplace facilitator developments
- Real-time collection
- Tax-base expansion
- Taxation of digital advertising
- Other noteworthy income tax updates
New York State and New York City Tax Update
Argi O'Leary, J.D. – New York State Department of Taxation and Finance
Elizabeth Pascal, J.D. – Hodgson Russ LLP
New York has enacted numerous tax provisions in response to the coronavirus pandemic and CARES Act. In this session, we will look at changes enacted in the 2020/21 budget, administrative guidance and trends on the horizon. Topics include:
- How the CARES Act impacts New York State and City taxes
- Tax issues of telecommuting for employers and employees
- Other recent cases and audit developments
- Collection and enforcement issues in light of COVID-19
New Jersey Tax Update
James B. Evans Jr., CPA, J.D., LL.M. – Kulzer & DiPadova, P.A.
This session will review developments affecting New Jersey taxpayers and provide insight into the shifting regulatory landscape. Learn about the latest SALT compliance and resulting tax planning strategies, including:
- COVID-19 filing:
- Payment and assessment extensions
- Audit activity
- Tax protests and appeals
- Collection and enforcement
- Pass-Through Business Alternative Income Tax Act
- CBT changes – NOLs, market sourcing and combined reporting
- Survey of other new laws, rules and cases
The Impact of COVID-19 on New Jersey Taxation and Fiscal Policies
Christopher Emigholz - New Jersey Business & Industry Association
COVID-19 has had a devasting impact on New Jersey’s fiscal condition. Multi-billion-dollar bonding options, tax hikes and big cuts in state spending are all on the table. The New Jersey Business and Industry Association tax lobbyist will address these issues and the state’s long-term fiscal outlook.
Two Years Later: How States Have Reacted to Wayfair for Sales & Use Tax and Nexus for Corporate and Income Taxes
Glenn Newman, J.D. – Greenberg Traurig LLP
Richard L. Cram, Esq. – Multistate Tax Commission
The Supreme Court’s decision in Wayfair
changed the rules on imposing the obligation to collect sales and use tax on remote sellers and marketplace facilitators. This session will review how the states have applied Wayfair
to sales and use tax. The implications for corporate and income tax nexus, including economic nexus and federal protection provided by P.L. 86-272, will also be discussed.
New Jersey Government Update
John J. Ficara, CPA – New Jersey Division of Taxation
James J. Fruscione, MA, MPA, MS, CPM, CIP – New Jersey Division of Revenue and Enterprise Services
Hear from the New Jersey Divisions of Taxation and Revenue/Enterprise Services about essential changes, updates and adjustments that will impact services within the divisions. In this very difficult year, practitioners will not only hear firsthand about issues, but gain understanding of the challenges the divisions are facing so that practitioners can realistically prepare clients to anticipate issues and responses. These presentations are vital to practitioners as the two divisions, while having distinct and important roles, mesh with regards to taxation. Understanding the roles can help practitioners navigate clients’ New Jersey issues effectively. Time will be allotted for Q&A with the directors.
New Jersey Unemployment in Light of COVID-19
Ronald Marino and Greg Castellani - NJ Department of Labor and Workforce Development
Steven B. Shaiman, CPA - Steven B. Shaiman CPA
COVID-19 has impacted the entire world, including how New Jersey's state government handled unemployment.
- The unemployment claims process
- Challenges that the Department of Labor and Workforce Development faced during the pandemic
- The approaches to mitigate these challenges and plans for future improvements