Tax Provisions of New York’s 2022-2023 Budget Self-Study Webinar (1.5 Hours)

Overview: 

On April 11th 2022, New York's governor signed a landmark budget that provides significant tax relief for individuals and businesses for Fiscal Year 2022-2023. Included among these provisions are: COVID recovery assistance for small businesses; sizable investments in education and healthcare; income tax cuts for middle-class families; expanded child care support; a moratorium on fuel tax; and tax credits for green energy providers. In this timely self-study webinar, we will address:

  • Personal tax
  • Pass-Through Entity (PTE) tax revisions
  • Sales and use tax
  • Gas tax suspension
  • Other credits and incentives
Objective: 

To provide tax professionals with updates on the landmark provisions included in New York's 2022-2023 Fiscal Year budget which passed in April 2022.

Emphasis: 
  • Personal Income Tax
    - Middle-class income tax cuts
    - Earned Income Tax Credit
      (EITC)
  • Pass Through Entity (PTE) Tax
    - S Corp eligibility
  • Sales & Use Tax
    - Vending machines
  • Gas Tax
    - Suspended through 2022
  • Credits & Other Incentives
    - COVID-19 expenses for small
      businesses
    - Credits for:
      - Child care
      - Digital gaming companies
      - Geothermal energy providers
      - Film and theater productions
      - Veteran employment programs
      - Farmers
      - Hiring--and transportation for--
        the disabled

• Recognize the accelerated date of New York’s middle class tax cuts

• Identify the Budget’s effect on the small business subtraction modification percentage

• Recognize the effect of the Budget’s revamped PTE tax on S corporations with only resident shareholders

• Recognize the Budget’s effect on motor fuel taxes

• Recognize the extended deadline for the initial application for the NYC musical and theatrical production tax credit

• Identify the available credit for qualified digital gaming media production costs

• Identify the Budget’s effect on specified farming and agricultural credits

Bottom
Price: 
$59.00
Prerequisite: 

None.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Overview.

CPE Credit: 
1.50
NASBA Field of Study: 
Taxes