Combating revenue loss will become a top priority for states with the flow of Covid-19-related federal assistance diminishing. This puts many state governments in a quandary, particularly in high-tax jurisdictions like New York, which are in the position of needing to raise revenue while keeping a lid on high rates that squeeze taxpayers.
Consider the seemingly contrasting goals behind raising the highest income tax rates in New York in an effort to gain more funds from the wealthy, while adopting a pass-through entity tax regime to help those same individuals escape the federal income tax limitation on the state tax they are entitled to deduct on their returns.
So where does that leave us now, and what can we expect in the future?
During the heart of the pandemic, many businesses were forced by government mandate to close their offices, which also forced them to shift to a remote work model to continue doing business. As more offices reopen, employees are reluctant to go back to pre-pandemic office routines.
Because many businesses used the pandemic opportunity to broaden their recruiting to remote workers—including those who may reside a good distance away from any of their offices—it becomes difficult...
Federal grand jury charges Farmington Hills adult daycare manager with billing Medicare for therapy never provided A federal grand jury in the Eastern District of Michigan returned an indictment ch...