Alston & Bird Tax Blog

Corporations

New York’s FY 2022 Budget Bill Crosses Finish Line

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New York State’s budget bill is on the governor’s desk. Our State & Local Tax Group provides the most significant highlights for you and your business. Higher tax rates for the wealthy, lower tax rates for the middle classCorporations will see higher tax rates and a reinstated capital baseElective pass-through entity tax enactedSeveral tax credits were created, renewed, or extended Click here to read the full advisory. [...]Read more

Foreign-Derived Intangible Income

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It’s probably the next-best part of the Tax Cuts and Jobs Act for multinationals. Our Federal Tax Group investigates the foreign-derived intangible income regime and how you can use it.

What is an export?
Getting the CFC involved
Selling a service

Read the full advisory here. [...]Read more

The Tax Act’s New Business Interest Expense Limitation – Dear IRS: Some Guidance, Please?

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The Tax Cuts and Jobs Act replaced the earnings stripping rules with a new limitation on deductions for business interest expense. Our International Tax Group examines the new law and what it means for interest expense deductions going forward.

Special rules for partnerships and S corporations
Rules for corporations
What the new limitation leaves out

Read the full advisory here. [...]Read more