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NY Tribunal Disallows Broker-Dealer Sourcing for Receipts from a Disregarded LLC

April 9, 2020 By Zach Gladney and Josh Labat

Our State & Local Tax Team discusses a decision from the New York Tax Appeals Tribunal that holds that a single member of a broker-dealer is not entitled to use broker-dealer sourcing in NY. Decision impacts millions at stake for NY taxpayers Taxpayers relied on prior guidance from the NY Division of Taxation The Tribunal reverses a widespread view on disregarded LLCs Read the full advisory here. [...]Read more

Filed Under: State & Local Tax Tagged With: broker-dealer, New York, SMLLC, tribunal

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