Throughout the week, we highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summary of specific multistate developments relevant to taxpayers, tax professionals, and other interested persons. Read the recent alerts below or visit the archive.
Louisiana modifies industrial ad valorem tax exemption On March 20, 2025, Louisiana Governor Jeff Landry signed Executive Order Number JML 25-033 (“EO 25-033”) to revise the Louisiana Industrial Tax Exemption Program (“ITEP”) by allowing businesses with ITEP contracts existing under the 2017 and 2018 ITEP Rules to prospectively “opt out” of the jobs, payroll, and compliance components regardless of whether the contract is up for renewal.
This Multistate Tax Alert summarizes the key provisions of EO 25-033. [Issued: May 16, 2025] More
New York enacts provisions for reporting federal partnership adjustments On May 9, 2025, the New York budget bill, A3009C/S3009C, for fiscal year 2026 (“Budget Bill”) was enacted into law. The Budget Bill includes changes to the reporting and payment requirements for federal partnership adjustments, regardless of the tax impact.
This Multistate Tax Alert summarizes the provisions related to reporting federal partnership adjustments in New York. [Issued: May 17, 2025] More
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