Banking

New York State Adopts Detrimental Receipts Factor Methodology

In guidance memorandum NYT-G-17(2)C, issued by New York State on August 2, 2017, impacting tax years prior to 2015, the Department of Taxation & Finance denies customer-based apportionment of receipts for a corporate entity that holds an interest in a single member LLC that is a registered broker-dealer in securities. Corporations pay tax to New […]

The Marriage Of High Tech And High Finance

The lines between financial services and high technology are becoming increasingly blurred. Four major technological changes will disrupt financial services in the years ahead. At French bank BNP Paribas, chief executive Jean-Laurent Bonnafé is on a mission to build what he calls “the bank of the future”. He is clearly prepared to give his plan […]

The Evolution Of Banking

Over a decade ago looking at the state banking webpage for my home state of New Jersey, there were approximately 250 banks doing business in the state then. A similar check today would yield a list of less than 150 or so; a more than 40% decline. With banking regulation at an all-time high, the […]

Who is Mazars?

We are pleased to announce an exciting development for the new year! As of January 1, 2017 we have officially changed our name to Mazars USA LLP. As the world’s 11th largest accounting firm, the Mazars name is renowned around the globe. Our new name reflects our expanded international capabilities and reinforces our standing as […]

Anchors Aweigh! The 2015-2016 New York State Budget Bill

The New York State Legislature recently passed the 2015-2016 Budget Bill (the “Budget Bill”), provisions which alter New York State and New York City tax law, modify last year’s state corporate income tax reform and provide incentives to purchase a private plane or yacht. New York State Corporate Income Tax The definition of “investment capital” […]