United States: Corporate Tax

New York State has formally enacted a $150 million expansion of the Broadway Tax Credit program as part of its FY 2027 budget, bringing total state commitment to approximately $550 million since 2021.

The US Treasury and IRS have issued new proposed regulations modifying the applicability dates for Section 892 rules affecting foreign government investors, providing crucial transitional relief and grandfathering protection...

The Treasury Department has significantly shifted its approach to corporate and partnership tax regulation in 2025, withdrawing several proposed rules that faced criticism for being overly burdensome and complex. This regulatory rollback, driven by executive orders aimed at reducing compliance costs, has left taxpayers and advisors navigating uncertainty about which transaction structures remain permissible and how the IRS will enforce substantive tax rules without mandatory reporting requirements.