New York State provides guidance on broker-dealer receipts sourcing

Start adding items to your reading lists:
Save this item to:
This item has been saved to your reading list.

August 2017


The New York State Department of Taxation and Finance (Department) recently published a memorandum, Receipts Factor Methodology For The Owners of Single Member Limited Liability Companies That Are Registered Broker-Dealers, to its website regarding the broker-dealer sourcing provisions for New York State Corporation Franchise Tax purposes. The Department is advising taxpayers that certain previously issued Advisory Opinions regarding sourcing of broker-dealer receipts no longer reflect the Department’s current position. Taxpayers should therefore be advised that the Department is now distancing itself from previously published Advisory Opinions.

Contact us

Brian Rebhun

Asset Management Tax Leader, PwC US

Follow us