Withum

AUGUST 8, 2023

Whether it is manufacturers, clothing designers, software developers, plant breeders, winemakers, or engineers, businesses across New York State are shocked to hear how significantly their federal tax bills are increasing for the 2022 taxable year even when their earnings remain the same.

New York 96

New York income tax Manufacturing financial statements 96

Withum

JULY 26, 2023

MRSPremains the same, requiring vans, sport utility vehicles, and pickup trucks to have a MSRP of less than $80,000 and all others less than $55,000. No credit is allowed unless all the components contained in the battery were manufactured or assembled in North America. In addition, the Act would modify the clean vehicle credit (§30D).

Tax 52

Tax income tax Manufacturing accounting and finance 52

Withum

AUGUST 17, 2022

The Inflation Reduction Act of 2022 signed into law by President Biden on August 16, 2022 includes significant changes related to electric vehicle tax credits. The proposal also requires the clean vehicle to be purchased from a qualified manufacturer and have a gross vehicle weight of less than 14,000 pounds. Credit Phaseout.

Tax 125

Tax income tax Manufacturing tax return 125

Withum

AUGUST 17, 2022

The Inflation Reduction Act of 2022 signed into law by President Biden on August 16, 2022 includes significant changes related to electric vehicle tax credits. The proposal also requires the clean vehicle to be purchased from a qualified manufacturer and have a gross vehicle weight of less than 14,000 pounds. Credit Phaseout.

Tax 52

Tax income tax Manufacturing tax return 52