In This Issue:

Governor’s tax Reform Commission Issues Final Report; Third Department Affirms tribunal: Government Financing Arrangements Are not Investment Capital; Appellate Division holds taxpayer Failed to Prove timing of her Domicile Change ALJ Rejects Department’s effort to Increase a Foreign Bank’s Allocation of Income to new York state; Insights in Brief.

Excerpt from Governor’s tax Reform Commission Issues Final Report -

New York Governor Cuomo’s “New York State Tax Reform and Fairness Commission” has submitted its final report of recommendations for changes to the State’s tax system and administration. N.Y.S. Tax Reform & Fairness Comm’n, Final Report (Nov. 11, 2013). The recommendations – presented as a menu of options for the Governor to consider – are thoughtful and potentially far-reaching. Most of the reform options would require legislation. If substantially enacted, the reforms would represent the most significant overhaul of the New York tax system in decades.