New York Appellate Court: No Credit for Taxes Paid on Intangible Income
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Tax Analysts
New York's denial of a credit for tax paid to other states on intangible investment income did not violate the dormant commerce clause, according to a state appellate court.
The Supreme Court of the State of New York, Appellate Division, held June 26 in Edelman v. Department of Taxation and Finance that New York’s tax scheme permitting both New York and Connecticut to tax intangible investment income without a credit for taxes paid to Connecticut did not affect interstate commerce and was constitutional.
