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New Jersey Bills Implement Mandatory Combined Reporting, Market-Based Sourcing for Services and Other Notable Items
Recently enacted legislation in New Jersey contains a number of significant matters that will greatly impact corporation business taxpayers.  Highlights of the legislation are set forth below. Combined Reporting Unitary water’s edge combined reporting is required for tax years beginning … Continue reading
U.S. Supreme Court Strikes Down Sales/Use Tax Physical Presence Nexus Requirement
On June 21st, by a majority of five to four, the United States Supreme Court struck down the physical presence standard for sales and use tax nexus previously established in 1967 by National Bellas Hess, Inc. v. Department of Revenue … Continue reading
New York Combined Report Update: Opportunity to Withdraw Commonly Owned Group Election
New York State and City are providing a limited window of time to withdraw a commonly owned group election made on a 2015 or 2016 combined return under certain circumstances.  By way of background, corporate tax reform legislation adopted a … Continue reading
New York Residency Audit Update
New York continues to focus on residency audits as a means of raising revenue.  A residency audit can result in the taxation of an individual’s income from all sources rather than only from New York sources.  Resident status in New … Continue reading
Contesting Unreasonable Apportionment Formula Results
State apportionment formulas historically consisted of property, payroll and receipts factors.  Throughout the years, many states adopted variations such as single-factor receipts formulas, often accompanied by complex sourcing rules.  Some states have more than one apportionment formula, and different apportionment … Continue reading
Why Genetelli?

Genetelli is unique, successfully blending the high-quality experience and expertise found in the nation’s largest accounting firms with the concentration and client-focused characteristics of a tax specialty practice.

The advantages to our clients are clear:

• We consistently meet client expectations with responsive and personalized service.

• Our clients receive the depth of specialization required to properly address their state and local tax needs as well as business objectives.

• Our Firm size permits us to foster productive interaction with our clients and to acquire an in-depth understanding of their needs and overall objectives.

• Our ability to offer seasoned tax professional and partner involvement with every engagement at reasonable rates provides an exceptional value.