By Michael Hilkin and Justin Stone ( August 7, 2019, 2:18 PM EDT) -- On June 20, a New York state administrative law judge issued a decision applying a retroactive change in law that subjected a nonresident individual to New York personal income tax on the entire gain from the sale of stock of an S corporation, based on the S corporation's New York apportionment factor. The decision, In the Matter of the Petition of Franklin C. Lewis,[1] provides numerous lessons for taxpayers regarding the drafting of agreements and maintaining credibility in litigation....
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