"Massachusetts Capital Gains Ruling Offers States a Path"

Jennifer Karpchuk quote in article on "Massachusetts Capital Gains Ruling Offers States a Path"

In an article published in Bloomberg Tax on May 17, 2022, Philadelphia-based Shareholder Jennifer Karpchuk provides insight into a recent Massachusetts high court ruling regarding capital gains. The article outlines the ruling’s implications for future amendments to capital gains legislation in other states, including Karpchuk’s commentary on the matter. “[The ruling] leaves open the door for the legislature to amend the statute and grant such authority (assuming from a policy standpoint the legislature thinks that’s a good idea),” explains Karpchuk.

Karpchuk also cites the filing of an amicus brief by the Multistate Tax Commission – suggesting that multiple other member states share Massachusetts’ view on the ruling. “It would not be surprising to see other states start to assert the same or a similar position taken by Massachusetts (and New York in Goldman Sachs),” Karpchuk explains.

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