Anything that improves the employment of tax professionals, I am for. Thus, states with their own tax codes that do not correspond to the federal Internal Revenue Code, at least for my students and alumni, are OK by me. Unless I own a business. Then it’s maddeningly complex, and compliance expensive, to operate in several tax regimes.
Not saying that the CARES Act provisions made good tax policy sense. But unless New York state (and city) has something better to offer, the Covid-19 meltdown does not seem like an opportune time to ‘stick it’ to Congress’ because Congress seems to enact ineffectual tax provisions. Not that the typical New York voter understands or cares about 163(j) relief or NOL. And arguably, most voters do not feel sympathy for the large business and investment partnership vehicles (at least until I remind them that it is their retirement accounts that own the majority of the publicly held businesses and investment vehicles, and thus they’ll be working a little longer than they hoped for).
New York based business in particular may come to understand when the CPA / tax advisor informs that on the federal return Covid-19 stimulus relief is allowable but not so on the NY state return. Some NY based businesses are going to feel that their state didn’t have their backs. Other businesses that are large enough and able because of industry to relocate operations have time a plenty at this moment to think about such relocation. (Texas will be open for business again soon).