HIGHLIGHTS OF THE TAX CUTS AND JOBS ACT
The Tax Cuts and Jobs Act (the “Act”), signed into law on December 22, 2017, provides substantial (but mostly temporary) changes to the tax code. This article is a summarized review and discussion of the key provisions of the new law. This article is designed to provide an introduction to the law and to supply some information to you (the taxpayer) before meeting with your attorney, tax advisor, investment manager and insurance agent for recommendations and before changing or implementing any financial, tax, or estate planning changes.
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On December 5, 2017, the Suffolk County Legislature passed legislation amending the Suffolk County Sanitary Code, which imposes new requirements on wastewater management intended to improve water quality throughout Suffolk County. Executive Steve Bellone signed the legislation into law on December 21, 2017. The ban goes into effect on a county wide level July 2019.
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Effective January 1, 2018, shoppers in Suffolk County are required to pay a $0.05 fee for each non-reusable carryout bag used in a retail establishment. The new law, codified in Article XI, Chapter 704, applies to all plastic and paper bags that are provided by a covered store to any customer at the point of sale for use in carrying goods from the store. The Code defines a covered store as:
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