Upcoming National Meeting

2024 Forum on U.S. State and Local Taxes for European Companies (London)

1 day conference on U.S. State and Local Taxes for European companies. Leading practitioners with dedicated knowledge in this area will help attendees understand the tax requirements and risks of doing business or expanding into the vastly lucrative U.S. market. Differences between the U.S. and European tax systems will be covered and attendees will learn about threshold issues such as nexus an

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Newsletters & Media

Cost Conscious

ISSUE 23-24; December 1, 2023

Reporting Structure of Tax Counsel – Corporate tax departments continue to evolve in an increasingly complex tax and business environment and many corporations are reevaluating the structure of their tax departments. Considering that, we would like to know more about the reporting structure of the tax counsel in your organization. If your organization has one or more tax counsel positions, who do


Bloomberg TAX

Appeals Court Urged to Affirm Ruling Limiting IRS Penalty Power

December 07, 2023

The IRS lacks authority to assess a penalty for failing to report ownership interest in foreign corporations because the tax code doesn't permit it, a taxpayer told an appeals court Thursday.

Ohio Senate Pushes 15% Sales Tax as Marijuana Is Legalized

December 07, 2023

The recreational marijuana legalization program that Ohio voters approved Nov. 7 is undergoing changes in the state Legislature, with amendments including a higher sales tax rate and a lower allowed number of home-grown plants.

California Projects $68 Billion Shortfall on Revenue Plunge (2)

December 07, 2023

California is likely to face a $68 billion deficit in its next fiscal year as income tax revenue plummets, marking the second consecutive year of shortfalls that could lead to cuts to key safety-net programs, according to the state’s budget adviser. 

EU Value-Added Tax Update Advances, Shell Rule Stuck

December 07, 2023

Spain has made progress in brokering agreement between EU countries on updated value-added tax rules, but almost none on a draft rule on screening for shell companies set up for tax purposes, an EU official said Thursday.

Trump Lawyer Says NY ‘Terrified’ of Expert Saying Bank Not Duped

December 07, 2023

Donald Trump’s lawyer told a judge overseeing his civil fraud trial that New York’s attorney general is “terrified” of an expert defense witness who says Deutsche Bank AG wouldn’t have been duped by the former president’s allegedly inflated financial statements.

Timber Property Eligible for Ohio Agricultural Tax Benefit

December 07, 2023

About 37 acres of property ought to be reinstated into an agricultural use tax benefit program, in accordance with the plain meaning of state law, the Ohio Board of Tax Appeals said Thursday.

Biden Impeachment Inquiry Set for House Vote Next Week (3)

December 07, 2023

House Republicans on Thursday took a step toward formally authorizing an impeachment inquiry against President Joe Biden tied to his family’s business dealings.

Law Firm Says Part of IRS Killer B Rule Is Unfairly Retroactive

December 07, 2023

A proposed IRS regulation aimed at reining in “Killer B” triangular reorganizations would unfairly apply an anti-abuse rule retroactively, and it should be changed, law firm Mayer Brown says.

TracFone’s Federal Suit Over Puerto Rico 911 Fees Moves Ahead

December 07, 2023

Verizon Communications Inc. subsidiary TracFone Wireless Inc. may proceed in federal court with its allegations that a federal law preempts Puerto Rico from collecting 911 service fees on free and indirect phone service.

Landmark Pension Access Corrections Introduced as 2024 Nears

December 07, 2023

New, bipartisan draft legislation in Congress would correct a landmark workplace retirement access bill signed into law late last year to ensure catch-up contributions continue in 2024 without a hitch and balance contribution limits.

Featured Resources

COST - Council on State Taxation

Amicus Briefs

MMN Infrastructure Services v. Michigan Department of Treasury

COST filed an amicus brief asking the U.S. Supreme Court to review a decision from the Michigan Supreme Court that allowed the State to tax a significant capital gain for a short period tax return (IRC Sec. 338(h)(10) election) with no representation of that gain in the State’s apportionment factor.

COST - Council on State Taxation

COST Studies, Articles & Reports

COST - Council on State Taxation

COST Comments & Testimony

Comments to Minnesota Local Taxes Advisory Task Force

COST submitted comments to the Minnesota Local Taxes Advisory Task Force with recommendations to improve the overall administration of Minnesota’s local taxes.