Upcoming National Meeting

2022 Income Tax/Audit Virtual Sessions

COST has just completed its 2022 income Tax Conference/Spring Audit Session in Denver, CO. Recognizing that Covid is still impacting us, in these Virtual Sessions COST will present four of the many excellent presentations from the Conference and the always popular audit sessions to those who couldn’t make it to Denver and those who would like to have an encore.

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Newsletters & Media

Cost Conscious

ISSUE 22-12; June 17, 2022

State Audit and Waiver Practices: Part 2 – During COST’s audit sessions, we routinely hear about states contacting taxpayers shortly before a statute of limitations expires and threaten to issue a jeopardy assessment if the taxpayer does not sign a waiver. Last issue we asked generally about your company’s experience with this issue (see “Last Week’s Question Answered” below), but now it’s time to

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Bloomberg TAX

California Tentative Deal Offers Up to $1,050 Gas Price Relief

June 25, 2022

California families would get as much as $1,050 to offset rising gas prices and inflation under a tentative agreement between Gov. Gavin Newsom and Democrats in the Legislature.

Tax Rules on Cryptocurrency ’Airdrops’ Head to Arizona Governor

June 25, 2022

Recipients of free cryptocurrency airdropped to digital wallets wouldn't have to pay income tax on the value under legislation Arizona state lawmakers passed late Friday.

IRS Proposes Regulations on Estate Tax Deductions

June 24, 2022

The Internal Revenue Service unveiled a proposed regulation amending certain parts of tax code Section 2053 Friday.

Chevron to Sell California Campus, Move Some Staff to Texas (1)

June 24, 2022

Chevron Corp. plans to sell its campus in the San Francisco Bay area and give employees the option of moving to Houston in the latest business migration to Texas. 

US Economy to Narrowly Avoid Recession in 2022-23, IMF Says (1)

June 24, 2022

The US economy is likely to slow in 2022 and 2023 but will “narrowly avoid a recession” as the Federal Reserve implements its rate-tightening plan to curb inflation, the International Monetary Fund said. 

Pass-Through Businesses Score Tax Break on Ohio Entity Sales

June 24, 2022

Ohio pass-through entity owners gained a lucrative tax break Friday with Gov. Mike DeWine's signature of a bill giving preferential treatment to income from business sales.

Gas Prices Ease But Talk of Federal, State Tax Relief Continues

June 24, 2022

This week in state tax news: Proposals for gas tax relief are still swirling at the state and federal levels. Senate Democrats are still pushing for SALT cap expansion. California hands out more tax credits, and Arizona might be modernizing its tax system. Seattle's payroll tax in Washington state is upheld while New Hampshire buckles down to stop other states from taxing income of its residents who are working remotely.

Arcade Game Leases Subject to Georgia Sales Tax, Court Rules

June 24, 2022

Leasing coin-operated amusements isn't exempt from sales tax under a Georgia law that provides a tax break on gross revenues generated from such machines, a state appeals court ruled.

Arizona Aims to Lure Moviemakers With New Film, TV Tax Credits

June 24, 2022

Arizona would give movie and TV production companies tax credits to film in the state through a bill lawmakers are sending to Gov. Doug Ducey (R).

Danish Ruling Coalition Agrees on $106 Per Metric Ton Carbon Tax

June 24, 2022

Denmark’s newly elected ruling coalition has agreed to an ambitious green tax reform package with a carbon tax, according to a finance ministry announcement.

Featured Resources

COST - Council on State Taxation

Amicus Briefs

Walmart Stores v. Johnson County Board of Commissioners

COST amicus brief seeks consistent application of Kansas’ property tax valuation law following Kansas Court of Appeals’ decision In re Equalization of Prieb Properties, 47 Kan. App. 2d 122 (2012). If there is a change to the State’s valuation process, it should be from the legislature and not the Kansas Supreme Court.

COST - Council on State Taxation

COST Studies, Articles & Reports

2022 State and Local Amnesty Programs

Tracker of most state and local tax amnesty programs enacted and conducted in 2022.

COST - Council on State Taxation

COST Comments & Testimony

Comments on Proposed Rules re. the New Retail Delivery Fee

COST sent comments to Colorado Department of Revenue strongly encouraging and supporting broad-based penalty and interest relief to taxpayers as it applies to the new Retail Delivery Fee.