Upcoming National Meeting

2021 Sales & Transaction Tax Webinar

The Sales & Transaction Tax Webinar will provide attendees with timely updates on the most pressing topics in the indirect tax space. Planned sessions include: the Impact, issues & concerns that still exist over two years after the U.S. Supreme Court’s reversal of its physical presence precedent (Wayfair); Digital Advertising Tax Initiatives; Good Tax Administration; Local Transactiona

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Newsletters & Media

Legislative Alert

ISSUE 21-10; March 2, 2021

COST Addresses Concerns With Mississippi Bill Taxing Business Inputs; COST Recommends Minnesota Federal Adjustments Reporting Bill Follow MTC Model; COST Supports Nebraska Bill to Clarify Treatment of GILTI and Deemed Repatriations

Cost Conscious

ISSUE 21-04; February 26, 2021

Effective Communication During the Pandemic – The pandemic has significantly shifted legislative and administrative processes, from virtual hearings to closed capitols. As a result, has your organization changed how it communicates with government officials on tax-related issues?

Twitter

Bloomberg TAX

N.Y. Wealth Tax and Budget Deadline Converge With Cuomo Scandals

 

Emboldened New York lawmakers could take on a politically weakened Gov. Andrew Cuomo, plagued by dual scandals, to push their own agenda including higher taxes on the wealthy, with just four weeks left before the state budget is due.

Corporate Tax Chat: Tim McDonald, VP of Global Tax at P&G

 

Bloomberg Tax spoke with Tim McDonald, vice president of global tax at Procter & Gamble Co., about the challenges of navigating remote work, his proposed simplification for the OECD’s digital tax plan, and the need to build back trust in international tax rules.

Stimulus Checks Split Economists, Even on the Left (Podcast)

 

With a new round of stimulus checks under consideration by Congress, two liberal economists debate whether these direct payments will become a normal part of U.S. fiscal policy and whether that's a good thing.

E-Discovery Expertise Paved a Path to Partnership for This Big Law Attorney

 

Holland & Knight's Manfred Gabriel took a different career path on the way to making partner as head of the law firm's legal support services. He looks at the evolution of data management, solutions, and e-discovery and says his elevation to partnership in a non-traditional role signals the firm's commitment to set trends and evolve to better serve clients.

Accounts Payable Fraud: Where to Spot It, and How to Prevent It

 

Accounts payable fraud is a silent threat faced by many companies. Catherine Dahl of Beanworks explains how digitalization can spot it and even prevent it.

Will Top Next-Gen Talent Choose to Practice With Law Firms?

 

Law firms need to focus on diversity and inclusion efforts and not cede that responsibility to their clients' influence. Debra Pickett, Page2 Communications, asks if the best and brightest of Gen Z women and minority law school grads will choose to work for law firms where they still see almost no one in a position of power who looks like them.

Wayfair Sales Tax Case Sparked a Pandemic Windfall for States

 

Rachel Ramos, who sells graphic T-shirts on Etsy from her home in Fort Worth, was considering closing her shop before she saw business unexpectedly boom last May. The shop brought her $25,000 from May through December, compared with $11,000 the entire previous year. She’s saving that money to buy a house for her and her two children. “This kept me from having to struggle as a single mother,” she says.

Biden Stimulus Faces Lengthy Final Gauntlet of Senate Votes (1)

 

Senate Democrats face a gauntlet of Republican attempts to rein in President Joe Biden’s $1.9 trillion stimulus package in a marathon session of votes that will extend the timetable for passage into the weekend.

Smithfield Foods Owes California Tax Based on Sales in the State

 

Smithfield Foods Inc. must pay California income tax using a standard formula that apportions income based solely on sales in California compared with sales elsewhere, the state's Franchise Tax Board ruled Thursday.

U.S. Senate Votes to Take Up $1.9 Trillion Covid Relief Bill (1)

 

The U.S. Senate voted to take up a $1.9 trillion pandemic relief bill backed by President Joe Biden, setting off a lengthy and partisan debate expected to end this weekend with approval of the nation’s sixth stimulus since the pandemic-triggered lock downs that began a year ago.

Tax Notes

Missouri Company Denied Resale Exemption for One of Two Leased Aircraft

 

In APLUX Inc. v. Director of Revenue, the Missouri Supreme Court handed the state revenue director a partial win in a dispute over a company’s claim of a resale tax exemption for its purchases of two aircraft.

Nebraska Group, Lawmakers Call for Tax Reform

 

Blueprint Nebraska and the Nebraska Revenue Committee are calling for tax reform to modernize the state's tax structure and attract people and businesses.

Iowa Bill Would Establish New Resident Tax Credit

 

A recently filed Iowa bill would create a new resident tax credit that would be available for the first five consecutive years of residence.

California OTA Implements New Rules, Process for Small Tax Appeals

 

California has adopted new and amended administrative rules for tax appeals, including a separate appeal process for small tax disputes.

New York Lawmaker Proposes EITC for Young Adult Workers

 

A New York bill would provide an earned income tax credit to youth workers to encourage them to remain in the state.

California Court Finds Church Subject to City’s Special Property Tax

 

A California appellate court determined in Valley Baptist Church v. City of San Rafael that a religious exemption under the state constitution does not extend to a special property tax levied by the city of San Rafael to fund a paramedic service program.

Arizona Bill Proposes Workaround to New Tax on Higher Earners

 

Legislation advancing in Arizona would allow passthrough business owners to sidestep a recently approved tax increase on higher earners.

Rhode Island Bill Would Raise Top Income Tax Rate to Fund Education

 

A Rhode Island bill would create a new top individual income tax bracket that would help fund K–12 education.

Ex-NBA Player Hit With Tax, Wire Fraud Charges for Chinese Play

 

A professional basketball player has been charged in United States v. Morris with filing false tax returns and wire fraud for failing to report income he earned while playing in China to the IRS and the Kentucky Department of Revenue.

New York ALJ Denies Sales Tax Break for Picasso Painting Purchase

 

In Matter of Objet LLC, a New York administrative law judge ruled that a resale exemption didn’t cover a company’s purchase of a one-half interest in a Pablo Picasso painting that was later leased to the owner of the other one-half share.

Featured Resources

COST - Council on State Taxation

Amicus Briefs

Jobs & Housing Coalition v. City of Oakland

COST filed an amicus brief in support of the Jobs & Housing Coalition on the California super-majority vote issue. COST supported the Jobs & Housing Coalition’s argument that the California Constitution has long required local special taxes to be passed by a two-thirds majority vote of the electorate, pursuant to Proposition 13 and Proposition 218 of the California Constitution.

COST - Council on State Taxation

COST Studies, Articles & Reports

Five Tax Administration Issues State Lawmakers Should Address in 2021 (State Tax Notes, January 11, 2021, p.145)

This article by Fred Nicely and Aziza Farooki for Tax Notes State details COST’s five proactive legislative initiatives to simplify both compliance and administration as states seek to revitalize their economies due to the COVID-19 pandemic.

COST - Council on State Taxation

COST Comments & Testimony

Comments on New Mexico S.B. 410 – Federal Audit Adjustments

Comments submitted on NM S.B. 410, which would adopt certain provisions of the Multistate Tax Commission’s uniform model statute for federal partnership audits.