Upcoming National Meeting

52nd Annual Meeting

COST’s Annual Meeting is COST’s largest meeting each year. Attendees attend presentations the most pressing issues in all State Tax areas, as well as the highly regarded COST Audit Sessions and Chamber of Commerce Roundtables. Topics have not yet been determined but will be listed here once they’ve been selected.

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Newsletters & Media

Legislative Alert

ISSUE 21-41; October 12, 2021

Update on Streamlined Sales Tax Governing Board Annual Meeting; COST Requests Withdrawal of Proposed Mississippi Rule Amendments Addressing Taxation of Cloud Computing

Cost Conscious

ISSUE 21-20; October 8, 2021

Tax Department and State and Local Tax Function Benchmarking Part I – The structure, function, priorities, and collaboration requirements of tax departments continue to evolve. The structure of a corporate tax department can be particularly impactful to the SALT function because many aspects of a business influence SALT. Which of the following best describes the structure of your global corporate

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Bloomberg TAX

Biden Tells Progressives Free Community College Out of Plan: CNN

October 19, 2021

President Joe Biden told House progressives that free community college is out of the economic package being discussed, CNN reports in a tweet, citing unidentified sources.

Tax Credits Are Best Way for Congress to Aid Solar, Sunnova Says

October 19, 2021

Sunnova Energy International Inc. says the most important step U.S. Congress can take to support solar power is to extend a federal tax credit on investments in the industry.

Schumer Says Democrats Want Deal This Week on Biden Agenda (2)

October 19, 2021

Senate Majority Leader Chuck Schumer said Tuesday that congressional Democrats aim to seal a deal this week on Joe Biden’s economic agenda, as feuding liberals and moderates meet with the president at the White House. 

IRS Financial Firm Audits Look at Pensions, Fees, and Substance

October 19, 2021

IRS audits of financial service companies are focusing on areas such as pensions, accounts payable, and fees, and are increasingly zeroing in on the substance of transactions rather than just looking at documentation, IRS staff members said Tuesday.

Jefferies Says U.S. Risks Technical Default in 2021 on Debt Feud

October 19, 2021

The short-term extension of the U.S. government’s borrowing authority may not last beyond the end of December, with the risk of the Treasury missing a payment this year, according to Jefferies. 

Fanatics Pays $1.5 Million to New York for Sales Tax Violations

October 19, 2021

Fanatics Inc. will pay New York more than $1.5 million in damages and penalties to resolve a whistleblower complaint alleging the sports memorabilia seller undercollected sales taxes from online sales for at least three years.

Democrats Float $10,000 Threshold for Bank-Account Reporting (2)

October 19, 2021

Democrats are vowing to crack down on tax cheats by giving banks new requirements to disclose to the IRS accounts that have total annual inflows or withdrawals of at least $10,000.

Texas Plans to Use Fed Stimulus on Hospital Staff, Cybersecurity

October 19, 2021

Money for surge staffing at hospitals, more than half a billion dollars for broadband projects, funds for state worker salaries and $160 million toward grants for crime victims. Seven months after the federal government approved an unprecedented infusion of state aid, Texas lawmakers have signed off on a plan to spend billions of stimulus relief.

NYC Isn’t Keeping Track of Aid Dollars, Says Comptroller Nominee

October 19, 2021

New York City is getting more than $15 billion in federal pandemic relief aid to keep schools, hospitals and other essential parts of the city running. The problem is that there’s no real accounting of where all that money went, says Democratic nominee for Comptroller Brad Lander. 

Schumer Says Democrats Want Deal This Week on Economic Plan

October 19, 2021

Senate Majority Leader Chuck Schumer said Tuesday that Democrats want a deal this week on a new framework for passing President Joe Biden’s economic agenda. 

Featured Resources

COST - Council on State Taxation

Amicus Briefs

Rockey and Linda Piazza and Paul Dennucci, as Assignees of Best Buy Stores, Inc. v. Glenn Hegar

On June 2, COST filed a joinder to an amicus brief of the Texas Retailers Association and the National Retail Federation filed in support of the taxpayers’ Motion for Reconsideration.

COST - Council on State Taxation

COST Studies, Articles & Reports

Convergence and Divergence of Global and U.S. Tax Policies (Tax Notes State, Volume 101, p. 937-976)

In this article, COST’s Karl Frieden and EY’s Barbara Angus describe the unprecedented convergence of international, federal, and state tax policies represented by the OECD/G-20 pillar 1 and 2 proposals; the importance of approaching U.S. tax policy from the perspective of aggregate federal and state tax impacts; and the potential risk of divergence between U.S. and global income tax rules that co

COST - Council on State Taxation

COST Comments & Testimony

Testimony in Support of S.B. 1920 - Estimated Prepayment of Sales Tax

COST does not advocate for the advanced payment of sales tax but supports Massachusetts S.B. 1920 because it would provide a safe-harbor calculation methodology for sellers required to remit an advanced payment of sales tax, and represents a much less burdensome calculation.