Upcoming National Meeting

2021 Sales & Transactional Tax Webinar

The Sales & Transactional 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 21-02; January 12, 2021

COST Expresses Concerns with Montana Tax Haven Legislation; COST Provides Testimony on Portland’s Proposed Healthy Climate Fee and Clean Air Protection Fee

Cost Conscious

ISSUE 20-25; December 11, 2020

Troubling State Audit Trends – Many thanks to COST members for contributing to last week’s useful and interactive Fall Audit Sessions. The Sessions’ robust dialogues highlighted some troubling audit practice trends. Which audit practice trends are you most concerned about (pick two)?

Twitter

Bloomberg TAX

Biden Urges Swift Action on Giant Aid Plan With Republicans Wary

 

President-elect Joe Biden’s $1.9 trillion economic relief proposal serves as the opening salvo in a legislative battle that could be prolonged by the go-big price tag and the inclusion of initiatives opposed by many Republicans.

States Pursue Online Ad Taxes to Help Fill Budget Gaps (Podcast)

 

The pandemic-induced economic downturn has been a huge challenge for states trying to make their budgetary ends meet. Now, some lawmakers are looking to offset a drop in sales taxes and other revenue with new levies on digital advertising.

Yellen Can Expect National Security Questions at Treasury Confirmation Hearing

 

If confirmed, Janet Yellen would be the first Treasury secretary to enter her term as a statutory member of the National Security Council. This is a vital role, and she can expect to be questioned about national security issues during her confirmation hearing, explains Ambassador Robert M. Kimmitt, former deputy Treasury secretary and undersecretary of state and senior international counsel at WilmerHale.

Transfer Pricing Cases of 2020: Case Summaries

 

In an earlier article the key transfer pricing cases of 2020 were identified and analyzed to draw out the key themes across the year and over recent years. In this article the cases themselves are summarized, making links to each other and to earlier cases.

Biden Promises for Day One Could Take Months to Fulfill

 

President-elect Joe Biden has pledged to take action “on Day One” to fulfill a wide range of campaign promises, including on climate change, immigration and taxes.

Nearly 300,000 New Yorkers in Line for Property Tax Rebates

 

New York City is poised to give a property tax rebate to 293,000 families to help offset an uptick in state tax assessments, now that the city will be fully reimbursed for its share of federal coronavirus aid, under a plan unveiled Thursday by Mayor Bill de Blasio.

NYC Budget Gap to Widen as Office and Hotel Property Values Drop

 

New York City’s budget gap will widen to $5.3 billion in the next fiscal year, as projected tax revenue from offices and hotels plummet, Mayor Bill de Blasio said Thursday.

Point72 to Expand With Florida Offices as Managers Head South

 

Steve Cohen is looking to Florida for additional office space, joining the growing list of hedge fund managers opening outposts in the Sunshine State.

Digital Realty Is Latest Firm to Leave California for Texas (1)

 

Add another company to the list of firms departing California for Texas.

D.C. Passes Tax Whistleblower Law as 'Deterrence Factor' (1)

 

The District of Columbia will allow whistleblowers to file tax fraud lawsuits on behalf of the district and collect a bounty on amounts they recover under legislation approved by Mayor Muriel Bowser.

Tax Notes

District Court Erred in Tax Preemption Dispute, South Dakota Says

 

In an appellate brief filed in Flandreau Santee Sioux Tribe v. Terwilliger, South Dakota officials argued that a federal district court improperly determined that the state cannot impose an excise tax on a non-tribal contractor’s services to renovate and expand a Native American casino.

Virginia Democrats Seek to Legalize, Tax Recreational Marijuana

 

Virginia Democrats have introduced a bill backed by the governor that would legalize and tax marijuana and use the revenue to fund social programs.

Portland, Oregon's Proposed Climate Fees Are Taxes, COST Warns

 

Portland, Oregon's proposed Healthy Climate and Clean Air Protection fees are actually taxes that would require voter approval, according to the Council On State Taxation.

Idaho Governor Proposes Tax Relief, Spending Cuts

 

Idaho Gov. Brad Little (R) has proposed tax cuts to help the state maintain a budget surplus and competitive tax rates while also providing relief to state residents.

New York Bills Would Regulate, Tax Marijuana and Online Sports Betting

 

New York bills would regulate and impose taxes on adult-use marijuana and mobile sports betting.

Arizona Governor Pledges Support for Tax Cuts

 

Following voter approval of a major progressive income tax measure, Arizona’s governor is pledging to again support tax cuts.

Illinois DOR Says Garages, Aggregators Must Collect Parking Tax

 

Parking garage operators and web-based aggregators purchasing parking spaces for resale are both required to register to collect and remit the parking excise tax, according to the Illinois Department of Revenue.

Virginia Democrat Calls for Income Tax Increase to Fund Schools

 

A Virginia Democratic senator is proposing a tax increase on income over $150,000 a year to fund school construction grants and raises for law enforcement officers.

Bills in Virginia, Kentucky Look to Legalize Marijuana

 

Virginia Democrats have prefiled a bill that would legalize, tax, and regulate marijuana for recreational use, and Kentucky lawmakers are considering a bill to allow medical cannabis use.

Montana Governor Proposes Reduced Income Tax Rates, Tax Relief

 

Montana Gov. Greg Gianforte (R) is calling for lower income tax rates in his first budget, the proposed 2023 biennium budget.

Featured Resources

COST - Council on State Taxation

Amicus Briefs

Massachusetts Supreme Judicial Court in Oracle USA, Inc., et.al. v. Commissioner of Revenue

This case is an appeal by the Commonwealth of a taxpayer-favorable decision at the Massachusetts Appellate Tax Board (ATB). This sales tax case involves a sale of software purchased by a business for use in multiple states. The ATB held that the taxpayer could apportion the sales tax based on the users in and out of state after the sales tax return was filed, by utilizing the abatement process an

COST - Council on State Taxation

COST Studies, Articles & Reports

2021 State and Local Amnesty Programs

Tracker of most state and local tax amnesty programs enacted and conducted in 2021.

COST - Council on State Taxation

COST Comments & Testimony

Testimony in Support of H.B. 53, Reporting Federal Tax Adjustments

COST supports Montana HB 53, a measure that addresses a change in the federal audit regime for certain partnerships using the MTC model legislation, but COST recommends certain amendments for the legislation to more closely follow the MTC Model.