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May 15, 2012
Council on State Taxation (COST) 2012 Spring Audit Session/Income Tax Conference
On May 16, Stephen P. Kranz participates in a panel titled "To Be or Not to Be: The MTC’s Audit Authority." The session explores the Multistate Tax Commission and the audits it performs as an "operating arm" of the states. However, numerous states have adopted laws that directly conflict with the compact. Do those states’ questionable status as compact member states threaten the existence of the compact, making the MTC akin to a third-party vendor that should not be granted the same audit authority as a state department of revenue? Explore these questions and more during the session.
On May 17, Jeffrey A. Friedman shares the "Top Ten Reasons for Inconsistencies: Multistate Corporate Taxpayers and Varied State Laws." His presentation covers the differences among various state approaches to taxing multistate businesses. As the importance of services and intangible property has grown and the economy has globalized, states have increasingly chosen to use different methods to source and tax revenues. Jeff plans to review the evolution of the current state approaches, discuss the impact these different taxing approaches have had on the tax profile of businesses with multistate activities, and offer best practices for dealing with the differences.
For more information or to register, click here.