Bloomberg BNA State Tax Advisory Board Members Offer Analysis on Contentious Issues and Hottest Trends
(Arlington, VA, January 30, 2012) Members of
the Bloomberg BNA State Tax Advisory Board and other state tax
experts convened recently to discuss critical state tax issues
impacting businesses across the country. Their insights and views
are contained in a new Bloomberg BNA special report,
State Tax Advisory Board
Roundtable, published on January 27. Through
this unique perspective, tax practitioners will be better able to
address and plan for emerging and evolving state tax trends and
controversies.
The discussion covered state tax cases before the U.S. Supreme
Court, nexus, sourcing issues arising from electronic commerce,
pass-through entities, cloud computing, enforcement procedures, and
Pub. L. No. 86-272. Each discussion topic is divided into a section
that includes an explanation of the issues being discussed and
additional background information on each of the cases and other
legal developments referred to by the participants.
One of the most challenging aspects of state tax law is the gray
area that accountants and lawyers must gauge when offering advice
to a client or employer. As the pace of technological innovations
such as cloud computing continues to accelerate, practitioners must
often apply archaic state tax code provisions to new types of
transactions.
The result often is that "we think we know what the rules are,
but when you apply those rules to [electronically delivered]
products you really can't tell whether it is or isn't taxable,"
said roundtable participant James W. Wetzler-Director of Deloitte
Tax LLP's New York City office and former Commissioner for the New
York Department of Taxation and Finance.
The uncertainty surrounding many aspects of state tax law can
also present opportunities for practitioners that can identify and
exploit them. For example, New York-based companies with a
significant number of customers outside the state should consider
filing tax refund claims as a result of recent rulings adopting a
market-based sourcing approach, said Richard Genetelli-the founder
of the Genetelli Consulting Group.
State Tax Advisory Board
Roundtable is an example of the detailed,
substantive reports that are part of a subscription to Bloomberg
BNA's Premier State Tax Library, a comprehensive state tax
service that provides in-depth coverage of cutting-edge issues
impacting intra- and inter-state commerce and taxation. For a copy
of this Special Report and a Free Trial to Bloomberg BNA's
Premier State Tax Library, contact Bloomberg BNA Customer
Service at 800.0372.1033.
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