Weekly Round-Up: Amici Filed in Wynne Case Envision Doomsday Scenarios

Amici supporting both taxpayer Brian Wynne and the Comptroller of Maryland each envision a doomsday scenario, but each side sees a different type of doom. In this week’s issue of the Bloomberg BNA Weekly State Tax Report, State Tax Law Editors Michael Kerman and Alexander Dowd provide a closer look at the issues surrounding this case. Their in-depth report can be read in its entirety here.

This week’s issue also tackles another hot issue - how varying real estate transfer tax treatment of entity interest transfers is creating confusion for taxpayers.  Many states and local jurisdictions impose a tax on the transfer of a “controlling interest” in an entity that directly or indirectly holds real property. Sean Kanousis, Sam Melehani and Reed Schreiter, all with PwC, discuss the unique controlling interest transfer tax rules for commercial real property in two states — New York and Pennsylvania — and in two cities — New York City and Philadelphia. Their analysis can be read in its entirety here.

Some notable developments from the State Tax Developments Tracker – Bloomberg BNA’s new tool for monitoring important developments in all the states:

Missouri Department of Revenue Issues Letter Ruling Regarding Collection of Sales Tax on Bitcoin Transfers Through an Automated Teller Machine

Colorado Department of Revenue Provides Guidance on Application of Sales Tax to Home or Vacation Rentals

For more information about this and other state tax issues, sign up for a free trial of the Bloomberg BNA Premier State Tax Library. 

In other developments…

State & Local Tax Advisory: Alston & Bird SALT Team Secures a Proportional Exemption for an Atlanta Charity

The New Alabama Tax Tribunal Is Open for Business, a new State & Local Tax Alert by Bradley Arant Boult Cummings LLP

Focus on Tax Controversy - Fall 2014, by McDermott Will & Emery

Compiled by Priya D. Nair

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