Weekly Round-Up: Special Report - Experts Make Predictions, Analyze Impact of ‘Wynne’

Within an hour after the U.S. Supreme Court heard oral arguments for Md. Comp. of the Treas. v. Wynne on Nov. 12, leading experts on both the government and taxpayer side of the issue convened for a panel discussion hosted by the Council On State Taxation (COST), Bloomberg BNA and Jones Day. Bloomberg BNA issued a Special Report providing coverage of the proceedings.

Topics covered in the report include:

       • background and synopsis of the issues before the court and oral arguments;

       • predicted outcomes and discussion of the implications of a victory for the taxpayer versus a victory for the state;

       • implications of a taxpayer win on state tax credit systems;

       • the potential impact this decision will have on the dormant commerce clause;

       • codification of the Complete Auto internal consistency test;

       • discussion of the most surprising issues covered during oral argument.

Access the Special Report by signing up for a free trial of the Weekly State Tax Report here.

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

Michigan Issues Bulletin Regarding Interest Rates on Michigan Tax Tribunal Judgments

North Carolina Department of Revenue Issues Notice Regarding Extension of Internet Tax Freedom Act

Louisiana Issues Revenue Ruling on Taxability of Repair Parts Purchased for Lease or Rental Property

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…

Settlement in RDS/Alatax Class Action Lawsuit Tentatively Approved, by Bradley Arant Boult Cummings LLP

Multistate Tax Commission Gauges State Interest in Funding Transfer Pricing Expertise and Expands Audit Program, by Sutherland

Pennsylvania - Impact of new sales factor sourcing provisions on financial institutions examined, by PwC

Compiled by Priya D. Nair

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