State Lawyers and Auditors Discuss Current Tax Issues at MTC Meeting
During the Commission’s Winter Committee Meetings March 2-5, 2010, in Denver, Colorado, lawyers and auditors representing 28 states held a discussion of issues arising in state tax litigation and audits. The discussion occurred during a joint session of the Audit and Litigation Committees.
State auditors and lawyers traded stories, ideas, and tips in a frank exchange covering a wide range of current state tax topics. Because the discussions featured current cases and audits, the resulting exchange focused on the practical. While this wasn’t the first time the two committees held a joint discussion, it had been awhile since one had been held. The consensus among those participating was the joint session was very valuable – many suggested making it a regular occurrence at the winter meetings.
The roundtable between the Commission’s Litigation and Audit Committees culminated the four-day cycle of meetings, held each year during late winter at varying locations around the country. These meetings feature the MTC Uniformity Committee and its two hard-working subcommittees early in the week, followed by sessions of the Nexus, Audit, and Litigation Committees.
Changes in State Corporate Income Tax Apportionment Formulas and Changes in State Corporate Income Tax Bases
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This paper examines the impact of changes in the income apportionment formula on changes in apportioned state corporate income tax base levels. The paper employs a state-level panel comprising all states plus the District of Columbia and spans 2001to 2008 to estimate the effect of changes in the apportionment weights. The estimates suggest that increases in the sales factor weight are generally associated with lower apportioned corporate income tax base; but this is not always the case. Read more... |
Coming Soon: International Financial Reporting Standards
For the past two decades, the Securities and Exchange Commission has been pushing for a single set of high-quality financial reporting standards. In an increasingly global business environment, uniform financial reporting allows for easier comparison between US domestic corporations and their foreign competitors, and will help to facilitate increased cross-border investment and capital market participation. Read more...
State Tax Amnesties
Several states are in the midst of or have recent started amnesty programs. For your convenience, the Commission has set up a page that lists these amnesty programs and provides links you can follow to get specific information. You can find that page here.
Statistical Sampling for Sales and Use Tax Audits
Appropriate use of sampling techniques contributes to reduced audit cost and improved audit results—for both the tax agency and the taxpayer. The MTC has scheduled three sessions of this course, which are open to state and local government and private sector participants:
Read more...
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