Upcoming National Meeting

2021 Intermediate/Advanced State Income Tax School

This year COST will be holding its Intermediate/Advanced State Income Tax School in Atlanta, Georgia. The School provides attendees with a deeper dive into income tax concepts with more advanced, difficult issues explored and evaluated. Past attendees have been incredibly positive in their reviews of the School and the presenters.

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Newsletters & Media

Cost Conscious

ISSUE 21-23; November 19, 2021

COST SALT Mentorship Program – One of the most beneficial aspects of being a part of COST is COST’s community and network. Given our unique position in state and local tax, COST is in the process of developing a mentorship program to facilitate connections and support professional development and growth for industry SALT professionals. To aid us in the buildout of this program, please answer the f

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Bloomberg TAX

SALT-Cap Repeal Leader Tom Suozzi to Run for N.Y. Governor (1)

November 29, 2021

U.S. Representative Tom Suozzi said he will run for the Democratic nomination for New York governor, joining the field seeking to challenge incumbent Governor Kathy Hochul.

EU Plans Tougher Regime for Overseeing Countries’ Tax Systems

November 29, 2021

European Union countries would intensify their checks on one another's taxation regimes starting in 2022, under a draft mandate for the bloc's tax watchdog.

Elon Musk’s California Exit Holds Path to $2 Billion Tax Savings

November 29, 2021

“I am selling almost all physical possessions. Will own no house.” 

Democrats Eye Mid-to-Late January as Next Stopgap Deadline

November 29, 2021

House Democrats are considering proposing a fresh stopgap spending measure that would keep the federal government funded through mid-to-late January, according to a person familiar with the matter. 

HILL TAX BRIEFING: Busy December Ahead for Returning Lawmakers

November 29, 2021

Read more: Yellen and Powell set for pair of pandemic oversight hearings this week. OECD working on model rules for a corporate minimum tax. A hedge fund tries to establish itself in a Las Vegas opportunity zone.

Four Smart Ways to Close Out a Baffling Tax Year: Alexis Leondis

November 29, 2021

The countdown to the end of the year always comes with gobs of generic tax advice. Maximize 401(k) contributions. Deplete flexible savings accounts. Lock in stock losses to offset capital gains.

Build Back Better Green Provisions Subject to Budget Sequestration 

November 29, 2021

The Build Back Better reconciliation bill includes a number of green energy and environmental justice provisions. Ike Brannon, a senior fellow at the Jack Kemp Foundation, and Dan Kowalski, owner of Wizard of OZ, say that the new spending is subject to existing budget rules imposed by prior Congresses, including sequestration.

State Dept.: Foreign Per Diem Travel Allowances for December 2021 (IRC §274)

November 29, 2021

Maximum foreign per diem rates for travel reimbursements effective December 1, 2021, published November 29. The government travel reimbursement rates are one element in qualifying company expense reimbursement policies as “accountable plans,” which status means that companies don’t need to put the expense reimbursements on employees’ Form W-2. [Foreign Per Diem Rates In U.S. Dollars (Dec. 1, 2021)]

IRS Form: Health Coverage Tax Credit Comments Requested (IRC §35)

November 29, 2021

Comments requested on Form 14095, The Health Coverage Tax Credit (HCTC) Reimbursement Request Form, which is used by HCTC participants to request reimbursement for health plan premiums paid prior to the commencement of advance payments. Comments are due on or before January 31, 2022. [IRS Comment Request, 86 Fed. Reg. __ (Nov. 30, 2021)]

Week in Insights: Lighting Up the Tax World

November 28, 2021

This week, our experts touched on a wide range of topics, from retirement to the OECD-led global tax agreement. For a look at what's making news, here's our illuminating roundup.

Featured Resources

COST - Council on State Taxation

Amicus Briefs

Rockey and Linda Piazza and Paul Dennucci, as Assignees of Best Buy Stores, Inc. v. Glenn Hegar

On June 2, COST filed a joinder to an amicus brief of the Texas Retailers Association and the National Retail Federation filed in support of the taxpayers’ Motion for Reconsideration.

COST - Council on State Taxation

COST Studies, Articles & Reports

A Global Perspective on U.S. State Sales Tax Systems as a Revenue Source: Inefficient, Ineffective, and Obsolete

The study provides an international perspective on U.S. state and local sales tax systems through a comparison to the primary general consumption taxes in the European Union (the Value-Added Tax (VAT)) and Canada (the Goods and Services Tax/Harmonized Sales Tax (GST/HST) and a few provincial sales taxes).

COST - Council on State Taxation

COST Comments & Testimony

Comments on Assessment Appeals Board Remote Hearings

COST comments on the Board of Equalization’s consideration of procedural and due process issues in Assessment Appeals Boards remote hearings urging that taxpayers have an option for in-person hearings as a fundamental right; and rejection of arbitrary document submission dates and alignment of document submission rules with in-person hearing practices.