Upcoming National Meeting

2023 Income Tax Conference & Spring Audit Session

Two and a half day conference combining technical and policy presentations from seasoned professionals focusing on current income and franchise tax issues. In addition, COST’s primary audit session will take place, where current audit information on all 50 states is shared among the membership. The conference is targeted to income and franchise tax professionals at all levels of experience.

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Newsletters & Media

Legislative Alert

ISSUE 23-14; March 28, 2023

COST Opposes Minnesota Legislation Imposing Delivery Fee Imposition; COST Opposes Rhode Island Legislation Requiring 48-Hour Remittance of Tax Payments Collected by Credit Card Companies

Cost Conscious

ISSUE 23-06; March 24, 2023

Treasury Offset Program – Over the last few years, members have shared the difficulties they have encountered when states offset tax liabilities with amounts due from the federal government to the taxpayer through the federal Treasury Offset Program (TOP), particularly its State Reciprocal Program. COST is gauging whether members continue to face issues with TOP. Which of the following best descr

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Bloomberg TAX

IRS PLR: Capital Expenditure, Safe Harbor Elections Extension Granted (IRC §263)

March 31, 2023

The IRS has published a private letter ruling on capitalization of repair and maintenance expenditures and application of the de minimis safe harbor for such expenditures pursuant to Treas. Reg. §1.263(a)-3(n) and §1.263(a)-1(f). [PLR 202313002]

IRS PLR: College Scholarship Grant Program Approved (IRC §4945) (03/31/2023)

March 31, 2023

The IRS has published a private letter ruling on Section 4945 regarding taxes on taxable expenditures. [PLR 202313011]

IRS PLR: Partnership Basis Election Extension Granted (IRC §754)

March 31, 2023

The IRS has published a private letter ruling on Section 754 and Treas. Reg. Section 9100 regarding the manner of electing optional adjustment to basis of partnership property. [PLR 202313001]

IRS PLR: Trust’s Settlement Agreement Won’t Affect Its GST Exempt Status (IRC §2601)

March 31, 2023

The IRS has published a private letter ruling regarding a trust, trustees, and beneficiaries pursuant to the rules for generation-skipping transfer tax, gift tax, gain or loss recognition, and gross income under I.R.C. §2601, §2501, §1001, and §61. [PLR 202313006]

IRS PLR: Low-Income Housing Credit Election for Single-Building Project Extension Granted (IRC §42)

March 31, 2023

The IRS has published a private letter ruling on Section 42 and Teas. Reg. Section 9100 regarding the low-income housing credit. [PLR 202313005]

IRS Updates FAQ for Electric Vehicle Tax Credits

March 31, 2023

The IRS updated its frequently asked questions on the qualified commercial clean vehicle credits in President Joe Biden's tax-and-climate law Friday.

EU Official Calls for Global Tax Deal Implementation by Summer

March 31, 2023

The European Commission wants states to transpose rules to implement a 15% minimum corporate tax rate by the summer to give businesses tax certainty as soon as possible, an official said Friday.

IRS PLR: Generation-Skipping Transfer Election Filing Extension Granted for Trust (IRC §2632)

March 31, 2023

The IRS has published a private letter ruling regarding distribution special rules for allocation of generation-skipping transfer tax exemption under I.R.C. §2632 and §2642. [PLR 202313008]

IRS PLR: Extension to File GILTI High-Tax Exclusion Election Granted (IRC §951A)

March 31, 2023

The IRS has published a private letter ruling on Section 951A regarding global intangible low-taxed income. [PLR 202313007]

IRS PLR: Bequest from Deceased Individual Deemed an Unusual Grant (IRC §170)

March 31, 2023

The IRS has published a private letter ruling on Section 509 and Section 170 regarding private foundations. [PLR 202313010]

Featured Resources

COST - Council on State Taxation

Amicus Briefs

U.S. ex rel. Schutte v. SuperValu, Inc.; U.S. ex rel. Proctor v. Safeway, Inc.

COST and the Taxpayers Federation of Illinois submitted an amicus brief urging the U.S. Supreme Court to affirm the Seventh Circuit’s decisions in United States ex rel. Schutte v. Supervalu Inc. and United States ex rel. Proctor v. Safeway, Inc. In both cases, the Seventh Circuit found that a defendant cannot be liable in a federal False Claims Act (FCA) action if there is an objectively reasonabl

COST - Council on State Taxation

COST Studies, Articles & Reports

2023 State and Local Amnesty Programs

Tracker of most state and local tax amnesty programs enacted and conducted in 2023.

COST - Council on State Taxation

COST Comments & Testimony

Testimony In Support of H.B. 105 – Municipal Income Tax Changes

COST ‘s testimony supports Ohio H.B. 105 which would limit municipal income tax inquiries when a taxpayer has a filing extension and would reduce the penalties for failure to file an income tax or withholding return and seeks amendment to include a one-month extension to businesses filing net profit tax returns.