Upcoming National Meeting

51st Annual Meeting Webinar

This program offers sessions of interest to every state tax professional in industry, whether a COST member or otherwise, as well as in the consulting, accounting and legal profession. The program covers all types of state and local taxes that business taxpayers are confronted with today and provides updates on key SALT issues.

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Newsletters & Media

Cost Conscious

ISSUE 20-21; October 16, 2020

Managing States with the Same Federal Tax Return Deadline – Approximately half of the states require calendar year state corporate income tax returns to be filed on October 15, the same extended due date as calendar year federal tax returns. This problem is compounded by the impact of the pandemic, COVID-19 relief legislation, and continued complexities arising from the Tax Cuts and Jobs Act. Cons

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Bloomberg TAX

Pre-Election Stimulus Hopes Fade With Two Sides Trading Blame

 

President Donald Trump and his aides on Tuesday appeared resigned to waiting until after the election to get a coronavirus stimulus package and put blame on House Speaker Nancy Pelosi for the delay.

Trump Tax Extension Could Cut Millionaires’ IRS Bills by $71,000

 

President Donald Trump hasn’t released a specific tax agenda if he were to be re-elected, but millionaires could reap big benefits if he simply wins an extension of the cuts he signed into law in 2017, according to a new analysis.

Small Businesses Need More Aid to Keep Employees, SBA Chief Says

 

Small businesses need a new round of loans and aid from the government to keep employees working as the pandemic continues to spread, the head of the Small Business Administration said Tuesday.

Blue Wave May Curtail Muni Tax Break, Breckinridge Advisors Says

 

Conventional wisdom says a Joe Biden victory in the presidential election and a Democratic sweep of the U.S. House and Senate would boost state and local government finances and likely lead to higher taxes, increasing the value of the tax-exemption on municipal bonds.

House Republicans Take Aim at State Financial Transaction Taxes

 

States would be barred from taxing the financial transactions of non-residents under a new bill from House Republicans.

Texas Suburbs Tempt Democrats as Route to Expand House Majority

 

Democrats are working to capitalize on down-ballot opportunities in Texas even if they come up short statewide.

New York Democrats See Opportunity to Curb Cuomo's Veto Clout

 

Democrats are positioned to pick up a second supermajority in the New York Legislature, giving lawmakers leverage against Gov. Andrew Cuomo when it comes time to negotiate hard choices about taxing and spending.

Virus Aid Deal Could Be Tough to Reach in Lame Duck

 

As the prospects for a new round of economic aid have slowly faded, attention is increasingly turning to whether a deal might come together in a lame-duck session of Congress, after campaigning has finished.

Mentorship Is Essential to Fixing the 'Women's Recession'

 

In the so-called “women’s recession” brought on by the Covid-19 pandemic, James E. Meadows, co-founder and managing partner of Culhane Meadows PLLC, has some suggestions for how the legal profession can better support women from new associates to the ranks of senior equity partners. He argues that existing mentorship models have not served women well.

Machine Versus the Tax Man: AI Inventors and the Research Tax Credit

 

Artificial intelligence is now involved in the invention process. The U.S. Patent and Trademark Office doesn't want to grant patents for an invention by AI. What happens when the owner of the owner of an AI algorithm attempts to claim a research and development tax credit? Robert Kovacev of Norton Rose Fulbright examines the issues raised for AI-generated inventions under the current requirements for the R&D credit.

Tax Notes

New Jersey Panel Advances Temporary Waiver of Healthcare Tax

 

A New Jersey General Assembly panel has advanced a bill that would waive a tax imposed on some residents without health insurance coverage during the COVID-19 pandemic.

States May Look Internationally When Taxing the Sharing Economy

 

States may begin to look to international tax proposals as they consider how to tax the sharing economy, a panelist predicted.

Federal Court Rules for Tribe in South Dakota Tax Dispute

 

In Flandreau Santee Sioux Tribe v. Terwilliger, the U.S. District Court for the District of South Dakota found that South Dakota cannot impose an excise tax on a non-tribal contractor’s services to renovate and expand a Native American casino.

Pennsylvania Worker Misclassification Task Force Bill Approved

 

Pennsylvania lawmakers have unanimously approved a bill to study employee misclassification and its impacts on tax revenue.

North Dakota Court Strikes Local Board’s Property Tax Decisions

 

In RFM-TREI Jefferson Apartments LLC v. Stark County Board of Commissioners, the North Dakota Supreme Court found that a local board of commissioners improperly adopted excessive assessments in connection with its denials of several property tax abatement applications.

Pennsylvania Legislature Passes Low-Income Housing Tax Credit Bill

 

Pennsylvania legislation to establish a state-level low-income housing tax credit has been sent to the governor.

Minnesota Tax Court Judge Rejects Recusal Request

 

In Supervalu/Columbia II Rockridge Center v. County of Hennepin, a Minnesota Tax Court judge rejected a request for the entire court to recuse itself from three property assessment disputes.

Colorado Fiscal Institute Says Tobacco Tax Measure Is Inequitable

 

A Colorado measure that would increase taxes on tobacco and create a new vaping tax would disproportionately harm low-income people and communities of color, according to the Colorado Fiscal Institute.

Louisiana Supreme Court Upholds Commission’s Valuation Reduction

 

The Louisiana Supreme Court held in D90 Energy LLC v. Jefferson Davis Parish Board of Review that the state tax commission’s reduction of a local assessor’s valuation of wells owned by an oil and gas producer was not arbitrary or capricious.

Texas Appellate Court Vacates Judgment in Property Tax Break Dispute

 

A Texas appellate court has withdrawn a recent opinion that found the city of Dallas was not entitled to a tax exemption on property used for public purposes because it doesn't own the property.

Featured Resources

COST - Council on State Taxation

Amicus Briefs

Level 3 Communications v. Oregon Department of Revenue

In its amicus brief, COST argues that the Tax Court’s decision allowing the imposition of property tax based on the enterprise value of a centrally assessed taxpayer should be reversed because it represents a stark departure from existing law and practice. It would unfairly upend the longstanding and well-settled expectations of centrally assessed businesses that pay property taxes in Oregon.

COST - Council on State Taxation

COST Studies, Articles & Reports

Oregon State and Local Business Tax Burdens

This study, prepared by Ernst & Young LLP in conjunction with the State Tax Research Institute (STRI) presents detailed estimates of the change in business tax burdens for businesses located in Oregon due to state tax changes, which have occurred since January 2020, and the impact of local tax changes for businesses in the Portland-metro region.

COST - Council on State Taxation

COST Comments & Testimony

Letter Re: Governor’s Revised FY2021 Budget – Daily Sales Tax Remittance

COST Urges the Massachusetts Joint Ways and Means Committee to delete from the Governor’s revised FY2021 budget provisions requiring the daily sales tax remittance by card processors.