State and local tax forum

State of the states: Fiscal steadiness through economic headwinds

State surpluses and budgets held up surprisingly well during the last few years, but now macroeconomic headwinds are beginning to change the conversation. Will three years of tax cuts, rebates and relatively little base expansion come to a head in FY24? Is the tax-cutting fervor about to become a fever as long-term outlooks shift dramatically? Learn about where we are going and how to plan for uncertainty. 

Presenters:

State of the states: Income taxes

A dynamic shift is affecting how taxpayers should approach personal and business income taxes. Lower rates have spread quickly, and pass-through entity elections have been adopted in almost every state. Meanwhile, state legislatures are largely recognizing the unnecessary complexity of corporate income taxes, and they’re looking to shift tax collections to gross receipts or other types of tax regimes. With widespread nexus changes and the slow death of P.L. 86-272, tax planning in the 2020s is a far cry from decades past. Learn what this means for you.

Presenters:

Sherri York, Partner, RSM US LLP

State of the states: Transaction taxes

Sales and use taxes are becoming a larger component of state budgets and a larger risk for businesses. Taxation of the digital economy and blockchain, the unending response to Wayfair, and increasing filing complexity are moving businesses to think more about efficient processes and better risk management. Transaction taxes continue to get more complicated and nuanced. Our SALT transaction tax professionals will discuss how recent developments can affect a business’s bottom line.

Presenters:

Trevor Jones, Manager, RSM US LLP