Ideas & Insights

Understanding the history of state transfer pricing can help those with intercompany transactions prepare for the future.

State tax increases in various forms seem inevitable because of massive budget shortfalls caused by the pandemic and economic crisis.

Transfer pricing audits are occurring more frequently and are expected to increase as the states look to recover from the pandemic.

Delaware letters advise companies to either participate in the state’s unclaimed property VDA Program or be subject to an audit.

Legislation adopts several new credit and incentives programs as well as creates a new property tax incentive.

The Tennessee Department of Revenue issued guidance on the state’s conformity to section 163(j) of the Internal Revenue Code.

Taxpayers have until Sept. 15, 2020 to participate in the program that may reduce transfer pricing disputes and provide penalty waiver.

The future of state and local incentives in a post-pandemic economy will be highly influenced by remote workforces – states may act soon.

An executive order was issued directing the deferral of payroll tax payments. Follow up guidance from the Treasury Department is expected.

Eligible businesses that did not receive certain other COVID-19 relief may qualify for grants up to $250,000.

New legislation allows nonprofit employers to pay 50% of their unemployment reimbursing payment obligations to states.

The department found the business did not engage in qualifying research or submit proper documentation to substantiate the claim.

Tax law and policy changes may increase state and local taxes for many businesses as states look to make up pandemic shortfalls.

A judge found that taxpayers did not abandon their residency and were therefore still subject to Arkansas personal income tax.

Finalized legislation will evolve but the proposal is a starting point for bipartisan negotiations for a new round of economic relief.

Seattle payroll expense tax to be imposed on employee compensation of at least $150,000 for businesses with $7 million or more in payroll.

The state will decouple from CARES Act net operating loss, interest expense and excess business losses provisions.

The Community Development Financial Institutions Fund announces over $3.5 Billion in New Markets Tax Credit allocation.

Taxpayers that properly secured a first extension may file a request for a second extension on or before Aug. 17, 2020.

California Office of Tax Appeals determined that a construction company could not use a resale certificate for material purchases.