Author: Tax Executive Staff
Cost-of-Performance Versus Market-Based Sourcing
The Expert: Jamie Yesnowitz
Calculating how to source sales to determine a company’s state corporate income tax sales factor (and overall apportionment factor) drives how much that company ultimately will pay in tax to the states. The basis of the economy has shifted over time from the sale of goods toward the sale of…
The New Front Line: Transaction Taxes on Services
The Expert: David A. Fruchtman
In South Dakota v. Wayfair, Inc.,1 the U.S. Supreme Court cleared a path for states to impose sales and use tax collection and remittance obligations on out-of-state businesses lacking physical presence within the state. Notably, the Court’s decision applies to all subnational transaction taxes. Moreover, in the decision the Court…
Ford Motor and CSC Corptax Tackle Significant Filing Methodology Issue
This is the third installment of our Tax Technology Corner. As a corporate tax professional, you know how important technology is and how it’s evolving at warp speed. With new regulatory and compliance initiatives in the federal, state, and international areas, landmark tax reform legislation, and globalization of tax monitoring… Read more »
States Jump on Economic Nexus Bandwagon, But Questions Remain
On June 21, 2018, the Supreme Court issued its decision in South Dakota v. Wayfair, overturning the longstanding physical presence requirement for sales and use tax nexus. Now, under Wayfair, a state can require a company to collect and remit sales or use tax on the basis of the company’s… Read more »
TEI Roundtable No. 24: Putting SALT on the Table
Corporate tax professionals face a plethora of vexing state and local issues
Digitization, human capital, greater efficiency, tax reform, Wayfair. To corporate tax professionals plying their trade in the state and local space, these aren’t just buzzwords. They’re challenges and opportunities that dominate their daily activities. So, what keeps these SALT professionals up at night? To address these issues, we convened a…
Nexus: Reports of Its Death Are Clearly Premature
Nexus must still be addressed before taxes can be imposed
In the wake of South Dakota v. Wayfair Inc.1 and the U.S. Supreme Court’s endorsement of economic nexus, a subject of wide discussion has been whether nexus issues are dead in the context of sales tax and corporate income tax. Two recent developments indicate that, while the framework for analyzing…
Technology and Automation: A Road Map for State and Local Tax Professionals
Challenges include spreadsheet-based calculations, manual tax software inputs and overrides, and cumbersome work papers
Tax functions today are under increased pressure to make processes more efficient and ensure proper compliance and reporting, while still taking time to analyze and synthesize growing volumes of raw data to provide more strategic insights. Predictably, the increased focus on analytics and strategic reporting drives the need for organizations…
OECD Corporate Tax Rate Update
Several significant shake-ups to tax codes around the world, especially in the United States, Belgium, and Latvia, among others, leave us with a global landscape that differs significantly from that of 2017. In the March/April 2018 issue of Tax Executive, we printed the 2017 statutory corporate income tax rates for… Read more »
Sales Tax Traps for Disregarded Entities Sales tax rules can be confusing, because states often take…
Overreliance on AI for Tax Advice: A Cautionary Perspective With the increasing popularity of artificial intelligence (AI), many people…
TEI Tax Technology Seminar Set to Deliver Once Again Each year, TEI’s Tax Technology Seminar brings together in-house tax…
How Is Tax Policy Shaping the Future of Clean Energy Investment? US electricity demand is accelerating at a pace few anticipated.…
Considerations in Tax Refund Litigation The Internal Revenue Service has seen unprecedented changes this year.…
The Unconstitutionality of the Brazilian QDMTT On December 30, 2024, the government of Brazil published Law…