Features

OECD Races Toward Completing Final Report on Digital Economy
But two fundamental “pillars” present structural challenges

The Organisation for Economic Co-operation and Development (OECD) is racing toward meeting an ambitious target by the end of the year that could radically change the way all multinational enterprises (MNEs) are taxed. The target—a final report—was set forth in January 2019 under the cover of addressing the digital economy.1… Read more »

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Unilateral Taxation of the Digital Economy
The fight is not over yet—it’s only beginning

Notwithstanding the recent efforts of the G20/OECD Inclusive Framework on BEPS (hereafter the IF) to develop a uniform, multilateral, and consensus-based solution for taxing the digital economy, legislatures and tax administrations around the world continue to propose and enact a host of largely uncoordinated digital services taxes (DSTs) and other… Read more »

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Diving In: Platform Transactions and the OECD Digital Economy Effort
How the Model Rules address tax considerations related to the gig and sharing economy

Although much of the tax world has been focused on the Organisation for Economic Co-operation and Development’s two-pillar framework for addressing the tax challenges arising from the digitalization of the economy, a separate OECD effort with a potentially even broader reach is well underway. On February 19, 2020, the OECD… Read more »

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TEI Roundtable No. 28: The Landmark Tax Legislation’s Impact on International Tax
A 2020 perspective

It’s been a couple of tax cycles since the most comprehensive legislative revisions to the tax code in more than three decades were enacted. To take a look back, focus on the present, and take a quick look at the future concerning its impact on international tax issues, we convened… Read more »

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Deftly Navigating an MTC Audit: Considerations for Taxpayers
Check out this stat: In the last three years, the MTC Audit Program has recommended state tax assessments in excess of $45 million annually

As recently recognized by Tax Analysts, the Multistate Tax Commission (MTC) has been gaining in prominence and, arguably, effectiveness.1 One of the MTC’s several activities is to administer audits on behalf of states. The MTC’s Joint Audit Program (Audit Program) is authorized by the Multistate Tax Compact and was initiated… Read more »

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Life (and Litigation) After Wayfair
Did Wayfair establish South Dakota SB 106 as the new bright-line rule?

In the May/June 2018 edition of Tax Executive, TEI graciously published my article titled “Why Wayfair Won’t Matter.” Admittedly, the title was a bit deceiving, what millennials disparagingly refer to as “clickbait.” Contrary to the title’s suggestion, I did not argue that the palpable buzz around Wayfair was unwarranted. Instead,… Read more »

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TEI Roundtable No. 27: State Tax Issues, 2019–2020
In general, taxpayers want more guidance

In the last few years, there’s been a discernable focus on federal tax issues in the wake of the passage of the most comprehensive tax reform package in three decades. But much of the action is taking place in state legislatures and state departments of taxation. We wanted to get… Read more »

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Looking Ahead: Predictions on Upcoming State Tax Legislation
Key drivers are state economy and gubernatorial election cycle

With the turn of the new year and a new decade, it is only natural to try to predict what state tax legislation may become law in 2020. Many factors can affect the nature and pace of state tax legislation, but perhaps the two leading drivers are the state economy… Read more »

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Don’t Throw Out New Jersey Throwout Cases
Why? It’s really a national issue

The New Jersey throwout wins are more nationally relevant than ever, even though New Jersey repealed the throwout provision in its Corporation Business Tax Act nearly a decade ago. “Throwout” takes its name from the requirement that receipts be removed from (or “thrown out” of) a company’s sales factor denominator… Read more »

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Addressing Proposed Section 382 Regulations in Current M&A Transactions
These revisions will impact deal terms and valuation

In September 2019, the Internal Revenue Service (IRS) and the Treasury Department issued proposed Section 382 regulations that, when finalized, would significantly reduce the value of net operating losses (NOLs) following Section 382 ownership changes, including those that occur in connection with mergers and acquisitions.1 In particular, the proposed regulations… Read more »

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