COST’s 52nd Annual Meeting
Las Vegas, NV
Blank Rome State + Local Tax Partners Mitchell A. Newmark, Craig B. Fields, and Nicole L. Johnson and Of Counsel Eugene J. Gibilaro will serve as panelists at the Council on State Taxation’s (“COST”) 52nd Annual Meeting, which will be held October 17 through 20, 2021, in Las Vegas, Nevada. Blank Rome LLP is pleased to be a sponsor of the program.
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 state and local tax (“SALT”) issues. CLE/CPE credit is available.
NOTE: This program is being held as a hybrid meeting with both in-person and virtual participants. The In-Person Meeting will contain more sessions than the Virtual Webinar.
Mitchell Newmark: “GILTI and Renewed State Efforts to Tax Foreign Source Income”
Monday, October 18, 10:15–11:05 a.m.
State tax conformity with Global Intangible Low-Tax Income (“GILTI”) has been one of the most controversial state tax issues arising from the Tax Cuts and Jobs Act (“TCJA”). This panel will review state conformity and decoupling from GILTI as well as emerging compliance and apportionment issues. The panelists will also discuss the implications of the Biden administration’s proposals to expand the taxation of GILTI. Finally, the panel will address the potential for renewed state efforts to impose mandatory worldwide combination.
Craig Fields: “Combined/Unitary Reporting—States’ Increasing but Varied Adoption”
Monday, October 18, 4:20–5:10 p.m.
Every year additional states consider switching from separate reporting to combined reporting statutes. This session will provide an update on new state combined reporting legislation. The panelists will also discuss evolving issues relating to current combined reporting statutes, including treatment of 80-20 companies and other tax base and apportionment considerations.
Nicole Johnson: “Federal Tax Changes—Taking into Account the Impact of External Changes”
Wednesday, October 20, 2021, 9:40–10:30 a.m.
The last five years have been a tax professional’s dream/nightmare regarding federal tax changes and the effect on state corporate income taxes. These changes, both legislative and judicial, have created uncertainty and novel complexities for state tax compliance. It is also unlikely that we have seen the end of such changes. This session will: briefly review the most salient federal tax changes affecting state corporate income tax calculations; analyze the different results among the states in applying or decoupling from the federal legislative changes; discuss the existing and expected challenges to some states’ adoption of the federal changes, including apportionment and foreign commerce clause issues; consider the effect of federal tax cases on state tax challenges; and, prognosticate regarding how on-going federal and international proposals’ could affect state income tax.
Eugene Gibilaro: “Hidden State Tax Traps in M&A Opportunities”
Wednesday, October 20, 2021, 11:30 a.m.–12:20 p.m.
Managing state and local tax costs in the first 100 days of a business transaction is of critical importance. Panelists will examine how to recognize and identify select federal/state income tax differences; understand and avoid unintended indirect tax triggering events; and develop alternative structures and steps that can minimize state tax costs
To learn more and to register, please visit the event webpage.