Navigating the Apportionment Landscape After Maryland v. Wynne: Maximizing Tax Credit Opportunities

Recording of a 110-minute CPE webinar with Q&A


Conducted on Thursday, January 21, 2016

Recorded event now available

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Program Materials

This webinar will provide state tax professionals with an update of the latest trends in state apportionment issues after the U.S. Supreme Court’s landmark decision in Comptroller of the Treasury of Maryland v. Wynne. The Court’s holding provided a major victory for individual taxpayers who receive income from multiple jurisdictions, and will positively impact similarly situated taxpayers in other jurisdictions. Tax advisers must be aware of the evolving nature of apportionment to avoid paying excess and unnecessary tax.

Description

The May 18, 2015, Supreme Court decision in Comptroller of the Treasury of Maryland v. Wynne was a major victory for taxpayers. Already, in reaction to the Court’s holding, other states’ taxpayers are challenging apportionment formulas that they claim violate the Commerce Clause under similar reasoning to that used by the Court in deciding Wynne.

Tax advisers serving multistate businesses and individual taxpayers may be significantly, and positively, impacted by the Court’s ruling. Beyond the local implications, the Wynne decision impacts other states that do not offer exact credits to residents for all income taxes paid. Tax advisers should be vigilant in examining whether valid refund claims or challenges exist in the wake of the Court’s decision.

Tax professionals should examine the apportionment landscape in the aftermath of the Wynne holding and keep up with various states’ nonresident tax credit practices. Commentators are already expecting changes to apportionment practices in several states, including Tennessee, Massachusetts and New York, as well as other local jurisdictions that impose local income tax.

Listen as our experienced panel discusses the impact of the Wynne decision on multistate tax advisers and practitioners, and provides concrete guidance on how to react to the likely changes in the apportionment landscape in the aftermath of the decision.

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Outline

  1. Wynne holding in detail
  2. Treating other state and local taxes as creditable state tax
  3. Internal consistency test criteria
  4. External consistency test criteria
  5. Changes to apportionment formulas
  6. Criteria and process to claim refunds for taxes paid under previous regime (Maryland and other jurisdictions)

Benefits

The panel will discuss these and other important topics:

  • What was the basis for the apportionment challenge made by the taxpayers?
  • How will the Wynne decision affect multistate tax professionals?
  • Additional apportionment developments after Wynne

Faculty

Christopher L. Doyle
Christopher L. Doyle

Partner
Hodgson Russ

Mr. Doyle leads his firm's SALT team. His practice spans most tax matters, but focuses primarily on New York...  |  Read More

Debra Silverman Herman
Debra Silverman Herman

Partner
Hodgson Russ

Ms. Herman is widely recognized for her experience in state and local taxation. She works with a variety of...  |  Read More

Alexandra P.E. Sampson
Alexandra P.E. Sampson

Reed Smith

Ms. Sampson  is a member of the firm's State Tax Group. Her practice includes state and local tax...  |  Read More

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