Tax Amnesties: Evaluating the Latest State Offers
Analyzing Penalty, Interest, Lookback and Other Terms Amid States' Expanding Nexus Policies
Recording of a 110-minute CPE webinar with Q&A
This course will examine the pros and cons of general state tax amnesties for multi-state business taxpayers, both in the context of an overall tax planning strategy and by analyzing the terms of individual states' upcoming amnesties.
- Factors leading to proliferation of general tax amnesties
- Extreme shortfalls in state and local revenue collections
- Broad expansions of tax nexus-triggering concepts
- Key terms of upcoming and recent state and local amnesties
- 2010 amnesties including Illinois, Pennsylvania, Massachusetts, New York and Washington, D.C.
- 2009 amnesties including Alabama, Arizona, Connecticut, Delaware, Hawaii, Louisiana, Maryland, Maine, New Jersey, Oregon, Virginia, Vermont, Los Angeles, Phoenix and New Orleans
- Interest, penalty, lookback and participation cut-off terms
- Factors influencing a decision to participate or decline an amnesty
- Prospects of reducing total exposure for prior years and avoiding non-participation penalties
- Balanced against relinquishing company’s position against an assessment
The panel will address these and other relevant topics:
- Terms of individual amnesty programs: What are the terms for interest and penalty reductions, lookback periods and cutoff dates for upcoming amnesties, and how do they compare with the 2009 programs?
- Potential advantages: Could your company cut its prior-years obligation in a particular state? If so, by how much, and could it avoid any future proceedings?
- Potential disadvantages: Could your company expose itself to a prolonged lookback and start a domino effect with tougher oversight by other states?
- Evaluating whether to say no: Does your company have a strong case against a tax assessment, or could other avenues than amnesty participation be the smart play?
Director, State and Local Tax
Amper Politziner & Mattia
He has more than 15 years of experience in state and local income and sales and use tax consulting, particularly in... | Read More
He has more than 15 years of experience in state and local income and sales and use tax consulting, particularly in the manufacturing, retail, pharmaceutical and other business sectors. Before coming to Amper, he was a managing director in a tax advisory and consulting firm.Close
He specializes in multi-state taxation, particularly with regard to New York and Connecticut. He has more than 20 years... | Read More
He specializes in multi-state taxation, particularly with regard to New York and Connecticut. He has more than 20 years of public accounting experience, including 17 years as a lead SALT professional with a Big Four firm.Close
Michael A. Jacobs
He is a member of the firm's State Tax Group and his practice emphasizes state tax planning in business... | Read More
He is a member of the firm's State Tax Group and his practice emphasizes state tax planning in business transactions, including tax-free reorganizations, taxable acquisitions and state and local transfer taxes.Close
Her practice is in multi-state taxation, particularly in the state and local tax aspects of business acquisitions,... | Read More
Her practice is in multi-state taxation, particularly in the state and local tax aspects of business acquisitions, dispositions and reorganizations. She has significant experience with nexus, unitary and consolidated reporting, and apportionment issues.Close