Supreme Court Finds Federal Court Challenge to Ohio Tax Benefit Is Barred by Comity

The U.S. Supreme Court ruled June 1 that, under the comity doctrine, a federal lawsuit brought by retail natural gas suppliers that challenges Ohio’s natural gas taxation scheme as unconstitutional must…

Supreme Court Justice Stevens, Author of a Number of Significant Tax Opinions, to Retire

U.S. Supreme Court Justice John Paul Stevens, author of a number of notable tax decisions during his 34-year tenure on the court, announced his retirement April 9…

ANALYSIS: Colorado’s New Law (H.B. 1193): Is This Approach to E-Commerce Taxation the Solution That Cash-Strapped States Have Been Waiting For?

Colorado H.B. 1193, which imposes new reporting requirements on internet retailers, has generated considerable controversy in the state in the wake of Amazon.com’s decision to…

ANALYSIS: With U.S. GAAP/IFRS Convergence Now an SEC Priority, Taxpayers Need to Consider Potential Multistate Impacts

As the financial crisis on Wall Street has subsided, the SEC is shifting its focus back to the proposed convergence of generally accepted accounting principles…

State Combined Reporting Regimes Pose Risks for Foreign Firms Without U.S. Presence

A foreign corporation that has no physical presence in the United States and no obligation to pay federal income taxes could nevertheless incur state tax liability in Massachusetts or Wisconsin under recently enacted combined reporting regimes, a panel of tax experts said Feb. 10.

ANALYSIS: Mandatory Combined Reporting a Challenge for State Taxpayers

A number of states have flirted with enacting combined reporting over the last two years for multinational businesses engaging in a unitary business. The most consistent reason states…

ANALYSIS: State Taxes in 2009: The Year in Review

KPMG’s review of state taxation in 2008 began with the quote, “It was the best of times, it was the worst of times …”; in contrast, 2009 generally was the worst of times—from start to finish…