The City of Chicago recently issued nexus guidance and a limited safe harbor for City tax purposes in light of the US Supreme Court’s pivotal South Dakota v. Wayfair ruling and the State of Illinois’ statutory economic nexus standards. True to form, the City implemented its new nexus standards by executive action via publication of a “nexus and safe harbor” “information bulletin” on its website, as opposed to the Chicago City Council more formally adopting a new ordinance.
The Multistate Tax Commission (MTC) is set to revamp its transfer pricing collaboration and enforcement initiatives following the first public meeting of its State Intercompany Transactions Advisory Service (SITAS) Committee in over four years.
On 7 October 2020, the Baker McKenzie State and Local Tax (SALT) Subpractice Group covered the latest coast-to-coast state and local tax developments.
Recently, two states unveiled transfer pricing enforcement tactics to, in their view, combat improper intercompany profit shifting.
The Baker McKenzie State and Local Tax (SALT) Subpractice Group presented “False Claims Act and SALT”, the eleventh in a series of short webinars to keep members of the SALT community abreast of recent developments in these less than certain times on 3 June 2020.
Read publication We are pleased to enclose the February issue of Tax News and Developments, a publication of Baker McKenzie’s North America Tax Practice Group. This month’s edition features a discussion on three Tax Court opinions under section 6751 (b), final withholding regulations, a review of final and proposed BEAT…