| HOME | REGISTRATION | EXHIBITORS | BOARD OF TRUSTEES | ADVISORY BOARD |
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| 12:00 Noon | Registration. Symphony I Foyer. Registration Desk open all day |
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| 12:55 p.m. | Welcome and Introductory Remarks |
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| 1:00 p.m. | ECONOMIC DOWNTURN CHALLENGE – State and Local Tax Revenue Impact of Downturn The U.S. is currently in the worst financial crisis since the Great Depression according to the Secretary of the U.S. Treasury. This means that state and federal government revenues are shrinking while their expenditure demands are in many cases increasing. The federal government can finance its operations at least temporarily through burgeoning budget deficits. At the state level, however, balanced budget requirements mean that states must reduce spending or increase taxes. This puts pressure not only on the overall public fisc, but on economic development incentives that are important to both government and the private sector. This panel will review the challenges and opportunities that the current fiscal climate presents and provide insight into solutions and issues confronting taxpayers and the government.
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| 2:00 p.m. | CORPORATE AMERICA´S REACTION TO THE ECONOMIC DOWNTURN Corporate America is also suffering in the current recession and confronting a host of SALT issues related to the tax consequences of the downturn such as cancellation of indebtedness income, attribute reduction, and NOL preservation. This session will examine how corporations are being affected and how they are addressing these issues.
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| 3:00 p.m. | Break. Symphony II and III Foyers |
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| 3:15 p.m. | CORPORATE TAX PLANNING IN RECESSIONARY TIMES With corporate America experiencing losses and cash flow being at a premium, interest has turned to non-income or "cash" taxes, such as state franchise taxes, gross receipts taxes and similar such taxes, and the various means of reducing the same. The panel will discuss the hot issues of the day that taxpayers should be aware of in these difficult times.
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| 4:05 p.m. | PROMISES MADE/PROMISES BROKEN – Planning for State and Local Tax Incentives in Recessionary Time The negotiation of state tax incentives involves a company providing clear plans for expansion of its property and payroll in a state which plans were made when the economy was humming and such plans seemed assured of being achieved. With the current economic climate, many companies who have negotiated such incentives are confronting the possibility that they will not achieve those goals, or at least not in the time frame upon which the incentives were awarded. This presentation will focus on the issues that arise in that context and on possible ways to plan to avoid losing those incentives.
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| 4:55 p.m. | DISPOSITIONS, ACQUISITIONS AND REORGANIZATIONS - A Multitude of State Tax Issues to Consider Multistate state and local tax experts will provide an overview of the key issues to consider in dispositions, acquisitions and reorganizations including: business/nonbusiness income; apportionment; short period filing requirements; tax sharing agreements; division of tax attributes; instant unitary; dividend distributions; transferee liability, and California´s DISA reporting requirement.
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| 5:15 p.m. | Adjourn. |
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ESTIMATED TOTAL CONTINUING EDUCATION CREDIT HOURS AVAILABLE 270 Minutes 50-Minute Hour: 5.4 Hours (5.0 Hours calculated according to the National Registry of CPE Sponsors Requirements) 60-Minute Hour: 4.5 Hours |
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HOT TOPICS IN SALES TAXES
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| 12:00 Noon | Registration. Symphony I Foyer. Registration Desk open all day. |
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| 12:55 p.m. | Welcome and Introductory Remarks |
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| 1:00 p.m. | HOT TOPICS IN SALES/USE TAXES – Major Developments This panel will address the most current trends and "hot" issues facing taxpayers in the area of sales and use taxes. Included in this discussion will be recent legislation, court decisions and administrative matters affecting taxpayers.
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| 2:00 p.m. | AUDIT TRENDS –Discovery A panel of speakers from taxing authorities and public accounting will provide practical insight regarding current trends and issues on state transaction tax audits. The discussion will also touch on best practices and suggestions to facilitate these audits for both the taxpayer and the auditor.
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| 3:00 p.m. | Break. Symphony II and III Foyers |
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| 3:15 p.m. | ACCOUNTING FOR SALES/USE TAXES: UPDATE OF FAS 5 – Enough with the Theory Already! This panel will be addressing the practical issues surrounding FAS 5 sales tax reserves. You recognize that you have un-captured sales or use tax liabilities; but, how do you go about quantifying - and reserving for - exposure related to a legacy exemption certificate problem or a historical use tax accrual deficiency? Can I "reserve" as I go ? estimated based on monthly or quarterly activity? What about using past audit results for future audit reserves? This panel will answer these questions and more for you in a session designed for those who get their hands dirty when it´s time to reserve for sales and use tax liabilities.
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| 4:05 p.m. | TAXATION IN THE DIGITAL AGE Very few issues have received as much attention recently as the tax issues associated with Internet transactions and the sale of software and digital goods. This program will provide an in-depth analysis of the income and sales tax issues associated with e-commerce transactions, including, but not limited to, nexus, sourcing of receipts from sales of software and digital goods, sales taxation of software and digital goods, and the impact of the Internet Tax Freedom Act. In addition, this program will examine how the Streamlined Sales and Use Tax Agreement addresses the sales tax issues.
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| 4:55 p.m. | SALES AND USE TAX SOURCING OF SERVICES More and more states are attempting to expand their sales and use tax base to tax services - both legislatively and via policy decisions. This session will focus on those types of services that states are continuously attempting to tax, including "services necessary to complete the sale." This session will also address the dreaded sourcing issue, including how to source services that are used in multiple states. This session will focus on current developments in this area, and provide tips to structure your purchases of services to minimize sales and use taxes and audit risk.
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| 5:45 p.m. | Adjourn. |
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ESTIMATED TOTAL CONTINUING EDUCATION CREDIT HOURS AVAILABLE 270 Minutes 50-Minute Hour: 5.4 Hours (5.0 Hours calculated according to the National Registry of CPE Sponsors Requirements) 60-Minute Hour: 4.5 Hours |
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| 5:00 to 7:00 p.m. | PRE-REGISTRATION. Registrants for THURSDAY/FRIDAY may pick up program materials at Registration Desk. |
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| 5:30 to 7:00 p.m. | RECEPTION. Skylight Foyer, Mezzanine
Co-hosted by Waller Lansden Dortch & Davis, LLP, Nashville, Tennessee, and Crowe Horwath LLP, Brentwood, Tennessee |
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| 7:00 a.m. | Registration. Symphony I Foyer. Registration Desk open all day. |
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| 7:15 to 8:00 a.m. | Continental Breakfast. Symphony II and III Foyers |
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| 7:55 a.m. | Welcome and Introductory Remarks.
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| 8:00 a.m. | STATE TAXATION OF FLOW-THROUGH ENTITIES AND THEIR OWNERS Leading experts in this area provide an overview of the state taxation of flow-through entities and their owners, focusing on significant recent developments and interesting quirks.
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| 8:50 a.m. | ETHICAL CONSIDERATIONS IN TAXPAYER/DEPARTMENT OF REVENUE INTERACTION This session will explore ethical issues that arise in typical taxpayer/department of revenue communications, including the attorney client privilege and attorney work product doctrine as it applies to tax accrual work papers. The speakers will also address other thorny ethical issues that may surface during audits, protests or litigation, such as taxpayers taking inconsistent positions in different states or a department of revenue not following an adverse court decision for other taxpayers.
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| 9:50 a.m. | ALTERNATIVE APPORTIONMENT In today´s economy, more and more business operations just don´t fit into the standard apportionment rules and regulations. This session will cover UDITPA Section 18 (alternative apportionment methods), how the states address the issue, the procedures and steps required to obtain an alternative apportionment methodology and what to expect once you apply. Each state will approach the topic differently. Our presenters will discuss their experience and what companies need to demonstrate to the state in order to be successful.
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| 10:40 a.m. | Break. Symphony II and III Foyers |
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| 10:55 a.m. | COST OF PERFORMANCE This panel will focus on what is perhaps the most difficult issue within the existing UDITPA: costs of performance. There is very little guidance concerning such fundamentals as historic costs; what current costs are taken into account as "direct costs"; what to do with costs incurred by affiliates and third parties on behalf of the taxpayer; proper sourcing of wholesale versus retail service receipts; and whether the costs for service providers differ from those arising from intangibles. Does the "winner take all" approach make any sense? Are industry-specific deviations from cost of performance appropriate? Will cost of performance survive, given the use of destination sourcing for tangible property?
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| 11:45 a.m. | ADDING BACK? THROWING OUT? JUST COMBINE US ALREADY! As a growing number of states have put in place expense disallowance regimes and throw out apportionment formulas, many tax administrators and even some taxpayers have questioned whether they would prefer unitary combined reporting. The speakers will compare the substantive and procedural issues associated with evolving separate reporting regimes versus combined reporting.
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| 12:35 p.m. | Lunch. Symphony III Ballroom |
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| 1:05 p.m. | A PRACTICAL REACTION TO COMBINED REPORTING In the last few years, many states have considered and some have adopted combined reporting tax regimes. With the advent of the economic downturn, some states have begun to question whether combined reporting is the goose that laid the golden egg or simply a goose. Bill Fox and Doug Lindholm join forces to ponder this and many other such issues as states struggle to keep their budgets balanced.
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| 1:35 p.m. | ECONOMIC DOWNTURN ISSUES The U.S. is currently in the worst financial crisis since the Great Depression according to the Secretary of the U.S. Treasury. This means that state and federal government revenues are shrinking while their expenditure demands are in many cases increasing. The federal government can finance its operations at least temporarily through burgeoning budget deficits. At the state level, however, balanced budget requirements mean that states must reduce spending or increase taxes. This puts pressure not only on the overall public fisc, but on economic development incentives that are important to both government and the private sector. This panel will review the challenges and opportunities that the current fiscal climate presents and provide insight into solutions and issues confronting taxpayers and the government.
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| 2:35 p.m. | UNIQUE LITIGATION OPTIONS As the economy worsens, state revenue department audit and assessment activity appears to be increasing, so taxpayers are facing more state tax litigation. Come hear about unique litigation opportunities that are sometimes available to the taxpayer or governmental authorities -- including real-life examples of their application. Topics include: federal court, section 1983 actions, coalitions, qui tam defense, administrative protests with litigation in mind, litigation with settlement in mind, and fee recovery.
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| 3:25 p.m. | Break. Symphony II and III Foyers |
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| 3:40 p.m. | STAYING AFLOAT IN A SEA OF CHANGE - Practical Approaches to GAAP - IFRS Convergence This panel will discuss the practical problems and pitfalls in the state and local tax arena with the advent of the GAAP - IFRS convergence as well as addressing certain other "hot topics" in financial reporting as tax executives continue to struggle with the implications of FAS 109 (including FIN 48).
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| 4:25 p.m. | MOOT COURT: Town Fair Tire Center Whether Massachusetts can require a New Hampshire retailer to collect Massachusetts use tax on tires sold and installed in New Hampshire on customers´ motor vehicles with Massachusetts license plates and inspection stickers.
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| 5:40 p.m. | Adjourn. |
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| 5:30 to 7:00 p.m. | Reception. Skylight Foyer, Mezzanine. Co-hosted by Bass, Berry & Sims, PLC, Nashville, Tennessee, and Jones Walker, New Orleans, Louisiana |
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ESTIMATED TOTAL CONTINUING EDUCATION CREDIT HOURS AVAILABLE THURSDAY - 520 Minutes (60 Minutes Ethics*) 50-Minute Hour: 10.4 Hours (1.2 Ethics hours*) (10.0 Hours, 1.0 Ethics hour*, calculated according to the National Registry of CPE Sponsors Requirements) 60-Minute Hour: 8.67 Hours (1.0 Ethics hour*) * Ethics Hours are subject to approval by the controlling State Board(s) and are included in the total hours provided. |
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| 7:00 a.m. | Registration. Symphony I Foyer. Registration Desk open all day. |
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| 7:00 to 8:00 a.m. | Continental Breakfast. Symphony II and III Foyers |
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| 8:00 a.m. | THE ENDLESS FIGHT FOR JUSTICE - Two Views
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| 9:00 a.m. | STATE TAX SETTLEMENT AGREEMENTS – Including Voluntary Disclosures This presentation will focus on state tax settlement agreements and the many forms of those agreements depending on the state, the appeal level and the parties´ objectives. Voluntary disclosure is a method that may be used to resolve potential tax exposure for prior years and to avoid penalties and, in some cases, interest on the tax liability. These types of agreements may be used by taxpayers to resolve contentious state tax issues (for example, tax nexus, intercompany expense deduction and holding company issues) and to file tax reports on a prospective basis with a "clean slate." In addition, this presentation would provide information regarding issues that should be considered in all state tax settlement agreements including treatment of subsequent federal RAR adjustments for the tax settlement period and the computation of tax attributes for future tax periods.
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| 10:00 a.m. | Break. Symphony II and III Foyers |
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| 10:15 a.m. | TOP TEN CASES Given the state of the states, it is not unlikely to anticipate an increase in state tax litigation. Here are ten cases to watch as they make their way through the justice system. While a few are at the supreme court level, others are not as far along but could still greatly impact the legal issues applicable to state taxes today.
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| 11:15 a.m. | Lunch. Symphony III Ballroom |
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| 12:15 p.m. | NEXUS! WHAT´S NEW? Economic nexus – do states have to amend their statutes to assert economic nexus? Is the historical interpretation of "Doing Business" by state courts a limitation on economic nexus? New York passed legislation creating "Website Linking Nexus." Is this a new form of "agency nexus" or an unconstitutional statute? The panel will also highlight other important nexus developments.
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| 1:15 p.m. | SOUTHEAST ROUNDTABLE A panel of state and local tax practitioners will discuss hot topics from their respective jurisdictions. The discussion will be very informal and interactive.
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| 3:15 p.m. | Adjourn. |
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ESTIMATED TOTAL CONTINUING EDUCATION CREDIT HOURS AVAILABLE FRIDAY - 360 Minutes 50-Minute Hour: 7.2 Hours (7.0 Hours calculated according to the National Registry of CPE Sponsors Requirements) 60-Minute Hour: 6.00 Hours ESTIMATED TOTAL CONTINUING EDUCATION CREDIT HOURS AVAILABLE THURSDAY & FRIDAY- 880 Minutes (60 Ethics Minutes*) 50-Minute Hour: 17.6 Hours (1.2 Ethics Hours*) (17.5 Hours, 1.0 Ethics Hour*, calculated according to the National Registry of CPE Sponsors Requirements) 60-Minute Hour: 14.67 Hours (1.0 Ethics Hour*) ESTIMATED TOTAL CONTINUING EDUCATION CREDIT HOURS AVAILABLE WEDNESDAY, THURSDAY & FRIDAY - 1150 Minutes (60 Ethics Minutes*) 50-Minute Hour: 23.0 Hours (1.2 Ethics Hours*) (23.0 Hours, 1.0 Ethics Hours*, calculated according to the National Registry of CPE Sponsors Requirements) 60-Minute Hour: 19.17 Hours (1.0 Ethics Hours) * Ethics Hours are subject to approval by the controlling State Board(s) and are included in the total hours provided. |
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