McDermott Will & Emery
Subscribe to McDermott Will & Emery's PostsAn End to the Madness? Delaware Bill Introduced to End Contingent Fee Unclaimed Property Audits
By McDermott Will & Emery, Diann Smith and Stephen P. Kranz on May 20, 2014
Posted In Delaware, Unclaimed Property
Any holder who has been involved in an unclaimed property audit has experienced frustration when dealing with third party contingent fee auditors. Delaware’s increasing aggressiveness in collecting unclaimed property has been inextricably tied to the use of these auditors, who are known for taking liberties with unclaimed property laws, harassing holders and inflating the values...
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Oklahoma Supreme Court KOs the Constitution
By McDermott Will & Emery, Diann Smith and Stephen P. Kranz on May 5, 2014
Posted In Constitutional Issues, Incentives, Income Tax, Nationwide Importance, Oklahoma, Tax Base
On April 22, the Supreme Court of Oklahoma released its opinion in CDR Systems Corp. v. Oklahoma Tax Commission. Case No. 109,886; 2014 OK 31. The Oklahoma Supreme Court, overturning the decision of the Court of Civil Appeals, held that an Oklahoma statute, which grants a deduction for income from gains that result from the...
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MTC State Transfer Pricing Program Looms on the Horizon
By McDermott Will & Emery, Diann Smith and Stephen P. Kranz on Apr 7, 2014
Posted In Nationwide Importance, Transfer Pricing
More formal, rigorous, and perhaps more frequent, state transfer pricing audits appear to be looming on the horizon, as the Multistate Tax Commission (MTC) is set to launch a design and development project tasked with presenting a preliminary draft program by year’s end, with a final program recommendation due by the MTC’s annual meeting in...
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Voiding of Illinois Sales Tax Regulation Leads to Prospective Uncertainty for Sourcing Sales
By McDermott Will & Emery and Catherine A. Battin on Nov 25, 2013
Posted In Illinois, Sales Tax
The Illinois Supreme Court recently struck down an Illinois Department of Revenue (Department) regulation sourcing sales to the location of order acceptance. While the Supreme Court found that the Taxpayers’ Bill of Rights protected the taxpayer from retrospective liability, going forward, Illinois retailers need to closely evaluate their filing positions. The decision will lead to...
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