Stephen P. Kranz
Subscribe to Stephen P. Kranz's PostsStephen (Steve) P. Kranz is a tax lawyer who solves tax problems differently. Over the course of his extensive career, Steve has acquired specific skills and developed a unique approach that helps clients develop and implement holistic solutions to all varieties of tax problems. He combines strategic thinking with effective skills for the courtroom, the statehouse and the conference room. Read Stephen Kranz's full bio.
Connecticut Will Make You Disclose Personal Customer Data!
By Diann Smith, Eric D. Carstens and Stephen P. Kranz on Jul 6, 2017
Posted In Connecticut, Constitutional Issues, Nationwide Importance, Nexus, North Carolina, Sales Tax
The Connecticut Department of Revenue Services (DRS) recently issued demand letters to many remote sellers requiring that they either: (a) provide electronic sales records for all individual sales shipped to a Connecticut address over the past three calendar years; or (b) register to collect and remit Connecticut sales and use tax. This action is consistent...
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BREAKING NEWS: Expanded “Physical Presence” Codification Bill Introduced in House
By McDermott Will & Emery, Eric D. Carstens and Stephen P. Kranz on Jun 13, 2017
Posted In Audits, Constitutional Issues, Nationwide Importance, Nexus, Sales Tax, Transaction Taxes
On, June 12, 2017, the No Regulation Without Representation Act of 2017 was introduced by Congressman Jim Sensenbrenner (R-WI) with House Judiciary Chairman Bob Goodlatte (R-VA) as one of seven original co-sponsors. As described in detail below, the scope and applicability of the “physical presence” requirement in the 2017 bill is significantly broader than the...
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Substitute Alert ‒ Delaware Technical Corrections Bill
By Diann Smith, Eric D. Carstens and Stephen P. Kranz on Jun 6, 2017
Posted In Audits, Delaware, Interest and Penalties, Unclaimed Property
Last Friday, the Delaware Senate released a substituted version of the bill (Senate Bill 79) introduced last month as a technical corrections bill to Senate Bill 13—the unclaimed property rewrite legislation enacted earlier this year. The Senate substitute differs from the introduced version of Senate Bill 79 as follows: It does not strike § 1147(a)—the provision...
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Illinois UP Bill Would Retroactively Require Reporting of Gift Cards and B2B Transactions
By Diann Smith, Eric D. Carstens and Stephen P. Kranz on Apr 25, 2017
Posted In Constitutional Issues, Illinois, Nationwide Importance, Unclaimed Property
Earlier this year, an unclaimed property rewrite bill (HB 2603) was introduced in the Illinois House that would require holders to retroactively report a number of property types currently exempt. The provision would require a retroactive period of 10 report years. Items that are currently exempt that would become reportable include gift cards and property...
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DC Council Introduces False Claims Expansion – Taxpayers Beware!
By Diann Smith, Eric D. Carstens and Stephen P. Kranz on Apr 24, 2017
Posted In District of Columbia, False Claims Act, Michigan, Nationwide Importance, Procedure
Last month, a bill (The False Claims Amendment Act of 2017, B22-0166) was introduced by District of Columbia Councilmember Mary Cheh that would allow tax-related false claims against large taxpayers. Co-sponsors of the bill include Chairman Jack Evans and Councilmember Anita Bonds. Specifically, the bill would amend the existing false claims statute to expressly authorize...
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Delaware Proposes Unclaimed Property Regulations – No April Fools
By Diann Smith, Eric D. Carstens and Stephen P. Kranz on Apr 7, 2017
Posted In Audits, Constitutional Issues, Delaware, Nationwide Importance, Procedure, Unclaimed Property
On Saturday, April 1, 2017, the Delaware Department of Finance (DOF) promulgated two regulations that would repeal all existing unclaimed property regulations and replace them with a single DOF regulation containing a revised Reporting and Examination Manual. The Secretary of State (SOS) also promulgated a regulation that outlines the method of estimation to be used...
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Unclaimed Property Gift Card Legislation to Watch
By Diann Smith, Eric D. Carstens and Stephen P. Kranz on Feb 7, 2017
Posted In New Hampshire, Oregon, Unclaimed Property
Most states are well off to the races with their 2017 legislative sessions and several states have gift card legislation pending that would impact unclaimed property holders. Oregon On January 9, 2017, a bill (SB 113) was introduced in the Senate that would create a new unclaimed property reporting obligation for gift cards, which would apply...
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Breaking News: Unclaimed Property Legislation Passes Delaware General Assembly
By Diann Smith, Eric D. Carstens and Stephen P. Kranz on Jan 26, 2017
Posted In Delaware, Nationwide Importance, Procedure, Uncategorized, Unclaimed Property
On January 26, 2017, the Delaware House approved comprehensive unclaimed property rewrite legislation (SB 13) that was passed by the Senate (with committee amendments) last week. Our summary of many of the key provisions of the bill (as introduced) is available here. Because the amended version of SB 13 has now passed both chambers of...
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NCSL Task Force on SALT Meets in Anticipation of Active Legislative Sessions
By McDermott Will & Emery, Eric D. Carstens and Stephen P. Kranz on Jan 17, 2017
Posted In Audits, Constitutional Issues, Federal Tax, Income Tax, Nationwide Importance, Nexus, Sales Tax, Tax Base, Transaction Taxes
On Saturday, January 14, the National Conference of State Legislatures (NCSL) Task Force on State and Local Taxation (Task Force) met in Scottsdale, Arizona to discuss many of the key legislative issues that are likely to be considered by states in 2017. The Task Force consists of state legislators and staff from 33 states and...
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Breaking News: Delaware Unclaimed Property Legislation – Lipstick on a Pig?
By Diann Smith, Eric D. Carstens and Stephen P. Kranz on Jan 12, 2017
Posted In Delaware, Nationwide Importance, Procedure, Unclaimed Property
The Delaware General Assembly has introduced legislation that would significantly rewrite the Delaware unclaimed property statute by repealing the three current subchapters and replacing them with a single unclaimed property subchapter. This article highlights key proposed changes in the bill. Read the full article.
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