Genetelli :: State and Local Tax Specialists

New York Audit Position on Decombination is a Trap for the Unwary

It has come to my attention that many taxpayers are unaware of New York’s aggressive audit posture with respect to combined filers. By way of background, taxpayers in New York typically file combined returns (with related unitary corporations) when there … Continue reading →

Taxpayers Should Always Consider Whether a State has Exceeded its Authority in Making an Audit Adjustment

Taxpayers often fail to consider whether an audit adjustment is authorized by statute, regulation, or other applicable authority when considering the appropriateness of the adjustment. A recent reminder that state adjustments sometimes exceed the auditor’s scope of authority occurred in … Continue reading →

Massachusetts Case Addresses Validity of Intercompany Debt

The proper implementation of intercompany debt strategies can produce an overall state tax savings for an affiliated group of companies. In order to obtain the desired benefit, intercompany debt transactions should be entered into taking into account certain state mechanisms … Continue reading →

Local Tax Considerations in Today’s Economic Climate: Cities Offering Solutions for Mitigating Nonfiling Exposure

More and more states are offering tax amnesties and voluntary disclosure programs, but few taxpayers realize such benefits are also available at the local level. Recently, Los Angeles announced a voluntary disclosure program for its business tax; Denver is offering … Continue reading →

Combined Reporting Developments Around the Country

The following are some recent combined reporting developments around the country. District of Columbia The District of Columbia has issued a release setting forth combined reporting transitional rules for estimated tax payments for corporations and unincorporated business entities. By way … Continue reading →

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The advantages to our clients are clear:

• We consistently meet client expectations with responsive and personalized service.

• Our clients receive the depth of specialization required to properly address their state and local tax needs as well as business objectives.

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• Our ability to offer seasoned tax professional and partner involvement with every engagement at reasonable rates provides an exceptional value.

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