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Biggest changes is State and Local in 15 years - Are you ready?

May 24, 2007

Analysis of:Will FIN48 spark state tax scrutiny | www.cfo.com

FIN 48 impact in State and Local is underestimated! FIN 48 applies to net income tax. The States are moving to economic nexus "doing business standards" The Supreme Court has been asked to hear the MBNA case and may redefine nexus standards and make the substantial nexus bright line test obsolete. Companies who do not proactively prepare for the implication of not only FIN 48 but the cases that are changing the world of State and local will be caught in the backwash of issues. These changes are the biggest in 15 years. And most companies are blissfully unaware of the tsunami coming.

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