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FIN 48 and State Tax Implications of Nexus Determinations

Speaker: Lance S. Jacobs

12/03/2007

Podcast Category: Tax

With financial reporting for income taxes changing under the new standard imposed under FIN 48, the issue of whether a taxpayer has nexus in a particular state sufficient to allow the state to impose an income tax on the taxpayer has garnered a tremendous amount of attention in recent months.

In this podcast with Lance Jacobs, an of counsel with Pepper's Washington office, who focuses his practice on federal, state and local tax matters, Lance discusses the affect on taxpayers as states are imposing taxes based upon economic nexus, reviews recent cases such as West Virginia v. MBNA America and Lanco v. New Jersey, which have created more uncertainty for taxpayers, and describes the affects of FIN 48 on taxpayer filing decisions.