Friday, October 20

2:30PM - 5:30PM

State and Local Taxes

Chair:  Stephanie Anne Lipinski Galland, Thompson Coburn LLP, Washington, DC

2:30pm             Income and Franchise Tax Developments.  Texas changes, proposed revisions to the Illinois franchise tax, Geoffrey overreaching and more.  Panelists:  David A. Fruchtman, Horwood Marcus & Berk Chartered, Chicago, IL; R. Joe Hull, Bracewell & Giuliani LLP, Houston, TX; Fred O. Marcus, Horwood Marcus & Berk Chartered, Chicago, IL.

3:30pm             Practical and Constitutional Problems of Origin Based Local Sales Taxes.  Panel will discuss constitutional problems caused by origin based local sales taxes and destination based local use taxes. Panel will also discuss the practical problems involved with distribution of transaction taxes to local jurisdictions. It will discuss how the origin v. destination local tax problem has hampered the "streamlined sales and use tax" initiative. Moderator:  Whitney Compton, Compton & Associates, Marietta, GA. Panelists:  Arthur Rosen, McDermott Will & Emery, New York, NY; Fred Nicely, Chief Legal Counsel, Ohio  Department of Revenue, Columbus, OH; David Somerville, Sales and Use Tax Supervisor, Texas Comptroller of Public Accounts, Austin, TX.

4:30pm             Enhancing Values: Property Taxation of Intangibles in the 21st Century. The program will address the impact of goodwill, contract rights (including environmental clean up contracts), and other intangibles on the value of taxable property for property tax purposes. Panelists : Charles J. Moll III, Winston & Strawn LLP, San Francisco,CA; R. Bruce Johnson, Commissioner, Utah State Tax Commission, Salt Lake City, UT.