Marketplace Sourcing Spells Tax Headaches and Opportunities for U.S. Business

ARLINGTON, Va., Feb. 24, 2011 /PRNewswire-USNewswire/ -- In recent years, states have moved to more closely align their tax codes with today's service-based economy. For many jurisdictions, this has meant adopting a market-based approach to sourcing sales of services or intangibles where the sale generally is sourced to the location of the customer. Attend Shift to Marketplace Sourcing: State Tax Opportunities and Pitfalls, a new webinar from BNA Tax & Accounting on March 1, 2011, led by state tax expert Jamie Yesnowitz, and find out why this shift is occurring and how it's going to impact today's businesses.

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"Market-based sourcing is likely to create both tax planning opportunities and headaches for taxpayers in the service and financial sectors," says BNA senior tax analyst Steve Roll.  "Complicating matters further, state laws that apply the market-based sourcing approach are quite varied and can yield different results."

In 60 minutes, Mr. Yesnowitz will offer:

• Analysis of traditional cost of performance sourcing rules, and what has driven the shift to market-based sourcing.
• Methods by which states have moved towards market-based sourcing.
• Explanation of the "benefits received" test and other marketplace tests.
• Examples of market-based sourcing rules — historical vs. recent adoption.
• California's distinctive experience in this area.
• Equitable concerns with move to market-based sourcing, and outlook.

Upon completion of this program, participants will be able to:

• Understand the rationale of why states are moving to market-based sourcing.
• Understand the differences between state approaches in sourcing services, including the different incarnations of market-based sourcing.
• Determine whether the shift from cost of performance to market-based sourcing is beneficial.
• Apply relevant principles in this area to live fact patterns, and avoid worst-case scenarios.

About the Speaker

Jamie Yesnowitz is a Senior Manager in Grant Thornton's State and Local Tax (SALT) practice. He supports the SALT Technical Services function and is based in Washington, D.C. In this role, he serves as a national technical resource for Grant Thornton's SALT practice. He follows current developments and hot topics in the SALT world, including state tax legislation and policy, state tax conformity to federal tax provisions, related-party addback rules, disparities in state apportionment rules, and the increased focus by states on the imposition of mandatory unitary combined reporting regimes and corporate taxes based on gross receipts. In addition, he provides support in Grant Thornton's knowledge management and various industry initiatives. Mr. Yesnowitz frequently participates in on-site and webcast presentations directed to national audiences, covering a wide variety of SALT topics. In addition, he has written numerous articles in national publications, including a variety of BNA publications.

The Shift to Marketplace Sourcing: State Tax Opportunities and Pitfalls will take place Tuesday, March 1, 2011, from 2:30 p.m.- 3:30 p.m., ET.  To register for this webinar and obtain further information about CLE and CPE credits, go to http://www.bnatax.com/sales-of-services-webinar/?open&cmpid=tmtxpr2011 or call 1-800-372-1033, menu Option 6, then Option 1.  The per site fee is $249.

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About BNA Tax & Accounting Webinars

BNA Tax & Accounting is the foremost source of tax and accounting research, news, practice tools, and guidance for tax attorneys, CPAs, corporate tax managers, estate planners, and financial accountants.  Designed for today's busy practitioners, our webinars offer the same expertise and relevance that are the hallmark of all BNA Tax & Accounting resources. Conference attendees have the opportunity to ask the speakers questions, and may be eligible to earn CLE or CPE credits - all from the convenience of their own office or conference room.

SOURCE BNA Tax & Accounting