Printer Friendly

State and local tax work load becoming burdensome.

A Coopers & Lybrand survey of financial executives in companies with revenues of $30 million or more found that 52% believed the increase in the amount of time spent on state and local tax management over the last two to three years was greater than the corresponding increase for federal tax management.

Of those spending more time on state and local taxes, increased compliance requirements and in creased enforcement were each cited by 43% of the respondents as primary causes of the escalating work load. Of the companies surveyed, 86% were audited by at least one state in the past 12 months. On average, the companies were audited by 5.4 states in the preceding year.

Michael G. Persh, controller of NYNEX-AGS Federal Systems, Inc., Rockville, Maryland, agreed that administering state and local taxes is becoming more of a burden. "The state and local tax departments are becoming more aggressive," he said. As a result, "we must keep more records, respond to more inquiries and assist in more audit work."
COPYRIGHT 1993 American Institute of CPA's
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Journal of Accountancy
Article Type:Brief Article
Date:Dec 1, 1993
Words:169
Previous Article:New forms introduced for small business loans.
Next Article:ITC review defuses U.S.-EC antidumping dispute.
Topics:


Related Articles
Hendrick voices industry's concerns to mines ministers.
TEI files amicus brief on state taxation of mail-order sales.
Bona fide resident status for the earned income exclusion is now available to foreign nationals under certain U.S. treaties.
Working with the media.
Letter to President Clinton on Barclays case.
FTA Task Force on Electronic Data Interchange: a status report.
The Republican way: Watts legislation aimed at community renewal.
Should the CEO be required to sign the corporate tax return? Should the economic substance doctrine be codified? TEI resoundingly responds "no"...
A case for updating P.L. 86-272.
Building an enduring network.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters