The fiscal reality facing states as a result of COVID-19 is accelerating state income tax audits, including an increased emphasis on ones involving transfer pricing. In addition, states are increasingly engaging experienced, independent transfer pricing economists and lawyers to train their auditors, identify taxpayer audit targets, and even calculate transfer pricing adjustments in an effort to even the playing field.
In this environment, it is important to stay informed. KPMG LLP (KPMG) is pleased to invite you to a two-part TaxWatch webcast that will explore transfer pricing at the state level. Part one will focus on:
- The current climate and implications for taxpayers
- Trends in audits at the state level
- State transfer pricing lessons to be considered from the recent Coca-Cola decision
- Leading practices for managing risk in today’s world