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 on the challenges, but also be aware of opportunities that exist. KPMG LLP (KPMG) is pleased to invite you to a two-part TaxWatch webcast that will explore transfer pricing at the state level. You can access part one here. Part two will focus on:
- Lessons learned from transfer pricing controversy
- The path forward: addressing the current landscape
- Looking to the future: how business strategy and a dispersed workforce will affect state transfer pricing