Tax lawyers for large corporations and wealthy individuals expect some busy years ahead as cash-strapped states turn to taxpayers for solutions. Attorneys say the recession has made state and local tax agencies more aggressive, and in the last year, some have begun reinterpreting existing tax code when it brings in more money. "[California] is taking positions to maximize revenue in an aggressive way that they normally would not have done in the past," says Reed Smith partner Brian Toman.
July 22, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Tax lawyers for large corporations and wealthy individuals expect some busy years ahead as cash-strapped states turn to taxpayers for solutions.
Attorneys say the recession has made state and local tax agencies more aggressive, and in the last year, some have begun reinterpreting existing tax code when it brings in more money.
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