IPT President Robert Butterbaugh, CMI, announces a new addition to the Institute's educational programs -- a Credits and Incentives Symposium. This new program will begin in 2011 and was approved by the IPT Board of Governors at their June 2010 meeting in Phoenix, Arizona. The 2011 Credits and Incentives Symposium will be held November 9 - 11 at the Hyatt Regency Monterey Hotel in Monterey, California, immediately following the 2011 Income and Property Tax Symposia.

The August 2010 issue of IPT's “Tax Report” is now available. This publication is designed to appeal to a broad audience and covers topics previously appearing in the former Income, Property and Sales Tax Reports. In addition to the familiar “President´s Corner,” this issue includes substantive articles of interest to state and local tax professionals, information for CMIs, Career Opportunities, upcoming programs including the Calendar of Events, and the Property Tax Calendar. This new publication was designed to improve communications with the membership and SALT professionals. Member comments and suggestions are welcomed.

Continuing this month, IPT's Tax Report features an article on the Value Added Tax titled “Types of General Sales Taxes”. This month's substantive tax articles are:

Income Tax:

• Potential State Tax Implications of IRS Announcement 2010-9
• New Jersey Appellate Division Finds New Jersey's Throwout Rule Facially Constitutional in Whirlpool

Property Tax:

• Inception and Evolution of Unit Rule Appraisal of Complex Properties in Ad Valorem Taxation

Sales and Use Tax:

• You Can Rent Friends Now - Why Not a Tanning Bed? - The Lighter Side of Taxation

Value Added Tax

• Types of General Sales Taxes

Please click here for your copy of the August “Tax Report”.

Robert D. Butterbaugh, CMI, was elected IPT President at the Annual Business Meeting held at the Annual Conference in Phoenix on June 30, 2010.

Also elected were Linda A. Falcone, CMI, First Vice President, and Paul L. Wilke, CMI, Second Vice President. Joining IPT´s Board of Governors were Christopher S. Hall, CMI, CMA, Chris G. Muntifering, CMI, and Donna Lee Jernigan, CMI, PE.

For a complete list of the Institute's 2010 - 2011 Officers and Board of Governors click here.

Of interest to tax professionals are two studies recently released by the US Government Accountability Office reflecting the bleak condition of public finance at both the federal and state and local levels. The report concludes that: “The state and local government sector continues to face near- and long-term fiscal challenges which grow over time. . . . [T]he March 2010 operating balance measure (including 2009 Recovery Act funds) shows an improvement compared to the January 2009 simulation. In the near-term, the sector´s fiscal position can be attributed to several factors, including steep revenue declines. GAO projects that the sector´s long-term fiscal position will steadily decline through 2060 absent any policy changes . . .”



Both reports are available in the Economics and Public Finance section of IPT´s website. You may also be interested in other information available via the Publications and Resources page.

IPT is pleased to announce its partnership with the CCH Learning Center to offer IPT members 30% off their regular rates for online courses. Courses are available in four of their premier libraries: the Core Library, the Accounting and Audit Library, State Taxation Library and the U.S. International Tax Library. IPT members can log in to the Education Center through the IPT website to access the course descriptions and information on registering for these courses. There are currently 309 courses in these libraries.

Members pay an annual fee to access the courses in each library. For example, in the Core Library, there are currently over 170 courses. An IPT member would pay $293 (30% off the list price of $419) and may take as many of the courses as he or she has time to complete in a 12 month period.

New courses are continually added, covering emerging and essential issues in one convenient location. Courses include practice tools and resources to help put the information presented into action. Links abound to CCH's electronic T&A tools for those who use them. All courses are available in PDF format for easy printing and portability. These courses will count as non-IPT courses for CMIs. CMIs will need to send their certificate(s) to IPT after completing the course(s) for credit towards their designation.

To review the course catalog, or register for these courses, please click on the “Education Login” link on the left side of this page and log in with your education credentials.

This new online database presents data on the property tax in all 50 states. Because accurate data provide the critical foundation for sound governmental decision-making, the Lincoln Institute of Land Policy and the George Washington Institute of Public Policy joined in a partnership to provide information and support public policy concerning the property tax, probably the most controversial tax in the United States.

The term “Significant Features” pays tribute to the work of the Advisory Commission on Intergovernmental Relations, which was established by Congress in 1959 to study the relationships among local, state, and national levels of government. Until its termination in 1996, ACIR provided a wealth of research on the functioning of the federal system, particularly through its flagship publication, Significant Features of Fiscal Federalism.

This new site provides data sets and links relating to the property tax and its role in state and local finance in all 50 states. The interface allows users to access property tax and data online in a variety of forms, including tables of the most frequently sought figures, a query system for creating new tables, and a downloadable database. This data will be of value to a wide variety of users, including journalists, public officials, and researchers.

The site is in a review period and any feedback on content or functionality would likely be appreciated. A "submit feedback" button is on most pages of the site.

You can access this new site here.

As before, additional resources for tax professionals are available via IPT's Publications and Resources webpage.