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IPT InsiderInstitute for Professionals in Taxation®

The SALT Professionals Community

February 2017

In this Issue

Defining and Proving Fair Market Value for Business Personal Property TaxationMost of us have an idea of what fair market value means: how much something would sell for in a fair marketplace. If we own a home or car, we know how we would go about estimating it; research the housing or automobile marketplace and compare our house or car to our findings. However, for states that tax Business Personal Property (BPP) using this definition, interpreting the definition and proving fair market value can be challenging. These are two important components for correct tax valuation objectives.

Jack E. West, ASA Property Valuation and Consulting, Inc.Tampa, FLPhone: (813) 727-2959 Email: [email protected]

Article begins on page 8

In American Multi-Cinema v. Hegar, a Texas appeals court expanded what can be included in a taxpayer’s cost of goods sold deduction under the Texas margin tax to include the cost of exhibiting films. The court relied on a Texas Tax Code provision that defines tangible personal property as “film . . . without regard to the means

or methods of distribution[.]” But the court simultaneously left unresolved the application of a broader provision that defines tangible personal property as “personal property . . . that is perceptible to the senses[.]” This article examines American Multi-Cinema in detail and discusses how it could impact taxpayers.

Doug Sigel, Esq1. Ryan Law Firm, LLP Austin, TX Phone: (512) 459-6611 Email: [email protected]

Richard Guerra, Esq. Ryan Law Firm, LLP Austin, TX Phone: (512) 459-6613 Email: [email protected]

PROPERTY TAXINCOME TAX

President’s Corner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2Calendar of Events . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3News You Can Use . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4IPT Award Nominations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10New Distance Learning Courses . . . . . . . . . . . . . . . . . . . . . . . . . .11Get to Know IPT's Property Tax Schools . . . . . . . . . . . . . . . . . . . .12IPT's Credits & Incentives School . . . . . . . . . . . . . . . . . . . . . . . . .1341st Annual Conference . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14Sales Tax School I & II . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15

State

Income

PropertySales and Use

Credits and

Incentives

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e Ad

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ABA/IPT AdvancedTax Seminars . . . . . . . . . . . . . . . . . . . . . . . . . .16Local Luncheons . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17Property Tax Calendar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18IPT Educational Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19IPT New Members . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20Just One More . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .222017 Event Sponsorship Opportunities . . . . . . . . . . . . . . . . . . . . .23CMI & CCIP Candidate Connection . . . . . . . . . . . . . . . . . . . . . . . .24CMI Corner . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25

The Texas Cost of Goods Sold Deduction—A Movie Theatre May Deduct Film Exhibition Costs Because Film Exhibition is “Tangible Personal Property”

1 Mr. Sigel represents the taxpayer in American Multi-Cinema, Inc. v. Hegar, 2017 WL 74416 (Tex. App.—Austin Jan. 6, 2017, no. pet. h.).

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2 January 2017 IPT Insider

President’s Corner

Kellianne M. Nagy, CMI, CAE President June 2016 - 2017

2017 is off to a great start for IPT and we’ll be riding that momentum for the next several

months as we kick off our live programs with Sales Tax School I: Introduction to Sales & Use Taxes on February 26 – March 3, 2017, at the Georgia Tech Hotel and Conference Center in Atlanta. I will be there and look forward to a great school and the opportunity to meet more of you there.

IPT is also offering two distance learning (online) courses in February: Construction in Progress Valuation on February 2nd and Oil and Gas Appraisals and Best Practices on February 16th. You can earn TDLR credit for both sessions. Visit IPT’s distance learning page for more information.

Also in late March, the Institute will co-sponsor a joint program with the Tax Section of the ABA.

The Joint IPT/ABA Advanced Income, Property, and Sales Tax Seminars will once again be held in New Orleans, March 20 – 24, 2017. More information regarding the seminars can be found on IPT’s website. And, of course, it’s never too early to save July 9-12 on your calendar for IPT’s Annual Conference in Charlotte. The sessions are really coming together and promise to be diverse, topical and informative. For a printable calendar of all of IPT’s planned programs, click here.

In an email sent to all IPT members, Executive Director Chris Muntifering, CMI, noted some recent Board of Governors decisions that all members should know. First, new CMI/CCIP candidates are now required to attend certain IPT-offered schools within their discipline in order to qualify for certification. You can find more specific information about these changes by going to www.ipt.org and clicking the “programs” tab.

The names of the income tax schools have been changed to better align with the naming

convention of the sales tax schools. The Basic Income Tax School is now State Income Tax School I and the Advanced Income Tax School will now be known as State Income Tax School II. Additionally, members wishing to attend State Income Tax School II may do so, if they have at least seven years of relevant income tax experience, but have not successfully attended or challenged State Income Tax School I. Visit www.ipt.org for details on certification and school requirements.

Finally, nominations for the Board of Governors are being accepted by the Nominating Committee.

Each year, three members are chosen for a three-year term and another individual is chosen as Second Vice President. In 2017, the Nominating Committee will select at least two corporate members and up to two consultant members for the next Board of Governors. If you are interested in applying, please contact Executive Director Chris Muntifering, CMI, but act quickly as the submission deadline is Wednesday, February 15, 2017.

2017 looks to be an exciting year for IPT, and I look forward to seeing many of you at IPT’s upcoming events.

Kellianne M. Nagy, CMI, CAE President, June 2016 - 2017



2017 CALENDAR OF EVENTS

Webinar: Construction in Progress Valuation (DLN310) February 2, 2017

Webinar: Oil and Gas Appraisals: Review of Best Practices (DLN313) February 16, 2017

CMI Sales Tax Exams Georgia Tech Hotel & Conference Center Atlanta, GA February 24-25, 2017

Sales Tax School I Georgia Tech Hotel & Conference Center Atlanta, GA February 26-March 3, 2017

Webinar: Measuring Economic Obsolescence (DLN307) March 6, 2017

ABA-IPT Advanced Income Tax Seminar Ritz Carlton Hotel New Orleans, LA March 20-21, 2017

ABA-IPT Advanced Sales/Use Tax Seminar Ritz Carlton Hotel New Orleans, LA March 21-22, 2017

ABA-IPT Advanced Property Tax Seminar Ritz Carlton Hotel New Orleans, LA March 23-24, 2017

Webinar: Intangibles (DLN312) April 4, 2017

Webinar: Taxpayer Remedies after the Hearing (DLN 317) April 20, 2017

Sales Tax School II Marriott Kingsgate Conference Center Cincinnati, OH April 23-28, 2017

Real Property Tax School The Inverness Hotel & Conference Center Englewood, CO May 7-12, 2017

Credits & Incentives School Georgia Tech Hotel & Conference Center Atlanta, GA May 15-18, 2017

State Income Tax School I Wylie Inn & Conference Center at Endicott College Beverly, MA June 4 - 9, 2017

State Income Tax School II Wylie Inn & Conference Center at Endicott College Beverly, MA June 4 - 9, 2017

41st Annual Conference The Westin Charlotte Charlotte, NC July 9-12, 2017

Property Tax School Hilton DFW Lakes Executive Conference Center Grapevine, TX August 13-17, 2017

Sales Tax Symposium La Cantera Hill Country Resort San Antonio, TX September 17-20, 2017

Personal Property Tax School The Inverness Hotel & Conference Center Englewood, CO October 1-5, 2017

VAT Symposium The Hyatt Regency Toronto Toronto, ON October 10-12, 2017

Credits & Incentives Symposium The Palmer House Hilton Chicago, IL October 22-25, 2017

Property Tax Symposium Renaissance Indian Wells Resort Indian Wells, CA November 5-8, 2017

Income Tax Symposium The Palmer House Hilton Chicago, IL November 12-15, 2017


The Texas Cost of Goods Sold Deduction—A Movie Theatre May Deduct Film Exhibition Costs Because Film Exhibition is “Tangible Personal Property”

Doug Sigel, Esq. 1 Ryan Law Firm, LLP Austin, TX Phone: (512) 459-6611 Email: [email protected] Richard Guerra, Esq.Ryan Law Firm, LLPAustin, TXPhone: (512) 459-6613Email: [email protected]

The Texas Comptroller of Public Accounts (“Comptroller”) has lost a battle over the cost of goods sold deduction, but the war is not over. In American Multi-Cinema, Inc. v. Hegar, the Austin Court of Appeals provided tax relief to national movie theater chain American Multi-Cinema (“AMC”).2 In calculating its taxable margin, AMC deducted costs related to acquiring, producing, and exhibiting motion picture films as costs of goods sold (“COGS”). The Comptroller asserted that AMC sells services—rather than tangible personal property—and disallowed AMC’s deductions.

Ruling in favor of AMC, the Court held that film exhibition is tangible personal property under Texas Tax Code § 171.1012(a)(3)(A)(i), which defines tangible personal property as “personal property that can be seen, weighed, measured, felt, or touched or that is perceptible to the senses in any other matter.3

1 Mr. Sigel represents the taxpayer in American Multi-Cinema, Inc. v. Hegar, 2017 WL 74416 (Tex. App.—Austin Jan. 6, 2017, no. pet. h.).2 American Multi-Cinema, Inc. v. Hegar, 2017 WL 74416 (Tex. App.—Austin Jan. 6, 2017, no. pet. h.).3 Am. Multi–Cinema, Inc. v. Hegar, 2015 WL 1967877, at *1 (Tex. App.—Austin Apr. 30, 2015), opinion withdrawn and superseded on overruling of reh'g, 2017 WL 74416 (Tex. App.—Austin Jan. 6, 2017, no. pet. h.).

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IPT OFFICERS President Kellianne M. Nagy, CMI, CAE Sunbelt Rentals Inc.

First Vice President Robert S. Goldman, CMI, Esq. Dean, Mead & Dunbar

Second Vice President Rick H. Izumi, CMI ITA, LLC

BOARD OF GOVERNORS Immediate Past President Margaret C. Wilson, CMI, Esq. Wilson Agosto LLP

Leslie S. Fisher, CMI E. I. Du Pont de Nemours & Company

Christopher S. Hall, CMI Ford Motor Company

Mark S. Hutcheson, CMI, Esq., CRE Popp Hutcheson PLLC

Rick L. Johnson, CMI Belk Stores Services, Inc.

David H. LeVan, CMI Walmart Stores, Inc.

Kenneth R. Marsh, CMI TransCanada Pipelines Limited

April M. Nevarez, CMI XO Communications LLC

Carolyn M. Shantz, CMI, CPA Superior Energy Services

Tommy L. Twomey, II, CMI Tesoro Companies, Inc.

CORPORATE COUNSEL Lee A. Zoeller, CMI, Esq. Reed Smith LLP

EXECUTIVE DIRECTOR Chris G. Muntifering, CMI

ASSISTANT EXECUTIVE DIRECTORS: Brenda A. Pittler

Charles Lane O’Connor

This publication is designed to provide accu-rate information for IPT members and other tax professionals. However, the Institute is not engaged in rendering legal, accounting, or oth-er professional services. If legal advice or other expert assistance is required, the services of a competent professional should be sought. Reprint permission for articles must be grant-ed by authors and the Institute. Send address changes and inquiries to Institute for Profes-sionals in Taxation®, 1200 Abernathy Road, NE, Building 600 Suite L-2, Atlanta, Georgia 30328 Telephone (404) 240-2300/Fax (404) 240-2315.




The Comptroller sounded alarm that this decision could cost Texas billions of dollars in tax revenue and filed a motion for rehearing.4

The Court denied the Comptroller’s motion for rehearing and issued a second opinion with a significantly narrower scope. According to that opinion, film exhibition is tangible personal property under Tax Code § 174.1012(a)(3)(A)(ii), which states that “films . . . without regard to the means or methods of distribution or the medium in which the property is embodied” are tangible personal property. The Court chose not to apply the “perceptible to the senses” definition on which it had previously relied. AMC still has a favorable ruling. But the narrower opinion will affect fewer taxpayers and does not risk costing Texas billions of dollars in tax revenue, for now.

Cost of Goods Sold Under the Texas Margin TaxThe revised Texas franchise tax—also known as the margin tax—is based on the taxpayer’s taxable margin. A taxpayer’s margin is calculated by subtracting the greater of four standard deductions—(1) COGS, (2) employee compensation, (3) 30%, or (4) $1 million—from the taxpayer’s total revenue.5 COGS includes “all direct costs of acquiring or producing goods[.]”6

In order to deduct COGS from its total revenue, a taxpayer must sell goods—defined as tangible personal property or real property sold in the ordinary course of business.7 Section 171.1012(a)(3)(A) of the Tax Code includes two definitions of tangible personal property:

Subsection (i): personal property that can be seen, weighed, measured, felt, or touched or that is perceptible to the senses in any other manner[.]8

Subsection (ii): films, sound recordings, videotapes, live and prerecorded television and radio programs, books, and other similar property embodying words, ideas, concepts,

4 Hegar Sounds Alarm on Franchise Tax Ruling, Texas-tribune.org, https://www.texastribune.org/2015/06/09/hegar-sounds-alarm-tax-ruling (June 9, 2015).5 Tex. Tax Code § 171.101(a)(1). 6 Tex. Tax Code § 171.1012(c). 7 Tex. Tax Code § 171.1012(a)(1). 8 Tex. Tax Code § 171.1012(a)(3)(A)(i) (emphasis add-ed).

images, or sound, without regard to the means or methods of distribution or the medium in which the property is embodied[.]9

Subsection (i)’s much broader definition of tangible personal property can have far-reaching significance for taxpayers and the Comptroller. In excluding subsection (i)’s application, the Court has delayed an inevitable confrontation between both sides.

The Austin Court of Appeals Causes Comptroller Alarm by Ruling That Film Exhibition is “Tangible Personal Property” Because a Film is “Perceptible to the Senses” On April 30, 2015, the Austin Court of Appeals ruled that AMC sells tangible personal property when it shows movies in theaters.10 The Court also held that AMC could include the costs associated with its auditoriums’ entire square footage as production costs, rather than just the costs associated with speakers and screens.11

AMC argued that film exhibition was tangible personal property.12 In support of its argument, AMC provided at trial testimony regarding the process by which AMC received a 35-millimeter film and prepared it for audience viewing. AMC constructed the film from multiple pieces. AMC also inserted advertisements, public service announcements, and trailers. AMC then fed the film into a projector, which produced an image on the screen.13

The Comptroller contended that AMC sold “the right to observe the movie in the theater[,]” and that this right was a film-watching service.14

9 Tex. Tax Code § 171.1012(a)(3)(A)(ii) (emphasis added). 10 American Multi-Cinema, Inc. v. Hegar, 2015 WL 1967877.11 Id. at 9. On the issue of production costs, AMC pro-vided witnesses that testified about the manner in which AMC designed and prepared its auditoriums for film viewing. The Comptroller called no witnesses to rebut AMC’s evidence and based its arguments on the common moviegoer’s knowledge. The Court determined that AMC’s evidence established that the costs associated with the entire square footage of its auditori-ums are production costs. The Comptroller—according to the Court—“failed to present controverting evidence.”12 Id. 13 Id. at *5.14 Id. at *2, *4.

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The Comptroller asserted that the tickets purchased by AMC’s customers were licenses to view the films. According to the Comptroller, AMC’s customers did not purchase tangible personal property because they did not take copies of the films home with them.15 But the Court rejected the Comptroller’s “take-home requirement.”16

The Court noted that subsection (ii) of § 171.1012 provides that tangible personal property includes films “without regard to the means or methods of distribution or the medium in which the property is embodied.”17 Nevertheless, the Court explicitly held that AMC’s product is tangible personal property under the plain meaning of subsection (i) of § 171.1012(a)(3)(A)’s “perceptible to the senses” definition of tangible personal property.18

After this decision, the Comptroller publicly stated that the Court’s ruling was so broad that it could potentially allow all service providers to qualify for the COGS deduction if the service is perceptible to the senses.19 In a letter to Texas’ Governor, Lieutenant Governor, and Speaker of the House, the Comptroller cautioned that Texas could lose $1.5 billion per year in margin tax revenue and up to $6 billion in refunds.20 The Comptroller filed a motion for rehearing, asserting that the Court’s definition of “tangible personal property” under § 171.1012(a)(3)(A)(i) would open the door to other businesses claiming COGS deductions for the sale of tangible sensory experiences.

15 Id. at *5. 16 Id. 17 Id. at *6. 18 Id. 19 Texas Court Ruling Could Undermine Major State Tax-es, Texastribune.org, https://www.texastribune.org/2015/05/06/texas-court-ruling-could-undermine-major-state-tax (May 6, 2015); Franchise Tax Lawsuit Could Cost Texas $1.5 Billion a Year, Comptroller.texas.gov, https://www.comptroller.texas.gov/economy/fiscal-notes/2015/june/amc-decision.php (June, 2015). 20 Hegar Sounds Alarm on Franchise Tax Ruling, Tex-astribune.org, https://www.texastribune.org/2015/06/09/hegar-sounds-alarm-tax-ruling (June 9, 2015).

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The Substituted Opinion—the Austin Court of Appeals Changed the Basis of Its Opinion and Expressly Left § 171.1012(a)(3)(A)(i)’s Definition of Tangible Personal Property Unresolved On January 6, 2017, the Austin Court of Appeals denied the Comptroller’s motion for rehearing and again sided with AMC in a substituted opinion.21 But the Court changed the basis of its ruling in its new opinion. Instead of applying subsection (i) of 171.1012(a)(3)(A), the Court applied only subsection (ii), which defines “tangible personal property” as “films . . . without regard to the means or methods of distribution or the medium in which the property is embodied[.]”22 In other words, the Court deliberately

chose not to resolve the issue of whether AMC’s product met subsection (i)’s broader definition of tangible personal property as “perceptible to the senses.” Notably—despite leaving subsection (i) unresolved—the Court also concluded that “AMC is entitled to include its exhibition costs in its COGS calculation if either subsection applies.”23

This narrower opinion grants temporary relief for the Comptroller—it will stave off the major revenue losses that caused such alarm. But this issue will certainly rise again. Section 171.1012(a)(3)(A)(i)—which defines tangible personal property as property that is “perceptible to the senses”—can be interpreted to include numerous kinds of entertainment or experiences that could be analogized to the exhibition of films. Any experience that can be seen, heard, or touched potentially qualifies. This may include museum tours, art exhibits, concerts, or live theatre. This issue will continue to evolve through litigation. In fact, there are pending district court cases that might tackle this issue in the near future:

21 American Multi-Cinema.v. Hegar, 2017 WL 74416.22 Id. at *5. 23 Id.

“The Comptroller asserted that the tickets purchased by AMC’s customers were licenses to view the films. According to the Comptroller, AMC’s customers did not purchase tangible personal property because they did not take copies of the films home with them.”

“In other words, the Court deliberately chose not to resolve the issue of whether AMC’s product met subsection (i)’s broader definition of tangible personal property as

perceptible to the senses.”


Colonial Country Club v. Hegar, Cause No. D-1-GN-16-005464, In the 201st Judicial District Court of Travis County, Texas (Nov. 2, 2016).

Colonial Country Club claims that it sells “tangible personal property” when it creates—and sells tickets to—an annual Professional Golfers Association Tournament (“PGA Tournament”). The PGA Tournament is broadcast on television. Relying on the first AMC opinion, Colonial Country Club argues that the PGA Tournament is tangible personal property under § 171.1012(a)(3)(A)(i) because it can be “seen” and is “perceptible” to its attendees and television viewers.

Colonial Country Club also argues that the PGA Tournament is tangible personal property under subsection (ii), which includes “live and prerecorded television . . . programs” in its definition of tangible personal property. If the taxpayer prevails, the court could choose to sidestep subsection (i) and apply only subsection (ii) in its ruling.

Dallas World Aquarium Corp. v. Hegar, Cause No. D-1-GN-15-004255, In the 345th Judicial District Court of Travis County, Texas (Sept. 25, 2015).

Dallas World Aquarium Corp., claims that it sells a sensory tangible rainforest experience as tangible personal property to its guests. Guests that enter the aquarium experience a rainforest’s sights, sounds, smells, and tactile qualities. Dallas World Aquarium argues that its rainforest experience—which can be “seen, weighed, measured, felt, or touched”—meets § 171.1012(a)(3)(A)(i)’s broad definition of tangible personal property.

Like in American Multi-Cinema, the Comptroller characterizes the taxpayer’s product as a service or a license to enter the aquarium. But the Austin Court of Appeals rejected these arguments in both AMC opinions. It will be interesting to see how the appeals court’s recent AMC opinion informs the district court’s analysis here.

ConclusionThe Austin Court of Appeals has now clarified in its amended opinion what costs of exhibiting a movie qualify for a COGS deduction. But the Court’s opinion leaves unanswered a significant question. What else qualifies as tangible personal property under 171.1012(a)(3)(A)(i)’s “perceptible to the senses” definition? Through its reasoning in both opinions, the Court has suggested that it will broadly interpret the definition of COGS. This could set the stage for an amendment from the Legislature. The

Comptroller may choose to file a petition for review with the Texas Supreme Court. Or this issue could be settled by pending or future litigation. Either way, the scope of the margin tax’s definition of tangible personal property remains an unsettled issue. Taxpayers are applying creative approaches to the COGS deduction that will ensure future litigation as this issue continues to evolve.


Defining and Proving Fair Market Value for Business Personal Property Taxation

Jack E. West, ASA Property Valuation and Consulting, Inc.Tampa, FLPhone: (813) 727-2959 Email: [email protected]

Defining Fair Market ValueIn many states, assessors interpret fair market value as the remaining use value to the owner of the assets, compared to their replacement cost. This is often expressed as percentage of remaining economic life compared to the cost to replace the assets with new equipment. For example, a restaurant stove was purchased two years ago for $10,000. Its replacement cost estimate today is $10,500 and its Normal Economic Life (NEL) is 10 years. The stove's normal remaining economic life is therefore, approximately 8 more years. It has an 80% estimated remaining use value of the $10,500 ($8,400). This 80% is sometimes expressed as a "percent good" factor, "the stove is 80% good." If the owner of the stove wanted to know what it would sell for in the marketplace he or she could interview reputable dealers. Suppose dealers state that they could sell it for $5,000. That figure is significantly less (40%) than the $8,400 assessor "percent good" value. So which value is correct? The answer is both are because the definitions are different: one is remaining use value and the other is marketplace value. For property tax valuation, an interpretation of the definition often exists.

So how should fair market value be interpreted for BPP taxation? Most equipment appraisers would agree that estimating the remaining economic life in an asset or group of assets is a component in marketplace behavior. However, when the word "market" is in any definition of value, few of us, appraisers or otherwise, would disagree that market means buying and selling. And to arrive at a credible estimate of value, if a marketplace exists, observing the behavior of the marketplace is required.

It is often helpful with complex issues to begin with a simple starting point. In this case, it is definitional. These three critical words "fair market value" used collectively are defined in the Merriam Webster Dictionary as: "a price at

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which buyers and sellers with a reasonable knowledge of pertinent facts and not acting under any compulsion are willing to do business". Defined individually:

Fair: "marked by impartiality and honesty: free from self-interest, prejudice, or favoritism"

Market: "a meeting together of people for the purpose of trade by private purchase and sale and usually not by auction"

Value: "a fair return or equivalent in goods, services, or money for something exchanged"

Collectively and individually, these definitions appear to be clear; a fair exchange between buyers and sellers in the marketplace. From an appraiser's perspective and responsibility, fair market value can only mean marketplace behavior. In conversations with assessors and fellow appraisers over the years, I've learned that this definition interpretation is the source of most property tax valuation challenges.

Proving Fair Market ValueProving fair market value is often more complicated than the value definition itself. What is sufficient and credible evidence, and how should it be established? Assessment values for BPP are typically based on age-depreciated values; a value loss depreciation assigned to assets based on their ages. This method can be challenging for any appraiser, and there are complexities involved that are beyond the space available for this article. As with any appraisal, reasonableness and credibility of the research is critical. The scope of research involves establishing how the appraiser identifies the appropriate market definition, such as liquidation, wholesale, or retail value, and how he or she conducts research for the report. It also addresses other issues such as costs that need to be addressed, i.e., freight, sales tax and installation.

Before the Internet became so prevalent, research for equipment appraisers consisted of visiting and/or telephoning reputable dealers who sell comparable equipment. Today with a click of a few keys on our computers, we can find practically anything for sale. Too often the ease of this exercise can create complacency-related results. For example, finding used stoves for sale on equipment-dealer websites or EBay is not difficult. Determining the comparability to your subject's stove in terms of features, age, and condition however, can be. Is the stove on the website really comparable? Suppose the stove is a comparable make and has similar features and



the asking price is $5,000. Is this sufficient to use? If the assessment value of the stove is $5,000, then it appears to be supported by the marketplace. However, if the assessment value of the stove is $8,000, then the assessment value is not supported in the marketplace. Again, since assessment values for BPP are typically based on age-associated depreciation factors, the age of the stove needs to be known. Without it, the evidence is not as credible. How do you determine the age? Equipment, in most cases, has serial numbers that will indicate manufacture dates. Some assets however, such as furniture often have no numbers to determine age. Despite the advantages of the Internet, the real credibility of research still involves visiting and interviewing reputable dealers. Dealers can provide the data you need to establish market behavior (age-related and otherwise), economic lives, and in many cases, replacement cost. The scope of research should involve a sufficient amount of credible dealers interviewed. Too few is insufficient, and too many is unnecessary. It is important for the appraiser to make sure the scope of the evidence answers the question: is it sufficient and credible so that the reader of the report can rely on it?Successfully addressing these two issues is the starting point of any BPP valuation objective.


For decades, IPT’s formula for success has been the willingness of its members to give their time and talent to schools, seminars, symposia, academies, annual conference presentations, committees and special projects. As many of you know, this is work that requires focus and dedication, and we want to say “thank you” to the individuals who have gone the extra mile by giving their time and expertise to make a difference.We need your help and input to recognize these outstanding members. The Awards Committee is currently accepting nominations, which are due February 16, 2017. Please recommend any individual you believe is deserving of consideration for one of these top honors. After reviewing all nominations, the Awards Committee will make its recommendation to the Board of Governors.

Nominations are being accepted in each of the following four categories:

Distinguished Service Award This award is intended for a member(s) who has made outstanding contributions to the Institute over an extended period of time.

Special Award This honor is designed to recognize a member(s) who has contributed significantly to a special project, activity or achievement for the Institute.

New Member Achievement AwardThis award acknowledges and rewards the contributions of those most active members who have five or fewer years of membership. It establishes visible support and encouragement for committed stewardship and service contributions across all membership levels, and helps foster leadership-level commitment at the new membership level.

Literary Award This honor is presented to authors of papers on topics related to property, state and local income, sales/use or value added tax, or issues relating to credits and incentives. Essays should be between 1,000 to 4,000 words in length and must not have been previously published, except by IPT. You may also submit an article you have written.

A nomination form is available on the website at: http://www.ipt.org/iptdocs/Files/MiscForms/2017AwardsNominationForm.pdf

Nominations and essays can be submitted online or sent via US Mail to: Committee Chair, Awards Committee, and Institute for Professionals in Taxation®, 1200 Abernathy Rd. Building 600, Suite L-2, Atlanta, GA 30328 or fax to (404) 240-2315.

More detailed award nomination criteria can be accessed on the IPT website at: Awards Program Page. Remember that all nominations must be received by February 16, 2017.

Thank you for taking the time to recognize your fellow IPT members and their significant contributions to the Institute. We look forward to seeing you in Charlotte!

IPT Award Nominations

IPT 2017

Awards

IPT 2017

Awards

Submit by February 16, 2017


IPT is offering the opportunity to earn all 12 hours needed to complete the TDLR Property Tax Consultant Continuing Education Requirements in a bundled package. You can choose to take all of the courses in each of the three tracks below for $100, or you can opt for one or more tracks from the list below. By registering for a bundle, you are eligible to take one or all of the courses it includes; you decide what works best for your TDLR needs. Register for individual and bundled courses by clicking on the links below. Property Tax CMIs will receive hour-for-hour continuing education credits towards their property tax specialty hour requirements.

Texas Property Tax Appraisal Track Date Time 4 CPE HoursTotal Instructor(s)

Inventory Reporting, Assessment and Appeal (DLN311)

Recorded session available on demand after 3/15/2017 (2 Appraisal) Selena Longway

Rick Duncan

Construction in Progress Valuation (DLN310) 2/02/2017 3:00 - 4:00 pm ET (1 Appraisal) Trey Novosad

Taylor Vaughn

Measuring Economic Obsolescence (DLN307) 3/06/2017 3:00 - 4:00 pm ET (1 Appraisal) Charles Oeler

Texas Property Tax State Laws Track Date Time 4 CPE HoursTotal Instructor

Property Tax Exemptions and Special Valuations (DLN306)

Recorded replay available on demand after 3/15/2017

(1 Texas Law) (1 PTC) John Brusniak

Texas Remedy for Equal and Uniform Taxation (DLN305)

Recorded replay available on demand after 4/20/2017 (1 Texas Law) Mark Hutcheson

Taxpayer Remedies after the Hearing (DLN 317) 4/20/2017 1:00 - 2:40 pm ET (2 Texas Law) John Brusniak

Texas Property Tax Consulting Track Date Time 4 CPE HoursTotal Instructor(s)

Property Tax Budgeting and Communicating with Senior Management (DLN309)

Recorded replay available on demand after 3/15/2017 (1 PTC) Jeff Shamma

Katie Lightbourn

Ethics for Property Tax Consultants (DLN314)

Recorded replay available on demand after 4/26/2017 (1 Ethics) Mark Semerad

Oil and Gas Appraisals: Review of Best Practices (DLN313) 2/16/2017 3:00 - 4:00 pm ET (1 PTC) Bob Adair

Intangibles (DLN312) 4/04/2017 3:00 - 4:00 pm ET (1 PTC) Sam Kinslow

Schedule set at time of publishing, but is subject to change. Registrants will be notified in advance of any changes. If you cannot attend a live session, each session will be recorded and available for viewing approximately 90 days after the live session.

New Distance Learning Courses for Registered Texas Property Tax Consultants

Newly developed courses to satisfy the annual TDLR Continuing Education Requirements

A Bundled Package Offered by IPTTexas Property Tax Appraisal Track = 4 CPE HoursTexas Property Tax State Laws Track = 4 CPE HoursTexas Property Tax Consulting Track = 4 CPE HoursAll 12 hours needed to complete the TDLR Property Tax Consultant Continuing Education Requirements.

1 Track

for $50 or

all 3 Tracks

for $100


Real Property Tax School May 7-12, 2017 Inverness Hotel & Conference Center Englewood, CO

The Real Property Tax School is a comprehensive, five-day program for property tax personnel who have some experience in the real property area. The purpose of the program is to provide students with a fundamental and integrated knowledge of property tax principles, concepts and technical skills essential in the field. The school features an in-depth study of the property tax valuation process, including the three approaches to value. Other related topics covered in the school include, but are not limited to, sales ratio studies and mass appraisal; direct capitalization, yield capitalization and discounted cash flow models; assessor, appeal board and court interactions; building cost estimates and types of depreciation.Individuals must have successfully completed or challenged IPT’s Property Tax School in order to attend. Successfully completing this school is a mandatory requirement for earning the Property Tax CMI designation, and the school is not eligible to be challenged.

Property Tax School August 13–17, 2017 Hilton DFW Lakes Grapevine, TX

The Property Tax School is designed for tax professionals who have less than five years of experience in the field and little or no exposure to appraisal training. The school focuses on basic property tax principles and concepts and will help attendees develop the technical skills needed to succeed in the field. There are no prerequisites for this course, and successful completion of the series of quizzes throughout the school is required. This school is a prerequisite for the Real and Personal Property Tax Schools and is eligible to be challenged.

Personal Property Tax School

October 1-5, 2017 Inverness Hotel & Conference Center Englewood, CO

The Personal Property Tax School provides an in-depth study of personal property taxation. It’s designed for property tax personnel who have a basic knowledge of the property tax area. IPT’s Personal Property Tax School builds on the fundamental knowledge of property tax issues and helps attendees expand their current knowledge of personal property tax issues including understanding the intricacies of personal property tax in a business environment. Individuals must have successfully completed or challenged IPT’s Property Tax School in order to attend. Successfully completing this school is a mandatory requirement for earning the Property Tax CMI designation, and the school is not eligible to be challenged.

Get to Know IPT’s Property Tax SchoolsIPT offers three annual schools that offer a thorough examination of property taxation. They are a terrific opportunity to learn more about property taxation and strategies you can apply to your daily routines. The schools are designed to accommodate varying levels of experience, from basic to advanced and each school offers a unique curriculum that can be taken as standalone training or as a three-part series. Learn more about all three property tax schools and register for an upcoming school.

Interested in Earning the CMI in Property Tax?The Certified Member of the Institute (CMI) for property tax is available to anyone who meets specific educational requirements, has five years of property tax experience, and is a property tax member in good standing of the Institute. The educational requirements to achieve the CMI Property Tax professional designation include attendance and successful completion of the Personal Property Tax School and the Real Property Tax School. Successful completion or challenge of the Property Tax School is a prerequisite for both the Personal Property Tax School and Real Property Tax School. In addition to other requirements, successful completion of both the written and oral CMI examinations is required. The CMI requirements and the CMI Candidacy Application can be downloaded from the IPT website at: www.ipt.org.


Want to Expand Your Knowledge Beyond Your Tax Discipline? Try IPT’s Credits and Incentives School

Credits & Incentives SchoolMay 15–18, 2017Georgia Tech Hotel & Conference Center Atlanta, GA

IPT’s Credits and Incentives School can be helpful for tax professionals from all backgrounds – sales, property, income and VAT as well as those who focus on credits and incentives. The school provides an in-depth study of basic and advanced C&I concepts; practical applications of strategies; and insight on industry trends within the credits and incentives arena. It is designed for individuals who have industry knowledge, but want to advance their perspective and expertise. The school can serve as a terrific resource

for all tax professionals as the use of credits and incentives can impact all areas of SALT taxation. It’s a great way for property, sales, and income professionals to grow their knowledge base.Prior to attending the School, participants must possess a firm grasp of C&I concepts and complete 8 hours of prerequisite online coursework, followed by 29 hours of on-site classes in order to successfully complete the school’s requirements. Successful completion of the School is just one of the requirements candidates for the Certified Credits and Incentives Professional Designation (CCIP) must fulfill in order to continue their pursuit of the designation. Click here for more information on all of the eligibility requirements for the CCIP.


Join us in Charlotte, North Carolina, for IPT’s 41st Annual Conference, July 9 – 12, 2017! Planning for the Conference is underway, and the committee will use your feedback from the 40th Annual Conference to design an agenda that will fit the needs of the membership.

Charlotte is known as the “Queen City,” and its slogan “Charlotte’s got a lot,” is certainly true. It is home to the NASCAR Hall of Fame, Carowinds amusement park, the U.S. National Whitewater Center and the Charlotte Independence of the United Soccer League. It’s an easy travel destination as nearly 60 percent of the country’s population lives within a two-hour flight and 6.9 million people live within a 100-mile radius. There will be many things to do and much to learn at the Conference and in Charlotte. Mark your calendars today for IPT's 41st Annual Conference July 9 – 12, 2017. Register today!

Know a Student Interested in SALT?

IPT is proud to once again offer our annual scholarship program for full-time and part-time students, including teaching and research assistants in select degree programs, who demonstrate a manifest interest in a career in state and local taxation. Each deserving winner will be awarded up to $2,000 in eligible costs associated with attending the IPT Annual Conference in Charlotte on July 9 –12, 2017. The program is designed to provide an introduction to the field and its leaders for those who are considering it as a career option.

To be considered for a scholarship, applicants must supply:

1. Completed application form 2. Short statement describing the candidate’s interest in state and local taxation3. Letter of recommendation4. Copy of the candidate’s academic transcript5. Copy of the candidate’s resume

Applications should be submitted by May 15, 2017. Those submitted prior to that date will receive higher consideration in the application review process. A downloadable brochure has been created to help you explain the program with potential candidates.

Help get the word out about the scholarship program, and reward potential new tax professionals with a trip to the Annual Conference!

41st Annual ConferenceJuly 9-12, 2017 ~ The Westin Charlotte ~ Charlotte, NC

Come to Charlotte for the Annual Conference


2017 IPT SALES TAX SCHOOL I:introduction to sales and use taxes

February 26 - March 3, 2017Georgia Tech Hotel & Conference Center, Atlanta, Georgia

Registration and program information are now available on IPT’s website.Sales Tax School I is a five-day school that provides students with an exposure to essential sales and use tax principles and concepts. Research, accounting, auditing and other technical skills are discussed and practiced. Emphasis is placed on small discussion groups and practical applications. Successful completion of a final examination is required and students are expected to attend 90% (i.e., earn 32.4 credit hours) of the school including the mandatory one-hour ethics session. The 90% attendance must be reflected in the official certificate of attendance.

This is an introductory school and is a prerequisite for the Sales Tax School II being offered April 23 - 28, 2017. Individuals who plan to take Sales Tax School II are required to successfully complete Sales Tax School I or pass a Sales Tax School I challenge exam.

Online Registration (You must log on to register)

IPT SALES TAX SCHOOL II:theory and practice for the experienced sales and use tax professional

April 23 - 28, 2017Marriott Kingsgate Conference CenterUniversity of Cincinnati, Cincinnati, OhioThis intermediate level, five-day school guides students through a review and analysis of many essential sales and use tax principles and concepts, including research, accounting, auditing and other technical skills. Emphasis is placed on small discussion groups and practical applications. Early registration is encouraged for this popular school. The school is composed of the 16 general sessions shown below, followed by breakout sessions which expand on the material.

h Ethics h Constitutional Issues h Advanced Topics in Retailing h Advanced Topics in Leasing h Advanced Audit Management h Taxpayer Remedies h Statistical and Block Sampling h Mergers & Acquisitions h Tax Planning h Taxation of Computer Software & Services h Advanced Topics in Telecommunications h Advanced Topics in Manufacturing h Advanced Topics in Construction Contracting h Advanced Topics in Oil and Gas h Taxation of Electronic Commerce h Managing the Sales Tax Function

Online Registration (You must log on to register)

© Jay Bachemin

(Successful completion of Sales Tax School I or its challenge exam is a prerequisite to attend.)


hEast Coast vs. West Coast, “In-House” vs. “Out House” – Different Perspectives on Tax Controversy Strategy

h Staring into the Great Unknown: State Implementation of “Prior Administration” Federal Rules under the “New Administration”

hThe Rise of Gross Receipts Taxes

hThe Battle of the Incentives - Get Your Money for Nuthin’ and Your Jobs for Free!

hNet Operating Loss Issues (NOLs)

hRetroactive? Really? Is There a Line? Defining the Limits of Retro-active Legislation in the Post- Carlton Era

hWhat a Difference Your Entity Choice Can Make: Market-Based vs. Cost of Performance Sourcing

hOperating with Transparency and Protecting Confidential Information — Where is the Line?

hTop 10 Income Tax Cases

hEconomic Nexus in State Income Tax: Problems for Taxpayers - Problems for the States

hPomp vs. Goodman

hEthical Quandaries: Identifying and Solving Practice Challenges

hEthical Quandaries: Identifying and Solving Practice Challenges

hThe Annual Big Easy Brawl

hNexus Today – Overturning Quill?

hThe Definitive Yearly Sales and Use Tax Guide! Everything That Has Happened in Sales and Use Tax Over the Past Year and More!

hIs a Sample a Lifetime Commit-ment?

hThe Really Final, Last Word: A Dia-logue with State Tax Administrators

hOfficer/Successor Liability

hConstruction Contracts – Who Pays? What is the Basis for the Tax? What State gets the Tax?

hSales Tax Issues in the Shared Economy

hDealing with the Difficult Audit and Preparing for Appeal/Litigation in Court and in Appeals Courts

hIssues in Unit Assessment Valuation Properties

hIf It Walks Like a Duck . . . Identifying and Valuing Intangible Assets

hValuation Issues for Manufacturing and Industrial Properties

hThings Change – An Outlook for Real Estate and the Economy

hRoundtable – Around the Nation: What’s Hot, and What’s Not

hThe Big Box Store Controversy: Looking for Solutions

hThe Dark Store Theory: Controversy in the Property Tax World

hHow to Win Your Case on Obsolescence

hEthics in a Tax Practice

INCOME TAX SEMINARMarch 20 - 21, 2017

SALES/USE TAX SEMINARMARCH 21 - 22, 2017

PROPERTY TAX SEMINARMARCH 23 - 24, 2017

Online Registration Registration Form Brochure Hotel Reservation

A Section of the American Bar AssociationTAX ATION

ABA/IPT Advanced Tax SeminarsMarch 20-24, 2017 ~ The Ritz-Carlton ~ New Orleans, LA


Chicago Area Local Luncheon Group

Date: Wednesday, February 8, 2017Time: 11:30 AMLocation: Maggiano’s Banquets

111 West Grand Avenue Chicago, IL

Topic: “Rogue Incentive: A Property Tax Story; Tax Tax Land; And Other Cases That Won’t Win Any Awards”

Speaker: Fran O’Malley, Esq., Partner Worsek & Vihon LLP

Contact: Tara Potsic at (224) 668-9166 or [email protected]

Local Luncheon website: http://chicagoareaipt.homestead.com/

Atlanta Area Local Luncheon Group

Date: Wednesday, February 22, 2017 Time: Registration and lunch at 11:30 am Program commences promptly at 11:45 amLocation: Maggiano’s Perimeter Mall

4400 Ashford Dunwoody Road Atlanta, GA (Upstairs Banquet Hall)

Topic: “Chief Appraisers' Panel: The Outlook for 2017 and Beyond” Join us for a great session that will give you the latest news from the major metro counties!

Speakers: Introduction: Chris Muntifering, CMI Executive Director Institute for Professionals in Taxation®

Panel: Calvin C. Hicks, Jr., Chief Appraiser DeKalb County Stewart Oliver, Chief Appraiser Gwinnett County Dwight Robinson, Interim Chief Appraiser Fulton County Stephen D. White, Chief Appraiser Cobb County

Contact: Adam Richmond at (404) 262-2000 or [email protected]

Local LuncheonsLocal Luncheons




Local LuncheonsLocal Luncheons

Memphis Area Local Luncheon Group

Date: Wednesday, February 22, 2017Time: 11:30 AMLocation: International Paper

Tower III - Ponderosa Pine Conference Room 6400 Poplar Avenue Memphis, TN

Topic: “385 Regulations – Impact from a State Income Tax Perspective & State Planning and Opportunities in Common Federal and International Transactions”

Speaker: Stacy Barrom Radian Partners LLC

Contact: Anna Howell at (901) 821-5373 or [email protected]

Milwaukee Area Local Luncheon Group

Date: Thursday, February 23, 2017Time: 11:30 AMLocation: North Shore Event Centre

7065 North Port Washington Road Glendale, WI

Topic: “Sales and Use Taxation of Services”

Speaker: Dave "Samuel" Alexander Engagement Manager - Experis

Contact: Paula Jung at (414) 524-2538 or [email protected]

Personal Property Filing Dates: MA MO MT TN VA* WI WY 3/1 UT (Salt Lake County) 3/1 ID KS OK OR 3/15

Assessment Dates: None

* Dates vary, check jurisdiction

** Date falls on a weekend or holiday, should be next business day. Confirm all information with local taxing jurisdictions.

Appeals Due:AK* HI* KS* MI* SC* SD* VA*AZ* 60 days after noticeCT* 3/20 or 2/20**DE 3/15NC 3/31NH 3/1NM 3/31 or 30 days after noticeVA* Assessor ReviewsNY 3/1 Nassau County, NYC

3rd Tuesday-Rochester3/15 Auburn

OH 3/31PA 3/31 Allegheny CountySD Thursday Preceding the Third Monday

Property Tax Calendar ~ March 2017This information is provided by International Appraisal Company (IAC) and is provided for quick reference/reminder purposes only. IPT and IAC make no guarantee to completeness or accuracy and are not responsible for errors or omissions or for any results from the use of this information. We strongly suggest confirmation of all information with local taxing jurisdictions.




The publication covers forty-five states and the District of Columbia regarding third-party drop shipments. The survey asks ten key questions that develop a fact pattern relating to each state’s tax treatment of third-party drop shipments. This is a must have when your business takes you across state lines.

The cost of the survey is $200 for IPT members, $225 for staff of IPT member companies and $275 for nonmembers, inclusive of shipping. U.S. Funds only, and Georgia residents should include applicable sales tax.

Order your copy today!

2016 Third-Party Drop Shipment Survey Brochure

Purchase Third-Party Drop Shipment Survey Online

IPT Publications Order Form

“An investment in KNOWLEDGE

always pays the best interest.”-- Benjamin Franklin

The Institute’s Sales and Use Taxation 2nd edition is available for purchase.

The text is on a convenient and portable flash drive, so you can easily access the essential information every sales tax professional needs whether you are in-or out-of the office.

Click here to order

The discounted price for IPT members is $100 and $125 for those employed by companies with IPT members. The cost for non-members is $175. The text was edited by William F. Fox, Ph.D., Professor of Economics and Director of the Center for Business & Economic Research, Haslam College of Business at the University of Tennessee, Knoxville.

Sales and Use Taxation 2nd edition is just one of several publications that are currently available from IPT. The others include:

Property Taxation 4th Edition (2014)

State Business Income Taxation 1st Edition (2012)

IPT’s Third-Party Drop Shipment Survey13th Edition

Institute for Professionals in Taxation®

2016Third-Party

Drop Shipment Survey

Thirteenth Edition

• BuyerCorporationisaregisteredwholesalerorretailerinStateA.

• BuyerCorporationhasnonexusinyourstateandisnotrequiredtocollectsales/usetaxinyourstate(StateB).

• SellerCorporationhasavalidexemptioncertificatefromBuyerCorporationforStateA.

• SellerCorporationisrequiredtocollectsales/usetaxinyourstate(StateB).

IT IS UNETHICAL in the performance of a tax assignment to knowingly furnish or knowingly rely upon inaccurate, deceitful or misleading information, or to knowingly withhold information which lawfully should be revealed.

IPT can help match great people with great opportunities. Visit the Career Opportunities page on the IPT website for career position descriptions and requirements.

C a r e e r s

Code of Ethics

Canon 12-


New Members

*Denotes Regular Member

INCOME TAX MEMBERSMatthew R. FrissoraRyan, LLCPittsburgh, PA

*Mark KepplerEntergy Services, Inc.New Orleans, LA

Matthew A. MantleJones Walker LLPNew Orleans, LA

Vincent M. OcchinoReed Smith LLPPhiladelphia, PA

Ashley R. RiveraReed Smith LLPPhiladelphia, PA

Tait RuddGrand Canyon Education, Inc.Phoenix, AZ

Mike Shaikh, Esq.Reed Smith LLPLos Angeles, CA

Mara Jolkovsky StricklandPricewaterhouseCoopers LLPAtlanta, GA

Robert WeymanReed Smith LLPPhiladelphia, PA

PROPERTY TAX MEMBERSRachel E. BrooksMarvin F. Poer and CompanyArlington, VA

Michael E. ByrnesMarvin F. Poer and CompanyOak Brook, IL

Matthew CanterMarvin F. Poer and CompanyArlington, VA

John LauderErnst & Young LLPCharlotte, NC

Daniel MannErnst & Young LLPIselin, NJ


Larry Mott, ASAStancil & Co.Irving, TX

Lisa ZacharyTax Advisors Group, Inc.Dallas, TX

SALES TAX MEMBERSCatherine BahrRobert Bosch LLCBroadview, IL

Christopher BeldonmeyerRyan, LLCArlington, VA

Chandra Bentley Technicolor USA Inc. Indianapolis, IN

Stacey BermudezInterContinental Hotels GroupAlpharetta, GA

Joe BouthiletteWaters Technologies CorporationMilford, MA

Susan M. BrennerAcushnet CompanyFairhaven, MA

Amber BrookmanBlack Hills CorporationRapid City, SD

Vikram ButtanKeysight Technologies Inc.Santa Rosa, CA

Luciana CarrilloNuStar Energy, LPSan Antonio, TX

Tiyanjana Chitekwe, CPAAltus GroupSparks, MD

Bobbie CordovaNuStar Energy, LPSan Antonio, TX

Uriah H. EllisDuCharme, McMillen & Associates, Inc.Indianapolis, IN

*Matthew S. EnzwilerCommerce BankSaint Louis, MO

Jason ErdmannDISH Network LLCEnglewood, CO

Maria EshenbaughBayer CorporationPittsburgh, PA

Chase EzellErnst & Young LLPHouston, TX

Rachel ForbesImerys USARoswell, GA

*Delia GaonaHoward Energy PartnersSan Antonio, TX

*Amy HanshewBlack Hills CorporationRapid City, SD


Barbara A. HoerstenLafargeHolcimDundee, MI

Jenna HowardCPRS, Inc.Bellevue, WA

Vivian IrbyHilton WorldwideMemphis, TN

Patty KaiserWaters Technologies CorporationMilford, MA

Ryan Kimura, CPAPricewaterhouseCoopers LLPSacramento, CA

Vicky LandruSealed Air CorporationCharlotte, NC

Nicole Melisa LarryCBRE, Inc.Dallas, TX

Steven LevinAbbott LaboratoriesAbbott Park, IL

Kristina MakarcevaElement Fleet Management Corp.Chicago, IL


Megan MartinezON SemiconductorPhoenix, AZ

April Meade, JDKatz, Sapper & Miller, LLPIndianapolis, IN

Matthew NassBest Buy Enterprise Services, Inc.Richfield, MN

Sarah NicolRSM US LLPSeattle, WA

Keith NowellForterra Inc.Irving, TX

Kyle Lewis PetersonBest Buy Enterprise Services, Inc.Richfield, MN

Christal PorterBison Innovative ProductsDenver, CO

Renee PotierInterContinental Hotels GroupAlpharetta, GA

Carolina RamichTextronFort Worth, TX

*Adarsh ReddyAC Products Inc.Thompsontown, PA

Kelly RenchRyan, LLCHouston, TX

Susanna C.O. SharpeGrant Thornton LLPColumbia, SC

Justin SimmonsAmazon.ComSeattle, WA

Aplinderjit SinghBDO USA, LLPMilwaukee, WI

Olivia SolimanEOG Resources, Inc.Houston, TX

Corey StefanowiczLehigh HansonIrving, TX

Nicole TeuberErnst & Young LLPBoca Raton, FL

Robert WeymanReed Smith LLPPhiladelphia, PA

Ioana WonserNuStar Energy, LPSan Antonio, TX

Ryan YoungBest Buy Enterprise Services, Inc.Minneapolis, MN

CREDITS AND INCENTIVES TAX MEMBERSBrett BartonKerryBeloit, WI

Brian CameronHIRETechHouston, TX

Christine HoffmanMarksNelson LLCKansas City, MO

Aneeqa VirgilKPMG LLPChicago, IL

VALUE-ADDED TAX MEMBERKay TindelAECOMAustin, TX

*Denotes Regular Member


1JUST MORE Members who refer at least one new member to IPT will be entered into a prize

drawing at IPT’s Annual Business Meeting. Each time you refer a new member to IPT, your name will be placed in the drawing. In order to receive recognition and the

opportunity to participate in the drawing, please make sure the person(s) you refer includes your name on his or her application. As we grow our membership, IPT can bring you better benefits, such as greater educational opportunities. Please participate in the Just One More Campaign and help in the continued growth of IPT. Individuals who referred one or more new members during the previous month are listed below.

This list consists of individuals who have previously been a member of IPT or who are employed by a business that employs or employed others who are or were members of IPT. IPT Board of Governors policy requires that the names of pending affiliate members appear in our monthly newsletter. Please direct any relevant information or comments (regarding admission to membership) to the IPT office.

Brian M. LitvinLitvin MuirConcord, ON

Jon M. Ripans, JD/MBA, Esq.The Ripans Law Firm LLC & Valuation Matters LLCAtlanta, GA

PENDING AFFILIATE MEMBERS

New Members

Debbie D. Anderson, CMIJoan Armenta-RobertsPuneeta Arora, CMICindy AssefaWilliam M. Backstrom, Jr., Esq.David G. BelpedioEdward H. Ben, CPACraig A. Black, CMIThomas W. BranhamGregory R. Broege, Esq.Julie BrownJoshua CorbranJohn Crepps, CMIKaren H. Currie, Esq.Andrew DunmireLaura Elder, CMIDouglas B. Esmond, CMI, CPASherri Fetzner, CCIP

Michael FitzgeraldPam FormentoPatricia A. GalbraithFred W. Geldmaker, IIITonya Elizabeth GraysonJoseph W. Heiles, CMICharlotte W. Hightower, CPALynn D. Krebs, CMI, Ph.D.Brian L. KuntzMiao LiuJanette M. Lohman, CMI, CCIP, CPA, Esq.Charles Alan Long, CMIAngela MarksCarolyn Ann MasonBrenda B. McMeans, CPABrenda L. Mello, CMIChad Miller, CMIStephanie Louise MillsDebra NinAnne Marie Nivers, CMIArthur C. Oberst

Mindy Potter, CMIKathy Reed, CPAAugust W. Reichenbach, Jr., CMIIngo Stefan Rumohr, CPA, CMIKelly W. SmithKyle O. Sollie, CMI, Esq.Kathy G. Spletter, ASALouis L. Stabile, Jr.Steven R. Stallings, CMISusan B. Starnes, CMIMorgan E. ThomasRobert W. Tivnan, CMIThomas J. UebelackerArlene Uter-NelsonTamara VolmerMisty WaltonSherri R. Williams, CMIKamme R. WilsonTodd C. WorkmanDavid Yerkes, CMILee A. Zoeller, CMI, Esq.


2017 Event Sponsorship Opportunities

Annual Conference

Sales Tax Symposium

VAT Symposium

Credits & Incentives

Symposium

Property Tax

Symposium

Income Tax

Symposium

Regional Mftg.

Workshop

Reception:S - $5,000M - $6,000T - $8,000

S - $7,500 M - $7,500

M - $2,000 T - $2,000 S - $4,000

S - $5,000 M - $5,000 T - $5,000

S - $2,500 M - $2,500 T - $2,500

$2,000

Continental Breakfast:

M - $4,000T - $4,000W - $3,000

N/A T - $1,000 W - $1,000

M - $2,500 T - $2,500 W - $1,500

M - $3,000 T - $3,000 W - $2,000

M - $1,500 T - $1,500 W - $1,000

Day 1 - $500Day 2 - $500

Lun-cheons:

M - $5,000T - $5,000

M - $5,000 T - $5,000

T - $2,000 W - $2,000

M - $3,000 T - $3,000

M - $3,000 T - $3,000

M - $2,000 T - $2,000

Day 1 - $1,000Day 2 - $1,000

Break: AM or PM

M(am) - $2500

M(pm) - $2500T(am) - $2500

T(pm) - $2500

W(am) - $2500

M(am)- $2500

M(pm) - $2500T(am) - $2500

T(pm) - $2500

W(am) - $2500

T(am)- $500

T(pm)- $500

W(am)- $500

W(pm)-$500

M(am)- $1500

M(pm) - $1500T(am) - $1500

T(pm) - $1500

W(am) - $1500

M(am)- $2000

M(pm) - $2000T(am) - $2000

T(pm) - $2000

W(am) - $2000

M(am)- $1000

M(pm) - $1000T(am) - $1000

T(pm) - $1000

W(am) - $1000

$250

Internet: $3,000 $3,000 $1,500 $2,500 $2,500 $1,500

Charging Stations: $2,500 $3,000 $1,500 $2,000 $2,500 $1,500

Mobile App: $2,000 $2,000 $1,500 $2,000 $2,000 $2,000

Details of co-sponsorships and joint events are available on request. For further information, visit IPT’s website or contact Helen Johnson at [email protected].

** Any Event crossed out is no longer available. **



Candidate ConneCtion

CMi &

CCiP

2017 Annual Conference Exams – Charlotte, North CarolinaThe exams held in conjunction with the Annual Conference in Charlotte, North Carolina are scheduled for July 7 – 9, 2017.Applications must be submitted 90 days prior to the examination date.

The deadline for submitting applications for the July 2017 Exams is April 7, 2017.

Candidates are required to complete and submit verification of any needed final requirements no later than May 23, 2017.

Candidates must notify the IPT office of their intention to sit for the examination no later than June 7, 2017.

2017 Sales Tax Symposium Exam – San Antonio, TexasThe exams held in conjunction with the Sales Tax Symposium in San Antonio, Texas are scheduled for September 15 - 16, 2017.Applications must be submitted 90 days prior to the examination date.

The deadline for submitting applications for the September 2017 Exam is June 16, 2017.

Candidates are required to complete and submit verification of any needed final requirements no later than August 1, 2017.

Candidates must notify the IPT office of their intention to sit for the examination no later than August 16, 2017.

2017 Credits & Incentives Symposium Exam – Chicago, IllinoisThe exams held in conjunction with the Credits & Incentives Symposium in Chicago, Illinois are scheduled for October 21 - 22, 2017.Applications must be submitted 90 days prior to the examination date.

The deadline for submitting applications for the October 2017 Exam is July 21, 2017.

Candidates are required to complete and submit verification of any needed final requirements no later than September 6, 2017.

Candidates must notify the IPT office of their intention to sit for the examination no later than September 21, 2017.

2017 Property Tax Symposium Exam – Indian Wells, CaliforniaThe exams held in conjunction with the Property Tax Symposium in Indian Wells, California are scheduled for November 4 - 5, 2017.Applications must be submitted 90 days prior to the examination date.

The deadline for submitting applications for the November 2017 Exam is August 4, 2017.


Candidates must notify the IPT office of their intention to sit for the examination no later than October 4, 2017.

Planning to take the CMI or CCIP exam in 2017?Applications are now being accepted for the 2017 CMI & CCIP Exams. Potential candidates are encouraged to plan ahead to avoid missing the application deadline and thus the opportunity to sit for the exam. Applications are available on the IPT website.


2017 Income Tax Symposium Exam – Chicago, IllinoisThe exams held in conjunction with the Income Tax Symposium in Chicago, Illinois are scheduled for November 11 - 12, 2017.Applications must be submitted 90 days prior to the examination date.

The deadline for submitting applications for the November 2017 Exam is August 11, 2017.


Candidates must notify the IPT office of their intention to sit for the examination no later than October 11, 2017.

CMI Status Reports Available OnlineCMI Continuing Education Status Reports are available online. Active CMIs may request a copy at any time. Please review your continuing education record and make note of your “term began” and “term ends” dates.

To access your CMI Status Report:1. Sign in at www.ipt.org. 2. Click on your name in the top right corner. 3. Click on the “CMI Members” tab.4. In the top right corner of this section, there is an

option to request your Status Report. Click that link and fill out the form.

5. An email will be sent to the email address on file with IPT.

To submit non-IPT Continuing Education:1. Sign in at www.ipt.org.2. Hover your mouse over “Professional Designations”

on the main blue menu bar, and click on “Application for Non-IPT Continuing Education Credit.”

CMi Co r n e rCERTIFIED MEMBER

CMI • INST

ITUTE

FO

R PROFESSIONALS IN TAXATION® •

3. Fill out the form, attach the supporting documentation, digitally sign the form and click submit.

4. You will receive a message that the form was submitted.

NOTE: If you have an internal learning report/transcript from your company, you may submit it as one course with the title “2016 Internal <Company Name> Learning Report.” You do not need to submit each course separately if it is listed on that report.

Continuing Education RequirementsEach CMI must complete at least 60 hours of relevant continuing business education during each five-year term as an active CMI. Of those 60 hours, at least 30 hours must be relevant to your tax specialty (i.e., sales, property, or income tax) with 5 hours devoted specifically to ethics. Three of the ethics hours must be from IPT courses/programs. Included within the 30 specialty hours, each CMI must attend at least 12 hours at one IPT Annual Conference, IPT Academy, IPT Symposium, IPT School or IPT/ABA Seminar in their respective discipline (sales, property or income tax) within each five-year term.

If you have any questions on the CMI designation or your current standing, please contact Emily Archer, Certification Officer at [email protected].

Please review the CMI Income Tax Applicant, CMI Property Tax Applicant, CMI Sales Tax Applicant or CCIP Applicant pages for a complete overview of the application process and eligibility requirements.

CMI-Income Candidate Page

CMI-Property Candidate Page

CMI-Sales Candidate Page

CCIP Candidate Page


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