State and Local Taxation: Principles and Planning

Rating:
Summary: Numerous inaccuracies detract from good discussion
Review: As a state and local tax professional, I purchased a copy of this text to use for "in-house" training at my company. Seeing that the "Second Edition" was published this year (2004), I assumed it would be a relatively accurate text. However, in reviewing Chapter 3 ("Corporate Income/Franchise Taxes" - my area of specialization), I was dismayed to find that most of the information has not been updated for current law. As examples, the table on apportionment factor weighting hasn't been updated for changes since 1999, and the discussion of state differences in depreciation fails to address the dramatic changes that have occurred due to 2002 and 2003 federal legislation.

While the authors do present some good materials on the basics of state and local taxation, and address many of the issues that can arise, their release of a "Second Edition" that is woefully out-of-date seriously detracts from its utility in a learning environment.

Rating:
Summary: Covering tax code, hazards, loopholes, and regulations
Review: Now in its second edition, State And Local Taxation: Principles And Planning is the authoritative and collaborative effort of tax experts Charles W. Swenson, Sanjay Gupta, John E. Karayan, and Joseph Neff. This outstanding informational resource is meant to be used as a professional reference or a college curriculum text. Covering tax code, hazards, loopholes, and regulations as imposed by governments (especially pertaining to cross-border transactions), State And Local Taxation is meticulously detailed and spells out the facts, principles, and requirements for both students of Economics and non-specialist general readers seeking to expertly flesh out their knowledge base with respect to all aspects of governmental taxation.