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Estimators Were in Salt Lake City
The annual 2023 FTA Revenue Estimation and Tax Research Conference was held in Salt Lake City, September 30 - October 4.
The Conference brought over 170 state economists to Salt Lake City to discuss the economic and revenue outlook for the upcoming legislative and budget cycle. Presentations were made on the economic outlook, forecasting during a changing economy, tax burden measures, and more.
Also, mark you calendar so that you can join us in Norfolk, Virginia for the 2024 FTA Revenue Estimation and Tax Research Conference. It will be held October 5 - 9, 2024 at the Hilton Norfolk The Main hotel.
All presentations are in pdf format.
Monday, October 2, 2023 |
Monday Morning General Session
presiding: Kazim Ozyurt, Massachusetts Dept. of Revenue and FTA Research Chair
Welcome to Salt Lake City
Commissioner John Valentine, Utah State Tax Commission
Macroeconomic Outlook
Chris Varvares, S&P Global Market Intelligence
What are NFTs, Blockchain, Bit Coin Mining and Cybercurrencies and Is Your State Looking at the Tax
Karey Barton, KPMG [presentation]
Using Cell Phone Data to Forecast State Revenue
Thomas Young, Ph.D., Econometric Studio [presentation] |
Lunch [with speaker]
Gary Cornia, Professor, Marriott School at BYU |
Concurrent Sessions SECTORIAL OUTLOOK
moderator: Kazim Ozyurt, Massachusetts Dept. of Revenue and FTA Research Chair
Managing a Research Section
How to Engage Elected Officials
Panel:
Zachary Wyatt, Missouri Dept. of Revenue
Luke Morris, Louisiana Dept. of Revenue
|
Tuesday, October 3, 2023 |
FTA-NTA Joint Session - Issues with State Business Taxes
moderator: Kazim Ozyurt, Massachusetts Dept. of Revenue and FTA Research Chair
Total State and Local Business Taxes - FY 2021
Andrew Phillips, Ernst & Young LLP [presentation] [papers] discussant: Michael Allen, Maine Revenue Services |
Concurrent Sessions Forecasting in a Changing Economic Environment (Post-pandemic)
Panel:
Making and Measuring Assumptions in South Carolina
Frank Rainwater, South Carolina Revenue & Fiscal Affairs office [presentation]
Kentucky Experience With Time Series and Structural Models
Greg Harkenrider, Kentucky Office of State Budget Director [presentation]
Short Run and Long Run Elasticity of Massachusetts Sales Tax: Cointegrating Error Correction Model
Sunil Pokharel, Massachusetts Dept. of Revenue [presentation]
Open Discussion
Conference participants will have the ability to discuss some of the economic/modeling techniques they use for their forecasts Gasoline Excise Tax Issues
moderator: Jake Feldman, Vermont Dept. of Taxes
The Impact of Electric Vehicle Adoption on Road Funding in Michigan
Chris Douglas, The University of Michigan-Flint and the Mackinac Center [presentation] [papers] SOLUTION SERIES I
REMI Forecasting Dynamic Economic and Fiscal Impacts of Policy with REMI Tax-PI Peter Evangelakis and Julian Cook, REMI Description: REMI Tax-PI is a tool trusted by state and local governments for evaluating the dynamic economic and fiscal impacts of a wide variety of policies, ranging from changes in tax structure to economic development projects and their associated incentives. Join us for a live demonstration of Tax-PI by Peter Evangelakis, Ph.D., Senior Vice President of Economics and Consulting at REMI, and Julian Cook, Senior Associate at REMI. We encourage everyone who may be interested to attend, and we will be more than happy to answer any questions during or after the presentation. |
SOLUTION SERIES II
Chainbridge Software LLC Estimating the State Revenue Effects of Expiring Provisions of the TCJA Jaime Copenhaver and Bibek Sharma, Chainbridge Software Description: During this presentation, Jaime Copenhaver and Bibek Sharma will discuss the expiring provisions of the TCJA and demonstrate how the PolicyLinks system may be used to estimate the state revenue effects of these provisions. |
Pass Through Entity Tax Workarounds
Panel
Joshua Goldstein and Eden Mulate, New York City Office of Management and Budget
Colby White, California Department of Finance and Allen Prohofsky, California Franchise Tax Board [presentation] Nontax Policy Changes Affecting Revenues
Economic and Revenue Impact from the End of the Student Loan Moratorium
Matthew Knittel, Pennsylvania Independent Fiscal Office [presentation] SOLUTION SERIES III
Moody's Analytics Modeling A Consumer Credit Crunch Haley Curtin, Moodys Analytics Description: Consumers have been a key firewall between recession and continued growth. But what if that barrier were to crumble? In this session, Haley Curtin from Moodys Analytics will present an outlook for consumers and highlight the potential downside risks to spending. Moodys Scenario Studio platform will be used to demonstrate a shock to consumer credit and its implications for the economy and tax revenues. |
SOLLUTION SERIES IV
Avalara Simplification and Transparency Conan Royce, Avalara Description: Come hear a case study of what Avalara is doing to assist in bringing simplification and transparency to Indirect Tax. There will be a demonstration of the State Sales Tax Lookups in place for Alaska, Colorado, and Missouri. |
Wednesday, October 4, 2023 |
Wednesday Morning General Session
presiding: Kazim Ozyurt, Massachusetts Dept. of Revenue and FTA Research Chair
Stress-Testing the Budget in Utah
Phil Dean, University of Utah and Robbi Foxxe, Utah Governor's Office of Planning & Budget [presentation]
A Nationwide Review of Tax Burden and Tax Changes for 2021-2022
Susan Steward, the District of Columbia Office of Revenue Analysis [presentation]
See You in Norfolk, VA
October 5-9, 2024 |
2022 FTA Revenue Estimating Conference - Registration
The Conference Registration Fees are:
- $587 for Government or Academic
- $687 for Industry
- $100 Guest (includes reception & banquet)
2022 FTA Revenue Estimating Conference - Hotel
The conference was held at the Sheraton Salt Lake City Hotel, 150 West 500 South, Salt Lake City, UT 84101. The hotel is conveniently located in the downtown business and entertainment districts with easy access to shops and restaurants. It is near some of the area's top attractions, including Temple Square, Vivint Smart Home Arena, Utah State Capitol, City Creek Center, and Eccles Theater.
The Conference rate
- $128* per night plus taxes (13.82%)
Reservations
All reservations must be made individually through the hotel's reservations number 1-88-627-8152* or website.
Reservations must be made by September 9 to received the conference rate.
*please inform the reservations clerk that you are attending the FTA Revenue Estimating Conference.
Need help, contact Ron Alt at <ron.alt@taxadmin.org>.
202 FTA Revenue Estimating Conference - Local Salt Lake City Information
Located in the downtown business and entertainment districts, the Sheraton Salt Lake City Hotel is conveniently to many shops and restaurants and is near some of the area's top attractions, including Temple Square, Vivint Smart Home Arena, Utah State Capitol, City Creek Center, and Eccles Theater. Go to the visitsaltlake.com/ website for information on restaurants and things to do in Salt Lake City.
Getting Around
Salt Lake City is a very walkable city with many shops and restaurants nearby. Still, Utah Transit Agency's TRAX light rail is another convenient way to get around. Travel between the 8-downtown stations is free, and the cost is only $2.50 per ride outside the downtown area.
For more information, see the www.rideuta.com website.
2023 FTA Revenue Estimating Conference - Marketing Partners
FTA would like to Thank our Marketing Partners:
Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, ecommerce, and other financial management system providers, Avalara delivers cloud-based compliance solutions for various transaction taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Brazil, Europe, and India. More information at Tax compliance software and automated solutions - Avalara. https://www.avalara.com/.
Chainbridge Software has been working with state governments for over two decades building and delivering tax policy analysis models (PolicyLinks), consulting on a variety of projects and performing transfer pricing analyses (ComplianceLinks). Chainbridge’s list of clients includes the states of Alabama, California, Connecticut, Maine, Minnesota, Mississippi, New Jersey, Vermont and Rhode Island, the Commonwealth of Virginia, and the District of Columbia, among others.
PolicyLinks is the most advanced microsimulation tax policy modeling system available today. This tax policy analysis tool determines how changes to tax policies affect taxpayers by income classification, total revenue, and receipts.
FAST Enterprises (FAST) is a global leading software consulting firm for government agencies. More than fifty-six tax and revenue agencies worldwide, including 32 US states, currently use our award-winning flagship platform, GenTax, to process taxes in multiple categories. Since 1998, GenTax’s intuitive and configurable design has helped revenue agencies modernize their operations, adapt to unforeseen circumstances, reduce inbound communications, and continuously expand capabilities. GenTax is built on our highly flexible FastCore platform, which is currently in production in 95+ government agencies worldwide that administer tax services, child support, unemployment insurance, motor vehicle registration, and driver licensing. GenTax is the proven solution for modern tax processing. https://fastenterprises.com
Moody’s AnalyticsOur deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit our website or connect with us on Twitter and LinkedIn.
Moody's Analytics, Inc. is a subsidiary of Moody's Corporation (NYSE: MCO). Moody's Corporation reported revenue of $5.4 billion in 2020, employs approximately 11,500 people worldwide and maintains a presence in more than 40 countries.
REMI (Regional Economic Models, Inc.) is a leading the leading local, state, and national economic policy model firm. REMI provides a suite of economic modeling software, including Tax-PI, which is used by analysts to evaluate the total effects of policy change. The company assists agencies at every level of government, such as state departments of revenue, leading non-profit and trade organizations, universities, and consulting firms.
- Tax-PI is the only widely available software solution that shows both the dynamic economic and fiscal effects of tax and other policy changes over time. Analysts can use the premier tool to produce dynamic analysis and help decision makers anticipate year-by year revenue effects of different alternatives.
- PI+ generates comprehensive year-by-year estimates of the total local, state, and national effects of any specific policy initiative. The software allows users to simulate “what if” scenarios and assess the direct and indirect implications of policy options.
- REMI will be making appearance throughout the conference. We hope you will join us for a presentation titled “Forecasting Dynamic Economic and Fiscal Impacts of Policy with REMI Tax-PI”, which is being presented by Peter Evangelakis, Ph.D., Senior Vice President of Economics and Consulting at REMI, and Julian Cook, Senior Associate at REMI. This presentation is occurring from 10:45am-11:30am on Tuesday, October 3rd in the Sundance-Solitude room.
See the REMI table near the registration desk or visit their website <https://www.remi.com/> for more information.
Tax Notes is the first source of essential daily news, analysis, commentary, and research for tax professionals whose success depends on being trusted for their expertise.
Tax Notes is a portfolio of publications offered by Tax Analysts, a nonprofit tax publisher. It provides comprehensive and impartial coverage of tax news, while its commentary contributes important voices to the discussion and understanding of tax policy. https://www.taxnotes.com
For more information, see the Marketing Partner Website.
or contact Keith Biersner
571-233-4503