True Partners Insights

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Troy R. Wangen of TPC May 2019 UPPO President’s Message from Troy Wangen

I am honored to serve UPPO as this year’s president, and I am excited about our future as we embark on a new, three-year strategic plan. To help focus our work over the next few years, UPPO board members and key committee leaders participated in a strategic planning session in Minneapolis last July, as well as a special meeting in December focused on advocacy. This intensive exercise and subsequent refinements […]

May 31, 2019

Delaware’s “SOS” to get Companies into their VDA program

Delaware’s Secretary of State (SOS) has begun issuing a new round of letters inviting companies to enter the Voluntary Disclosure Agreement (VDA) Program to ensure compliance with Delaware’s Abandoned or Unclaimed Property Law. Companies that receive VDA invitation letters from the SOS have 60 days from the date of the invitation to enroll.  If a company ignores the letter and does not enroll within 60 days of the invitation mailing, […]

May 29, 2019

Unclaimed Property Advisors Share Best Practices – Panel Recap from IOFM AP & P2P Spring Conference

Christina Casey and I recently exhibited at the 2019 IOFM AP & P2P Spring Conference & Expo in Orlando, FL, at Disney’s Yacht & Beach Club Resort.  APP2P connects accounts payable executives, leadership members and their teams, to focus on issues impacting their departments including A/P disbursements, procurement, payment automation, fraud, tax, and unclaimed property related audit risk and compliance issues. True Partners was excited to connect with many accounts payable professionals via […]

May 24, 2019

Top State and Local Tax Issues for Private Equity Firms

Private equity firms face an increasingly complex tax environment. The combination of the 2017 Tax Cuts and Job Act, the historic U.S. Supreme Court Wayfair ruling last summer, and the growing trend of states adopting market-based sourcing, have put many new rules and regulations on the table. As these changes take effect, it’s more important than ever for firms to be up-to-date from a tax perspective. Here’s a brief look […]

May 23, 2019

What Market-based Sourcing Rules Mean for Private Equity Firms

Over the last few years, a transformation has been taking place in state and local income taxes—the shift to market-based sourcing for services income. Today, more than half of the states have adopted market-based sourcing. The result is more complexity and uncertainty for private equity firms. Cost of performance vs. market-based sourcing Historically, most states used the cost of performance (COP) method for apportioning service revenue to a particular state. […]

May 23, 2019

True Partners is a 2019 Best Place to Work in Chicago

To determine the 2019 Best Workplaces in Chicago, Great Place to Work® analyzed anonymous survey feedback from almost 19,000 employees working in the Chicago metro area. We are excited and proud to be listed among these elite employers in Chicago! View the 2019 List here (scroll down for Small and Medium Companies) View our Best Place to Work profile here.

May 21, 2019