PR.com: Business Directory, Press Releases, Jobs, Products, Services, Articles
 
Businesses Articles Press Releases Follow @PRcom
Press Release Pricing | News by Category | News by Country | News by US Region | Recent News | PR.com News on Your Site
 

Press Releases

 
Council On State Taxation

Press Release

Share      Blog

Receive press releases from Council On State Taxation: By Email PDF Version RSS Feeds:

Many State Unclaimed Property Laws Miss the Mark; Delaware Earns an "F" in New State-by-State Ranking Released Today by the Council on State Taxation (COST)


Washington, DC, January 13, 2009 --(PR.com)-- The unclaimed property laws in many states are woefully lacking in fairness and effectiveness according to a new study released today by the Council On State Taxation (COST). "States that have unclaimed property laws that unite owners with their property in a manner that is least burdensome to owners, holders and the states receive top grades in the COST study, while, in my opinion, states like Delaware that have lost sight of the purpose for unclaimed property laws receive low—or failing—grades," states Jana Leslie, Staff Counsel of COST. (The complete study is available at www.cost.org.)

“Unclaimed property laws authorize states to ‘stand in the shoes’ of the lost property owner until she can be reunited with her lost property,” said Doug Lindholm, COST’s President & Executive Director. “Unfortunately, in many states, these laws lack clarity, fairness, and consistency and often result in an arbitrary ‘taking’ of property from businesses.”

COST Pushes States Toward Reform of Unclaimed Property Laws

Improving the laws governing unclaimed property laws is a priority for COST and its membership of over 600 major companies. Compliance with unclaimed property laws demands a system perceived by holders of unclaimed property to be balanced, fair and effective. This new study provides a roadmap for legislators who seek to ensure that their state’s unclaimed property laws accomplish those objectives.

###
Contact Information
Council On State Taxation
Jana Leslie
202-484-5219
Contact
www.cost.org

Click here to view the list of recent Press Releases from Council On State Taxation
Promote Your Business