Change wins in New Jersey.(Chapter News)

Ron Lerner, President of the New Jersey Chapter, received a major endorsement from the membership, with more than 120 members attending the Chapter's Full-Day Spring Seminar, on May 30th at the Hyatt Morristown. The Seminar, co-sponsored by PricewaterhouseCoopers LLP, featured top speakers from across the country. Also during the meeting, Paul Cevoli received the Chapter's nod as incoming President for the 2008-2009 year. Not in attendance were John McCain and Barack Obama.

The late May date represented a challenge to the meeting's organizers, but President Ron Lerner pulled a rabbit out of the hat when favorable weather contributed to the draw. Registrants moved freely between sessions with the heightened anticipation of an election year. The nomination of Cevoli, a seasoned veteran of the chapter, contributed to the excitement, giving members a sense of anticipation about the upcoming year.

Co-sponsor PricewaterhouseCoopers rose to the occasion, fielding a roster of top-notch national and international speakers. The seminar commenced with a plenary session featuring Don Longano and Ed McClellan from the Washington National Office, who discussed the Federal Tax Legislative Outlook. In the international area, Todd Landau and Gilles Follana followed with two presentations: the Rangel Proposal and Treaty Developments in the morning, and Proposed Contract Manufacturing Regulations in the afternoon. In the state area, renowned speakers Jack Rothstein and Gregory Byrne provided a Connecticut and Illinois Update, and Kathy Freeman provided an update on California Audit Trends. Finally, Jennifer Sprang played a trump card, discussing international reporting standards and 'What it Means' for U.S. companies. With investors worldwide clamoring for financial comparability, the topic gains in relevance with each seminar.

In addition to speakers from PricewaterhouseCoopers, other noteworthy speakers also presented. Expert litigator Paul Frankel (Morrison & Foerster) provided a State Litigation Update with important developments fresh from the courtroom. Richard Genetelli (Genetelli Consulting Group) discussed the State Implications of Section 482, and Jason Zorfas (Ernst & Young) provided a Massachusetts Tax Update. In the international area, Brian Gleicher (White and Case) discussed Transfer Pricing and PE Issues, and Peter Daub (Baker & McKenzie) addressed Cross Border Financing and Repatriation Strategies. In the federal area, Janet Reynolds (KPMG) presented Tax Transformation of Tax Departments, Jane Rohrs and Brendan Cox (Ernst & Young) discussed Capitalization Rules, and Adam Cohen (Sutherland Asbill & Brennan) updated the Chapter on Section 162(m) and how to ensure continued deductibility.

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During the luncheon, President Ron Lerner introduced Robert Linaberry, New Jersey Tax Leader of PricewaterhouseCoopers LLP, who thanked the Chapter for the opportunity to co-host the seminar. Then Mr. Lerner gave the podium to incoming President Paul Cevoli, who presented Bob Magno with a Meritorious Service Award. Bob's many years of service to the Chapter, as an organizer andas Scholarship Chair, will not soon be forgotten. Finally, current Scholarship Chair, Jira Goldie, presented students from three New Jersey schools--Ramapo College, William Paterson University, and DeVry University--with a Certificate of Achievement and a $2,000 scholarship each. The students maintained outstanding academic records in undergraduate accounting programs.

Reflecting on the capstone to his year as President, Ron Lerner offered praise to the meeting's contributors: "PricewaterhouseCoopers carne through for us, and the rest of the speakers were just great. Our members emerged with a clearer understanding of tax developments on the horizon, and the challenges they'll face."

November Full Day Planned

The Chapter will hold its Full Day Fall Seminar on Friday, November 14, 2008. The meeting will be co-sponsored by Ernst & Young LLP. Members are encouraged to mark their calendars accordingly.

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Article submitted by James Goldie of the New Jersey Chapter.

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