MFM Summit to Address how Federal Tax Reforms Impact State Laws

“State Conformity to Federal Tax Reform” will be a key topic of discussion during the Media Financial Management Association’s (MFM’s) Media Tax Summit on Thursday, December 12. Kenneth R. Levine, partner in the state tax group at Reed Smith LLP, and Sebastian C. Watt, an associate also in the firm’s state tax group, will lead the session. The daylong event will be held at the offices of Jones Walker, LLP 201 in New Orleans; it is scheduled from 8:15 am to 5:00 pm, with a cocktail reception immediately following.

The session will cover the following:

· How federal tax reform impacts state income taxes—and why companies should care;

· Top tax changes affecting media companies;

· Laws, guidance, and positions not to miss such as testing the interest expense limitation on a separate company/combined group basis, excluding foreign income, preserving tax attributes;

· Considerations to weigh in taking return positions, filing refund claims, and appealing to court;

“MFM’s Tax Summit offers senior media tax professionals actionable information from recognized authorities in their field,” said Mary M. Collins, president and CEO of MFM and its BCCA subsidiary, the media industry’s credit association. “Kenneth’s and Sebastian’s extensive experience in nationwide state issues will make this an insightful session for our attendees.”

Co-Chairing the Summit will be Paul Nesterovsky, vice president, Tax, Sinclair Broadcast Group, Inc. and Sean Hetzler, senior director, Tax, TEGNA Inc. The seminar will cover various tax issues important to media companies including domestic tax reform; a media-specific look at mergers and acquisitions and associated transaction costs; along with a review of the tax implications of various accounting methods commonly used in media businesses.

The cost for the Summit is $495 for members and $745 for non-members, which includes a one-year trial membership. These rates have been extended through midnight on November 26; after that date, they will increase by $100. Accommodations for the Summit may be booked online at the Renaissance New Orleans Pere Marquette (French Quarter Area Hotel).

About Our Presenters

Kenneth R. Levine is a partner in Reed Smith’s State Tax Group. His practice focuses primarily on multi-state corporate tax and sales and use tax issues. He represents clients in a wide range of industries in connection with state tax return positions, audits, administrative appeals, and litigation in various jurisdictions. He has written extensively on tax issues covering multiple states and is a sought-after speaker.

Sebastian C. Watt is an associate in the State Tax Group. His practice focuses on Pennsylvania tax controversy, where he has handled matters from the first stage of administrative appeal to Commonwealth Court, Massachusetts tax issues, and multistate federal conformity issues. Prior to joining Reed Smith, he spent several years working in federal and international tax, giving him a unique perspective on state tax issues.

More information and an online registration form may be found on MFM’s website 

About MFM and BCCA

Media Financial Management Association (MFM) is the premiere resource for financial professionals for media industry education, networking, and information sharing throughout the U.S. and Canada. More information about MFM is available on its Web site: and via its updates on LinkedIn, Facebook and Twitter. Its BCCA subsidiary serves as the media industry’s credit association. BCCA’s revenue management services encompass a variety of credit reports on national and local media advertisers and agencies, including Media Whys, a credit report for media businesses that offer a credit score based on industry-specific aging combined with trade data from Experian or D+B. More information about BCCA is available at, as well as its updates on LinkedIn, Twitter and Facebook.