In a rare special meeting on February 24, 2017, the Multistate Tax Commission (MTC) adopted amendments to the MTC’s Model General Allocation and Apportionment Regulations (Model Regulations) that it has worked on since 2014....more
On February 11, the United States Senate approved a permanent extension of the Internet Tax Freedom Act (ITFA) contained in the Conference Report accompanying H.R. 644, the “Trade Facilitation and Trade Enforcement Act of...more
The Multistate Tax Commission (MTC) advanced several items of interest during its annual fall meetings held in Charleston, South Carolina, this week, including the creation of a new committee to continue gathering support for...more
Today, the U.S. Supreme Court vacated the decision of the Massachusetts Supreme Judicial Court (SJC) in First Marblehead Corp. v. Commissioner of Revenue (First Marblehead) and remanded the case back to the court for...more
10/14/2015
/ Apportionment ,
Corporate Taxes ,
Double Taxation ,
Financial Institutions ,
First Marblehead v MA Commissioner of Revenue ,
Investment Portfolios ,
Petition for Writ of Certiorari ,
Residency Test ,
SCOTUS ,
Securitization ,
Wynne
On September 30, the U.S. House of Representative voted in favor of H.R. 719, which includes provisions extending the Internet Tax Freedom Act (ITFA) through December 11, 2015. The bill, passed earlier in the day by the...more
On August 7, the Chicago Department of Finance delayed the effective date of the imposition of the Personal Property Lease Transaction Tax (the Lease Tax) on cloud computing services from September 1, 2015, to January 1,...more
Yesterday, the Multistate Tax Commission (MTC) held its annual meeting in Spokane, Washington. The meeting is the annual event where full MTC member states approve model laws in their final version. The approved versions are...more
Yesterday, the Multistate Tax Commission (MTC) held meetings of its Litigation, Uniformity, and Strategic Planning Steering Committees. The meetings were generally dominated by discussions of evolving apportionment issues,...more
The Multistate Tax Commission’s (MTC) Annual Conference and Committee Meetings are being held on July 27-30, 2015, in Spokane, Washington. On Tuesday, July 28, 2015, at approximately 1:00 pm PDT (exact time subject to...more
Yesterday, the Multistate Tax Commission (MTC) kicked off its annual conference and committee meetings with meetings of the Audit and Nexus Committees. The MTC’s Audit program continues to grow by adding Iowa, Pennsylvania,...more
On June 2, 2015, the U.S. House of Representatives Judiciary Committee’s Subcommittee on Regulatory Reform, Commercial and Antitrust Law conducted a hearing on three state tax bills: the Mobile Workforce State Income Tax...more
After nearly a year of planning, the Multistate Tax Commission Executive Committee today approved the Arm’s-Length Adjustment Services Advisory Group (the Group) Final Program Design. The following six states have agreed to...more
In the ongoing saga over Colorado’s use tax reporting laws in Direct Marketing Association v. Brohl (DMA), the U.S. Court of Appeals for the Tenth Circuit ordered a full briefing on the Comity Doctrine and the Commerce Clause...more
Yesterday the U.S. Supreme Court unanimously held in Direct Marketing Ass’n v. Brohl that the Tax Injunction Act (TIA) does not bar Direct Marketing Association’s federal lawsuit against Colorado.1 The TIA provides that...more
On June 2, the Arm’s Length Advisory Group (the Group) of the Multistate Tax Commission (MTC) met in St. Louis, Missouri, to begin the process of developing a multistate arm’s length pricing adjustment service. States...more
On Thursday, May 8, the Multistate Tax Commission’s (MTC) Executive Committee (Committee) met in Washington, DC. During the meeting the Committee voted to advance its amendments to the Multistate Tax Compact’s (Compact)...more
In January, New York Governor Andrew Cuomo proposed broad corporate tax reform in his budget bill, which is currently winding its way through the legislature. The most significant proposal is a shift from a separate entity...more