For the first time in its history, the Multistate Tax Commission (MTC) held its 2020 Spring Committee Meetings via teleconference in lieu of the in-person meetings originally scheduled to take place in Alexandria, Virginia. The Uniformity Committee held its meeting on April 22, while the Nexus and Audit Committees held meetings on April 21. Portions
Marketplace Monday – MTC Marketplace Update
Since its annual meeting in Boise, Idaho, in early August, the MTC has held a series of teleconference calls to discuss the priority marketplace issue list that was developed based on state input. The purpose of these calls is to solicit additional feedback from the states and business community on the issue list for
Legal Alert: MTC Executive Committee advances significant part of UDITPA rewrite
On Thursday, May 8, the Multistate Tax Commission’s Executive Committee met in Washington, DC. During the meeting the Committee voted to advance its amendments to the Multistate Tax Compact’s definition of nonbusiness income, definition of “sales,” factor weighting, and the sourcing of service and intangible revenue. The next step in the Compact’s amendment process—which is
Legal Alert: MTC to explore apportionment regulations for cloud services, software and electricity
While meeting in Denver this week, the Multistate Tax Commission’s Income Tax Uniformity Subcommittee advanced two separate projects to develop industry-specific apportionment regulations. One project will look at the electricity sales factor and the other will look at methods to source cloud services and software. Industry-specific apportionment projects like these help demonstrate why the MTC
Legal Alert: MTC seeks more bucks using transfer pricing audits
The Multistate Tax Commission plans to announce that they are accelerating their development of a transfer pricing audit program by soliciting the assistance of Dan Bucks, the former MTC Executive Director and Montana Director of Revenue. New Jersey recently asked the MTC to consider hiring transfer pricing auditors to assist in its Joint Audit Program