Shaking things up in state and local tax
Shaking things up in state and local tax
By Samantha Trencs and Eric Tresh
The Michigan Court of Appeals held that the mandatory apportionment provision of the Michigan Single Business Tax Act did not impliedly repeal Michigan’s enactment of the Multistate Tax Compact’s alternative apportionment election provision. In addition, the court held that the Single Business Tax (SBT) was an income tax under…
On December 10, 2010, the largest bipartisan organization of state representatives – the National Council of State Legislators – voted to support the adoption of a multistate compact that could affect many captive insurance companies.
The compact provides for the centralized collection and allocation of state premium taxes imposed on property and casualty insurance obtained…
