More States Consider Combined Reporting
Combined reporting is
And its catching on. Since Mississippi, Maryland and Tennessee held hearing to consider instuting combined reporting earlier this year, several other states are investigating the policy. In their November 11 Legislative Alert e-newsletter, The Council on State Taxation (COST) reported that Massachusetts and North Carolina are both looking at combined reporting. The Massachusetts Department of Revenue issues
Massachusetts: Department of Revenue Issues Combined Reporting Working Draft Regulation
On Nov. 6th, the Department of Revenue (DOR) issued a working draft regulation with respect to the mandatory unitary combined reporting legislation enacted earlier this year. Comments are due to the DOR no later than Dec. 5th, 2008.
North Carolina: Revenue Laws Study Committee Hears Combined Reporting Testimony
The Revenue Laws Study Committee, a committee that meets between legislative sessions to formulate tax policy, will be hearing testimony Nov. 19th concerning mandatory unitary combined reporting. Both proponents and opponents, including COST, will testify on the issue. Further details will be reported as they emerge.
What this means...