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July/August 2023 » The Current State of the Multistate...
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Corey L. Rosenthal, JD, and Arvinder Kaur, CPA, and Jamie Kelly, JD
In the last two years since the Multistate Tax Commission (MTC) adopted the fourth revision to its Public Law 86-272 Statement, there has been limited state adoption of the new revision. The adoption, nevertheless, has been consequential and is setting the stage for whether there will be mass adoption of the revision in the future. Given the evolving nature of this issue, and the potential for retroactive effects, it is necessary for SALT advisors to be mindful of P.L. 86-272 when addressing companies' state tax nexus and filing obligations. As such, this article will address these adoptions and the resulting legal actions and effects on companies.
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