IF Subcommittee Agenda 11/2011

Uniformity & Subcommittees

PUBLIC NOTICE AND AGENDA

Income and Franchise Tax Uniformity Subcommittee 
Doubletree Guest Suites Historic Charleston
181 Church Street
Charleston, South Carolina 29401
 

Tuesday, November 29, 2011
1:00 PM— 5:00PM 
Wednesday, November 30, 2011
8:30 AM— Noon

Call-In Number: 1-866-381-9862
Conference Code: 5364110

Dum Spiro Spero 
Animis Opibusque Parati

  Click here for a PDF copy of this agenda   
 
I. Welcome and Introductions
II. Public Comment Period
III. Reports and Updates
  A. Federal Issues Affecting State Taxation
  1. H.R. 1439, Business Activity Tax Simplification Act of 2011
    2. H.R. 1864, Mobile Workforce State Income Tax Simplification Act of 2011
    3.  H.R. 1416, Crime Victim Restitution and Court Intercept Fee Act
  B.  Report on Commission Action on Uniformity Projects
  1. Model Statute for Disallowance of Deductions for Payments to Captive Real Estate Investment Trusts
    2. Model Mobile Workforce Statute
    3.  Model Statute for Combined Reporting: Definition of “Tax Haven” for Purposes of Water’s Edge Election
    4. Partnership or Pass‐Through Entity Income Ultimately Realized by an Entity That Is Not Subject to Income Tax Withholding for Multistate Employees
    5. Amendment of Multistate Tax Compact Article IV.1(g) (Definition of Sales)
      Memorandum to Executive Committee 
    6. Amendment of Multistate Tax Compact Article IV.17 (Sales Factor – Sourcing for Services and Intangibles)
      Memorandum to Executive Committee
IV. Project to Amend MTC Model Financial Institutions Apportionment Rule 
  A. Report from Work Group
  B. Public Comment
  C. Committee Discussion
V. Project to Amend Multistate Tax Compact Article IV.9 (Factor Weighting)
  A. Presentation of Staff Memorandum and Language Options
  B.  Public Comment
  C. Committee Discussion
VI. Project to Amend Multistate Tax Compact Article IV.1(a) (Definition of "Business Income”)
  A. Presentation of Staff Memorandum and Language Options 
    Excerpt from “Expert Treatise Series: State Taxation of Income and Other Business Taxes by Ben Miller and Kitty Wright”
B. Public Comment
C. Committee Discussion
VII. Project to Amend Multistate Tax Compact Article IV.18 (Distortion Relief) 
  A.  Presentation of Staff Memorandum, Materials and Language Options
    Excerpt from "Expert Treatise Series: State Taxation of Income and Other Business Taxes by Ben Miller and Kitty Wright"
B. Public Comment
C. Committee Discussion
VIII. Project Regarding Partnership or Pass‐Through Entity Income Ultimately Realized by an Entity That Is Not Subject to Income Tax
  A. Presentation of Staff Memorandum
B. Public Comment
C. Committee Discussion
IX. Possible New Project Regarding Interpretation of Art.IV.3 (Taxable in Another State)
  A. Presentation of Staff Memorandum, Materials and Language Options Staff Memorandum
    Additional Materials
B. Public Comment
C. Committee Discussion
X. New Business
XI. Adjourn
 
 
Additional information on this meeting and agenda may be secured from Roxanne Bland, Multistate Tax Commission, 444 North Capitol Street, N.W., Suite 425, Washington, D.C. 20001-1538, Telephone: (202) 624-8699, Fax: (202) 624-8819, E-mail: rbland@mtc.gov.