IF Subcommittee Agenda 12/2012

Income and Franchise Tax Uniformity Subcommittee

The Westin - Downtown, Denver 
1672 Lawrence Street
Denver, Colorado 80202

Wednesday, December 5, 2012
8:30 AM— 12:00 PM

Call-In Number: (888) 809-4012
Conference Code: 483929

Nil Sine Numine
I. Welcome and Introductions
II. Public Comment Period
III.   Approval of Minutes of In-Person Meeting July 29, 2012 
IV. 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.  S. 1811, Telecommuter Tax Fairness Act of 2011
  B.  Report on Commission Action on Uniformity Projects
    1. Recommended Amendments to Compact Art. IV [UDITPA]
      — § 17, Sales factor sourcing for services and intangibles
      — § 1(g), Definition of “sales”
      — § 1(a), Definition of “business income”
      — § 9, Factor weighting
      — § 18, Distortion relief
    2. Model Statute for Partnership or Pass‐Through Entity Income Ultimately Realized by an Entity That Is Not Subject to Income Tax
V. Project to Amend MTC Model Financial Institutions Apportionment Rule 
  A. Report from Work Group
  B. Public Comment
  C. Committee Discussion
VI. Process Improvements Discussion
  A. Presentation of Staff Memorandum
  B. Public Comment
C. Committee Discussion
VII. Possible New Project Regarding State Use of “Section 482”Authority
  A. Report on Outreach; Staff Memorandum
  Powerpoint Presentation of IRC Section 482
B. Public Comment
C. Committee Discussion
VIII. New Business
IX. Adjourn