Staff of the MTC have prepared this briefing book to update our members on changes to the federal tax system affecting how multinational income is treated. The purpose of this briefing book is to provide background information on the interplay of the state and federal tax systems and how the federal system affects state taxation of multinational enterprises. The changes in the federal system will affect all states that tax business income, regardless of whether they conform to the new federal provisions.
To read the Changes in Federal Taxation of Multinational Corporate Groups (PDF) briefing book.