MTC Guidance For Online Biz Tax Protections Clears Hurdle
Law360 (April 22, 2020, 8:41 PM EDT) -- A Multistate Tax Commission committee approved draft guidance Wednesday outlining how states can account for internet activity when interpreting a federal law that protects certain businesses from state income taxes, forwarding the document to another panel for further review.
The Multistate Tax Commission has worked for more than a year on a digital-era interpretation of the Interstate Income Act, a 1959 federal law shielding remote businesses from state income tax. The commission's member states approved a draft update to the MTC's statement of information on the Interstate Income Act of 1959 by a 20-0 vote, with three abstentions, during a meeting...
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