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Mar. 21, 2017

Multistate tax commission adopts income apportionment rules

Last month, the MTC held a special meeting and voted to approve a resolution adopting the Model General Allocation and Apportionment Regulations. By William H. Gorrod

William H. Gorrod

Shareholder
Greenberg Traurig LLP

By William H. Gorrod

Since 2014, a Multistate Tax Commission (MTC) working group composed of state tax authority representatives has held weekly meetings to draft a model market-based sourcing regulation for apportionment of income for state corporate income tax purposes. On Feb. 24, the MTC held a special meeting and voted to approve a resolution adopting the Model General Allocation and Apportionment Regulations.

While the model regulati...

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