Business-Activity Tax Bill Set to Return

Vadum, Matthew
February 2005
Bond Buyer;2/7/2005, Vol. 351 Issue 32065, p5
Trade Publication
The article reports that the legislation that would limit the ability of state and local governments to impose business-activity taxes on out-of-state businesses will be reintroduced. The bill failed to win congressional approval in 2004. It would bar states and localities from levying franchise taxes, business-license taxes, and other business-activity taxes against any out-of-state company unless the company has a nexus or a substantial physical presence in the taxing state.


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