States Look to Combined Reporting to Generate Revenue

Stein, Eric L.
July 2011
Journal of State Taxation;Jul/Aug2011, Vol. 29 Issue 5, p27
Academic Journal
The article reports on the approaches of U.S. states toward combined reporting in early 21st century in response to the declining revenue. It says that Vermont in 2004 had adopted combined reporting, a revenue-producing method that requires a multistate business to report its overall income or loss. It adds that such states as Michigan, New York, and Texas followed suit, but others were reluctant to adopt the system, which prevents the company from reducing its corporate tax by income shifting.


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