• The Multistate Tax Commission Takes Action on Proposal to Tax Pass-Through Entities Owned by Affiliates Not Subject to Corporate Income Tax
  • March 15, 2011
  • Law Firm: Sutherland Asbill Brennan LLP - Washington Office
  • On March 10, 2011, the Executive Committee of the Multistate Tax Commission (MTC) voted to submit to public hearings the model statute that would subject to corporate income tax a pass-through entity owned by an entity that is not subject to corporate income tax (Model Statute). The Model Statute could result in a tax increase for insurance companies and others not subject to an adopting state’s corporate income tax.