The impact of the interstate Commerce Clause on state taxation

Article Abstract:

States have historically disregarded or attempted to avoid Commerce Clause scrutiny of their taxation of interstate business for the purpose of encouraging businesses to locate and provide jobs within their boundaries. Continual federal court failures have not stopped attempts at providing favorable tax treatment for local businesses which result in unconstitutional discrimination against out-of-state businesses. However, states have been more successful at discrimination when tax credits or tax incentives involving income apportionment are involved.

States, Interstate commerce, Conflict of laws

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MTC financial institutions regulations, summary of 1996 actions by states

Article Abstract:

Eleven states have substantially adopted the Multistate Tax Commission's "Proposed Uniform Method for Allocation and Apportionment of Net Income from Financial Institutions," but the attempted uniformity has been undermined by areas not covered by the guidelines. The 1994 MTC proposal did not address the definition of financial institutions, nexus rules or combined reporting issues. The MTC proposed equal weighting of payroll, receipts and property factors in apportioning income, but many states use super-weighted formulae.

Banking Institutions, Depository Credit Intermediation, DEPOSITORY INSTITUTIONS, Banks (Finance), Financial institutions, states

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Choosing and working with an electing small business trust

Article Abstract:

The author discusses the requirements of electing small business trusts, their use, operation, and taxation.

Management, Small business, Trusts and trustees, Trustees, Trusts (Law)

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