This Lawmaker’s Guide, written by Robert Cline, Ernst & Young LLP, was funded by the Deloitte Multistate Tax Center at the University of Wisconsin, Milwaukee. In this article, published in the Journal of State Taxation, Robert Cline sheds insight on the multitude of results combined reporting can have on taxable income by demonstrating significant and unintended results on taxpayers, as well as the uncertain and often negative revenue and economic impacts on states that have implemented combined reporting.
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This story is from the CCH’s monthly Focus on Tax newsletter, which provides advise and guidance on federal and state tax issues for tax and accounting professionals.
Read this article from CCH’s Journal of Taxation of Financial Products