Utah ~ Corporate Income Tax: Senate Passes Bill to Repeal Multistate Tax Compact But Temporarily Reenact Most Sections

The Utah Senate has passed a bill that would repeal the Multistate Tax Compact from the state code, effective July 1, 2013, but temporarily reenact most sections other than the election, apportionment formula, and arbitration provisions. The reenacted sections and the compact’s interaudit provisions would be repealed from the state code on July 1, 2014. In addition, provisions concerning the State Tax Commission’s authority related to the Multistate Tax Commission would be amended, effective July 1, 2014, to provide that the State Tax Commission may participate in an audit, tax enforcement, or tax administration with the Multistate Tax Commission or a taxing official of another state, the District of Columbia, or the United States or its territories.

S.B. 247, as passed by the Utah Senate on March 11, 2013



Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

All stories by: Wolters Kluwer Tax and Accounting