Knowledge Center

Friday, August 08, 2014

HMB's Marilyn Wethekam Quoted in Tax Analysts Article on State Corporate Income Tax

"States Trending Toward Market-Based Sourcing for Intangibles"

Excerpt from Tax Notes/State Tax Today, Friday, August 8, 2014

Sourcing sales for state corporate income tax purposes is increasingly difficult as revenue is generated from services or intangible property, Arthur Parham of Entergy Services said August 7.

Parham made his comments while participating on a panel at the Georgetown University Law Center Advanced State and Local Tax Institute. He was joined by Michael Fatale, chief of the Massachusetts Department of Revenue's Rulings and Regulations Bureau, and Marilyn Wethekam of Horwood Marcus & Berk.

Members of the panel said the Multistate Tax Commission has been slow in enacting rules to recognize the shift toward market-based sourcing. One of the reasons for the delay, Fatale said, is that there is a large resistance to that approach from the corporate community that is pushing for it in their state but opposing it elsewhere.

To read more, please visit the Tax Analysts website.

Copyright 2014 Tax Analysts. Reprinted with permission.

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