TEI Holds Liaison Meeting with the Multistate Tax Commission
On May 12, 2016, TEI's State and Local Tax Committee had the opportunity to discuss two of TEI's state and local tax policy statements at the Multistate Tax Commission's Executive Committee meeting. TEI discussed the need to standardize the timing, triggers, and format for reporting federal revenue changes to state governments and best practices for audit procedures, as outlined in TEI's "Reporting Federal Income Tax Changes" and "Audit Procedures" policy statements. Committee member Richard O'Connor and TEI Tax Counsel, Pilar Mata, attended the meeting.
TEI Comments on the Multistate Tax Commission's Section 482 Project
On March 4, 2013, TEI submitted a memorandum to the Multistate Tax Commission (MTC) urging it to abandon a proposed project aimed at creating model regulations governing the use of state statutory authority to adjust income and expenses between related parties (i.e., transfer pricing).