Latest News

State Fiscal Outlook: It's bad and it's going to get worse before it gets better

It's bad: According to data from the U.S. Department of Commerce, Bureau of Economic Analysis, total state and local government surpluses fell from a record high of $63.1 billion) in the second quarter of 2006 to a deficit of $103.6 billion in the third quarter of 2008, the latest data available (both figures are seasonally adjusted at annual rate). Total state and local government surpluses were $4.7 billion in the third quarter 0f 2008. Total state and local government borrowing went from $33.4 billion in the first quarter of 2006 to more than $200 billion in the third quarter of 2008. See the accompanying chart for state and local budget deficits and surpluses and net borrowing from the first quarter of 1990 to the third quarter of 2008. Read more...

The Business Activity Tax Simplification Act of 2009

The latest iteration of the Business Activity Tax Simplification Act, it is almost identical to the previous versions of this bill. Read more...

Business Tax Provisions of the Stimulus Package

As a service to those who peruse our website, the Policy Research Division staff has culled the business tax provisions from the stimulus package that was recently signed off on by the House and Senate. Read more...

Musings from the BAT Cave

Elliott Dubin, Director of Policy Research and Cameron Snow, Policy Research Intern, Multistate Tax Commission. This article refutes the hypothesis made by some persons and organizations that extending the protections of Public Law 86-272 to sales of services and intangibles would have a significant, positive effect on business investment. The proponents of imposing a federally mandated physical presence nexus standard argue it would greatly reduce the uncertainty caused by the complexity of current state business activity tax nexus standards; and, that the purportedly reduced uncertainty would result in a higher level of business investment. The authors find that current economic conditions and other factors far outweigh nexus standards in determining investment.

Please visit our Publications page to read this article in full text.

Joe Thomas Awarded 2008 Wade Anderson Medal

On July 30, 2008, Joe Thomas of the Connecticut Department of Revenue was presented with the fifth annual Wade Anderson Memorial Medal for Leadership in Interstate Tax Cooperation. The Wade Anderson Medal is presented in alternating years at the annual meetings of the FTA and MTC to the individual who best exemplifies the commitment to interstate cooperation to promote fairness, simplicity, and consistency in state tax policy and administration. Read more...

Jim Peters Receives 2008 MTC Paull Mines Award

On July 30, 2008, Jim Peters was presented with the first annual Paull Mines Award for Contribution to State Tax Jurisprudence. The Commission is pleased to recognize Jim’s outstanding contributions to state and local tax legal practice. Read more...

Uniformity Committee Financial Institutions Work Group

Agendas (5/26/2009) 

Online Documents