Press Room: Article
Business Activity Tax Simplification Act of 2011
On April 8, 2011, House of Representatives Bill 1439, the Business Activity Tax Simplification Act of 2011 (The Bill) was introduced to Congress. This proposed legislation seeks to modify the following three areas of state taxation: (1) the application of Public Law 86-272; (2) the physical presence nexus standard; and (3) the calculation of tax liability in group returns.
If passed, The Bill would be effective as of January 1, 2012, and could have a significant impact on many taxpayers’ multistate filing obligations.