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For your state and one of its neighbors, find the following income tax rules. Place your data in a chart, and e - mail your
For your state and one of its neighbors, find the following income tax rules. Place your data in a
chart, and email your findings to your instructor.
a To what extent does each state follow the rulings of the Multistate Tax Commission?
b Does the state adopt pertinent changes to the Internal Revenue Code? If so as of what
date?
c What is the highest income tax rate for corporations?
d Is the tax effectiveness of a passive investment company limited in some way? Has the
state adopted the Geoffrey approach see footnote p to the taxation of
income from intangibles? Explain.
e Does the state apply entitylevel income taxes for S corporations, partnerships, and
LLCs If so what are the terms of those taxes?
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