State and Local Tax (SALT) attorney Jimmy Long was quoted in Bloomberg BNA on a combined reporting bill that is on Alabama tax officials’ agenda again for the 2017 state legislative session. The bill would impose mandatory unitary combined reporting (MUCR) for corporate income tax filers in the state and would force multistate companies to file a single, combined return for all subsidiaries within a unitary group—replacing Alabama's current separate reporting policy that lets companies file a return for each subsidiary.
The bill is “essentially the same MUCR proposal that has been introduced the past three years in Alabama,” Long explained. The proposals typically don't gain much traction in the legislature, although one such proposal did win Senate finance committee approval in 2015, he noted.
The complete article, “Long-Shot Combined Reporting Bill Returns To Alabama Senate,” appeared in Bloomberg BNA on February 10, 2017. (login required)