State and Local Tax (SALT) attorney Bruce Ely was quoted in Bloomberg BNA on an Alabama Senate committee’s decision to vote down legislation that would impose combined income reporting requirements. The legislation, S.B. 67, would have forced businesses to report income for all related subsidiaries on a combined basis; almost half of U.S. states impose such a regime. But business groups and tax practitioners say the proposal would hurt Alabama's ability to recruit new businesses, as it would be the only state in the southeastern U.S. requiring combined reporting.
“Each year the business community and the economic development community unite to explain to legislators how damaging this bill would be for Alabama's pro-business reputation,” said Ely, who also serves on Bloomberg BNA's State Tax Advisory Board.
The complete article, “Alabama Kills Combined Reporting Bill Again,” appeared in Bloomberg BNA on April 10, 2017. (login required)