Bradley attorney Bruce Ely talked with Law360 about a Multistate Tax Commission (MTC) work group’s issue of how to source state income from partnerships and upcoming work on a model rule to treat partners’ guaranteed payments in the same manner as distributive shares.
Ely thinks the work group is on the right track with their approach. He said most states that have guidance “treat guaranteed payments in the same way as distributive shared, which I think is the better approach.”
The full article, “MTC Group Plans Model Rule on Sourcing Partners’ Payments,” was published in Law360 on September 20, 2023. (login required)