Expert Insight: Jamie Yesnowitz Discusses How The MTC's Proposed Compact Changes Will Impact Multistate Businesses

Daily Tax Report: State provides authoritative coverage of state and local tax developments across the 50 U.S. states and the District of Columbia, tracking legislative and regulatory updates,...

The latest round of proposed amendments to Article IV of the Multistate Tax Compact would make a number of significant changes affecting businesses with income in more than one state. Flexibility for the states in adopting their own apportionment formulas, and the sourcing of “sales, other than sales of tangible personal property,” using a market-based approach are among the proposed changes. In seeking expert insight, Steven Roll and Melissa Fernley of Bloomberg BNA spoke with Jamie Yesnowitz, principal at Grant Thornton LLP, about the implications of these and other proposed revisions.