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Feb 1, 2022 · MTC Guidance. On August 4, 2021, the MTC adopted revisions to its “ Statement of Information Concerning Practices of Multistate Tax Commission and Supporting States Under Public Law 86-272 ”. Within its guidance the MTC provides examples of protected and unprotected activities under P.L. 86-272.
Public Law 86-272 AN ACT September 14, 1959 Relating to the power of the States to impose net income taxes on income [s. 2524] derived from interstate commerce, and authorizing studies by congressional committees of matters pertaining thereto. Be it enacted hy the Senate and House of Representatives of the
Apr 1, 2022 · On Aug. 4, 2021, the Multistate Tax Commission (MTC) made significant revisions to its official guidance on Public Law 86-272, which discusses protected and unprotected business activities performed through a company’s website. The updated guidance specifically addresses activities performed via the internet, since these activities weren’t ...
Apr 5, 2024 · Public Law 86-272 provides corporations that sell tangible personal property with a limited safe harbor from the imposition of state income taxes. In 2021, the Multistate Tax Commission (MTC) adopted a statement regarding how to apply Public Law 86-272 to business activities conducted on the Internet.
Feb 18, 2022 · Krista Schipp. On Feb. 14, 2022, the Franchise Tax Board (FTB) issued Technical Advisement Memorandum (TAM) 2022-01, outlining activities that exceed the federal protections provided by Public Law 86-272 and, therefore, creating an income tax return filing requirement for out-of-state businesses that otherwise would not have to file a ...
Aug 19, 2021 · The Multistate Tax Commission (MTC) has reconsidered its interpretation of Public Law (P.L.) 86-272—the federal statute that prevents a state from levying a net income-based tax on an out-of-state business in certain circumstances.
The newly revised Statement generally limits the activities protected under P.L. 86-272, which prohibits the imposition of state income tax on out-of-state sellers whose in-state activities do not exceed soliciting orders of tangible personal property.
