REQUESTING THE DEPARTMENT OF TAXATION TO CONDUCT A COMPREHENSIVE ANALYSIS OF CORPORATE INCOME REPORTING STRUCTURES, INCLUDING THE TREATMENT OF FOREIGN SUBSIDIARY INCOME, TO INFORM LONG-TERM FISCAL PLANNING.

Summary

The House resolution asks the Department of Taxation to conduct a comprehensive analysis of corporate income reporting structures, including how foreign subsidiary income is treated. The study will estimate revenue tied to foreign subsidiaries, compare alternative reporting models, and evaluate administrative and compliance impacts. Results will help the state better forecast corporate tax revenue and consider future policy options.

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