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 resolution asks the Department of Taxation to conduct a comprehensive analysis of how corporations report income, including the treatment of foreign subsidiary earnings, and to evaluate alternative reporting models. It requires estimates of revenue impacts, assessment of administrative costs, and comparison with other states. The department must deliver a report to the Legislature before the 2027 regular session.

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