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cost releases combined reporting study


The Council On State Taxation (COST) is pleased to announce the release of "Understanding the Revenue and Competitive Effects of Combined Reporting." This comprehensive study was prepared by Ernst & Young LLP's National Director of State and Local Tax Policy Economics, Dr. Robert Cline.  The analysis in this paper suggests that combined reporting is not a panacea for addressing the problem of how to accurately determine multistate business income attributable to economic activity in a state.  For business taxpayers. there is a significant risk that combined reporting will arbitrarily attribute more income to a state than is justified by the level of a corporation's real economic activity in the state.  For this reason, a switch to combined reporting may have significant and unintended impacts on taxpayers and tax liabilities unrelated to tax planning.

Please click here to access the full study.  

COST is a nonprofit trade association representing of over 600 multistate corporations engaged in interstate and international business. COST's objective is to preserve and promote equitable and nondiscriminatory state and local taxation of multijurisdictional business entities.