MTC discontinues work on pass-through model statute

On May 9, 2013, the Multistate Tax Commission’s Executive Committee terminated work on a model tax statute on partnership or pass-through entity income ultimately realized by an entity that is not subject to income tax. Insurance companies, real estate investment trusts, and general pass-through entities that may have been impacted by the model statute should be aware that activity on the statute has ceased. [Partnership or Pass-Through Entity Income Ultimately Realized by an Entity that is not Subject to Income Tax Document Library, Multistate Tax Commission]

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