January 16, 2010
Iowa Combined Reporting
Lindsay McAfee (J.D. 2010, Iowa) has published Note, Making Taxes More Certain: Iowa State Legislators’ Guide to Combined Reporting, 95 Iowa L. Rev. 245 (2009). Here is the abstract:
State corporate-income-tax revenues are declining for several reasons, and amidst one of the worst economic climates in history, state policymakers are under pressure to reform the state corporate income tax to account for states’ changing economies and corporations’ multistate business structures. Proponents of reform advocate combined reporting as the best way to achieve a fair and accountable tax system. While individual businesses oppose combined reporting for a myriad of reasons, the general opposition to combined reporting from the business community at large stresses that when enacted hastily, combined reporting can cause enormous complexities and administrative burdens for taxpayers and state administrative agencies alike—and can end up defeating the very purpose of reform. Iowa’s policymakers must examine several issues before making a final decision to enact combined reporting and consider whether combined reporting will keep Iowa competitive and attractive to businesses.
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