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Proposed "Business Activity Tax Nexus" Legislation Would Seriously Undermine State Taxes on Corporate Profits and Harm the Economy

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Publication Date: June 2008

Publisher(s): Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Michael Mazerov

Special Collection: John D. and Catherine T. MacArthur Foundation

Topic: Banking and finance (Taxation and tax policy)

Keywords: Tax code; State budgets; Economic projections; Corporate taxes

Type: Report

Abstract:

Congress is considering a bill (known as "BATSA" that would eliminate states' authority to tax a fair share of the profits of many corporations that are based out-of-state but do business within their borders.  The bill's new restrictions on state and local taxing authority would have far-reaching, adverse impacts on the revenue-generating capacity and fairness of state and local tax systems.