A Taxpayer Wynne and Other Interesting Developments
Author: John P. Barrie.
Source: Volume 29, Number 01, September/October 2015 , pp.53-56(4)
< previous article |next article > |return to table of contents
Abstract:
This column addresses several developments in the area of state and local taxation, including the Supreme Court’s holding in Maryland Comptroller of the Treasury v. Wynne, that Maryland’s county income tax, which was imposed statewide but did not provide a credit for income taxes paid to other states, discriminated against interstate commerce and therefore was invalid, and the decisions of several state courts and agencies related to the Texas Franchise Tax, international banking facilities and the New York Franchise Tax, the New York City tax on credit rating services, and the Multistate Tax Commission’s apportionment and allocation rules for financial institutions.Keywords: Commerce Clause, income tax, state income tax credit, New York financial institutions, apportionment and allocation rules
Affiliations:
1: Bryan Cave LLP.