Five States Join Effort to Stem Corporate Tax Base Erosion

Five states have joined a data sharing agreement to fight back against the loss of corporate taxes linked to how companies value transactions between their related business units.

Alabama, Louisiana, Mississippi, New Jersey, and Washington have formally committed to the “exchange of information” agreement adopted last July by the Multistate Tax Commission’s State Intercompany Transactions Advisory Service Committee, or SITAS. The participating states now will pursue a series of closed-door training and information sharing meetings, SITAS chair Krystal Bolton said during a committee meeting Wednesday. Bolton also serves as an assistant director of the Louisiana ...