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State Tax Treatment of Partnerships? It’s All About Sourcing (1)

May 13, 2022, 1:02 PMUpdated: May 14, 2022, 4:02 PM

This week in state tax news: The Multistate Tax Commission is making steady progress on its project aimed at a model rule on the tax treatment of investment partnerships. Meanwhile, Colorado is close to enacting the first SALT cap workaround law retroactive to 2018. Tax-cutting initiatives saw progress in Colorado, Connecticut, and Kansas.

The Multistate Tax Commission shined some light this week on its plans for a model rule on the tax treatment of investment partnerships—a hopeful sign the commission can develop a set of guiding principles for the division of multistate income from these businesses.

The intergovernmental tax ...