Number: RL32297
Title: State Corporate Income Taxes: A Description and Analysis
Authors: Steven Maguire, Government and Finance Division 
Abstract: In the 110th Congress, S. 1726 and its twin H.R. 5267 would establish moreuniform standards - generally higher standards - for the level of business activity that would trigger nexus (or presence) and thus state corporate income taxability. The legislation is often identified as "brightline" legislation. In the 109th Congress, the House Judiciary Committee approved similar legislation, H.R. 1956. The Congressional Budget Office estimated that H.R. 1956 would have cost the states $3.1 billion over the 2007 to 2016 budget window.
Pages: 16
Date: June 23, 2008