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October 1, 2021
2021-1782

Thursday, October 21 | Examining the MTC’s revised statement on P.L. 86-272: Updates, impact and considerations (1 pm ET)

Join us for a discussion of how multistate taxpayers may be affected by the Multistate Tax Commission's (MTC) recently approved fourth revision to its Statement of Information concerning practices of the MTC and supporting states under P.L. 86-272 (statement). The revision added a new section on protected and unprotected activities conducted over the internet and clarified other items such as those performed by telecommuting employees and independent contractors, among other changes.

The statement generally limits the activities protected under P.L. 86-272, which generally prohibits the imposition of state income tax on out-of-state sellers whose in-state activities do not exceed soliciting orders of tangible personal property. On the webcast, we'll focus on the changes made to the statement as part of the fourth revision, the application and impact of those revisions and the considerations for multistate taxpayers. Specifically, our panelists will:

  • Provide a history and overview of P.L. 86-272, the MTC and prior revisions to the statement
  • Examine the specific changes made to the statement and examples to which the statement may apply
  • Review the authoritative power of the MTC generally
  • Consider whether states will adopt the revised statement and whether such adoption would spur Congress to amend P.L. 86-272
  • Consider the interplay between Wayfair and the MTC's interpretation of protected and unprotected internet activities within the framework of P.L. 86-272
  • Evaluate the impact of the revised statement on combined versus separate reporting states

Please join us for this 75-minute, interactive webcast. We welcome and encourage you to ask questions.

Date: Thursday, October 21, 2021

Time: 1:00-2:15 p.m. EDT New York; 10:00-11:15 a.m. PDT Los Angeles

Registration: View archive here.

Panelists

Joe Huddleston, Indirect, State and Local Tax, Ernst & Young LLP, Washington, DC

Carl Joseph, Indirect, State and Local Tax, Ernst & Young LLP, Sacramento, CA

Moderator

Karen Currie, Indirect, State and Local Tax, Ernst & Young LLP, Dallas, TX

CPE credit offered: up to 1.4 depending on actual duration. Recommended field of study: Taxes. Learning objectives: Understand the protection offered by P.L. 86-272 and the MTC's statement on activities that are and are not protected, describe the recently adopted revisions to the statement, explain the application and impact of those revisions and identify considerations for multistate taxpayers. This intermediate level, group internet-based course has no prerequisites or advanced preparation. Final CPE award to be based on content, polling and length of participation. See CPE FAQ for more information.

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The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

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