Boating Industry Intelligence You Can Profit From
WASHINGTON — The National Marine Manufacturers Association and a laundry list of businesses and trade groups across a number of industries recently sent a letter in support of the Business Activity Tax Simplification Act of 2011.
The letter to Chairmen Lamar Smith and Howard Coble of the House Judiciary Committee and Subcommittee on Courts, Commercial and Administrative Law was in support of H.R. 1439, the Business Activity Tax Simplification Act of 2011 (BATSA).
The bill, which has bipartisan support, would “establish a bright-line rule that all states would follow by codifying the traditional physical presence nexus standard governing state imposition of corporate income taxes and comparable business activity taxes.”
A business that has no real presence in a state would not be subject to taxation by the state in which such limited activities take place but in the state where it is physically present and has substantial activities.
Click here to read the full letter: H.R. 1439 – Business Activity Tax Simplification Act of 2011
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