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Article: Nexus for non-net-income-based taxes.
- Article from:
- The Tax Adviser
- Article date:
- April 1, 1999
- Author:
CopyrightCOPYRIGHT 1999 American Institute of CPA's. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Tax advisers should be aware that the level of clients' multistate business activities may be such that a client is not protected from being taxed in those states that have non-net-income-based taxes other than sales/use taxes (such as a franchise tax, capital tax, license tax, gross receipts tax or net worth tax). States have implicit jurisdiction to tax, subject to three principal limitations--those imposed by the U.S. Constitution, P.L. 86-272 and those that states voluntarily impose on themselves.
Most practitioners are aware that P.L. 86-272 allows a company to have certain minimal activity within a state without establishing sufficient nexus requiring a tax ...
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