S-CORP Testifies on Nexus Issues
The House Judiciary Committee held a hearing Wednesday on the Business Activity Tax Simplification Act of 2013 (H.R. 2992), a bill that seeks to rationalize the current maze of state and local practices when it comes to taxing businesses residing outside their borders.
Testifying in support of the legislation was S-CORP Chairman Tony Simmons, President and CEO of the McIlhenny Company. In his testimony, Tony got right to the heart of the matter and described the burden faced by his and similar companies doing conducting business across state lines:
Monitoring, interpreting, and compliance with, in many cases, unclear and constantly changing …