Multistate Tax Alert: District of Columbia’s 2012 Budget Support Act of 2011
Unitary Combined Reporting and Various Other Income and Transaction Tax Changes
Attached are two Tax Alerts addressing the District of Columbia’s Fiscal Year 2012 Budget Support of 2011 (the “Act”). We have broken our summary of the Act into two alerts: the first one addressing required unitary combined reporting, and the second addressing various other income and transaction tax changes. As of the issuance date of these two alerts, the official website of the Council of the District of Columbia indicates that the Act is projected to become permanent law on September 14, 2011.