On October 15, 2009, TEI filed comments on Wisconsin's proposed combined reporting regulations. TEI's comments focused on: (1) the basis of assets owned by corporations that have not previously filed Wisconsin corporate income tax returns; (2) the calculation and sharing of research credits and carryforwards between members of a combined group; (3) the sharing of net business loss carryforwards between members of a combined group; (4) the mechanics of the controlled group election; and (5) the selection of a designated agent for a combined group.
TEI's comments were preared under the aegis of its State and Local Tax Committee, whose chair is Cathleen Stevens. TEI's comments were prepared by TEI Tax Counsel Daniel B. De Jong.
Committee