Throughout the week, we highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summary of specific multistate developments relevant to taxpayers, tax professionals, and other interested persons. Read the recent alerts below or visit the archive.
Tennessee treatment of FDII The Tennessee Department of Revenue recently announced a change to the State’s treatment of foreign derived intangible income (“FDII”), specifically providing that Tennessee taxpayers are entitled to the full amount of the Internal Revenue Code section 250(a) deduction to which they are entitled under federal law as it relates to FDII.
This Multistate Tax Alert addresses Tennessee’s treatment of FDII. [Issued: March 3, 2023] More
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