Unlocking Collaboration and Trust in the Tax Law Community with Nancy Prosser Part 2
In this episode of the SALTovation podcast, we continue our conversation with Nancy Prosser, General Counsel at the Multistate Tax Commission, on the purpose and work of the MTC in promoting uniformity and assisting taxpayers with compliance in state and local tax matters. She explains how the MTC develops model statutes and regulations, and the challenges they face in getting states to adopt them. Nancy also shares insights into the selection process for uniformity projects and highlights the current projects focused on the taxation of digital products and partnerships.
Listen this week as Nancy addresses the complexities of adopting and adapting MTC recommendations and the role of stakeholder input in the process.
Topics discussed in this episode:
- The MTC's purpose is to facilitate the appropriate determination of tax liability, promote uniform tax systems, assist taxpayer compliance, and avoid duplicate taxation.
- States are sovereign entities and thus decide independently whether to adopt MTC's model statutes and recommendations.
- Uniformity projects at the MTC can be initiated by both member states and public stakeholders, showcasing a collaborative effort toward state tax policy refinement.
- The MTC actively studies tax policy and aims to offer resources and models to better handle emerging and complex tax issues, like the taxation of digital products and partnerships.
Quotables
- “It is an ongoing effort. I don't know that there's ever going to be a perfect way for the MTC to spread the word, but we appreciate opportunities again like this podcast and the technology that we have today to reach out and talk to people and do the best we can to explain who we are and what we do. We are hoping to develop good models that show people how to do it well and do it right.” -Nancy Prosser [10:03]
- “The essence to me of those projects are studying these areas to see, okay, what's going on in the economy on this front, what are the states doing or not doing and how, you know, collectively with, again, that stakeholder input, can we perhaps make recommendations that will help everybody do it more easily.” -Nancy Prosser [19:05]
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