What issues of tax administration, procedure or technical corrections would the Department like to see addressed legislatively? What role could the PICPA play in this effort?

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What issues of tax administration, procedure or technical corrections would the Department like to see addressed legislatively? What role could the PICPA play in this effort?

Nov 4, 2015, 11:29 AM by PICPA State and Federal Taxation Committees

The Department’s legislative initiatives are contained in the Governor’s tax proposals. At this point we are waiting to find out what tax legislation will be adopted with a final budget and will focus on implementation of that legislation. Concerning technical corrections, the Department would like to see a clarification of the language concerning deductions for intangible drilling costs in personal income tax (TRC 303(a.8)), without changing the substance of the provision. The current language is ungrammatical and difficult to understand.