In a rare open session, the Multistate Tax Commission’s (MTC) Audit Committee (Committee) met yesterday to discuss changing the way the MTC selects companies to audit on behalf of states. For many taxpayers, the MTC’s process for selecting audit targets is a mystery because it occurs behind closed doors. The current selection process requires states to respond to a series of questionnaires that helps the Committee gather specific information about potential audit targets.
For more details, read our legal alert “Update from the MTC’s Winter Committee Meetings: MTC Audit Committee Discusses Audit Selection Process.”