News Analysis: States Consciously Uncoupling From the Cash Flow Tax?


Peter Faber was cited as author of an earlier article, “The Impact of Federal Tax Reform on State and Local Taxation” where he warned that states which combine expensing and apportionment may create inconsistent and distorted tax results compared to states that do not adopt expensing, because some income would be taxed twice and other income would not be taxed at all.