States have varying systems of taxing bank and other financial institutions that are frequently different from their income taxation of the general corporation. Some of the difficult state tax issues for financial institutions include entity classification, nexus, apportionment, and combined reporting. This article discusses who the financial institutions are for state tax purposes, explains the specific state income tax rules applicable to financial institutions, and data and technology challenges.
Mark Price
KPMG National Tax Leader – Banking and Capital Markets, KPMG US
Elizabeth B. L'Hommedieu
KPMG National Tax Deputy – Banking and Capital Markets, KPMG US
+1 614-249-1849
