I would imagine that corporate and partnership tax documents soon will be filed with all states requiring them by electronic means. I think that the economic benefits to both parties in the long-run make sense for both parties, and I see this as being almost a sure thing.
Massachusetts has been the pioneer in this process, and other states that in some way mandate the filing of corporate and partnership income tax documents include Alabama, Florida, Georgia, and New York.
Mandates also are affecting tax preparers, this seems to be an area that will certainly grow with time. From Big Four accounting firms to local accounting practices, states increasingly are requiring preparers to e-file client tax documents with their respective revenue departments.
I sometimes wonder why some states mandate e-filing corporate and partnership tax documents on businesses in their state. This seems to not be something that is always going to be looked at favorably upon businesses in terms of new mandates/regulations, but some would argue that having corporate income taxes are already business-killing mandates, so why not have this additional mandate, not that much more trouble, perhaps. Just food for thought.
This blog will now end as being a requirement of my MBA class on technology, but it will continue in some other form to be determined. This was been allot of fun, and I look forward to sharing my thoughts with you in the future.
Peter Wells, August 1, 2010
