Interstate Taxation Act

[AI summary unavailable — showing source text] Interstate Taxation Act - Title I: Jurisdiction to Tax - Establishes a uniform standard for determining the circumstances under which a company may be held subject to taxes covered by this Act. Provides that a State or political subdivision can not impose a corporate net income tax, capital stock tax, or gross receipts tax with respect to a sale of tangible personal property on any person unless that person has a business location in the State, and can not require a person to collect a sales or use tax with respect to a sale of tangible personal property on any person unless that person has a business location in the State, and can not require a person to collect a sales or use tax with respect to a sale of tangible personal property unless that person has a business location in the State or regularly makes household deliveries in the State. Permits the States to impose corporate net income taxes, capital stock taxes or gross receipt taxes with respect to a sale of tangible personal property, if not otherwise denied the power to do so by this title. Title II: Maximum Percentage of Income or Capital Attributable to Taxing Jurisdiction - Provides that those interstate companies cover…